ongly agre e Indicate your degree of agreement with the following The notebook

# Ongly agre e indicate your degree of agreement with

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ongly agre e Indicate your degree of agreement with the following: The notebook B has/is: Measure perceptions of how well competitor’s product meets needs SURVEY: COMPETITORS
CALCULATE PRODUCT AVERAGES Average importance scores across ALL respondents (5=Extremely important,..1=Not important) PROD Screen Quality Ease of Use Battery Life Light Weight New Concept A 5.0 4.1 3.3 2.2 Notebook B 4.1 4.1 2.3 1.3 Notebook C 3.2 3.1 3.2 3.1 Notebook D 2.1 1.2 3.1 4.2 D
Screen Quality New Concept A (4.1, 5.0) Ease of Use . Notebook B (4.1, 4.1) . Notebook D . Notebook C . 1. Pick 2 most important needs as dimensions. 2. Plot each product average score on the perceptual map. MARKET TEST RESULTS EXAMPLE: PERCEPTUAL MAP FOR NOTEBOOKS A B
SURVEY 23 Top-two-boxes
PURCHASE INTENTIONS Frequency of responses Translation rates Buyers Definitely would buy 30% 50% 15% Probably would buy 30% 20% 6% Might or not might buy 20% 0% Probably would not buy 10% 0% Definitely would not buy 10% 0% 24 Probability of purchase: 21%
SALES FORECASTING 25 Q = sales (annual) N = market size: (annual) purchases A = %awareness and availability P = probability of purchase (surveyed) Q = N x A x P
EXAMPLE Assume you want to predict sales for a new scooter Scoters are currently sold into the market at a rate of 150,000 units per year Assume that awareness and availability in the market is 25% The company calculated that the probability of purchase is 16% 26 Q = 150,000 x .25 X .16 = 6,000 units/ year
ESTIMATING TARGET MARKET SIZE (N) Market size estimation (secondary data) Census (Population, households) Census of Manufacturers Trade association reports Experts Analogous product-market size Target market portion of something known
SOME ACTUAL PURCHASE RATES WITHIN TOP 2 CATEGORIES Definite/probably will buy Home computer 42.9 Cordless phone 12.5 Pump toothpaste 52.2 Diet drink mix 61.5 Fruit sticks 43.5 Text suggests .4 for “definite buy” and .2 for “probably buy”
The DubStein (2013 CES) 29
Acura NSX Concept (2013 NAIAS)
PRODUCT TESTING
ARGUMENTS AGAINST PRODUCT USE TESTING
ARGUMENTS AGAINST PRODUCT TESTING 33 Time Sales Without product testing With product testing Delay in money generation
ARGUMENTS AGAINST PRODUCT TESTING 34 Time Sales Without product testing With product testing Competitors imitate
ARGUMENTS FOR PRODUCT TESTING 35 Time Sales With product testing Without product testing
36
MARKET TESTING
METHODS OF MARKET TESTING

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• Fall '08
• Bush,T
• Marketing, Concept Screening, CONCEPT DEVELOPMENT FUNNEL, concept generat ion, New Integrated Shaver Concept