A “Sound” Integration
Our client needed to test a potential new product that would offer their customers a single platform to process and distribute both audio and video signals. The client hoped to address some of the challenges their customers face, including
- Lack of new technology
- Decrease in profits
- Decrease in talent tool
- Unavailability of accurate information
Finding the Perceived Value
Our Tools: Breakthrough Innovation Hub™
Our Approach: Analysis and Innovation
What We Did: Quantitative Pricing, Positioning, and Value Analysis
We conducted a quantitative pricing, positioning, and value analysis market study, using the Breakthrough Innovation Hub, to provide the client with the business analytics needed to effectively support the launch of the new product. The goals of the market study were to
- Define an optimum price range for the new product;
- Determine how best to position the new product;
- Identify behavioral segments within the selected markets and describe their behavioral characteristics for targeting and communications; and
- Engage end user decision makers and influencers to achieve broad industry participation.
Together with the client, we designed and conducted a blind, quantitative, web-based survey, and used the Breakthrough Innovation Hub to analyze the survey results. The survey included a concept test featuring the new product, described by its product features and benefits, in which we evaluated, among other things
- Overall interest
- The price/demand relationship
- Barriers to purchase
To the Beat of the Customer’s Drum
Our research and analysis showed a great interest in the concept and provided the client with exactly the information they needed to determine the best way to successfully price and position the product. This client is one of many with whom Breakthrough has worked before, and we look forward to working with them again to help them grow their business.
™ Breakthrough Innovation Hub is a trademark of Breakthrough Marketing Technology, LLC
