Concept Testing / Validation
Acentric’s standardized concept test surveys answer four key questions:
- How viable is the new product / business concept?
- What segments should I target?
- What price should I charge?
- What features improvements have the biggest upside?
Survey participants are shown the essence of your idea in the form of a concept board
All you need to get started is a concept. Alternatively, if you don't have time, you can point out a product or service your are interested and the concept board can be created for a small additional fee. Typically this includes a text introducing the concept, any features and benefits and sometimes an image if applicable. At this point price is not shown in order to obtain feedback on the concept without distortions introduced by pricing.
Performance on standard ratings
Concept performance is measured on a standard set of indicators and can either be compared to specific competitors or if none exist, a rough indication can be obtained by comparing to norms from previous concept test surveys. A widely used set of measures known to relate to performance are included: uniqueness, relevance, ease of understanding, believability, buzz factor and liking. Purchase intention is also included, but interpreted in a different way. The standard is to include this as unpriced, however priced intention may also be asked afterwards if specific prices are available.
Optionally, ballpark forecasts can be provided based on input from the concept test results and possible marketing support scenarios.
The form this takes depends on the market. For instance, in the case of frequently purchased items, this takes the form of a forecast 12 months ahead of the percentage of the population making a trial purchase of the product / service. In the case of durables, this may take the form of a share of preference versus key competitors.
Identify features to improve
A custom list of features (applicable to your specific concept) is rated by respondents. Feature improvements that have the largest upside potential - in terms of increasing purchase intent - are identified.
Identify Target Segments
Identify segments that are most interested in purchasing.
Determine acceptable price
Acceptable price ranges are determined for each participant using a modified form of van Westendorp. The percentage accepting each price point can then be calculated and plotted.
Survey participants weighted for good representation
Your concept is added to a standardized online survey, with an allowance for custom questions appended at the end. Sample weights are calculated for your survey that correct for any differences between demographic representation in your sample and the known representation in the online population (according to census or other reliable data sources).
- Includes questionnaire setup with your concept description and images. Your concept is added to a standardized online survey; custom questions can be appended as needed.
- Includes recruitment and incentivization of online survey panelists.
- Includes a RIM weighting process to ensure representation of the general online population on key demographics.
- Standard statistical analysis.
- Includes a presentation ready PowerPoint report. Your report will include a methodology section; graphs; tables with significant difference calculations to identify areas of interest; written interpretation and key takeout slides to clarify research findings. You will also be provided with the verbatim responses given by respondents to open-ended questions on a supplementary spreadsheet.
- Timeline: approximately 7 to 15 working days post approval of the final questionnaire.
For more background on concept testing click here.
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