We developed an economical approach to find and quantitatively survey 3 groups of consumers each sized at less than 1% of total population and determined purchase intent for a targeted product to complete a complex market driven business case.
|completion date:||May 2005|
|the approach:||Three consumer groups, totaling over 1500 respondents, participated in an online survey of new product concepts. Two unbranded concepts were presented, along with three different price points, to evaluate market demand, purchase interest, and market potential.|
|the results:||Using a monadic rotation of the three price points, we were able to determine price sensitivity and purchase intent for each of the concepts among the three consumer groups. Consumer perceptions, as well as, market demand were also analyzed. A complete market driven complex business case was presented, including primary target group and top concept for maximizing revenues.|