Roll out your products with confidence with new product development surveys. We can help you with branding, concept testing, pricing, product positioning and all areas of new product acceptance.
New Product Development Surveys
Conjoint Analysis
With conjoint analysis, you can compare attributes of a product, person, or process and discover preferences. Our clients have used this feature to measure preferences in employee compensation, prioritize product attribute enhancement, generate pricing models and more. It is the primary analysis method in new product development. The research suite currently supports this function, and we also have a professional services team that can complete the entire project for you.
Build Your Own Panel
Once you send out an initial survey, Qualtrics allows you to build your own panel. This means you have a list of respondents that you can continually survey. This allows you to store and add embedded data about panels and compare answers over time. Clients have used this function for customer service, market research, employee satisfaction and other feedback.
Dynamic Analysis and Reporting
Qualtrics offers question statistics, filters, subgroups and more analysis options that keep the whole process in one location. Our research suite also offers fully dynamic, customizable reports that can be crafted for proper presentation. Qualtrics lets you quickly analyze and professionally report your results.
Professional Look and Feel
You only have one chance to make a first impression so insist on your own image. Our research suite offers customizable templates that can be matched to the look and feel of your organization. Qualtrics also offers several professional templates for doing blind surveys. Even more, our variety of question types will give your new product the triumphal entry it deserves.
Best Practices
When performing new product acceptance research, there are several approaches you could take. First, general product surveys are concerned with branding, concept testing, pricing, and product positioning. These brand surveys are essentially about brand equity. Brand equity, also called the value of the brand, is determined by brand awareness, brand attributes, perceived brand quality and brand loyalty. Qualtrics solutions help you build brand awareness for the customers you target, diagnose problem attributes and associations, increase perceived quality, and increase brand loyalty
Another approach to new product development is concept testing. A variety of concept tests are available to help you minimize risk and maximize revenue when entering service, consumer product, and high-technology markets. Qualtrics increases concept tests' effectiveness by allowing you to track concepts with a wide range of psychological and behavioral evaluations.
Before releasing your new product, pricing is a major issue. Online pricing studies can be conducted using a variety of methodological approaches, such as a price rating scale, a Van Westendorp model, and conjoint analysis. Price rating scales can determine the degree of importance that consumers attach to a given price level for a particular product. The Van Westendorp pricing model uses a series of questions to identify key psychological price points.
Conjoint analysis can estimate pricing effects, product utility score estimates, and determine the influence that both price and product features have on brand value. This service is already incorporated into the Qualtrics Research Suite, but is also offered as an advanced service. This means you can use Qualtrics to do a conjoint yourself, or have our team conduct the entire project for you.
Product positioning and marketing surveys deal with comparisons of a product or brand to the competition. These comparisons, or competitive positioning analysis, often compare the attributes and benefits that make up the product. Multidimensional preference analysis are often used. Several different types of positioning analysis are possible using different types of data.