We helped our client gain actionable insights into a very specialized market.
While they were already in the process of developing a new pharmacy management software product to replace a much older incumbent, our client wanted to ensure their solutions addressed specific customer needs and wants. They reached out to us to develop a landscape report of the existing market, SWOT analysis, and product differentiators.
Having worked with this client for some time prior to this project, we already had an understanding of their customer base and target market. We segmented their lists of customers, prospects, and industry partners by geography, contact job title, size, maturity, and current levels of engagement. We worked with the client to select individuals who would be fair representations of various key stakeholder groups for questioning.
A detailed discussion with the client gave us insights into where they needed actionable feedback. We set up questionnaires and in-person focus groups targeting a representative sample of each person group. We developed questions in a way that would drive true feedback of the company's existing products, market perception, pain-points, and emerging needs. For example, instead of asking participants for an arbitrary rating of 1-10, we would have them guide us through their current workflow and note where they get caught up. In this way, we were able to ascertain clearer and more actionable insights.
D2 conducted extensive research to develop a list of possible names, and then led several focus groups with customers and stakeholders to gauge emotional appeal and response to the various names to find the best fit.
We led additional and separate stakeholder focus groups to brainstorm and refine the naming scheme for the entire software suite. Out of fifty names, five finalists were decided.
We tied the finalist decision process in with another campaign we were running for the client to boost internal morale. With voting and activities for corporate staff, the final product name was decided overwhelmingly with the benefit that employees felt like they had a say.
D2 conducted an initial trademark review and provided an in-depth report to senior management with recommendations on product naming and a marketing strategy for product go-to-market launch prior to legal review. D2's knowledge helped guide the client away from names that would not qualify for trademark status, saving the client tens of thousands of dollars in legal fees by pre-vetting the list.
Beyond a name, we came up with messaging, graphic design theme, and channels that fit in with the overall company branding system. With all the information we gained from earlier research, the decisions proved to be easy to make and logically defensible.
The product has yet to be released, but the research, naming, and marketing work set the product up for a strong position in the market once it launches/