WISC offers a variety of strategic marketing research and action planning solutions for small businesses, inventors, and entrepreneurs. Through customized research and analysis projects, WISC provides insightful reports and action plans that inform business decisions. With WISC services, you will learn how to pursue the best opportunities for profitability and growth.
Learn more about WISC New Product Feasibility Studies below.
Select from the sections below for more details on WISC market insight soltions or call WISC at (262) 472-1365 to talk about what would help your business.
Use WISC research to better understand the competition and set your products or services up for greater success. This service provides the in-depth review of competitive information you need for a strategic marketing plan, product development decisions, and other core business activities.
Your competition may be more, or different than you think. Sometimes when we get too close to our products and services, it can be difficult to see things from the customer's perspective. Or, even if we can see how we fit into the market clearly, it can be challenging to find the time to keep up with the competitive landscape changes.
To get an objective, thorough, timely, and professional overview of the competition, let WISC market research analysts conduct a Competitive Analysis. WISC offers two levels of competitive analysis to fit your business needs. The Core Competitive Analysis includes internet and business database research, analysis and reporting. The Advanced Competitive Analysis adds phone interviews to a sample of competitive companies to learn more from them about how they see their company, products and services.
With a thorough assessment of current competition, you will be better able to differentiate your offerings and show customers what sets your products or services apart from other options in the marketplace. Let WISC uncover, from an objective standpoint, how competitive your market is right now. What do competitors say about their products and services? How do they advertise? What does their pricing look like? How do they position themselves in the market? With this service, you will get answers to these questions and more.
Core Competitive Analysis
In support of a four-corners analysis approach to competitive insights, WISC researchers compile a list of top competitors, and collect and analyze competitor characteristics using business databases and company websites. The analysis and reporting will include market positioning, claimed competitive advantages, pricing, advertising, apparent management assumptions, and other information useful to you in your marketing strategy, as available. Analysts present the information in a spreadsheet of competitors with an easy-to-use summary report that includes the analysis and recommendations for your company regarding the competitive landscape.
To cover the costs of the market research and analysis, the fee for a Core Competitive Analysis market research project is $550.
Please contact WISC at 262-472-1365 or email@example.com if you would like to learn more about this type of research project or get one started.
Develop more effective competitive strategies with research that:
Contact WISC today at 262-472-1365 or firstname.lastname@example.org to learn more about Competitive Analysis research.
Need more information about your competition than what the Core Analysis project covers? Contract with WISC to conduct interviews with your company's competitors as part of an Advanced Competitive Analysis.
Advanced Competitive Analysis
In addition to all of the research in the Core Competitive Analysis, WISC market research analysts will place calls to your competitors to get the perspective of their public relations or marketing representatives on the company's strengths, appeal to customers and more. WISC analysts, who are experienced at conducting interviews with company representatives, will contact a sample of your competitors to learn more about how they view the market, trends in the industry, and how they position their company from a marketing perspective.
The WISC director will design a customized phone interview script based on your business needs. Then, student researchers place the calls, gather up to 20 interviews from representative companies, and analyze the results along with all of the information gathered in the Core Competitive Analysis.
To cover the costs associated with phone interviews and analysis of the interview results, in addition to the Core Competitive Analysis components, the fees for the Advanced Competitive Analysis range from $1,550 to $2,160 depending on the scope of the project. Companies with fewer compeitiors or seeking fewer interviews will see fees on the lower side of the price range.
In an Advanced Competitive Analysis, the WISC team:
Contact WISC at 262-472-1365 or email@example.com to learn more about a custom Advanced Competitive Analysis project for your company or innovation.
WISC new product market exploration gets you essential feedback on potential new products early on in the development process before you make a large investment. With the market feedback WISC collects and analyzes, you will learn the strengths and weaknesses of your idea from the customer point of view. WISC helps you get beyond your network to gather opinions on your product idea from people who know your market best. The WISC New Product Feasibility Study research analyzes market need, trends, and competition that would affect the likelihood of product success.
Having this early-stage market research means you will be able to invest in the ideas with the greatest potential and scrap ideas that seem unlikely to gain traction in the market. Basing new product development decisions on real-world data vastly improves your odds of recovering your investment costs and making a profit once you launch your new product. Pricing sensitivity in the market plays a crucial role in predicting your success. WISC will investigate optimal price ranges based on competition and customer perceptions on value discovered through the interview or survey results.
To collect real-world data on customer preferences, perceptions, and needs for your new product concept, WISC employs expert-designed primary market research. WISC market research analysts conduct interviews and surveys to gather feedback on the level of need and customer preferences for your proposed product. When products will be sold through stores, WISC places phone calls to store representatives who provide feedback based on their first-hand knowledge of customer preferences.When it comes to new product development, success depends on overcoming obstacles along the road to commercialization. Early stage market research supports more profitable decisions for innovative companies and individual inventors. Identifying the strengths and weaknesses of new products at an early stage saves time and money and enables you to focus on product ideas that are likely to succeed.
The best time to find out that a product idea is likely to succeed or fail is early in the process, before too much time and money have been invested. For products with promise, having an objective third-party evaluation may result in stronger investor or licensing partner interest.
What is included in WISC's new product market feasibility research?
The New Product Market Feasibility Study report provides a preliminary assessment of the following:
How does WISC conduct New Product Feasibility research?
UW-Whitewater students, employed as market research analysts and supervised by an expert market research director, analyze internet and business database information, and conduct interviews or surveys to gather real-world opinions about market opportunities and challenges.
How will WISC make sure they don't reveal my product idea?
Confidentiality of the product idea is always protected. All individuals involved with WISC have signed a nondisclosure agreement saying that they will not disclose information about submitted inventions to anyone. WISC only talks about the benefits to customers and the problems your product solves for consumers, not how it solves the problem. Design elements will not be disclosed at any time outside the organization. If you have more questions about how WISC can conduct research without giving away your product idea, please give us a call at (262) 472-1365 to set up a time to talk with the WISC director.
An assessment of your major competition to review what makes your product unique. Competition includes any product or service that solves the same problem or provides a similar benefit as your product idea. WISC researchers search the internet and business databases, and perform a preliminary patent search to uncover any existing similar products. Then they follow up by phone to selected companies with the most closely related products and patents to learn what those companies know about the market for products like yours.
User Need Estimates
We'll use our industry contacts and/or an analysis of published market studies to assist in estimating the true market demand for your new product. Interviews or surveys with target market experts provide insights into what your customers want.
Analysis and summary of relevant trends (e.g., industry, regulatory, and/or demographic) accessed via trade association reports, published market studies, and other sources.
6 to 9 weeks (30 to 45 business days)
Click on the links below to view sample New Product Assessment reports. These are not based on real inventions, but they will give you an idea of what an actual WISC New Product Assessment report contains. Please call (262) 472-1365 or email firstname.lastname@example.org if you would like to talk with someone about WISC market research services.
New Product Assessment Sample: Warhawk Therapeutic Technologies
New Product Assessment Sample: Automatic Playing Card Shuffler
New Product Assessment Sample: Wander Away TattleTale
Starting a New Product Assessment Project
Customized Research for Your B2B Marketing Decisions
The Wisconsin Innovation Service Center (WISC) designs market research projects in conversation with company leaders to make sure the market analysis answers your most important business development questions. Custom Market Assessments represent the majority of the research WISC conducts, but companies may also want to look into WISC Advanced Competitive Analysis services.
What are some things WISC market research can help you learn?
Market research project deliverables include a custom prospect list of companies by market sector with contact information.
Get the information you need for your business development decisions through top-notch, University-supported market research.
A WISC Market Assessment helps you achieve the following:
The Wisconsin Innovation Service Center (WISC) brings over 30 years of expertise and recognized quality to every project.
See our About WISC page for client testimonials.
Click here to read a case study about hor WISC market research helped HUI Manufacturing create double-digit growth.
What does it cost?
WISC develops and implements customized research plans to fit the specific strengths and needs of each company. Fees cover operational costs including student employee wages. A typical market assessment costs between $2,800 and $3,600. Exact fees vary depending on the project objectives and research methods.
How long does it take?
B2B research projects are usually completed within 45 to 60 business days (9 to 12 weeks).
Contact WISC at (262) 472-1365 or at email@example.com for more information and to get started on a market assessment project for your company.