Radius Global Market Research Launches OptionDeveloper(TM) to Help Marketers Optimize Product and Service Offerings

Custom simulator identifies offerings that yield highest consumer interest.

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May 25, 2010, 08:00 ET

NEW YORK, May 25 /PRNewswire/ -- Radius Global Market Research, a leading global market research firm, recently introduced Radius OptionDeveloper™, a proprietary tool that provides a way for marketers to anticipate and optimize consumer response to new product and service introductions and existing reconfigurations.

OptionDeveloper was developed specifically in response to marketers need to more cost effectively navigate and manage new and existing products and services, as well as identify opportunities to earn share from competitors by better fulfilling consumer needs. Radius' proprietary simulator allows the researcher to efficiently create alternative product configurations to identify the optimal offer against current and potential competitive scenarios.

"Until now, testing all the possible combinations of product and service options has been prohibitive in cost and timing," says Chip Lister, managing director of Radius. "OptionDeveloper is valuable to marketers who must configure a product that is built from various components, or to configure a service from various features."

In addition to product introductions and reconfigurations, OptionDeveloper can yield great insights as marketers look to maximize their business with pricing actions, new packaging, targeting segments, and communicating key benefits.

"A key benefit of OptionDeveloper is its flexibility," adds Lister. "From simple product development issues to highly complex product or service bundles, OptionDeveloper reveals critical dimensions that influence consumers' choices."

Regardless of the complexity of the marketing issue, OptionDeveloper remains easy to use. At the core of the product is an Excel-based Simulator that offers a simple point-and-click interface that allows marketers to easily consider alternative market scenarios.

Radius' OptionDeveloper is part of a comprehensive suite of proprietary tools that help marketers address a multitude of development, marketing, and communications issues.

About Radius Global Market Research

Radius Global Market Research (formerly Data Development Worldwide) is one of the largest independent market research companies in the U.S. The company's proprietary tools provide unique insights, effective processes and unmatched experience resulting in proven return on investment for leading global marketers in categories including: consumer products, financial services, pharmaceutical, communications, and traditional/new media.

The firm is No. 30 on the Honomichl listing of the top 50 U.S. market research organizations. Headquartered in New York, Radius employs more than 100 people in key markets throughout the U.S. More information: www.radius-global.com.

SOURCE Radius Global Market Research