Product Concept Testing: Market Research Methodologies
Qualitative research methodologies can help uncover meaningful insights about your target markets through in-depth interviews and focus group discussions. In contrast, quantitative methodologies can help you reach a statistically significant consensus by surveying hundreds of people.
Qualitative concept testing methodologies offer exploratory insights using which businesses can develop B2B messaging frameworks and value propositions in line with target markets. At Infiniti, we strongly recommend businesses begin with qualitative research and then conduct quantitative research to be well-equipped with all the questions and insights required to move ahead.
At Infiniti, we adopt a holistic approach to analyze and find specific customer segments with a high affinity for the new product or service. We assist our clients across the product development journey by helping them gather and analyze market data.
Our concept testing market research services cover different
stages of new concept design and product development, including:
Concept evaluation and product development
Evaluating ideas and determining market affinity can help define
product success at an earlier stage prior to development. Concept evaluation
can also help refine product features enabling you to focus on what matters to
your consumers rather than adopting a generic vision.
Marketing strategy creation
Concept testing research insights can be leveraged across all
stages of product development. It can be used to develop promotional campaigns or
to gauge the impact of your marketing campaigns.
Pricing and promotions
Concept testing research can help you find the best price
point for your new product or service. Hence, it turns out to be a fail-proof way
of verifying your ideal price point, understanding which customer groups to target
at specific price points, and creating personalized marketing messages.
What makes us stand apart? With the expertise gained by working with clients across industries, weve implemented several comparative concept testing standards related to specific industry segments, helping simplify and streamline the concept evaluation process. Request a free proposal to know more.
Why Concept Testing Research is Important
Concept testing research is crucial if youre looking to
launch a new product or service as it empowers businesses to analyze market affinity
for a product idea even before development.
A few applications include:
- Identifying products with a low-profit potential
- Optimizing marketing messages
- Identifying appropriate sales and distribution channels
- Analyzing new market segments
- Understanding the market size for new products
Request a brochure to gain in-depth insights into our solution portfolio and learn how you can benefit by collaborating with us.
How Infinitis Approach to Concept Testing Research Can
Help
We adopt a comprehensive approach comprising qualitative and
quantitative research to help our clients analyze target market needs and
devise value propositions in line with those needs. The initial phase focuses
on needs assessment, market evaluation, and concept analysis which empowers
businesses with insights on market segments, customer needs, competitive dynamics,
and the purchase intent at various price levels.
If youd like to know how our custom market research solutions can accelerate concept development and testing, request more info.
We help our clients make smarter decisions to achieve rapid business growth
Our strength lies in the unrivaled diversity of our international market research teams, innovative research methodologies, and unique viewpoints that merge seamlessly to offer customized solutions for your every business requirement.
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