LATAM-based companies are usually pressed to do more with less, managing frugal operations with ever tightening budgets. Marketing managers are requested to allocate their marketing dollars more efficiently to instigate change in consumers and gain incremental users to their brands; however, the available body of knowledge on promotion effectiveness is often incomplete, disaggregate, and sometimes anecdotal. SKIM takes on the challenge of systematically measuring and comparing the effectiveness of 20+ types of promotions across 5 countries in the Americas, for two CPG product categories. To add a fundamental layer to our understanding of what works and doesn't work in LATAM markets, we aim to identify key underlying behavioral economic principles driving the success of certain promotions.
LATAM-based companies are usually pressed to do more with less, managing frugal operations with ever tightening budgets. Marketing managers are requested to allocate their marketing dollars more efficiently to instigate change in consumers and gain incremental users to their brands; however, the available body of knowledge on promotion effectiveness is often incomplete, disaggregate, and sometimes anecdotal. SKIM takes on the challenge of systematically measuring and comparing the effectiveness of 20+ types of promotions across 5 countries in the Americas, for two CPG product categories. To add a fundamental layer to our understanding of what works and doesn't work in LATAM markets, we aim to identify key underlying behavioral economic principles driving the success of certain promotions.
This paper describes a new method for investigating consumer preferences for product design, the Interactive Concept Test. In this test, respondents specify their own, preferred design by interactively adjusting the attribute levels of a randomly chosen product design. The Interactive Concept Test gives insight into the formation of consumer preferences for products, in addition to how preferences are structured. Furthermore, the test is an example of the application of multimedia technologies in consumer research. In this paper, it is shown how the method works. Furthermore, some results of an illustrative study are discussed.
In product development, computer-aided design is already established as an effective tool for the generation, modification, analysis, simulation, and evaluation of a product design. The computer can also be regarded as an organizational platform on which disciplines like design, engineering, production, sales, marketing, and market research can work together to achieve product success. Each discipline can use the data in a central computer database for its own purposes. Market research, for example, can use the data for concept testing purposes, for gathering consumer opinions about the new product design. This paper shows how concept testing can benefit from the application of computer- aided design in new product development. First, it is shown that computer-aided design is particularly effective for creating realistic concepts that show the provisional design of the new product. Second, computer-aided design is a flexible tool for varying among a design proposal, once the design proposal is described and stored in the computer database. An alternative concept testing approach is presented to fully utilize this flexibility of computer-aided design.
This paper illustrates the appropriateness of computer graphics for the creation of realistic representations of products that are not (yet) available, for the benefit of market research applications, particularly concept tests. An experiment is conducted to study the effect of the realism of computer-created product representations on the validity of consumer evaluations. We varied the degree of realism of representations of a shaver and a picture telephone. These representations as well as the actual products are evaluated by samples of respondents. The validity of consumer evaluations increased with an increasing degree of realism, particularly for the picture telephone. That means that it may be worthwhile to invest in additional degrees of realism to get more valid consumer evaluations. Particularly, the amount of detail of the productsâ form affected the validity of consumer evaluations. Investments in additional CAD options, such as a ray tracer or a mapper to provide a more natural impression of the products' material properties, tended to be less relevant. The improvement in validity was small in comparison with the costs. Investments in a modeller that supports an efficient and effective description of the product's form was considered to be more relevant than investments in additional CAD options, such as ray tracing and mapping.