Agility in Market Research – The Solution for Faster Innovations?
Agile market research and agility are on everyone’s lips, and the pandemic has clearly shown that companies must be able to quickly and efficiently adapt to new market conditions. Innovation cycles are becoming faster and both corporate and institutional market research are called upon to provide appropriate solutions for these developments.
However, in practice, agile market research often fails due to the complexity of internal processes in many companies.
Agile market research versus complex processes
The following aspects hinder flexibility:
- Long internal decision-making processes, especially when multiple stakeholders are involved in decision-making. Many hierarchical levels require long lead times. Validations are often demanded in different phases of the process, which can further prolong the decision-making process.
- Germany does not have a real “test and learn” mentality. Even though companies like to proclaim this internally, the tolerance or even the conscious allowance of mistakes, as well as the real willingness to learn from them, is often limited.
Market research plays a significant role in the entire process. The results of market research studies still play an important role in the different stages of decision-making. This is right and important, but increasingly gives the impression that market research slows down the process.
However, market research can be used and managed in agile sprints along the entire innovation process! Then, fast and regular insights generation and better use of existing insights can even significantly accelerate the launch processes.
Discover our innovation workshop! Using various creativity techniques such as Synectics, a moderated creative brainstorming method, or Design thinking, a 6-step ideation concept, you will develop innovative product ideas and product concepts in a team. These will be selected, elaborated, and converted into verbal and product concepts.
At the end of the day, you will receive a broad pool of product ideas for your short- or medium-term innovation pipeline. You will review the concepts for economic feasibility and select them for subsequent validation for successful launch.