24 Aug Consumers are always on the search to satisfy the
Consumers are always on the search to satisfy their needs within a new product. It’s important for a company to do extensive research on new products prior to launching a mass marketing release. New products afford businesses with the prospect to better satisfy a consumer need and gain lucrative advantages over possible competitors (Finch, 2012). I will explore the Noom Diet Plan’s new product development process.
Stage 1 – Idea Generation – through the consideration and evaluation of possible new products, Noom has determined that with numerous diets plans continuously marketed to consumers, Noom offers a different perspective of weight loss through the mental aspects of weight loss and identification of barriers and triggers to weight loss success.
Stage 2 – Screening – new concepts are evaluated against fixed criteria. Noom knows there are numerous diets marketed and consumers are confused about what will work. Noom screens consumers and provides information specific to the user to what they can expect regarding goal weight and the price of the service.
Stage 3 – Concept Development and Testing – testable components of the product. Noom conducted a study that included analyzing data to identify inefficiencies in current diet programs and how Noom could benefit customers to their weight loss goals.
Stage 4 – Business Analysis – determine the product’s survival potential against financial potential. Noom determined a significant drop with customers after presenting the results page (first mention of the price of the program) before they could establish an understanding of the product. A new design of the results page didn’t include the program costs which kept the consumer interested throughout program explanation.
Stage 5 – Market Testing – Products are carefully tested through market research was conducted by trafficking-specific versions of the app to consumers. This testing approach afforded Noom to measure impact before financing the resources to make permanent changes. Once a test has shown to perform better when compared against the current version, it is incorporated as the new baseline, and future tests will be run against this new baseline to try and improve even further.
Stage 6 – Commercialization – using positive test results to introduce the product to the market. Noom releases its app for health and wellness by giving the customer a detailed plan of hitting their weight goals. This is accomplished by not only changing the food you eat but also the outlook you have for health by identifying barriers and motivations to stay healthy.
Most new products fail because consumers are familiar and stick to brands and products, they are familiar with. New products fail is that companies fail and getting the product market ready or present new products later in the process after competitors have already presented the products. A new product can also fail if consumers cannot figure out how to use the product or grasp the benefit of it.
Finch, J. (2012). Managerial Marketing. Retrieved from https://ashford.content.edu. (Links to an external site.)
Wood, K. (2018). An Introduction to Noom’s Growth Machine. Retrieved from https://web.noom.com/blog/2019/05/an-introduction-to-nooms-growth-machine.
Respond to…
One product that I am intimately familiar with is my parent’s design of a way to snuggly fit a curtain on an odd shaped window such as an octagon. They closely followed the product development process which amounted to a successful product that produced a decent living for almost 20 years. Here are the six steps in the process.
- Generation of ideas: My mother got the idea from watching the safety reflector flags on the back of our bikes flop around behind us. She decided she would find a way to securely mount a curtain the exact shape of the odd shaped window.
- Screening: She had several different prototypes made for the different brackets and tubing that latched onto the wall holding up the curtain.
- Concept Development and Testing: Once she determined the best product idea, she found a builder that would be able to produce what she was looking for at the cheapest price possible. She went through many different molds and designs.
- Business analysis: Once she had a great idea of what the cost was to make and package the curtain rods she was able to build out a pricing structure that would make her money while also being affordable.
- Market Testing: For the market test she and my Dad when to a few trade shows in Texas and Florida as well as other locations around the country to gauge interest and JC Penny wanted the product in their catalog.
- Commercialization: Once they had the interest from JC Penny, production began, and she continued the partnership with JC Penny for close to 20 years.
According to Finch, products often fail because the Early Majority isn’t convinced enough to buy the product (Section 9.4, para. 4). One way to plan and prevent this failure would be to ensure the market testing phase is thoroughly worked out. It is important to gather and understand the feedback given on the products being sold to help foresee possible issues in the future. Another recommendation is to manage customer service closely. People will often not go to restaurants or buy products because of the customer service provided. If a product happens to break and the customer service for repairing or replacing is bad then people in the later parts of the product Diffusion Curve will not buy it ultimately leading to product failure.
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