This online, quantitative study was performed within multiple market segments to evaluate interest in a new product. This new communications product requires both an upfront cost for initial purchase and an ongoing operating cost. With an understanding of the potential consumer, recommendations were provided that quantified the market opportunities and identified the most appealing price model, considering price for feature set. The most popular naming options and product descriptions were ranked. Specific recommendations, including the winning name, price point with feature set, and the market opportunity available for this product, were provided.
|completion date:||April 2014
|the approach:||Market in View surveyed consumers who currently use, or would consider using, communication equipment and services similar to this product. The initial purchase price, four additional operating price points, and associated feature sets were analyzed. The leading reasons for the price/feature selection and the likelihood to purchase provided valuable consumer information for the launch of this product. After evaluating name preferences by subgroups using multiple name options and write in suggestions, the winning name was identified. Likewise, the most appealing product description was determined.|
|the results:||Market in View’s research and analysis resulted in a complete solution recommendation, including the specific price/feature set on which to focus marketing efforts, the market opportunity available, and most appealing name and description for the new product. As a result of the recommendations covering the key elements, the client was able to move forward with confidence in their product launch.|