4Jointz is a topical over-the-counter (OTC) medication that relieves pain, stiffness, and swelling associated with arthritis and joint pain. The brand was looking to understand its place in the market for strategic purposes and to validate the decisions being made to investors. Trubridge commissioned Provoke Insights to conduct a 15-minute online survey to meet the following objectives:
Assess the strength of the 4Jointz positioning concepts and claims to assist with a go/no-go decision on the project.
Collect key consumer data as input for a 4Jointz sales forecast
Collect data/benchmarks for investor presentations
Determine the ideal pricing for the product
Provoke Insights proposed an online survey with three goals:
MaxDiff: Eleven claims were tested using an advanced analytics technique called MaxDiff. This trade-off analysis technique helps determine which claims directly influence the purchase process. This questioning forces respondents to make choices between claims which results in a more robust data set. Respondents were randomly presented with five attributes at a time. This is where the max diff is utilized - this analysis predicts what the response will be for each possible combination.
Concept Testing: The survey tested 2 positioning statements using a monadic assessment. Each concept had approximately 300 respondents view it. This methodology provides the most accurate and actionable diagnostic since respondents only evaluate one concept. Additionally, the design allows for the use of normative comparison. After reading the concepts, participants were asked what they liked about the description and if they had feedback or recommendations for the brand.
Pricing Evaluation: The third technique that Provoke Insights utilized was a popular approach called the Van Westendorp model to determine the ideal cost. Named after the Dutch economist Peter Van Westendorp, this advanced analytics technique is based upon establishing “limit” price points for a given item, plotting the frequency distribution of those limits and establishing an acceptable price range. Four price-related questions were asked, which are then evaluated and one distribution for each question is formed.
4Jointz received actionable research from Provoke Insights, with clear findings. The company had recommended claims, concepts, and a price point. The research company was also able to determine the sales forecast for the brand. 4Jointz and its investors were informed to go ahead and launch with great results, using the winning concepts, claim, and price recommended by the target audience.