New Product Launch Case Study

This blog post is a summary of a recent project completed by Research & Marketing Strategies, Inc. (RMS).

Background: An organization that creates outdoor gardening products partnered with Research & Marketing Strategies, Inc. (RMS) to conduct a product perception study. The client wanted to test the market perception of several new product concepts. The market research objectives were to (1) evaluate awareness of the product, (2) learn the shopping habits of target consumers, (3) measure the interest of each new product concept, (4) determine the anticipated price of each concept, and (5) obtain feedback regarding features that are most liked and/or features that need improvement.

Approach: The study consisted of a five minute online survey sent to RMS ViewPoint Research Panel members. The RMS ViewPoint Research Panel is representative of both the United States population and Central New York in particular, an area with a long history as one of the nation’s top test markets. The RMS Analytics team developed the 31-question survey in consultation with the client. The survey covered various topics which gauged shopping habits, current product awareness, new product interest, anticipated price, and most/least preferred features. Survey results allowed the RMS team to identify key consumers and segment the data by consumer group throughout the report. Fieldwork lasted approximately two weeks, with a total of 487 responses collected. After the completion of fieldwork, RMS provided the client with an in-depth report that included a dashboard, executive summary, data tables which highlighted responses from key consumers, as well as next steps and recommendations.

Results (A few highlights of the study’s findings):

• As a result of survey responses provided, the RMS Analytics team identified target consumers as those who currently own products similar to those tested and are likely to make purchases of comparable products in the future.
• The data revealed which product was favored by respondents and why that concept was more preferable than the other concepts tested.
• Features that were most and least preferred were identified to provide the client with the insight needed to make design alterations and message enhancements before producing the product.
• The research revealed an anticipated cost to determine a competitive price point for each new product concept.
• Overall feedback was gathered and analyzed which provided the client with the direction needed to produce the ideal product and market it effectively.

RMS is a full-service market research firm located in Syracuse, NY. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.

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An Acclaimed Location for More Than One Reason

The following post was written by Maggy Stewart, Marketing & Communications Coordinator at RMS.

The U.S. News & World Report examined the 100 most populated metropolitan areas in the United States and released the results earlier this month. For the inaugural Best Places to Live rankings, the 100 largest metro areas by population as determined by the U.S. Census Bureau were selected. Syracuse, New York (located approximately 13 miles from the home of Research & Marketing Strategies, Inc. in Baldwinsville, NY) ranks as number 53 with an overall score of 6.5 out of 10.

Syracuse has a metro population of 662,236, and offers residents more than a typical city in the snow belt. The Syracuse Metropolitan Statistical Area consists of three counties—Onondaga, where Syracuse is located, and neighboring Madison and Oswego Counties—each of which contain highly sought-after school districts and suburbs, including Baldwinsville, Cazenovia, Manlius, Skaneateles and more. Syracuse offers a better value than similarly sized cities when you compare housing costs to median household income, according to U.S. News & World Report. The area’s affordability makes it an appealing location for families and young professionals.

And there’s more — not only does the Central New York area offer four seasons, above average school districts, affordable housing, and convenient commutes, it is also one of the nation’s top test markets due to its demographic representation of the United States as a whole (see the chart below for the comparison).

Onondaga County has become a top choice market to test and refine campaigns and products before going national. Whether establishing a marketing campaign or developing a novel concept or product, it is vital to identify the behaviors of the intended market. This is where market research steps in. Executing a market research project in an ideal and sound test market establishes a more accurate depiction of how feasible the campaign, concept, or product is. When you want to take your product or service national and can’t test the entire population, it makes sense to test a region that closely mimics its demographics. Onondaga County is not only a prime market for those interested in testing for local or national campaigns, it is also progressively becoming one of the premier places to call home.

Interested in learning more about using Onondaga County as the test market for your product or service? Contact our Senior Director of Business Development & Corporate Strategy, Sandy Baker at SandyB@RMSresults.com or 1-866-567-5422.

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