Creating ROI from Consumer Research Spending
With 85% of product launches in the marketplace being unsuccessful and 75% of quantitative product tests providing no real direction, the question is how can consumer research play an important role to develop products which consumers LOVE and deliver ROI from consumer research spending. The first new move is already being seen in Emotion AI facial coding. But it cannot stop there as Emotion AI facial coding is ‘only’ about how to market products by observing consumers’ reactions to ad/pack communication. Real enduring success lies in consumers’ emotional product experience triggered by sensorial perceptions. As consumers perceive products with all their senses it is crucial to develop with consumers the product’s perception in every detail also with all senses: smell; taste; touch; sound; look.
Product Development ‘With” the Consumer
Developing products with the consumer can include the consumers’ involvement in – as many - developmental stages as possible i.e.:
- CONSUMER’S BRIEFING to guarantee that consumers get ‘a SAY’ about their desires and expectations. Therefore, the product’s development maintains its strategic trajectory from the beginning
- SENSORY EMOTION PROFILING of concepts and products during the development process guarantees that the development remains in line with consumers’ expectations and provides further development directions
- SENSORY EMOTION SUCCESS PREDICTOR minimizes the ‘flop’ risk in the marketplace and provides further suggestions to increase the likelihood of enduring market success
- In final quantitative testing, prior to market, consumers must get a place to express, in natural language, what they really perceive about the concepts and products – over and above standard attribute lists - to create distinctive actionable results for the product and concept developers.
Each of the possible steps described above, involving the consumer's feedback, will help to increase market success and will unlock the sensory-emotional power of a product offering providing a high ROI from consumer research spending.
SENSANALYSIS driving ROI via our proprietary SENSORY EMOTION ALGORITHM
The SENSANALYSIS’ holistic development and testing program consist of comprehensive tools each with a focus on creating coherent products and has a much wider impact on the creation of ROIAs an interlinked process it even unlocks the full power of sensory emotions with ‘almost’ the guarantee of market success. A cornerstone to this approach is our unique SENSORY EMOTION ALGORITHM (SEA) built over 30+ years via our proprietary qualitative sensory research with over 10 million verbatims created by sensorially articulate consumers around the globe across the dimensions of Fragrance, Flavor, Texture, and Emotions.
Through this SEA we can process rich consumer language for both qualitative and quantitative studies in a matter of hours and can be used for various objectives across all stages of development and communications. This SEA can drive the development of coherent launches to such a degree that we maximize the ROI of development and testing process. i.e.
- Research budgets and test product production costs are not spent in vain
- Clear actionable results - allowing important decisions to be made on which prototype is the best contender in the market
- The ability to convey brand and concept equity and how to adjust to increasing these strengths
- Coherent products are
- more poised to build on repurchase and enduring market success
- better performing in the marketplace built on brand equity and market success
- Brand equity and market value laying the groundwork for new innovative brand/product offerings
- Reduction of ‘flop’ rates and the need for reformulation or relaunches
- Better allocation of time/money and human resources
- development costs of product and concepts
- Advertising /PR budgets
- Successful products in the market are building brand equity and market value laying the groundwork for new innovative brand/product offerings
- Steady market successes earn the capital to develop innovative and exciting products with enduring success.