Concept testing is a vital part of brand innovation. It provides valuable insight into the likelihood of success and the steps needed to maximise it. It allows brands to tweak their ideas to meet the specific needs of their target audience. Ultimately, it can bring brands great rewards – and avoid mistakes and financial loss.
Concept testing for success
Perhaps the ultimate challenge for concept testing is when trying to get a completely new business idea off the ground. In truth, the stakes are high whether you are concept testing for big businesses selling a variety of products or services, or a start-up focused on a single concept. If an idea is new, particularly if it is a ‘mould breaker’, you need to ensure that consumers ‘get it’ and want it. The difference lies in the fact that if a business is totally new, the likelihood is that people are investing everything they have on a concept they are passionate about. Their idea therefore has to be objectively proven to be as ‘rock solid’ as possible if it is to reach market.
So, when we were approached by the creators of a new business model for shared vehicle ownership who wanted to research the overall appeal of their concept, we relished the opportunity of providing the insight they needed to see if their idea had what it takes to succeed.
In fact the result of our findings went much further than this. We were able to demonstrate not only how the new business model was received, but also to provide feedback on the process, pricing and payment options. Attitudes to car ownership and usage generally were also observed. We revealed what appealed to those most interested in shared vehicle ownership and the ‘hidden’ barriers to take up too. This insight was essential, enabling the client to make concept refinements early on that would help to address those barriers and to capitalise on the elements that ‘sold’ the concept to consumers.
Critically, we were able to identify the group that was likely to ‘buy-in’ to the idea and from this estimate the potential market and sales, providing the client with confidence in their concept and allowing them to pursue, and achieve, angel investment.
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