Collection and Utilization of Market Information and Customer Insights within New Product Development
Sammanfattning: Corporate groups face many challenges related to the collection and utilization of market information and customer insight, which - if not properly dealt with - can lead to the loss of financial and competitive advantages. The corporate group that was the subject of the case study has a central product development process that is making use of the stage-gate model and is currently facing challenges regarding the capture of customer insights within that process. The thesis strives to investigate and identify challenges connected to collecting and utilizing market information and customer insights in a central stage-gate process within a corporate group and providing a well-defined way of combating these challenges rooted in previous research and studies. The study was based on a literature review combined with 12 qualitative interviews with the company respondents, in addition to weekly meetings with a supervisor at the Group. All interviews were transcribed and carefully compared with the literature review in order to draw the final conclusions of the study. The main challenge that was identified through the project group's research was missing, lacking and incorrect information on a brand level. Within the product development process, it was identified that there was insufficient information available within four major areas, market sizing, customer segmentation, growth predictions and product cannibalization. The proposed solution to the identified challenge was to make use of a quantitative collection of data as the initial solution and then strengthened it by the collection of qualitative data. This would be done through an internal framework that would make it obligatory for the different brands to collect, with support from the central part of the group, a decision upon a list of data. The collected data would then be evaluated and checked for reliability and, if needed, adjusted to achieve the desired quality and quantity.
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