Concept Testing
Launching a new product or brand can be an expensive exercise,
not only in terms of the investment required to get it to market,
but also the ramifications if you get it wrong.
We can minimize the risk for you by understanding its likely
success in the market and the bundle of features, benefits,
messages and price points that will maximize its appeal. Not only
can we advise on the "go/no go" decision, but also how the offering
could be structured to ensure its success and "own" a competitive
point of difference.
We use a combination of qualitative and quantitative approaches to
understand both the context of potential use and conditions for
appeal, and also validate the size of the opportunity.
Questions we can answer:
- What motivates people to choose a product (in your category)?
And what prevents them, despite being interested?
- What would make them choose your idea of a product over a
competitor?
- What features/benefits would they want from your
product?
- What does the optimum price point and POS channel looks
like?
- What compelling messages would "hook" them?
- What specific strategies would convert them?
- What strategies would retain them "for life" and also influence
referral?
- What is the potential market size? What share can you expect if
you get the elements right?
