Market research companies specializing in development and testing of new products. Locate a firm to conduct evaluations of new products or services through methods such as in-use studies, blind product tests, at-home tests, (un)identified tests, product placement tests, in home usage tests, etc.
Packaging designers and engineers partner with insights professionals to identify and deliver against unmet consumer needs. Once you clear the myths of consumer research, you are more likely to ensure collaboration between the creative and research disciplines and to enrich the effectiveness of the innovation toolbox.
Pankaj Kumar, Westley Ritz and Rajan Sambandam of TRC
Feature prioritization is a very common new product research problem. Over the last few years, the most popular technique has been Max-Diff. However, as the number of features increases it becomes difficult to use. Bracket is a tournament-based approach that produces Max-Diff like results and can easily prioritize fifty or more features.
While finding the right new product or service is a pretty high hurdle in and of itself, there’s also the marketing plan and the often overlooked execution plan to consider. Here are three steps you can take to keep all the parts of the marketing plan heading in the same direction as you roll it out into market.
It is common to think about using conjoint / discrete choice to configure products and test pricing, but it also extremely useful for finding opportunities to shrink product lines, testing whether additional products cannibalize or add to preference, and uncovering segments and aligning products with their preferences.
Conjoint analysis is a powerful tool for predicting market reaction to changes in existing products or services or completely new products. But how well do conjoint model results translate into real world results? And can you predict revenue from conjoint results?