Optimizing Products and Services to Maximize ROI
Protocol has tremendous experience in optimization research, implementing trade-off
and allied approaches, and covering product and service categories as diverse as
airplanes, combine harvesters, coffee, and banking services.
Our exclusive OptiProSM approach identifies the ideal combinations of product features,
benefits, and service offerings to balance customer satisfaction with maximum ROI
for the brand.
We collect the required data via computer-based captures, in person, or by Internet
surveys, taking consumers through choice tasks that reflect more accurate real-world
scenarios.
We capitalize on conventional and advanced "trade-off" approaches that include Conjoint,
Discrete Choice, Hierarchical Bayesian, and Simalto modeling, and use advanced methods
to develop consumer segmentations based on the importance of different features
in the buying decision.
Importantly, via our PC-based simulation models, we can develop optimal configurations
for both the overall marketplace and specific consumer segments, enabling testing
of different configurations for ongoing product development.
Key marketing issues we address via product and service optimization include:
- Establishing the optimal product design that will maximize customer preference
- Estimating the potential for new equipment and services as an integrated part of
the design stage
- Identifying opportunities to preserve or maximize customer preference within specified
price constraints via current product modification
- Pinpointing which new features need to be integrated into the product mix
- Identifying areas where costs can be reduced without affecting market perception
- Establishing price sensitivity
- Predicting the impact of competitive action in the market, both in terms of response
from existing products and from new introductions
- Measuring the impact of brand value and identifying which components of brand image
and equity should be emphasized to maximize promotional effect
- Simulating virtually any possible product or service configuration imaginable