Product-Concept Testing

Companies spend substantial amount on the New Product & Concept Development which is one of the key growth prospects. In order to gain market share with targeted audiences along with entering into a new market, developing a new product or concept is one of the smart strategies garnered by growth-oriented company.

We at Mnemonics helps client in data collection, designing communication, lead generation and generating valued feedback from the targeted respondents in a process of data collection. Further we test the concept & product and help clients on probability of success compared with any of the benchmarked studies.

Mnemonics has a strong panellist to test the product or concept on 6 benchmarked points. These points provide key insights on the consumer product perception. Further it helps us to know the pricing, packaging, communication, credibility claims and identifying other key attributes for a long-term success of the product.

Mnemonics designs and develop a questionnaire addressing core client’s questions. The same questionnaire through a link is shared with the panellists/ respondents for data collection. It helps us to get the first-hand information directly from the respondents in order to have in depth idea of the perception towards the product. We have managed to deliver reports with respondents from 50 to 300 across industry verticals.

Mnemonics offers following data collection methods for in depth analysis

1. Primary Research (Quantitative)
   1. CAPI
   2. CATI
   3. CAWI
   4. PAPI
   5. Central Link
   6. Email Surveys
   7. Benchmark studies
2. Primary Research (Qualitative)
   1. In depth interviews
   2. Focus Group Studies
3. Secondary Research (if Required)
   1. Annual Reports
   2. Past Reports/ Studies
   3. Regulatory Bodies
   4. Competitor Analysis