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New Product

 

  • For many companies, new product is the key to their development and profit growth. The product must experience the introduction, growth, maturity, and decline life cycle. In mature period or decline time, the company must act a positive role


    • to expanse product line & prolong product life cycle;
    • to redesign product & maintain its superiority;
    • to develop new product & maintain yearly income.

  • The companies that put new product successfully to the market and carry out the creative management in the product life cycle have gotten the corresponding repayment. However putting new product to market has certain risk. GM, Bowmar, Du Pont, General Mills, Exxon, Fedex and such international famous big companies had once lost seriously because of the new product development. High defeat rate as well as high cost increases the risk of new product development. But this development can be controlled. IMC is intent on reducing the risk to the lowest and maximizing the company¡¯s profit.






    New Product Research IMC Provided mainly includes the following aspects:
¡¡¡¡Research Procedure  

 



¡¡¡¡Concept Test  

 

  • After the establishment of product concept, it should be tested in the consumers, in order to help enterprises to revise and substantiate the content of this concept. Sometimes there are many concepts of products; so it needs to choose the best scheme from testing concepts. IMC provides clients with scientific test for product concepts. Through setting out one or several substitutable product concepts represented by clients, we offer our clients objective suggestion and choice.
  • IMC provides three kinds of tests for product concepts: concept screening test, concept attraction test and product templet test.







    Concept screening test
  • In the development stage of new product, there are usually many product concepts. IMC will take the concept screening test in the first stage, and screen out several potential concepts that are worth further research. Combining with many methods of data analysis, IMC Mainly uses the quota sampling street questionnaire investigation, residence investigation and so on. Market potential analytic method as well as non-parameter statistics analytic method is the most useful methods. The next chart is the introduction of market potential analytic method:






    Concept attraction test

  • The qualitative research on the concept attraction is usually carried out by group symposium. The purpose is to get know the consumers¡¯ attitude on each product concept, to carry out the disaster test for product concept, namely to eliminate inappropriate product concept, as well as to choose out some product concepts that are worth further quantitative analysis. Here are some qualitative and qualitative models below:









    Product templet test
  • IMC provides product templet test to find out weather the templet has present concept fully in the product, and test product templet as well as product concept simultaneously.






¡¡¡¡Product Test  

 

  • Product test is to let potential consumers use the new product sample. The purpose is to weigh the acceptance of the product, to find weather consumers prefer new product, compared with the competitors¡¯ products; to find out the shortness that can be improved of new product; and to analyze the strength and weakness of products; in order to help our clients set suitable propaganda strategy. IMC usually determine the test methods for different products according to the different stage of development or life cycle. The purpose of the tests is as follows:





    Test method

  • The product test may be carried out in the street, in the consumers¡¯ home and in some observation rooms with boss-eyed mirror. IMC suggests our clients studying with us and choosing suitable test for the products.
    • The projects that can be carried out in the street and downtown areas are usually some food and drink taste tests. These tests can be finished in aisle, supermarket, restroom, caf¨¦ or near the counter and they are also can be carried out in some secluded rooms rent by market research companies in the stores.
    • Some products can be evaluated by consumers only after repeated tryout. This kind execution must be carried out in the consumers¡¯ families. For example, some necessities like washing things, cleaning things, individual skin-protect things and so on need repeated test to get comprehensive appraise, because the dosage for each time is small. Marketing research companies usually complete investigations by leaving product samples to customers for test.
  • Some tests must be finished in the room with boss-eyed mirror, such as handset test, Internet /Software test, GPS product test and so on. On the one hand, these products are not suitable for the street test or residential test; on the other hand, the clients often request to observe the consumers¡¯ response, etc.


¡¡¡¡Types of Product Test






¡¡¡¡¡¡Product test objective

 

  • Different product tests have different purpose; there are several main tests below:








Test Chart of Certain Beer Brand £º




¡¡¡¡Packing Test  

 

  • The market investigation result indicated that over 90% of consumers frequently change their purchasing decision at the purchasing places, especially when they purchase daily necessaries; and over 60% of consumers purchase commodity away from their plan. In many purchasing decision-making factors, packing is a key factor. Over 30% of consumers have not decided the brand their will buy before they enter the marketplace. Packing is a very important factor that will affect the consumers¡¯ purchasing decision.
  • IMC thought packing plays an extremely significant role in the marketing of certain type commodities; especially the improvement of technical level is reducing the difference between various products. Packing has already become a powerful marketing method. Our research team has changed 4P model to 5P model for the research on some specified products, namely increased the packing analysis.



    Test content:£º

  • The packing has many factors, such as specification, shape, material, color, design, introduction, brand mark, as well as label and so on. All these factors can affect the image in consumer mind of this product. The overseas research indicated that, people with different individuality and life style have quite different preference on the color. What kinds of design can attract people? Whether the design has clearly represented the characteristic and benefit spots of the products? Whether it is striking on the shelves and it is attractive to the customers? Sometime the change of packing may even be the cornerstone for brand relocation.
  • IMC provides our clients with specialized packing test. Before a new kind of packing is put into the market, we test its effect among consumers, and see whether it has achieved the anticipated effect, especially some compositive factors. We use methods as well as the test content, mainly including:






¡¡¡¡Title Test  

 

  • The product naming is an important step in the new product development process. When we name a product, we must use the scientific method to test the brand name. the objective is to find out the most suitable name that can represent the expected image of the product from many brand names. Besides the participation of enterprise interior personnel in the naming process, we need consumer's approval of the name. The process of new product naming is usually divided into following three steps, including:






 

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