IdeaScreen 2013

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Information about IdeaScreen 2013

Published on August 27, 2013

Author: visioncritical


Standardized approach to validating new ideas early in the innovation process

Stages of Product Development

Product Development Meets Modern Demands Problem = Traditional product development cycle takes too long, costs too much and can be inefficient ! Solution = IdeaScreen

IdeaScreen: Scalable Platform for Early Innovation Built Upon the Premise of ‘Test, Refine & Retest’ Products, Services, Packaging, POS….Any Static Stimuli Provides Low Cost & Rapid Turnaround via an Online Reportal

How It Works • How It Works Author Take your best ideas to market. Faster. Visual Questions Reportal Take Action Built from a standardized questionnaire template configured just for you, an intuitive authoring wizard allows you to upload ideas in minutes. Use visual questions to gather deeper insights. Quickly analyze a set of ideas using visual charts, action standard grids, heatmaps and word clouds. Compare new ideas to your own personal norms database. Take winning ideas further into product development. Concentrate your resources on worthwhile projects.

Core Measures • Core MeasuresPurchase Intent Price/Value Uniqueness Need Fulfillment Likeability Plus one of the following: • Believability • Relevance • Seek Information • Brand Fit + Used to assess your ideas with time-proven measures on predicting new product launch success.

Category Measures • Category MeasuresBrand Perception Perceived Benefits Product Effectiveness Packaging Convenience We provide the ability to pre-specify up to 5 optional questions to meet your category/ brand needs. Defined based on your requirements

Diagnostics • Diagnostics Open-End Questions To identify aspects that need to be changed Taking idea screening beyond a pass/fail system, we provide information on how to further refine ideas. Additional Highlighters For respondents to identify which elements: • Are most likeable • Are difficult to understand • Are new and different • Decrease purchase intent

Automated Reportal • Automated ReportalSummary Grid Normative Comparison Action Standards Grid Impact Analysis Highlighter Heatmaps Verbatim Word Clouds 24 hour access to web-based reporting application with a wide variety of automated system reports

Industry | Technology Client Since | 2007 C H A L L E N G E • Quarterly evaluations among consumers, info workers and IT decision-makers • Quick turnaround from field launch to results • Track changes over time • Comparison to current normative database (8 years of data) • US, PRC, Brazil and India S O L U T I O N • IdeaScreen Plus tool with some customization (weighting, reporting) • The automatic databasing and normative comparisons (with segment, demo, GEO filters) and the online reporting solution are key differentiators • Online surveys quarterly across multiple audiences and countries • Deliverables include online reportal and summary dashboards R E S U L T Insights feed into future technology development and planning and are used across several business groups, globally Case Study: Global Technology Manufacturer

Case Study: Confections Concept Development Industry | Consumer Packaged Goods Client Since | 2010 C H A L L E N G E Constant development of new product ideas. While some innovations are periodically tested, others are discarded without any customer input Need faster turnaround, lower cost and more standardized alternative to traditional early- stage idea testing S O L U T I O N • Create , test, refine, retest • Fast turnaround • Automatic normative comparisons • Integrated Online Reporting • Lower cost R E S U L T • Composite Impact scores and key measure quintiles allow for quick decision-making • Most of the ‘winning’ ideas went on to achieve successful ratings in the BASES forecasting • Recently expanded to other divisions in the company

Case Study: National Quick Serve Restaurant Industry | Restaurant Client Since | 2008 C H A L L E N G E Needed a fast yet effective solution to make product development decisions for final- stage concepts across categories. Also wanted access to test concepts on pre- existing panel Most research was to be conducted in both French and English S O L U T I O N • Create a normative database with ability to filter and compare categories • Ability to conduct IdeaScreen studies on panel to test ideas on brand loyalists or to avoid sampling costs • Multi-lingual solution to access both French- and English- speaking individuals R E S U L T • Clients find IdeaScreen reportal to be user- friendly and intuitive; they love highlighter diagnostics and word cloud features

More Information • More Information More Information Online Reporting Tool Demo: click to launch application password: 0ba5a Video Reel of Reportal: click to launch application

Standardized approach to validating new ideas early in the innovation process

IdeaScreen Overview IdeaScreen is Vision Critical’s automated early-stage idea screening tool. It offers rapid turnaround using a standardized research methodology. IdeaScreen offers the following benefits: – Fast Turnaround: Results are available within days. – Automatic Normative Comparisons: Results from every idea screening study conducted are housed in a client specific web-based reporting interface, allowing for normative benchmarking and historical comparisons. Norms are searchable based on pre-specified classifications, allowing creation of comparable norms for each idea. – Integrated Online Reporting: Rather than manually creating a custom PowerPoint report for each study, our software solution stores the data in an easy to use online reportal in which standard reports are generated automatically. Full PowerPoint reports can also be created (at additional cost) as needed to analyze key themes across ideas. – Lower Cost: Significantly lower cost-per-study than traditional ad-hoc idea screening methods.

IdeaScreen: Application Components The IdeaScreen application is comprised of 3 main components: 1. Authoring 3. Reporting2. Responding

Create Your Standardized Questionnaire Template The first step will be to set up your own standardized questionnaire template. We program the questionnaire for you just once, and it’s ready to go each time you have ideas to test. Screening and Filters Core Questions Category Specific Questions Diagnostics Additional Questions For each idea…

Create Your Standardized Questionnaire Template Thinking ahead to your reportal, during the set-up phase, we will determine how you will want to filter your results and how you will classify your ideas. Data filters are related to respondent data and allow you to filter your reports by various demographic questions Norms filters are idea level filters to ensure that you’re comparing like with like in your database. Ideas are classified as they are uploaded. These classifications drive the norms filters in your reportal.

Fieldwork As your survey is programmed just once, you can get each individual study ready within minutes and just 4 quick steps! 1. Create Study

Fieldwork 2. Select Questions 3. Upload Ideas Based on the question options that have been set up in your standard questionnaire These can be text only or include visuals

Fieldwork 4. Launch! Just add in your screening and additional questions and launch to your Insights Community. The standard IdeaScreen configuration includes one sample source. Depending on your objectives, you may consider adding on alternative sample sources, including our market panels. Via Vision Critical Global Market Panels Via Your Custom Insight Community Go beyond your customer view to the greater market to understand those making decisions. • Rapid gen pop parallel testing & validation Your own private research lab for innovation, consumer & shopper insights! • Professionally recruited & managed by Vision Critical • Quant and qual seamlessly integrated in ONE solution • Rapid, longitudinal research and ongoing incremental learning

Online Reporting Application Standardized reporting application gives you access to: – Summary reports for comparing multiple ideas to one another. 1. Key Measure Summary including Idea Screening Score (ISS) 2. Action Standards Grid based on selected key measures (i.e., Uniqueness and Appeal) – Idea Details Reports for each individual idea 3. Detailed reporting on key measures for each idea 4. Impact Analysis Scores for each idea 5. Verbatim Word Cloud 6. Highlighter heatmaps

Summary Report Examples Key Measure Summary Report includes the aggregate Idea Screening Score (ISS), and core metrics such as purchase intent, likeability, uniqueness, etc. The ISS is a weighted composite score for each idea which summarizes all of the key core questions into one value. The answers for each of the key measures are weighted based on the influence that each question has on driving purchase intent. The weight is determined by the values of the Impact Analysis for each idea. The Key Measure Summary report is color-coded into quintiles to show where each idea falls in relation to other ideas in your database. Clicking the header in each column re-sorts the ideas based on that particular metric.

Summary Report Examples 24 Ideas that fall in the upper right (blue) quadrant are high performers that should be moved through to the next stage of development. Ideas that fall into the yellow quadrants show potential, but need to be re- worked and retested. Those in the gray quadrant show limited potential for success and should be abandoned. The axes are configurable, allowing users to select which metrics to use for each axis. The Action Standards Grid summarizes key measures on two axes to provide a quick view of which ideas have merit and which ones need reworking. Hovering on a flag brings up a thumbnail of the idea description/sketch for easy reference.

The Key Performance Indicator Report shows how each idea performs on all key metrics. Idea Details Report Examples 25 Idea Details Reports summarize all results for a particular idea, including core metrics, follow-up diagnostics, highlighter heatmaps and verbatim word clouds. Concept descriptions and images can be accessed through a carousel, where clicking on the thumbnail pulls up the full screen description and links to the detailed reports.

Idea Details Report Examples Impact Analysis Scores are generated to help you determine how important each metric is in driving overall performance. Similar to a driver analysis, our impact analysis helps you understand what metrics are driving interest (or disinterest) in your product. This can be an important tool to use when writing and re-writing the idea for future testing purposes. Combined with our enhanced highlighter analysis, we can gain useful diagnostic information from simple quant testing.

Idea Details Report Examples Automated Verbatim Word Clouds and Highlighter Heatmaps are powerful ways to quickly summarize open-ended responses for why respondents do or don’t find a particular idea appealing. Responses are displayed as a word cloud where the larger the font, the more frequently the word was mentioned. Clicking on any word in the word cloud pulls up all verbatim comments. These results can be filtered by key sub-groups of interest based on filters specified during the set-up phase. Heatmap analysis reveals, at-a-glance, the strengths and weaknesses of the text, definitions and visuals. Open-ended discussion explores the rationale and opportunities for refinements

IdeaScreen Service Levels Whether looking to service your IdeaScreen system internally, or get by with a little help from your friends, Vision Critical offers flexible service offers to ensure that each of our client’s unique wants and needs are addressed.

Self- Serve Assisted- Serve Full- serve Software licensing Software training Research project design X X Template questionnaire design X X Programming of template questionnaire Configuration of reportal QA of template questionnaire Consultation on & review of concepts X X Consultation and review of sample feasibility X X Uploading of ideas & authoring for each individual study X QA of each individual study X Deployment of each project X Monitoring of study and synching of data X Reporting via reportal per project Additional offline reporting per project (for additional cost) X X IdeaScreen Service Levels

• Allowing you to quantify the potential opportunity for concepts. – A Proven Forecasting Method: Vision Critical partners with Dr. Lynn Lin (founder of Bases) for a preliminary Year 1 volume forecasting, utilizing his 40 years of new product development experience to provide accurate and proven results. He has performed thousands of forecasts throughout his career, and literally pioneered modern day forecasting methods. – External Norms: Access external category norms for a low fee. – Driving Action and Business Impact: Volume forecasts are a key element in deciding which ideas to invest in. Data and recommendations are delivered to assist in these critical decisions. Market Sizing, Incrementality & Forecasting Options

Best Practices For Writing Effective Concepts Content • Enough information so people can decide if they want to buy it • Not so much information they would not get it on a package or advertisement • What it is • Why I’d want it • Where to buy it • What it costs Headline • Single most important benefit—the idea’s “reason for being” Support Paragraph • Support the headline • Explain more about what the product is • Provide reasons to believe the benefit What Else? • SKUs or line items, if needed • Where it is sold or accessed • Price is always recommended, for a better read on purchase interest Brand It • Brand name contributes significantly to interest • People do not buy unbranded products • If you don’t know the brand, select a candidate it could fall under or test multiples

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