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Market Requirements

You've Got Questions. Innovaxis Finds the Answers 

You've got an idea for a new product or service—now what? From hardware to software, Innovaxis has helped our clients launch numerous flagship products globally. We begin by defining key market requirements and creating a product/market requirements document (PRD/MRD) that will guide the development team. We will then conduct a market feasibility analysis to determine if the product concept can be profitable. We will even work with your product management and/or engineering teams to create a product specification and to guide the development process until the product is ready to ship.

The Innovaxis Advantage

Some describe this market research process as "gathering requirements." Rather than picking them up off the ground, we elicit and understand requirements by directly interviewing your customers, channel partners and other key influencers. Market requirements cover product functionality, performance, human factors, pricing, availability, warranty coverage, and maintenance.

But Wait, There's More...

Once the PRD/MRD is created, it needs to be communicated to those on your team responsible for developing the new product or service (i.e. engineers, programmers, service providers, etc.). Inevitably, there will need to be compromise between what can be developed in a profitable manner and what your target market will accept. Innovaxis can manage this process along with design reviews to keep development on track.

To learn more about our market research services, contact us.