This large-scale study assesses the reactions of over 10,000 consumers to five different home security concept descriptions and determines purchase intent for each, as well as identifying key drivers for home security purchases and net potential market share.
|completion date:||April 2008|
|the approach:||Participants were invited to participate in the study through an e-mail. Over 10,000 household decision makers with high-speed internet connections, aged 18 to 59, completed the online survey over eight days.|
|the results:||This complex home security study seeks to understand the appeal of a manufacturer-branded system as contrasted with both an identical product presented under a well-known brand name and an existing national brand benchmark product. Both the manufacturer-branded system and the identical branded product include offerings at two different price points, underscoring the impact of brand and price point in consumer purchase intent and revealing the offering with the most favorable brand/price combination. This study serves as a concrete tool for increasing market share by identifying the percentage of current home security customers with purchase intent, as well as potential market growth, or current purchase intending non-customers, to reveal net projected market share for each of the five product offerings. The survey provides detailed analysis of concept and service likes and dislikes, most effective concept description wording, most important attributes and value ratings, patterns of usage, potential areas of product improvement, user profiles and target demographics. Additionally, participants provide data about their current systems’ attributes, including purchase drivers and their intent to discontinue or replace.|