PRODUCT CONCEPT MODULE
Objectives -
Know the difference between concepts and advertisements
- Understand how product concepts are written and evaluated
Know the factors common to successful new products
Concept Development
Sources of Ideas
Writing Concepts
Evaluation of Concepts
Successful New Products
PERCEPTUAL MAPS
DEFINITION of a CONCEPT
A Concept Is….
A printed or filmed representation of a product or service. It is a promise a product
makes to resolve an unmet consumer need, the reason why it will satisfy the need, and a
description or portrayal of any key element that will affect the perception of the
product.
Translation: "What’s in it for me, the consumer, and why should I believe
it?"
ELEMENTS ESSENTIAL to a
CONCEPT STATEMENT
Product name and clear product description
Headline
Accepted Consumer Belief
Benefit
Reason to Believe
EXAMPLES OF HEADLINES
- Competitive
- New and Improved
Unique
EXAMPLES OF ACCEPTED
CONSUMER BELIEFS
Statement of Existing Beliefs/Perceptions
Statements Which Set Up a Problem or Describe a
Paradox
Statements Which Establish a Competitive Positioning
BASIC KINDS OF
BENEFITS
Product benefits describe the product advantage in objective terms
- Product Performance
- Superior, fresher, protects, etc.
People benefits describe the product in subjective terms
- Personal value
- Pride, confidence, less hassle, etc.
EXAMPLES of REASONS TO
BELIEVE
- Technical Performance
- Quality of the Ingredients
- Special Product Feature
- Special Ingredients
- Endorsement
- Visual Demonstrations
- Product Aesthetics
- Lack of Ingredients
- Torture Tests
- Based on Heritage or Image
GUIDELINES FOR WRITING
CONCEPTS
- Need Driven NOT Technology Driven
- Use Consumer Language
- Keep Statement Clear and Single-Minded
- Be Realistic
- Avoid Idle Superlatives
CONCEPT for a NEW CEREAL
Introducing new Nuggets, the high nutrition cereal
that combines three grains - oat, barley and wheat - with the vitamins , minerals and
fiber you need to start your day. Simply top with cream or milk, and enjoy. Nuggets can
also be served warm, simply by heating in your microwave. New Nuggets, the healthy cereal
that gives you the total and balanced nutrition you need.
BETTER CONCEPT for a
NEW CEREAL
Introducing new Nuggets, the delicious and
nutty-tasting high nutrition cereal that combines the natural sweetness of crunchy oat,
barley and wheat - with all the vitamins , minerals and fiber you need to start
your day. Simply top with cream or milk, and enjoy. Nuggets can also be served steaming
hot, simply by heating in your microwave. With Nuggets, you can have both
high nutrition and great taste. New Nuggets. the healthy cereal that really tastes great.
MARKET
RESEARCH OPTIONS
MARKET RESEARCH METRICS
- Purchase Intent
- Concept Uniqueness
- Relevance to Consumer’s Needs
- Importance of main Idea
- Expected Frequency of Purchase
- Reason for Purchase Intent
- Likes/Dislikes
Factors Common to Successful New
Products
Unique and superior product .
Homework done prior to start of development .
Early product definition .
Strong market orientation .
Quality execution of marketing, technological and production activities
Key Takeaways - Concept Development
Module
Concepts need to be well written
Good concept evaluation helps pick the winners
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