For many organisations, innovation is their lifeblood. They invest heavily in R&D and proposition development functions, understanding that continual improvement to their products and services is a vital prerequisite for growth.
Bringing the right ideas to the marketplace
As a consequence, development departments are often overwhelmed with potential ideas, the vast majority of which rarely progress, and the process of selecting new ideas is often non-systematic and based on judgement.
Concept screening can help
With decades of experience helping businesses bring the right ideas to the marketplace, B2B International can help you to select commercially viable concepts, whether in terms of revenue, margin or ease of producing, through concept screening.
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As business to business market research specialists, we keep the following critical factors in mind when conducting concept screening and new product screening research:
B2b and industrial products and services are often complex in nature
Especially where innovations are concerned. When it comes to research methodology, we sometimes lead research respondents through a series of staged tasks to familiarise them with the terminology or features of new propositions prior to going through concept screening and new product screening exercises.
Concepts need to be evaluated on a wide range of potential criteria during the screening process
These will vary depending on the strategic intention of bringing the innovation to the market. This might include getting measures on factors such as:
- Credibility of the concept – especially the credibility of the brand to provide it
- Perceived technical viability of the concept
- Price perceptions
- Interest in and intention to purchase the concept
- Effect of the concept on a brand’s positioning
- Potential cannibalising effect on existing purchases
- Perception of each concept’s likelihood of succeeding in the market
Stated preferences for concepts also may need to be analysed in the context of other sources of business intelligence.
Some concepts may not be attractive to the market on initial viewing, perhaps because they are not well understood or the benefits are not communicated well enough.
In these cases, the following methods may be appropriate:
- Use of more reflective research techniques
- A / B testing of individual concepts using variations in description or imagery
- Using inferred means of evaluating potential concepts – for example, through advanced statistical techniques such as conjoint and trade-off exercises
We understand that concepts cannot always be evaluated in a standardised way and that research methodologies need to take account of the specifics of your market. With our broad experience of concept screening and new product screening projects across a wide array of industrial products and business services, we can help you select the right concepts.