Product Intelligence

"New" is very important in today's competitive world in the context of "Products". It's an ongoing process for companies to either "Add New Products" or "Add New Features to Existing Products".

Whether it is adding a new product or adding new features to existing product – it comes with huge expense of money, efforts and opportunity. Product intelligence can play a vital role in helping companies take very informed and calculated decisions in product development initiatives.

Following are different research techniques that can be used to support various product decisions:-

Product Development

We help you discover new ideas, launch better products, create loyal and repeat customers, and grow your market share, revenue and profits.

At Knowledge Excel, we can help you determine the best price for your product or service. We understand how customers react to price or size changes and can help you learn which features are most important to include in your product, and which you should develop first. We will guide you to choose the best price strategy when launching a new product and understand which features or offerings should be bundled together to reach the greatest number of people.

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Concept Test

Concept testing involves testing the "idea" of something, rather than the actual thing itself. The concept is communicated with a rough illustration or photograph, along with a written description. Think of a concept as a rough print ad, although concepts can be presented in storyboard or video form.

When launching a new product or service, your business assumes a certain level of risk. Will your product fail miserably or be wildly successful? Could you have prevented failure or increased profitability? Infosurv provides concept testing solutions that can help answer these questions and help you come to market with a proven strategy for success.

Our solutions are custom-tailored to your research problem and typically focus on three stages of the concept testing process: screening, optimization, and final assessment.

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Pricing Research

Price is the quint essential thing which plays a major role in the purchase of a product or service by a customer. In order to determine the right price as low price would create space for suspicion about quality and high price may create the image of offering poor value for money.

In this way, the important thing for a product or service is to set the right price which can cater to the target consumer segment without any burden.

There are many methods followed in researching about the right price which are:

  1. Gabor Granger - Customers are asked whether they would buy or not at random prices and their answers are collaborated in the form of high agreement price zone
  2. Price Sensitivity monitor - Gives the acceptable price range of a customer
  3. Conjoint Analysis - Gives the analysis that goes into a customer's brain while making a trade-off in valuing a product
  4. Brand Price Trade Off (BPTO) - BPTO makes up the impact of price increases or decreases on a product by displaying all the brands at a time.

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