Product Testing will aid a marketer in answering business questions pertaining to product performance as well as factors impacting said performance

In an increasingly competitive business landscape, it is the strength of the product that determines your success. Product Testing uses advanced analytics tools to better characterize and identify the elements of a product that are working well and those that are not. We also help our clients create normative databases using statistical techniques in order to integrate non-standardized data sets.

Objective

  • To evaluate the likeability and acceptability of an offer and determine its future potential
  • To identify and characterize important product elements
  • To identify and establish structural relationships between various product attributes

Examples:

  • A candy manufacturer is considering a change in the texture of their candy. They have developed 3 prototypes and wish to determine the option best suited for introduction to the market.
  • A tea manufacturer is considering altering the existing blend used in its tea bags. It has developed 8 options. Which blend should they go ahead with?
  • A biscuit manufacturer has been operating in the category for a long time. However, it has not been able to make a mark of its own. It wishes to understand its product performance in the market and as compared to its competitors.
  • A soap manufacturer wants to analyze and ascertain the relationships between the various elements which impact product experience - colour, smell, lather, etc. This will help the product developers to make the right adjustments in order to create an improved product.

Solution

Product Testing will aid a marketer in answering business questions pertaining to product performance as well as factors impacting said performance. It uses techniques like correspondence analysis, structural equation modelling, turf analysis, multi-dimension scaling, and penalty analysis in order to arrive at accurate and practical solutions.