Most Product Innovations Fail
This is the reality of the marketing world, yet most product concept research is based on rational, System 2 insights that comprise very little of the consumer’s actual decision-making.
Our System 1 Approach
Modern psychology research has shown that we are better at predicting the behavior of others than that of ourselves. Our Predictive Market Concept Evaluator Study uses the power of System 1 peer prediction—instead of asking people how likely they are to purchase a product, we ask them to invest in the products they believe will have the most success, providing a more accurate read than traditional concept screeners.
What It Could Do For Your Brand
The Predictive Markets study can help identify concepts with the greatest potential for your brand.
- It can also show why these concepts could work well, which can help inform your marketing plan.
- With diagnostic questions that pressure-test the idea through the lens of buzz, relevance, brand fit, and more, the study can show the different roles a concept can play (e.g. buzz-building vs. business-generation).
Where it’s Worked Before
Yum! asked Collider Lab to prioritize COVID safety tactics by gauging interest with consumers. We tested concept ideas like contactless pick-up, safety guarantees, etc. and identified the most relevant and desired safety measures.