Digital technology is known for its rapid advancement. Companies in the industry are constantly making incremental changes to their products in order to keep up with the competition.
Often, these incremental changes tend to include additional features. On occasion, due to space or cost constraints, introducing additional features may also mean saying goodbye to other older features.
The big question – how should these feature changes be determined? Read on to find out how marketing research can help companies make scientifically backed decisions.
A mobile technology company wants to introduce a smartphone with projection capabilities – think holograms, or watching movies on a screen the size of your whole living room wall. They’ve been waiting for the right technological developments, but they feel confident that with the next iteration of their device, the technological capabilities will be available.
The marketing department has raised concerns about pricing after the latest concept was presented. Meanwhile, the development department is worked up about the physical space requirements in the phone.
With all these contributing factors, the company needs to know which phone features are indispensable, and which could potentially be left behind. It’s important that they find out quickly and discreetly in order to move on with the project and stay ahead of the mobile device pack.
When time is a factor, quick-hit research is a great solution. It’s not right for every situation, but would work well for this mobile technology company because they’re seeking specific answers to one primary question from an easily accessible audience.
The MaxDiff methodology may be right for this company. Using this approach, respondents are shown a set of the possible attributes, and are asked to indicate, among those shown, the best and worst (or most and least important, etc.). This question is asked again and again with varying sets of possible attributes.
The end results yield a ranking of attributes, helping to determine a trade-off analysis.
We would work with this company to develop a survey which addresses the specific list of attributes under consideration. An additional question or two could be devoted to a current market interest level in the smartphone projection feature itself.
From the inception of this project to the final report, Actionable Research could provide results in as little as two weeks. The quick turnaround time, at an affordable price, would give the company the answers they would need to make decisions about next steps, leaving money in their research budget for a concept or messaging test in the future.
If you’ve been tinkering with a new idea, but you need to quickly and affordably verify your hypotheses before taking your next steps, Actionable Research proudly offers our Insight Streamer services. With pricing starting as low as $4,995, we can take your single-objective study and return fully-analyzed results in as little as two weeks. Contact us today to learn more about Insight Streamer, and whether this platform would be right for your needs.