This blog post is a summary of a recent project completed by Research & Marketing Strategies, Inc. (RMS).
Background: An organization that creates outdoor gardening products partnered with Research & Marketing Strategies, Inc. (RMS) to conduct a product perception study. The client wanted to test the market perception of several new product concepts. The market research objectives were to (1) evaluate awareness of the product, (2) learn the shopping habits of target consumers, (3) measure the interest of each new product concept, (4) determine the anticipated price of each concept, and (5) obtain feedback regarding features that are most liked and/or features that need improvement.
Approach: The study consisted of a five minute online survey sent to RMS ViewPoint Research Panel members. The RMS ViewPoint Research Panel is representative of both the United States population and Central New York in particular, an area with a long history as one of the nation’s top test markets. The RMS Analytics team developed the 31-question survey in consultation with the client. The survey covered various topics which gauged shopping habits, current product awareness, new product interest, anticipated price, and most/least preferred features. Survey results allowed the RMS team to identify key consumers and segment the data by consumer group throughout the report. Fieldwork lasted approximately two weeks, with a total of 487 responses collected. After the completion of fieldwork, RMS provided the client with an in-depth report that included a dashboard, executive summary, data tables which highlighted responses from key consumers, as well as next steps and recommendations.
Results (A few highlights of the study’s findings):
- As a result of survey responses provided, the RMS Analytics team identified target consumers as those who currently own products similar to those tested and are likely to make purchases of comparable products in the future.
- The data revealed which product was favored by respondents and why that concept was more preferable than the other concepts tested.
- Features that were most and least preferred were identified to provide the client with the insight needed to make design alterations and message enhancements before producing the product.
- The research revealed an anticipated cost to determine a competitive price point for each new product concept.
- Overall feedback was gathered and analyzed which provided the client with the direction needed to produce the ideal product and market it effectively.
RMS is a full-service market research firm located in Syracuse, NY. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.