Consumer Product Strategy For Consumer Product Strategy Professionals
Forrester has a team of analysts, researchers, and data advisors dedicated to understanding what Consumer Product Strategy professionals need to be successful. We can deliver customized solutions in a range of formats to fit your organization's needs: half- or full-day executive Workshops to educate stakeholders; peer or cross-industry benchmarks and competitive insight; strategy assessment, planning, and development.
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Forrester has conducted extensive research and delivered customized consulting solutions on all of the key topics detailed below. For more information, please click on the link that most accurately reflects your business challenge: |
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Forrester's Consumer Product Strategy analysts specialize in PCs, media, audio, telecommunications, and gaming and can quickly assess your challenge and develop a strategy wherever you are in your product life cycle.
Forrester has developed a powerful consulting tool called the Convenience Quotient. The Convenience Quotient predicts how products and services will fare against their direct and indirect competitors within a given market. We calculate a single measurement of convenience for each product in the competitive set by assessing both the benefits a product delivers to consumers as well as the barriers to adoption that exist. The outcome of the analysis reveals areas of strengths and weaknesses for products within the larger context of the relevant market, and provides a roadmap for product improvement.
Learn more about the Convenience Quotient and how it can benefit your consumer product strategy.
Forrester Consulting can help you answer the following questions:
- What are the benefits my product provides to consumers? How do my product's features translate into tangible consumer benefits?
- What are the key barriers that will keep consumers from adopting my product — price, distribution channel, product awareness, etc.?
- What is the appropriate competitive set, including direct competitors and indirect alternatives, to my product or service?
- How do my products rank against competitors in terms of overall convenience? What are the relative strengths and weaknesses of the key competitors in the market, including my own product? Are there indirect alternatives to my product that are more convenient for consumers?
- What should my product road map look like? As we continue to develop our products, what are the areas of greatest improvement that we need to focus on, compared with competitors?
Forrester has applied its POST methodology to mobile strategy design. It's time for consumer-facing firms to design their mobile strategy: mobile is ubiquitous and a combination of a multifunctional device and high-speed data connectivity that allows brands to reach consumers anytime, anywhere. We see firms make the mistake of designing their strategy around what's technically possible, such as SMS alerts. But that's a backwards approach that inevitably leads to a waste of precious resources (i.e., time and budget). Instead, effective mobile strategy design using Forrester's POST methodology starts with an analysis of the mobile behaviors and attitudes of your target customers. It then considers your company's business objectives. Those form the basis for strategy design and the right technology choices.
Forrester Consulting can help you answer the following questions:
- How do I create a coherent mobile strategy?
- How should I evaluate new opportunities that use mobile?
- Is mobile among the emerging technologies that we should use to innovate?
- What are the mobile behaviors of my target audience? Are our mobile programs suitable for the level of mobile maturity of our target audience?
Forrester developed a quantitative tool called the "Content Strategy Review" to help companies assess their digital content strategies and to map their content services against the competitive marketplace. Companies as diverse as technology vendors, CE manufacturers, ISPs, and mobile carriers are building digital content services, yet consumer willingness to pay for content remains unproven. Forrester's Content Strategy Review gives these companies the tools to test the strategic integrity of their content offerings and to identify what they need to do in order to better compete. It helps them understand the specific strengths and weaknesses of competitor services and which best practices can be learned. Forrester's Content Strategy Review is the must-have tool for any company with a digital content strategy.
Forrester Consulting can help you answer the following questions:
- Is my digital content strategy delivering results? Are enough consumers using our content services? Are they generating enough revenue or strategic benefits to justify the investment?
- How can I better monetize our digital content offerings? How can I grow average revenue per customer? How can I revise the value proposition and business models to increase revenue and margins?
- How do our digital content offerings compare with the competitive marketplace? How well positioned are our services compared to those of competitors? Why will some competitor services succeed and others fail?
- Do we have the correct portfolio mix of digital content and services? Is our mix of services the right one? Do our content services successfully complement each other? Do they collectively compete well?
- What criteria should I use to hone strategy in the economic downturn? Which services are most likely to generate ROI and deliver results that complement our strategic objectives?
A methodology that leverages Forrester's proprietary Technographics® data to replicate, validate, critique, and analyze a client's existing segmentation model.
Forrester Consulting can help you answer the following questions:
- Is our existing segmentation model effective and relevant?
- How can we better understand our target consumers?
- Are our segments effectively informing our product strategy?
Custom product forecasting is a custom-created forecast of product or service uptake. Learn more about Forrester's forecasting capabilities and how they can benefit your consumer product strategy.
Forrester Consulting can help you answer the following questions:
- How big is our potential market, and how much of our potential market opportunity can we capture?
- How do we take into consideration recent or current events (like the current economic environment)?