Webinar Concept Testing: Consider all the possibilities with SKIM Dynamic Optimization

696 views
490 views

Published on

Imagine you are working on a new product development concept, a new package design, or a new creative campaign. What if the best concept is one you never even considered? When there are endless design possibilities, numerous internal stakeholders, and a tight deadline, the shortest distance between two points is a straight line. That's why SKIM's new Dynamic Optimization tool goes straight to the consumer to identify the best concept out of thousands of possibilities.

Our presenters shared how this research technique can be used to optimize new product concepts but also packaging designs, brochures, ads, etc. SKIM's Dynamic Optimization marks a definite improvement over current practice, dominated by experts opinions and research that only provides validation, as opposed to true discovery and optimization.

For more information about SKIM's webinars, visit www.skimgroup.com/webinars.

Published in: Business, Technology
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
696
On SlideShare
0
From Embeds
0
Number of Embeds
121
Actions
Shares
0
Downloads
12
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Webinar Concept Testing: Consider all the possibilities with SKIM Dynamic Optimization

  1. 1. Share your thoughts online: #SKIMwebinar Concept Testing Consider all the possibilities Carlo Borghi Project Manager Abigail Joffre Today’s webinar host
  2. 2. Imagine you have a new product… 2 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  3. 3. Creating a package design that has impact at point of sale is partly … ART - Catch the eye - Make the brand stand out - Position the product and informs the consumer - Optimize the mix of elements - Utilize the full potential of the creative design template 3 CRAFT SKIM Webinar “Concept Testing: Consider all the Possibilities”
  4. 4. Many variables can lead to a high number of possible combinations Color Claim Graphics Logo’s Product Description 4 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  5. 5. We developed a simple yet effective approach to quickly drill down a wide range of possible combinations An immense search space of potential package designs, combining ART and CRAFT 5 A convergent procedure involving consumer opinions Recommended concept or set of concepts + Scores of levels from the regression, indicating their performance SKIM Webinar “Concept Testing: Consider all the Possibilities”
  6. 6. We systematically limit the parameter space throughout the search steps • Smaller, (n+1)th parameter space 6 • Collect set number of observations • nth parameter space 11-points scale purchase intent measurements for pack designs Run Regression • Define new parameter space by dropping bottom ranking levels SKIM Webinar “Concept Testing: Consider all the Possibilities”
  7. 7. Nice, but does it work? It works! In theory, we identified the optimal pack design using simulated data In practice, we improved the current package design and were as good or better than expert opinions 7 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  8. 8. We tested the effectiveness of our approach for a hypothetical product in the pet care category 8 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  9. 9. 9 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  10. 10. Design: 4 levels Chemicals: 2 levels Color: 5 levels Benefit statement: 20 levels Insect logo: 3 levels Cat picture: 15 levels Vet logo: 3 levels 10 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  11. 11. Parameter space for a pet anti-parasite pack design Attributes (7) Levels Nature Package concept 4 Visual concepts Pet picture 15 Pet pictures Package color 5 Integrated in pack concepts Claims 20 Text statements List of chemical components 2 Present / absent Icons 3 Present (2 versions) / absent Vet only icon 3 Present (2 versions) / absent # of possible combinations 11 108,000 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  12. 12. Respondents go through the survey to narrow down the packages to 18 combinations Levels deleted according to prespecified order Possibility to include clusters Loop 1 Loop 3 Loop 4 Optimal 108,000 comb. 12 Loop 2 15,552 comb. 2,592 comb. 384 comb. 18 comb SKIM Webinar “Concept Testing: Consider all the Possibilities”
  13. 13. In a consumer survey we tested if our solution is better than 1) the current package and 2) the expert opinion 13 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  14. 14. The experts selected their suggested winners from the full set of pack alternatives Current 14 Experts Optimization outcome SKIM Webinar “Concept Testing: Consider all the Possibilities”
  15. 15. Our design process has delivered a better pack design than the current package design Best from algorithm (n=76) 9.01 2nd best (n=91) 8.87 3rd best (n=67) These variations would also be “good enough” 8.82 4th best (n=96) 8.78 Current package (n=415) 8.21 6 7 8 9 All differences versus current package are statistically significant at a 95% CL 10 Purchase intent rating (1-11 scale) 15 SKIM Webinar “Concept Testing: Consider all the Possibilities” 11
  16. 16. Two experts are as good as the algorithm Although expert opinions are not always consistent Expert B (n=61) 9.30 Best from algorithm (n=76) 9.01 Expert C (n=61) 8.98 2nd best (n=91) 8.87 3rd best (n=67) 8.82 4th best (n=96) 8.78 Current package (n=415) 8.21 Expert A (n=61) 8.10 6 7 8 9 Purchase intent rating (1-11 scale) 16 Difference not significant @ 95% SKIM Webinar “Concept Testing: Consider all the Possibilities” 10 11
  17. 17. Outputs: identify the best concept(s) and potentially optimize further! SKIM Webinar “Concept Testing: Consider all the Possibilities”
  18. 18. Deliverables 1. An optimal concept (or group of concepts) with corresponding absolute purchase intent scores  An Excel-based simulation tool where concepts can be built and their purchase intent scores simulated 2. Understanding of which parameters drive preference: relative importance of each of the tested variables 3. Add-on (optional): Understand the reasons for preference and identify ways to improve the best concepts even further 18 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  19. 19. The importance of elements are measured and insights can be gathered on the spot Importance of the attributes Benefits Open-ended feedback 3-in-1 flea killing product – kills, cares, prevents Tells me exactly what it does 35% 3 benefits in 1 21% Cares for my pet 15% Cat picture Colour Chemical Insect Logo 19 “It tells me all the fleas will be killed while being gentle on my dear Fluffy ” SKIM Webinar “Concept Testing: Consider all the Possibilities”
  20. 20. Clickable Concept: What elements are most appealing to consumers? Winning Concept Respondents then click on the parts they dislike the most (highlighted in red) Respondents click on the parts they like the most (highlighted in green) 20 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  21. 21. Conclusions 21 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  22. 22. Conclusion: we have an effective approach to identify an optimal package design Advantages over other methods (e.g., conjoint analysis) are: • • Can handle a very large parameter space with many attributes and many levels • Embedded validation: recommended concept was evaluated by many respondents • 22 Show one package concept per screen (less exhaustive for respondents) Can target questions to the best packages such as extra scores or details through the “why” question SKIM Webinar “Concept Testing: Consider all the Possibilities”
  23. 23. From pack designs to concepts, brochures, adcepts.. [Product name] The new [product name] combines the best aspects of a Notebook and a Tablet. Thanks to its flexible designs with [substantiation 1] and [substantiation 2] is both [material benefit 1] and [material benefit 2] Furthermore, the new Windows 8 [Win8 benefit]. This means that [benefit 1 brought to life]. Imagine [scenario 1]: you would be able to [benefit 2 brought to life]. The new [Product name] will deliver [performance comparison with notebooks] with the [tablets benefit] of tablets. 23 SKIM Webinar “Concept Testing: Consider all the Possibilities”
  24. 24. Share your thoughts online: #SKIMwebinar Go to www.skimgroup.com/webinars for today’s presentation slides and more! Carlo Borghi c.borghi@skimgroup.com +44 208 222 7704 Abigail Joffre a.joffre@skimgroup.com +1 201 963 8430 @SKIMgroup

×