Concept Optimization And Market Research

Published: 20th September 2007
Views: N/A

Concept organization is one of the most difficult job n product and service development. It involves deciding the important features and combinations, which will interest the consumers. Market research companies offer the facility of concept optimization to its clients.

Concept optimization is not an easy task and most of the companies take the help of market research firms to decide if they should take the services from a particular firm or whether they should avoid it.

The work of market research companies is not only to analyze the key components of a product or service; it also involves the analysis of how they work in coordination. Determination of the value of components, product and services are also an important part of the optimization process.

Many market research companies give a chart, which give stepwise instructions on how to implement the key techniques for the purpose of optimization and evaluation. By concept optimization, we mean applying advanced modeling and stimulation tools, in order to extract results from the advanced technology employed.

Results derived from concept optimization, carried out by market research companies include:

A detailed report containing key findings and suggestions related to concept acceptance and strengths and weaknesses.

Reports containing management summaries, tables, detailed charts and cross tabulations are completed in just three days from the commencement of the market research for quantitative research projects.

The measure that market research firms take while implementing the concept optimization includes customized key measures, which can be used to optimize concepts.

Typical key measures are:

· The importance of features, groups of attributes and attributes
· The impact of features or attributes on purchase and initial trial interest
· Preferences for alternate features, levels of attribute and attributes
· Forced choice between set of attributes and features
· Distinction between attributes and features from competitive offerings
· The impact of price level on purchase and trial decisions

Concept optimization is one of the important functions of market research firms. They give an outline to the company so that it can move towards growth and development.

To avail more information on concept optimization and market research log on to the website: http://www.rncos.com.

RNCOS E-Services Pvt. Ltd. is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our market research reports, visit us at our website: - http://www.rncos.com or email us at info@rncos.com.


Report this article Ask About This Article


Loading...
More to Explore