Developing New Products & Services: New Product Optimization

Challenge

A leading multinational electronics retailer faced a significant challenge with a recently launched service designed to assist caregivers of seniors in monitoring their aging parents. This service aimed to empower seniors to live independently for longer, providing peace of mind to their caregivers. However, the service was not selling as expected, prompting the retailer to seek a deeper understanding of the target market’s needs and purchase decision processes.

The retailer partnered with SIVO to conduct in-depth research to uncover the root causes of the service’s underperformance and identify strategies to better connect with caregivers and seniors. The goal was to refine the service’s messaging and positioning to resonate more effectively with the target audience.

Approach

SIVO employed a multi-phase, multifaceted qualitative research approach to address the retailer’s challenges. This approach involved a combination of one-on-one in-home interviews with seniors and their caregivers. Recognizing that caregivers often play a pivotal role in seniors’ decision-making, SIVO’s research focused on both groups to gain comprehensive insights.

The first phase of the research concentrated on understanding the daily lives, concerns, and needs of seniors, as well as their perceptions of the new service. Through empathetic and respectful in-home interviews, SIVO researchers delved into the emotional and practical aspects of senior living. By fostering a comfortable environment, the seniors felt more at ease sharing their thoughts and opinions.

The second phase of the research involved engaging with caregivers. SIVO recognized the importance of understanding caregivers’ perspectives, as they are often the ones making purchasing decisions on behalf of their aging parents. Through individual interviews and small group discussions, SIVO explored caregivers’ motivations, concerns, and the factors that influence their decision-making process.

To enhance the quality of insights, SIVO carefully designed the research to include both individual and group settings, knowing when to keep segments separate and when to bring seniors and caregivers together. This strategic approach ensured that the research captured the nuances of both groups’ experiences while also identifying common themes that could inform the service’s positioning.

Key Findings

SIVO’s research uncovered valuable insights that significantly influenced the retailer’s strategic approach. The research highlighted the importance of carefully selecting language that resonates positively with the target audience. Additionally, the study revealed that the endorsement of the service by trusted sources played a key role in building acceptance and trust among both seniors and caregivers.

The findings also underscored the need to create a comfortable and trusting environment for participants to share their thoughts. SIVO’s established methodologies, such as thoughtful pre-interview preparations and the careful management of research settings, were instrumental in fostering open and honest communication.

Impact

The insights derived from SIVO’s research provided the retailer with a clear path to refining their messaging and communication strategies. By aligning the service more closely with the values and preferences of the target audience, the retailer was better positioned to meet their needs effectively.

This foundational knowledge also had broader implications, contributing to the retailer’s successful expansion into a new market and solidifying its reputation as an innovator in the industry.

Unlock Your Success with SIVO

At SIVO, we understand the importance of deeply understanding your target audience to drive meaningful business outcomes. Our tailored qualitative exploration research approaches uncover the insights that lead to informed decisions, impactful positioning, and successful product launches. 

If you’re looking to optimize your product or service offerings, contact us today to see how we can help you achieve your goals.