Solving a product development dilemma: New software rapidly captures the “voice of the customer”

When it comes to product development, all companies are increasingly being faced by the need to radically reduce new product failure rates, while at the same time deliver new products to market much faster. This dilemma is most obvious in the consumer market, which now has an insatiable appetite for “new” products, but where the product failure rate is 80 percent or more. In an effort to reduce the failure rate, many companies now employ teams of psychologists and marketers to undertake extensive “voice of the customer” research.