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Research And Product Development

  • Category: News  |
  • 11 Oct, 2016  |
  • Views: 1892  |
Research is an integral part of product development in any industry. This is truer in the tech industry than in most other industries. The nature of the tech world demands that products fill a gap, otherwise they are discarded without a second look. A piece of technology that is developed and fails to find a market is a loss. This is not only in terms of the financial commitment but also the opportunity cost lost. Time lot developing the technology cannot be redeemed. Therefore it is important to invest in research into the product that needs to be developed. Proper research on the industry trends can lead to viable decisions by management. Poor analysis of the market can lead to catastrophic choices which may cost the firm time and valuable resources.

Even when building a brand around a product it is very important that the firm closely assesses the market to see what they will respond positively to. At the end of the day, any marketing campaign is supposed to convert into sales.

The research will clearly show the strengths and weaknesses of an intended product. This data can be used in leveraging the product to show what makes it different from all the other products on the market. If consumers can be made to see the difference then the product is a success.
When real money mobile pokies were first introduced there was a lot of scepticism in the market about the response the product would get.

The online casino game developers and the online casino operators such as conducted a research on how to introduce the product to gamers. In a world that is very much dominated by online slots, live online casinos went on to become a great success. Even game console developers are buckling to the pressure from research based evidence and other data to allow cross platform gaming. Major console developers are abandoning their traditional protectionist policies. There is now a lot talk of creating multi-player games that can be played by players using consoles from different developers.

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