How does a health benefits company determine what new products will be introduced? Is this effective? Why or why not? (If you do not know how a health benefits company makes this determination, answer the questions based on how you think this may occur OR how it should occur.)
What are the market research methodologies that are used within a health benefits company (or that could be used) to determine new products or to enhance existing products? How is this information used to make decisions and affect outcomes?
A health benefits company conducts extensive primary and secondary research to identify the needs/wants of the consumers and latest trends in the marketplace and design its product accordingly to suit the preferences and needs of the customers. A combination of primary and secondary research which includes gathering intelligence input about competitor's offerings, trends, preferred product choices, consumer decision making criteria, ...
Discussion Question: market research for products for a health benefits company