Finding
Survey participants indicated that the primary trigger for developing a NEW product is the competitive landscape, while surprisingly, customers’ requests had the least amount of influence.
Insights
Companies may be overly focused on reacting to competitors and industry trends, rather than proactively addressing customer needs and pain points.
Action Steps
Voice of Customer (VoC) Research is an often-overlooked tool for not only ensuring customer satisfaction, but for gaining market insights that lead to competitive advantages.