It is always possible to trust your intuition and presume what customers would like. However, according to world statistics, 80% of new products die within one year of being on the market. Today, only the products that provide functional and emotional satisfaction have a chance to survive. The creation of such products requires clearer objectives and precise calculations.
ACT provides a variety of research services at any stage of product development – designing concepts, creating new products, improving existing products and marketing mixes, or developing promotional campaigns.
Research during product development/modification will help you design the most suitable products for customers, devise effective growth strategies, and increase the success of your product.
Product potential research is especially valuable to assess how appropriate the initiative is based on its concept, product traits, and marketing strategies. Marketing risks cost companies a fortune, therefore, prior evaluation of product potential is a critical precondition for any business decision.
Testing new concepts:
– What are the main advantages and disadvantages of the concept;
– How do customers react to similar products;
– How appropriate is the concept for the company/brand;
– What changes are required to accommodate the preferences of potential customers?
– What are the main advantages and disadvantages of the product;
– Which characteristics of the product influence its perception/and purchase decision;
– Which combination of traits make the product the most appealing to consumers?
– How appealing and convenient is the packaging for consumers;
– What does the packaging communicate;
– Does the packaging incite a desire to purchase?
Product Potential Index of ACT
– How interesting is the concept, name, packaging and price of the offered product;
– What are the expected sales based on the concept, name, price, and packaging of a product;
– Which factors influence and stimulate the purchase decision?