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Consumer Product Concept Testing $2900
 

Consumer Product Concept Testing $2900

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Skuuber® is a revolutionary online tool for consumer packaged goods (CPG) marketers to quickly and effectively certify demand and understand the market potential for new, existing or competitive ...

Skuuber® is a revolutionary online tool for consumer packaged goods (CPG) marketers to quickly and effectively certify demand and understand the market potential for new, existing or competitive items at the SKU level.

Clients can create and launch their project in under 15 minutes at www.skuuber.com, get input from 1500 consumers, predictive benchmark modeling against consumer usage data for the category and have results back in days---all at a cost about half that of a 10 person focus group.

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    Consumer Product Concept Testing $2900 Consumer Product Concept Testing $2900 Presentation Transcript

    • Consumer Product Concept Testing Breakthrough methodology: cost, speed, affordability
    • Overview
      • Complete US market analysis for your product ideas just $2900
      • Predictive modeling of initial retail sales
        • Survey 500 consumers
        • Demand modeling
        • 21 page report of results & diagnostics
      • Easy to use & understand
    • Brand management challenges
      • Optimizing sales/marketing plan
      • Resource allocation
        • Funding
        • Manpower
        • Production
      • Efficiently satisfying consumer demand
        • Choice
        • Value
    • New products
      • Over 25000 new consumer product skus are introduced annually in the North America.
      • Only about 60% of new product launches are considered successful at launch.
      • For every 7 product ideas, there may be only 1  that succeeds in the market.
      • An estimated 44% of all resources allocated to product development and commercialization by U.S. firms are spent on products that are cancelled or fail to yield an adequate financial return.
      Source: PDMA
    • Inadequate or faulty consumer market research and analysis is the #1 cause of new product failure.
      • Main causes of NPD failure
      Source: Cooper, Winning at New Products
    • Skuuber Demand Certification
      • Net retail sales potential per 1000 aware consumers
      • Establishes a consistent Standard for evaluating market potential at the SKU level
        • Consumer survey results
        • Algorithmic demand modeling
        • Diagnostics
      • Adds VoC to category management process
      • Works across all CPG categories
      • Emulates retail consumer item evaluation experience
    • Deliverables
      • 21 page Skuuber Report includes toplines & diagnostics for marketing/business planning guidance
        • Skuuber Score™  projection of retail volume potential
        • Household trial estimates: category users & non-users
        • Price elasticity of demand
        • Demographic trial intensities
        • Channel management options
        • Uniqueness ratings
        • Price/value ratings
        • Purchase driver ratings
        • Needs-improvement ratings
      • 72 Hour turnaround, delivered to user online account
    • Skuuber Consumer Panel
      • 500 US Consumers
      • Recruited by eRewards
        • Leading global provider of survey panelists
        • 3.2 million active members
        • ISO certified
      • Panelists
        • Invitation only, double opt-in
        • 85% panel retention
    • Product Profile screen --- populated by client online
    • Sample questionnaire screen --- one of nine seen
    • Questions Asked & Issues Explored
      • 1. Do you currently buy a product like this?
      • 2. How likely are you to BUY this product in the next 12 months? (check one)
      • 3. How many units of this product would you buy at one time? (check one)
      • 4. Which of the following best describes you as it relates to this product?
      • 5. Based on the description above, what is the ONE thing that would make you MOST LIKELY TO BUY this product? (check one)
      • 6. Based on the description above, what is the ONE THING that, if changed, would IMPROVE YOUR LIKELIHOOD OF BUYING this product? (check one)
      • 7. How unique is this product compared to others you are aware of?
      • 8. At the price shown above, how would you rate the value for the money of this product?
      • 9. Where would you expect to find this product available for sale? Check all that apply.
    • Skuuber Score®: Net Retail Sales Potential
      • Net initial retail sales dollars per 1000 US consumers aware of the product and with access to it. 
      • Translates the consumer survey data into market-based sales potential metrics at the SKU level.
      • Included Performance Factors
        • Trial estimates
        • Volume per purchase occasion
        • Average price paid forecast
      • Standardized, category agnostic measurement of initial demand
    • Trial by category usage
      • Shows difference between users/non-users of category
      • Indication of incremental volume potential
    • HotSpot Chart
      • Detailed Total US demographics
      • Demos indexed to national average trial rate
      • Instantly flags pockets of strength and weakness
      • Use to identify or validate consumer target markets & options
    • Price Elasticity of Demand
      • Checks effect of pricing on demand
      • Indicates responsiveness to price promotion
    • Incremental purchasing
      • Shows whether demand is incremental to category or a cannibal
      • Combine with dollar share power to gauge impact
    • Channel Strategies
      • Indicates expected retail environment
      • Shows distribution opportunities & priorities
    • Uniqueness
      • A key attribute of successful brands
      • Indicates degree of uniqueness perceived
      • Indication of pricing power
    • Value
      • Critical dimension of successful products
      • Shows intensity of value perceptions
      • Works with uniqueness ratings & incremental purchasing data
    • Purchase Drivers
      • Indicates most compelling elements of the SKU ecosystem
      • Indicates focal points of messaging & differentiation
    • Areas for improvement
      • Shows weak spots in value proposition
      • Indicates why resistance to trial occurs
      • Product/messaging improvement areas
    • Timing
      • Create a free account
      • Create a Skuuber Study in 15 minutes online on our secure site
      • Tweak, modify as much as needed, launch & pay when ready
      • Results back in just days from study launch
    • Fees
      • $2900 per sku studied
        • 95% confidence level
        • 4.3 confidence interval
        • Total US detail
        • About 1/3 the cost of a single focus group.
        • More detail and faster turnaround than research costing $30K+. 
        • Performance metrics not found anywhere else.
    •  
    • Applications
      • Category “presearch”
      • New product development & launch support
      • Business & marketing plan support
      • Target market options
      • Category reviews & sku rationalization
      • Pricing strategies
      • Channel strategies
      • Package & logo design
      • Line extensions
      • Package promotions
      • Brand positioning
      • Advertising claims
      • Risk management
    • Recap
      • Fastest, most affordable concept testing method ever
      • Robust, complete and 2.5X competitor sample sizes
      • Standardized Skuuber Score®
      • Easy to use & understand
      • Versatile
      • Free to set up and manage concepts, pay only when launched to field
    • Contact Us
      • Rick Hill: Founder & CEO
      • Skuuber, LLC
      • 11440 West Bernardo Court
      • Suite 300
      • San Diego , CA 92127
      • www.skuuber.com
      • ph: 1-877-UBERSKU (877-823-7758)
      • fax: 760 747 6921
      • E-mail: rickhill@skuuber.com