Concept Evaluation
Evaluation takes place at many different times and in different ways, by different people, for different reasons. Therefore , a system of evaluation is needed.
The tools which help in designing an Evaluation System:
- Cumulative Expenditures Curves
- Risk/Payoff Matrix
- Decay Curve
- Planning the Evaluation System
- Everything is tentative
- Potholes
- People Dimension
- Surrogates
- A-T-A-R Model
Early Evaluations:
Concept Testing:
2) To estimate (even crudely) the sales or trial rate the product would enjoy - a sense of market share or a general range of revenue dollars.
3) To help develop the idea, not just test it.
a) Prepare the Concept Statement
b) Define the Respondent Group
c) Select the Response Situation
d) Prepare the Interviewing Sequence
2) Analysis Research Results
a) Identifying Benefit Segments
3) Conjoint Analysis
4) Market Research to support Concept Testing
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- PIC Elimination: In advance and without knowing the concepts, the firm decides to reject the ideas that violate PIC guidelines.
- Market Analysis: In-depth study of market area that the PIC has selected for focus.
- Initial Reaction: Preliminary, inexpensive assessment of concepts, which may be flowing very quickly at this point.
Concept Testing:
- It's Purpose
2) To estimate (even crudely) the sales or trial rate the product would enjoy - a sense of market share or a general range of revenue dollars.
3) To help develop the idea, not just test it.
- It's Phases
a) Prepare the Concept Statement
b) Define the Respondent Group
c) Select the Response Situation
d) Prepare the Interviewing Sequence
2) Analysis Research Results
a) Identifying Benefit Segments
3) Conjoint Analysis
4) Market Research to support Concept Testing
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- Scoring Model
- Screening Model
- Analytic Hierarchy Process