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
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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
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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
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SURVEY 23 Top-two-boxes
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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%
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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
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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
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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
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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”
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The DubStein (2013 CES) 29
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Acura NSX Concept (2013 NAIAS)
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PRODUCT TESTING
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ARGUMENTS AGAINST PRODUCT USE TESTING
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ARGUMENTS AGAINST PRODUCT TESTING 33 Time Sales Without product testing With product testing Delay in money generation
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ARGUMENTS AGAINST PRODUCT TESTING 34 Time Sales Without product testing With product testing Competitors imitate
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ARGUMENTS FOR PRODUCT TESTING 35 Time Sales With product testing Without product testing
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36
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MARKET TESTING
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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

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