Marketing Problem
A new topical over-the-counter (OTC) medication that relieves arthritis/joint stiffness, swelling, and pain was entering the market. As the market for arthritis pain relievers is saturated. There was a need to stand out from the crowd. For the launch of the initiative, the advertising agency and the pharmaceutical company needed the following methodologies in the brand research survey:
- Brand positioning
- Claims messaging
- Sales forecasting data
- Pricing analysis (determine the right price)
Brand Research Survey Solution
Provoke Insights developed an online survey that includes the following aspects.
Advanced Analytics
1. A MaxDiff and advanced analytics technique was used to test the claims. The MaxDiff is a trade-off analysis technique that can help determine which attributes directly influence the decision process. The MaxDiff is an alternative to a standard rating scale that often leads you to believe every attribute is essential. This questioning forces respondents to make choices between claims, which results in a more robust data set. The research tells you the exact amount an attribute leads to sales.
Brand Concept Testing
2. The survey included two concept statements, with each respondent only seeing one concept to prevent bias. Therefore, each concept was shown randomly to 300 respondents. The methodology provided actionable research. as the concepts were not compared. Instead, each concept was rated on its own merit. After reading the idea, respondents answered what they liked about the description, any feedback they had, and their recommendations to improve the message. Results were compared to data from Provoke Insights’ norm database.
Pricing Sensitivity within brand research survey
3. Also, the research included a pricing evaluation utilizing the Van Westendorp pricing model. The method asks a series of price sensitivity questions to help determine the ideal cost. Results were plotted to visualize the right price range.
Research Results
As a result, the actionable nature of the research allowed the 4Jointz brand to decide on a concept, price point, and recommended claims – all in one survey. Provoke Insights also gathered the sales forecast data using the survey information as a baseline. 4Joints launched with great results, pleasing investors.
Check out some of our other case studies here:
- Kitchen Home Improvement Market Research Study
- Brand Strategy for a Major National Fitness Club
- Brand Strategy Research for a Rental Truck Company
- Content Marketing Research for Tech Companies: A Case Study
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