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Product FeedbackA key step in the product development process is figuring out what existing and potential customers are looking for in the next release of a product. Market Research (MR) - either through a formal process or through a combination of secondary research and informal straw polls - has usually played an important part in gathering relevant information pertaining to this step. With the rise of social networking and the proliferation of specialist sites for reviewing product categories, the volume of user buzz in the online universe, today, is statistically significant enough to make it worthwhile for brand managers to start listening in to the conversations.
Brand Algorithms' Product Feedback solution allows a client to extract online brand conversations and product category conversations, across channels, in near real-time. These conversations can then be analysed for product trends, future feature-desiderata, user-valued technology breakthroughs relating to the product category, and other such information from a consumer's point of view.
Given that designing and executing MR surveys can be extremely time and resource-intensive, the Product Feedback solution allows a client to keep a pulse on its market at all times, and with receipt of near real-time data.