Problem

Facing growing competition and saturating markets, there was a need to identify ways to differentiate and seek greater margins in an industry where our client’s services were being commoditised rapidly.

Solution

New product ideas were identified by having a clear understanding of consumers’ current and latent pain points. These ideas were further evaluated by both internal experts and external consumers in greater detail. Using advanced qualitative and quantitative techniques e.g. choice-based conjoint, the final winning ideas were further refined and tested to ensure an optimal construction of the value proposition, product and pricing configuration. 

Outcome

Only two products were eventually launched as a result of this programme but they are now generating millions in terms of revenue with extremely high margins. This was made possible because our client had first-mover advantage in fulfilling consumers’ unrealised needs through these products.