In The Management Science Journal article titled ‘Product Development Decisions: A Review of the Literature,’ the authors define product development as, “the transformation of a market opportunity into a product available for sale.” It is important to note that in this definition, the actual innovation of a product is not the only integral part of its development. In fact, research into a product’s market, as well the factors surrounding the product’s development, are at times, more important.
Developing a new product, or revitalizing an existing product, is a difficult and arduous task for any business hoping to maintain profitability. There are many layers within product development, and each layer requires a specific set of procedures and attention to detail. As a result, many businesses turn to product development consulting firms for assistance. These firms specialize in improving, monetizing, and strengthening the product development process. There are, however, a number of product development consulting firms available to businesses. It is important to choose the right one, for the right set of reasons.
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TCGen is a firm that offers both product development consulting, and agile consulting. The company’s approach to new clients is to fully assess and analyze their business, and from there provide focused training for both managers and members.
TCGen unpacks their clients’ critical points, and sets goals and KPI’s with the company in order to improve new product development. As a result, TCGen identifies and creates a series of improvements that can be made. What sets TCGen apart from other firms is their substantial amount of knowledge and expertise within the product development field. In addition to this, the company does not approach each client in the same way. Each business is treated as unique, and is therefore provided with an in-depth and customizable service.
Curion is another great example of a product development consulting firm. The company designs solutions for their clients on an individual basis. A unique selling point for Curion is their attention to research within their transformation of product development.
Within their research, Curion locates what consumers are looking for, as well as attempts to understand why consumers like the products they do. Similarly, Curion embeds quality control into their consulting.
Decision Analyst focuses on usage testing, as well as product development and analytics. Embedded into their services is attention to quality control, as well as the creation of systems that continue to operate once consulting and testing has been completed.
The company believes that in-home-testing is the best way to ensure product quality and improvement. This allows Decision Analyst to assess pricing, as well as consumer response. The company prioritizes building brand share, and increasing profitability.
This particular product development consulting firm has been available to businesses for the last 30 years. As a result, they have a wealth of experience in the product testing industry. The company works with its clients to initiate a structured plan on how to achieve that business’s goals for their products.
Just The Facts, Inc. combines research and product testing to begin unpacking the layers of product development. This includes extensive research into the habits of the consumer, as well as research into the market that the product would fit into.
Precision Research focuses on product development research. The company provides product evaluation services, concept development, and consumer research. What sets this product development consulting firm apart, is their ability to provide services to a large variety of clients.
Precision Research boasts elaborate facilities for product testing, including food testing rooms. This allows the company to optimize their sensory research for product development.
BCG is a management consulting firm that offers product development consulting. This company is interesting, as they offer a service that solely focuses on digital product development. BCG prioritizes the rapid development of products.
BCG helps businesses build business strategy by harnessing product engineering, management and design. The company places an emphasis on the utilization of innovative and cutting edge technologies. BCG researches the market for a product, and centers the innovation of the product around that research.
Webtye is a relatively new product development firm. The company pays close attention to market research, and invests time in understanding a client’s consumer base.
Webtye utilizes innovative technology to create and develop products, where the consumer’s experience is placed as the number one priority. The company works with the client to develop a strategy, and then works with the business to design the entire product, and reimagine their brand. What sets Webtye apart, is their attention to brand and product aesthetics.
Like Just The Facts, Inc. Schlesinger Group focuses on product testing, in addition to product development. The company offers a variety of services within their product testing, where clients can choose to either on-site testing, on-location testing, or at-home testing.
The company also offers a number of research methodologies, including focus groups. A selling point for the company is their talented and diverse team of professionals.
GCX Solutions has a team with over 2o years of product design and development experience. The company deploys a human-centric approach to design, and prioritizes the consumer experience.
Integrated within their services is training and knowledge sharing. The company aims to provide their clients with the ability to formulate and innovate. GCX solutions focuses on tech companies, certain startups, and UX agencies. They are a good choice for businesses within these categories.
Target Research Group primarily focuses on sensory and consumer research. The fields that they are experts in are: the food industry, and the personal and health care industries.
The company provides in-depth research into product development, and packaging. They do this to help businesses avoid threats to their profitability, as well as prevent defects within products. What sets Target Research Group apart from other product development consulting firms is their attention to customer service and client communication
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