but the signs we've seen in our business are extremely encouraging right now.
Waltham, MA (PRWEB) September 29, 2009
Gerry Katz, Executive Vice President of Applied Marketing Science, is ready to call the U.S. recession officially over. "I'm not an economist," jokes Katz, "but the signs we've seen in our business are extremely encouraging right now."
Applied Marketing Science consults on large-ticket Voice of the Customer market research studies focused on new product development initiatives. The company has clients in diverse sectors - many key to the health of the U.S. economy - such as health care, building products, consumer goods, and industrial products. "When the economy is slow, there is a dramatic impact on companies' budgets for new product development research," says Katz, whose company saw a significant slowdown in business starting in the third quarter of 2008 and extending into early 2009. "There were certainly some dark days last winter, but things began to really turn around for several of our clients in late spring of this year, and their spending on Voice of the Customer and other new product development initiatives has certainly started to bounce back."
Especially significant, he notes, is the fact that small-ticket items - such as the company's online brainstorming tool, IDEALYST - are also seeing a jump in inquiries and sales. "Many companies," says Katz, "were reluctant to spend even a few thousand on a tool that could save them hundreds of thousands in long-term product development costs. But, as Sean Maloney, an Executive Vice President with Intel, said, 'You recover from a recession with tomorrow's products, not today's.' Now, it appears that companies both large and small, are starting to heed that advice, and are investing in new product development again."
About Applied Marketing Science
Applied Marketing Science is one of the leading Voice of the Customer consulting companies in the world, with proven methodologies for gathering the Voice of the Customer, training and coaching clients in VOC methods, and idea generation and evaluation using state-of-the-art, web-based tools. Over the past twenty years, we have helped hundreds of clients in a broad range of industries incorporate "best practices" into their product development processes. Founded in 1989 with roots in the MIT Sloan School, AMS offers an array of services to meet client needs, and specializes in developing customized solutions for each situation.
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