Bringing your ideas out of the boardroom and into the marketplace is very risky and costly. The assurance that the new concept or product will yield the necessary return on investment is priceless.
Global Vox Populi sophisticated analytical and methodological arsenal addresses our client’s unique challenges and delivers the relevant, accurate information required to develop and launch new market offerings or reconfigure existing ones. Use Global Vox Populi’s research methodologies to test your concept or product in the most relevant way for your business across the geographies.
Choose from Monadic, Proto-monadic, paired comparison, and Sequential Monadic tests, delivered with the expertise of Global Vox Populi’s concept testing market research practitioners.
Our Range of Methodologies Answers:
- Which attributes increase satisfaction and are most important
- What drives consumer preference of one product over another
- How changing positioning, formulation pricing, or line-up changes consumer interest
Depending on the research objectives, we enable our clients to assess their product’s performance during development, benchmark their product against the competition, and forecast revenue and incremental volume.
Why Concept Testing – Research Matters:
- Concept testing re-shape and refine ideas so they have greater potential for market acceptance
- Specifically, concept testing indicate concentrated segments of the population to which the product appeals
- Assess the relative appeal of alternative product ideas, configurations and positions
- Features desirable to the targeted market segments are indicated and highlighted
- Provides necessary information for developing the product and its promotion, distribution, and pricing
Concept testing, when made actionable, will laser focus our client’s products and priorities. Specifically, concept testing has the ability to improve the product, shift priorities, and increase the product-market match, like:
- Road-map of development priorities: development plans are cancelled for new features because of low importance to customers and high associated development costs
- Scheduling and launch priorities: based on the concept testing, a product is given higher priority for launch because of a demonstrated greater market potential. the concept testing identifies not only market potential but may identify problems leading to potential failure at launch
- Potential new uses: new product uses are discovered through a new product concept testing that may potentially double product sales
- Product superiority: new features are added to the existing product to meet the demands of customers before the competition responds. the proposed features of greatest value now receive top priority for development and implementation. the product gains a competitive advantage by further distancing itself from the competition. concept testing help our client’s to prioritize and implement ahead of the competition
- Eliminate product deficiency: the current product design is evaluated and performance tests reveal flaws in the design and implementation. this information is verified in the new concept testing
- Promotion planning: concept testing combined with market analysis provide understanding of who is buying and where they can be reached. most importantly we identify the message that motivates customers to respond
- Increased profitability: concept testing shows that we are delivering the best value in the market and have room for a 10% increase in price for the new product
Concept Testing Solutions:
- Concept development
- Concept testing
- Concept optimization