Methods of Gathering Market Information in New Products Development

Abstract

The aim of the study is to present the extent to which domestic medium-high and high-technology companies use different ways to collect market information for the development of new products and how these ways relate to the new product success. These attitudes to collect market information were divided into two groups. The first, related to conducting marketing re-search (e.g. conducting own marketing research, using marketing research reports), and the second group that does not require the implementation of marketing research (e.g. personal contacts with distributors, penetration of the Internet, meetings with sales representatives). To achieve the pur-pose of the work we used data from a survey conducted among domestic medium-high and high-technology companies who employed at least 49 people. Our results show that among the surveyed companies dominate other ways of gathering market information than marketing research (e.g. penetration of Internet, personal contacts), while the collection of information by marketing occurred to a lesser extent. It turned out that applying marketing research and other ways of obtaining information had a positive impact on the new products performance. In particular, we have found a positive impact on the success of new products the following activities: undertaking marketing research committed for a given new product project, applying various marketing re-search studies, using personal contacts with external parties, monitoring professional magazines and other traditional media, penetrating the Internet or regular meetings with employees.