What We Do
Innovation and Product Development
Got an amazing new product that’s sure to shake up the marketplace? Or looking for the next big thing to help grow your business? LRW helps clients identify unmet needs and category white space, then develops custom concept testing systems to make sure your products meet consumers’ functional and emotional needs.
Problems We Solve
We offer a host of tools and techniques to discover reliable insights to shape your innovation agenda, even in the most complex and uncharted environments.
Identify consumer segments with needs unmet by existing brands. Discover occasion-specific unmet need states or jobs-to-be-done that are not well served by existing products. Size these opportunities, then develop go to market strategies to capitalize on them.
Get your stakeholders involved in generating actionable strategies and tactics based directly on research results with an Actionability Workshop®.
Determine the price that will maximize share, revenue, or profit. Use sophisticated analytics like choice modeling to assess potential competitive pricing reactions or incorporate price into a feature optimization study.
Create the best product or product line to meet market demand in a competitive context by leveraging sophisticated trade-off techniques to test literally millions of ideas for product feature sets.
Predictive Modeling and Forecasting
Using new product ideas developed through Ideation and Feature Optimization, predictive modeling assesses areas of greatest opportunities and persistent unmet needs, to forecast and model potential growth.
Concept Screening and Optimization
Test dozens of rough ideas to narrow the field to the handful worth developing further. Rely on agile development tools such as research communities to test reactions, solicit feedback, modify, and repeat until concepts are ready for quantitative testing.