Idea Filter provides them with an efficient, fast and rigorous means to find the best concept and understand what makes it work, says Rich Raquet, TRC's president.
(PRWEB) October 17, 2017
TRC Market Research, a research and analytics firm specializing in new product research and conjoint analysis, announced today their new agile concept evaluation tool called Idea Filter. The product is designed to help market researchers and marketers effectively evaluate close- to-final product ideas and concepts. It helps them with their final decision about identifying the winning product idea or concept.
“Idea Filter completes our Agile Suite. Our other tools help to generate ideas (Idea Mill™), narrow down to winners (Idea Magnet™) and do a deep dive on a single concept (Idea Audit™). In many cases though clients have a limited number of choices (so there is no need for our sophisticated Bracket™ technique) but more than one (which would require multiple Idea Audits™). Idea Filter provides them with an efficient, fast and rigorous means to find the best concept and understand what makes it work”, says Rich Raquet, TRC’s president.
The tool quantitatively assesses 3 to 5 product concepts. Every respondent is presented with a general description of each concept. Using a 1-10 scale, respondents rate each concept on five dimensions – appeal, understanding, similar/different than others, likelihood to tell a friend and a likelihood to take action. The tool provides up to 3 custom questions, in addition to the standard screening and profiling such as age, gender, state, employment etc.
Marketers and market researchers can then analyze the data and compare perceptions of each concepts on several attributes. The results are able to identify the product concept with the greatest appeal and the elements that are preferred.
The entire process take 10 days or less from start to finish and it’s very cost-effective.
About TRC Market Research
TRC Market Research is a product development market research firm that pairs customized solutions with senior-level attention to help solve business problems. TRC provides expertise in designing and implementing successful brand research, pricing research, business-to-business market research, market segmentation and customer satisfaction and loyalty studies.