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.
- 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
- 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.
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.