Concept tests provide essential insights for designing a product or service. This technique allows you to better focus on product characteristics which have a direct impact on your customer preferences. Thus it improves your product or service market match. LABEL R&C can provide a couple of methods of concept testing. Each has different goals and can provide different benefits : Concept of a new product : To identify the most important benefits to your customers and characteristics those are most likely to create those benefits. You need to identify and prioritize customer needs for product development and promotion. This type of concept test can also test customer initial reactions to the concept (Reaction and Adoption Test). Product Upgrade Tests : Modifications and upgrades can create new life to already existing products and services. With a product upgrade test, identifying the optimal bundle of characteristics is a priority. It is critical to differentiate and prioritize the release of new features that are [need to haves] vs. [nice to haves] so you can create products and services that are truly [new and improved], or worthy of a new release or upgrade.

A marketer should evaluate continuously the satisfaction of its customers. A survey which indicates what he is doing right or where he is going wrong, should be benefic to the development of your product or service. Such informal feedback is valuable in any company but hard to formalize and control. Thus surveys are necessary to measure and track customer satisfaction. The customer satisfaction measurement tools choice depends on the object targeted: If a product targeted in example, we evaluate its design, quality, length of live and market price and value for money. If we have to evaluate a staff or service, we assess for example the customer or technical service and reliability.

The success of your new product or service depends on how it fits to customers needs and how it fills a demand in the market place. Thus, it is important to gather all essential information and insights from targeted clients prior launching a new product at commercial volumes. By understanding what your audience finds important, you will be able to decide on how to best promote your launch. You will understand the best manner to use for advertisements, as well as any concerns your audience has that you can address and alleviate. LABEL R&C can carry out quantitative or qualitative studies to identify if your product were suit to the market and to from you fixed objectives or should you modify certain elements to get better results.

Defining a price for its product or service is one of the most important decisions for any company. There are many market research techniques that are important to determine the best price point for a product. The aim is to find what your customers is willing to pay for your product. At LABEL R&C, we are using almost quantitative research methods to evaluate the strengths and weakness of your price strategy: Monadic Price Testing Sequential Price Testing