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Parker helps shepherd your next big idea through the NPD funnel. If your company uses Stage-Gate or a similar model, we can also help you have the appropriate level of consumer insights for your next decision point.
Utilize consumer insight early on. Pay attention to the benefits sought in existing or new products and services.
Understand the consumer “hot-buttons,” and the degree to which potential features, characteristics, and enhancements could drive interest and passion.
Parker's moderators are well-versed in many industries and categories. They are skilled at intelligently and creatively unearthing deep-rooted preferences and the links to concept optimization. They do this utilizing leading-edge, qualitative research techniques and managing time and group dynamics at the research session.
Screening You are rewarded when top tier ideas are identified quickly, as it is important to “weed out” weaker ideas so R&D time and dollars are applied to ideas with the highest likelihood of introduction and success.
Analyze which concepts meet or exceed your hurdle rates, instead of generic success criteria. Hurdle rates could include comparison to other test stimuli, current or control stimuli, competitive benchmarks, and Parker's NORMATIVE database against the following: Purchase Intent and other key measures, Strong Niche Appeal, Profitability / ROI, Trial Projections.
You are moving forward with an optimal concept that resonates well with consumers and your target market segment. It's now time to refine your idea and optimize a variety of marketing variables associated with your product or service. Some of the types of research we often do at this stage include:
Increasingly, clients are looking for early-stage projections of market potential (dollars, units). Generally, this research is not designed to be a replacement for much more comprehensive, later-stage volumetrics. The learning Parker provides at this juncture in the New Product Development process can help with:
Market segment projections are often tied to the perceived VALUE of the product or service. That is why we tie projections to pricing research. This allows us to look at the conjoined analysis between price, trial, repeat, revenue, and gross margin giving you a clearer picture of what lies ahead.
Before you launch, you'll want to get some feedback from consumers actually using your product or service.
Often times, it is best to test this in the consumers' natural environment, particularly if the product or service is meant to provide benefits which would be most felt in a more practical, real-life setting.
In other situations, a controlled environment like PrecisionScan II may be a preferred setting for consumer interaction with new product prototypes.
Getting the product formulation of a food or beverage product to suit the most people within your target market segment is often done diagnostically using creative Just-About-Right questioning.