part 2 Flashcards
Quantitative research
Large Base Size
Structure questionnaire
Tool used for generalization/ representativity
To verify hypothesis with statistical methods
Quantitative research (results)
Table with data
means/average
Qualitative Research
Small Group/ Individuals
Open discussion guideline
Not a tool for generalization/ representativity
In-depth understanding to understand the context
Qualitative Research (results)
Summary within learnings / Verbatim
Net Promoter Score (NPS)
The Net Promoter Score (NPS) measures customer experience and helps predict business performance.
It is based on a single survey question, asking respondents to rate something from 1 to 10.
Generally, respondents are asked to rate how likely they are to recommend this something.
How to calculate (NPS)
Evaluation 9+10 (as a percentage) - (MINUS) evaluation 1-6 (as a percentage) = NPS
Research > Feedback > Validation process
The challenge is to establish whether have correctly identified the problem space (the market/segment for whom you are working to solve a problem) and the solution space (the product you are aiming to develop and build)
In order to gauge market interest in our product, we must run research, gather feedback, and validate our ideas
Research > Feedback > Validation process (STEP 1)
Identify the market/segment
Define your target segment; who has a need/problem to be solved, and who is most likely to buy
You need to find 5 prospects for each ideaIf
It seems impossible, your market is either too small or too hard to reach
Demographics, psychographics, segment size and description, Evaluate the segment.
Use your network and your creativity to connect with potential candidates in your target audience: do you have friends, classmates, teachers, family, or anyone in your personal network within 2 or (maximum 3) degrees that fits your target?
Be precise in who you want to address; saying you want “beer drinkers” is NOT the same as saying “consumed beer on at least 3 different occasions in the last 2 weeks”
You need to find 5 prospects for each idea
If it seems impossible, your market is either too small or too hard to reach
Research > Feedback > Validation process (STEP 2)
Identify their problem
Gathering context and getting to the root of the problem: understand the end objective for the person you want to help; what are they actually trying to get done
“What are you trying to get done, and why?”
For this, you will have to ask why… you can use the 5-Whys model: each time a question is answered, repeat what they said and ask why they want to do that (you don’t have to ask “why?” FIVE times, but you will unlock a process or a lack of a process)
- The concept of a “Job to be done”: perspective to help you understand what is truly driving the customer
DO NOT ask them what they want…!
Research > Feedback > Validation process (STEP 3)
Ideate the solution
You will want to focus on three key steps:
Gathering context
Analysing their current solution
Finding opportunities
“What are you trying to get done, and why?”
“How do you currently do this?”
“How could this be better?”
Focus on two things:
Understand the end objective for the person you want to help; what are they actually trying to get done
Make the most of your conversation with 5 individuals for each of your product ideas to help you decide which one to develop
Value proposition
What products and/or services do we offer?
Why should the consumer choose us, and not the competition?
What makes us better value than our competition?
Online value proposition
What do we do in our e-commerce that is not available in our competition’s offerings, or in our own offline offerings?
The means-end product chain
How the consumer goes from the tangible to the abstract…
Connecting the consumer’s…
Types of product knowledge
Attributes, characteristics (product-related)
Benefits, positive consequences of use (user-related; externally driven)
Functional»_space; tangible outcomes of product use
Psychosocial»_space; psychological/social outcomes of product use
Values it helps you satisfy or achieve (user-related; internally driven)
Instrumental»_space; preferred modes of behavior
Terminal»_space; preferred end states of being
Core»_space; consumer knowledge about self
Prototyping
The critical first step in evolving from an idea to a specific product offering is deciding and clarifying the details of the product/s you will offer your target
These are the product features and functionality:
what is your product
what does your product do, exactly
what does your product NOT do
Once you have decided and agreed the product features and functionality, you must decide how you want to show your user these key features, and what your user will encounter upon connecting with your product
Product Concept and Concept testing (the concept)
The concrete expression of the solution to the needs of a specific group
It should include a description or presentation of key elements which will affect the perception of the product/service; these may be the shape/format of the product, physical attributes, design aspects, name of the brand, size and price
The way to express a situation where consumers find themselves…
Problem»_space; What do I want/need?
Solution»_space; How do I help?
Reason why»_space; Why should they believe me?
Product Concept and Concept testing (The solution)
The solution our brand/product provides the consumer, and how it satisfies the consumer’s need
It is closely related to the what the product will represent in the consumer’s mind, and especially to the functional and psychosocial benefits the consumer obtains
It is directly related to the ideas of “what we do” and “what we want to be”
It must be relevant, simple, direct, and associated to the need outlined in the Problem
The Solution must be written from the perspective of the brand/ product
Product Concept and Concept testing (The problem)
The verbalization of the consumer’s unsatisfied need
This unsatisfied need represents a problem for the consumer, which we will try to understand and express using insights
It must reflect the consumer’s situation, concerns, needs, and desires, and is directly related to the idea of “what we believe”
Paraphrasing Leo Burnett, an insight is something the consumer doesn’t know he already knows about himself:
something internal to the consumer, with its origin in the person
a truth about the person’s life that appeals to emotions
the reason why people think, act, and feel the way they do
something associated to a problem that a brand and its products solve
Therefore, the Problem must be written using language our target consumers would actually use, from their perspective
Qualitative research is crucial: we have to discover verbatim expressions that will reveal the real needs of our clients
Product Concept and Concept testing (The reason why)
Why our product solves the consumer’s problem (why the benefit satisfies the consumer’s need); how it addresses the insight we have detected and then verbalized in the Problem
IT IS NOT THE REASON THEY WILL CHOOSE YOU»_space; THAT’S YOUR VALUE PROPOSITION
The consumer must understand it and believe it, and it must be relevant
The Reason Why is generally based on product attributes, those demonstrable and relevant characteristics that will justify and guarantee the Solution solves the Problem
The Reason Why must be written from the perspective of the brand/product
Concept test (Objectives)
Check consumer interest in the product
Identify who are the potential buyers
Likes/dislikes about the idea exposed
Concept test (Methodology)
Concept exposure + questionnaire (hall test)
Concept test (specific learnings)
Understandable
Likes y dislikes
Likeable
Relevant
Different
Credible
Interest
Confirm target
Location, moment, and frequency of use/consumption
Source of business
Coherent with the mother brand
Favorable/unfavorable comments
