Lessons Learned: Improving Online Concept Test Scores
Our analytical tools can help our clients create products and services that have the features their customers are looking for.
Using Online Conjoint Analysis and Discrete Choice, Ipsos Insight can answer the important questions clients have when trying to devise new products and services or improve current ones. Our clients want to know:
- How can I create a product/service that consumers want?
- What features influence the consumer's choice?
- What is the optimal price to charge?
- How can I differentiate my product/service?
- What benefits should be the focus of my advertising strategy?
- Will people pay more for certain features?
- Are there marketing segments for my product/service?
- How do we compare to the competition?
- Will changes to existing products/services gain market share from competitors, while retaining my current customers?
- Can I reduce the number of product varieties in my lineup without impacting market share?
- Which actions by competitors will have the greatest impact on my brand, and what should I do to respond?
- Should I consider placing my product in alternative distribution channels?
Case Study
Using Discrete Choice to maximize profits of a line of household products.
A major packaged goods client wanted to understand how changes in pricing and the upcoming introduction of competitive products would affect the market share of its line of cleaning tools. They were also planning on introducing a simpler product under a different brand name. The client wanted to see which variety of the product should be introduced, and needed to understand the effect cannibalization would have on their market share.
Ipsos Insight conducted an online discrete choice study, surveying nationally representative grocery shoppers. A variety of different groups within the sample were analyzed, including category users, brand users, and competitive users. The simulator deliverable helped the client visually grasp the effects each change would cause. With the assistance of Ipsos Insight, the client understood how the different changes would affect market share and what line of products they should offer customers to maximize profits.
Examples of Deliverables
Attribute Importance
Choosing the features at the top of each line in this deliverable from a conjoint study would create the best concept. As you can see, the lowest priced product is not always the most favored.
Simulators
Make changes to the product's features to see how market share will be affected, both in total and among different segments.
