Which idea would
best sell in the market?
The concepts are developed in phases, from formless idea to precise message in an appropriate form with supportive visuals and content. In today’s competitive world, innovation in every form is the only way to survive! Innovative ideas brings new concepts in products, services, marketing activities, sales approaches, etc.
Companies don’t develop just a couple of concepts. With rigorous brainstorming, multiple concepts are developed and now the major question arises as “which concept would do better in the market?” No matter how good Marketer or businessman you are, you would not be able to judge or guess which concept would do well without understanding customers’ mind set.
Now, the major questions arises as
o How customer / prospects will react on the proposed concepts?
o Which concept will create more buzz in the market?
o Which concept will be more useful for my customers / prospects?
o Which concept would fly better?
o How many customer / prospects I can expect after launch?
o How much revenue I can expect from the proposed concepts?
Solution from Market Search India
We have our own module for concept evaluation studies which evaluates different concepts from the target customers. We will assist you to take your business ideas/ concepts to your customer / prospects and comes back with the most appropriate and the most accepted option.
Concepts can be shared by showing actual product prototype, sharing details in brochure/ product information format, Audio Visual format or in e-format. It is very important to target right set of customers in this study as usually concepts are designed by keeping target profile of customers in mind. Screening the customers based on selection criteria, sharing and explaining concepts with them and gathering insightful feedback is followed as a process in this study. This study can be carried out by using both qualitative and quantitative research methods.
Concept evaluation studies also helps in understanding the customers buying behaviour, currently used products/ services, needs gaps in the current market, which need gap the proposed concept would fit in and attract customers, price sensitivity of the customers and intent to use proposed product/ service in the proposed price or what is the most appropriate price.
We have conducted concept evaluation studies in different verticals like real estate for upcoming resort/ theme park/ hotel, e-commerce companies for new product/ service mobile Apps, healthcare services for diagnosis or treatment methods/ for new drug delivery systems, automotive components, financial product, IT solution, etc.