ExploreFit <concept test>
Many new products start with a marketing idea, and for these cases a product concept is the first outcome in the new product development.
It is our belief that each company has a unique place in the market and there are no universal standards that a product must fulfill. If your new product concept scores 30% on positive purchase intention it may be a really poor idea, but it also may be a great niche product, and ExploreFit will tell you that.
Our clients will receive mindful information about the where and how their new product idea would fit, besides the usual measures of attractiveness, originality, relevance, credibility, purchase intention.
ExploreFit is designed to:
- help the client understand the potential of their new ideas - heuristically generating a new product idea driven segmentation, separating the price analysis to fully explore the new product idea and to allow simulation of purchase intention at various prices, and offering valuable insights on the functionality of the product concept benefits
- offer the right measures to help clients decide worthiness of the new launch, based on norms appropriate for the client’s company, brands, and market.