Market Research for a Newly Launched Product

By Fofa Bravo

I have selected visualization design tool for the submission of my assignment.

CHALLENGE

The challenge is to come up with an idea to conduct a market research survey for a newly launched  product. The product, being a flagship product of one of the world’s leading corporation, is to be  launched an year later. The market research is to be done on how to launch the product in the market.

SELECTION

For this challenge, I select VISUALIZATION design tool.

The visualization is a really core component of the way that we communicate, whether we're aware  of it or not. When we're dealing with very complex problems, we're actually enacting a different kind  of problem solving that has to bring in more than just logic. We're actually doing extrapolation. We're  doing inductive reasoning. We're thinking about possibilities that we haven't yet seen. So that kind of  imaginative work really has to be brought out by exercising and understanding that right side of our  brain. So getting in the habit of doing visualization is actually a way of cultivating that side of our brain  work. Visualization is really important. For the process of design because it's actually a way of  unlocking a different part of brain.

APPLICATION

The visualization tool is a powerful tool. It is the perfect tool to be used in such situation.

New ideas for products and services are conceived every day — yet many of them fail because they  weren’t properly introduced to the market. Market research helps ensure both that the product  launch will hit the ‘right buttons’ in the consumer, and ensures that the product idea itself addresses  the (often unspoken) desires of the customer.

Market research often reveals counter intuitive facts about your market, even if you think you are  already well acquainted with it. For example, research has shown that ‘snacks’ are often used as a  meal substitute, and that therefore successful confectionery-type snack products tend to be more  ‘foody’ than one might expect: ingredients like cereal, peanuts, biscuits, and fruit which help break up  the overall chocolate are very well received by customers.

Similarly, the tool visualization helped me know how to effectively launch this xyz flagship product of  this giant corporation.

INSIGHT

Using design visualization tool allowed me to think in a nonverbal way. It allowed me to access parts  of brain, parts of creativity, that I might not normally be using in the course of conversation. Most  people will tell you, especially in the business world, that they are not artistic and they cannot draw.  Visualization isn't really about drawing, though. It's actually about visual thinking, and we all do it.  What I've seen is that through practice, you can actually get better and better at doing it. Visualization  is anything from the things we write on a chalkboard or a whiteboard. To the images that we create  in a PowerPoint presentation, to photography, video. It's basically anything that takes us beyond just

using words or language alone. Things like color. Things like symbols for example. If you're looking at  logos and the way that companies represent the, represent themselves as a brand. Those are all ways  to enact a more visual understanding. When we're talking and we're verbalizing things we see things  internally, but we may all be understanding the words in a slightly different way. The beauty of using  visualization is that we can tap into a single picture. The more you begin to use pictures, the more that  you begin to diagram while you talk, and create a visual image for people of how you are thinking.  The, the more likely you are to achieve a sense of agreement and consensus with people, the more  you are likely to draw out conversation. In an environment where your, your ability to, to get things  done and to solve problems is dependent on other people being able to understand you and align  their ideas with yours.

APPROACH

Storytelling would be the approach if I had the chance to solve this challenge differently. I think what  storytelling does for leaders in terms of strategy, is it makes it simple. It makes it relate-able, It gives  strategy color, and life In character and plot. And it, allows the line worker, working your  manufacturing unit to vice president running marketing to have the same understanding of what we're  trying to do. And so for me, those are two reasons, and there's a number more about why storytelling  is an essential tool for leaders to become competent in and experts in as they move forward.

So, going with the storytelling way, it would have made a different and simpler solution.

