- Validation Division
- Validation Process
- Validation Study Types
- Market Understanding
- Brand Potential
- Target Audience Segmentation and Market Sizing
- Market Opportunity Studies
- Communications
Brand Potential:
Market Opportunity Studies
About
Before launching your brand onto the market, you need to know more about the current market landscape and where the opportunities lie.
At a more rational level, what attributes about the current brands do doctors (and patients) think are important? Which attributes do all brands perform well on, and which offer at least some functional differentiation? Are there any brands with a clear USP? And are there any areas of obvious unmet need?
As well as functional elements, are there other drivers and barriers that will affect whether your target audience will not switch to your brand?
How we can deliver
A short online questionnaire can be used to identify market opportunities. The questionnaire will uncover what attributes are important to your target sample, as well as discovering how well these attributes are currently being met.
For some studies it may be worth employing a conjoint technique to provide greater analytical depth to understanding how respondents make choices between brands. The MaxDiff conjoint technique (see reference below) is a reliable way to understand the relative importance of various attributes – and easy for respondents to complete.
Understanding drivers, barriers and brand loyalties can be uncovered using attachment scales, as well as attribute lists and metaphors.
References
The MaxDiff method is reviewed in the International Journal of Marketing Research (An empirical test of six stated importance measures, Keith Chrzan & Natalia Golovashkina, Vol 48, 6, 2006, 717-740) where it is shown to perform favourably compared to other methods - paired comparisons, Q-sort, constant sum, ratings, unbounded ratings and magnitude estimation.