Leveraging its unique consumer perspective and research and strategy consulting capabilities, Frank N. Magid Associates helps clients identify new product development opportunities based on an analysis of a company's unique value propositions and brand equity, consumer needs and the competitive landscape. A successful product development strategy addresses key questions including:
- What new product opportunities exist in the market based on consumer needs, competitive gaps and evolving technologies?
- What product opportunities best differentiate the client from competitors?
- Which product concepts best align with the company's unique value propositions and brand?
- What is the size of the revenue opportunity and future growth trends?
- How does the target market respond to the features, design, and packaging of various product concepts?
Leveraging Magid's Mobile Expertise, Unique Perspective, and Capabilities to Identify Opportunities in the Mobile Location-Based Advertising Landscape
A division of a leading US wireless carrier that develops and provides geographic information systems wanted to analyze the location-based advertising space to guide their branding, product development and advertising strategies. Applying its mobile expertise and strategic insights, Frank N. Magid Associates conducted an exhaustive deep dive of the location-based advertising landscape, including an analysis of competitors and best practice models in and outside of the industry. Magid also conducted executive interviews with media buyers, ad agency buyers, and advertisers to identify the needs, attitudes and behaviors towards location-based advertising, and the current and future intent to invest in location-based advertising. Magid’s unique perspective of key audience, advertising and technology trends across media platforms provided a filter to analyze the viability and growth potential of the opportunities. The landscape analysis, primary research and Magid’s recommendations guided the client’s entrance strategy into mobile advertising. The success of the engagement has led the firm to continue to leverage Magid’s media and strategic expertise to inform several other key mobile advertising strategies.