Concept testing sets new products up for success. By validating every aspect of a potential product with an ideal target audience early on, the Product Concept Test helps determine whether the product is positioned for optimum growth in the market. This also allows you to plan your resources effectively for further product improvement before launching.
The Product Concept Test helps you to:
- Identify the product concept that attracts the highest purchase intent.
- Gather respondents’ price perception or price range expectations in comparison to similar products.
- Investigate how your product concepts will influence their purchasing behaviour.
- Analyse consumer perceptions of your product concepts across various attributes, such as clarity, quality and environmental friendliness.
- Gain insights into what respondents liked or disliked about your product concept through their open-ended feedback, summarised by AI.
The survey flow includes 24 questions for each of the two soft drinks.
Product Concept Test surveys can be automatically translated into over 10 languages.
Bring your own respondents or buy quality-assured panel respondents from us.
Product Concept Test is also available as a Market Test Tool, for only 99 USD.
Main outputs of Product Concept Test
Conclusions of overall product concept performance
Which product concept should you go for?
Obtain conclusive results on the performance of your product concepts across all the metrics tested.
For example, the Coca-Cola Classic Soft Drink Bottle 1.25L concept performed better than the Pepsi Cola Soft Drink Bottle 1.25L concept, which received lower overall ratings from respondents.
Purchase intent, likeability, and price expectations
How likeable and valuable is the product?
Determine how likeable your product concepts are to consumers, and the likelihood they would purchase it. In this example, although both concepts show good performance in terms of likeability and purchase intent, the Coca-Cola concept outperforms the Pepsi Cola concept in both aspects.
When prices are not yet determined, the price expectations metric lets you understand how consumers expect your product to be priced compared to similar products in the market. For example, respondents expect to pay more for the Coca-Cola concept than similar products, within the range of $1.30 — $3.20.
Understand how consumers perceive potential prices
How is the product perceived at its given price?
If prices for concepts are already determined, a Priced Product Concept Test can be used to evaluate whether the price is perceived as fair and reasonable for the concepts. In this example, respondents perceived $1.50 as a low price for the Coca-Cola concept.
The same metrics used in the Product Concept Test can be applied to the Priced Product Concept Test, and the outputs will be presented in the same format.
Product concept perceptions
How is each product concept perceived relative to the others?
Investigate the perceptions of consumers toward your product concept, including:
- How new and different the concept is.
- The quality of the product concept.
- Whether it is relevant to consumers.
- How exciting and believable the concept is.
- Whether it is good for their health.
- Whether it is environmentally friendly.
In this example, the Coca-Cola concept outperforms Pepsi Cola in all metrics. However, both concepts are underperforming in respondents’ health and environmental friendliness ratings.
Purchasing behaviours towards product concepts
What is the expected purchasing behaviour with regard to this product concept?
Explore the ways in which consumers will purchase your product, such as:
- The number of units bought per month.
- The number of units bought in addition to similar products.
- The number of units bought per shopping trip.
- Channel of purchase, e.g. supermarkets, convenience stores.
- Estimated customer spending per purchase and per month.
AI text analysis of product concepts
How do consumers really feel about this product concept?
With cutting-edge AI technology, uncover key insights from open-ended questions, categorised into positive and negative responses, to provide balanced justifications of answers in previous questions.