Launching New Products the New Balance Way
For most of history, shoes were made to protect people’s feet from the outside elements. Today, they have evolved from something to keep your feet warm, to status symbols where design is just as important (if not more) as functionality. The sneaker world is booming from millennial demand and professional athletes launching their own brands and endorsements. In fact, by 2022 the global athletic footwear market is expected to reach $114.8 billion.
In this week’s Qualtrics Master Session, Charles Wilson, Product Insights Manager for New Balance, walks us through the company’s customer-first approach to product development, which helps them create products that resonate. Below are three key insights you’ll learn in the webinar.
- You must go beyond knowing what consumers like. While that’s a good first step, it gives you a limited understanding and only answers an immediate question. It doesn’t provide the macro environment context to how and where the consumer will use the product.
- A consumer’s prior experience influences their current one. Product reactions do not exist in isolation. When consumers view the current product, they’re bringing in prior experiences and ideals which unlocks deeper insights.
- Product insights are a continuous process. By viewing product insights as a process and not a single deliverable, you can continue to gain insights in an ever-changing market.
Wilson expands on these concepts and how New Balance learns from its customers. If you want to learn more about developing deeper product insights in your organization, register for the Qualtrics Master Session: Liking Is the First Step: How to Find Your Product’s Fit in a Customer’s Life today.
Qualtrics Master Sessions