| In the traditional approach to
new product entry, a researcher constructs a survey to identify
the optimal feature set for the new product. The more advanced approaches
collect preferences using conjoint or discrete choice analysis.
Next, potential concept products are defined inside a simulation
model. The simulation model presents these concept products to a
set of virtual customers. Lastly, advertising effectiveness testing
identifies the messages that will result in the highest product
recall and actual purchase penetration. |