PrefSolve™: The Core Decision Support Tool that Undergirds Our Strategic Approach to a Wide Range of Business Issues.
The Traditional Approach to New Product Design
 

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.

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