Concept Test
PriceBeam's Concept Test (CT) study enables users to test different marketing concepts for preference and value as well as validate conceptual product ideas with real consumers and understand which features and pricing levels resonate best with them. In a Concept Test study, companies can focus on four key elements: Optimal Price Settings, Feature Pricing, Assortment Pricing, and New Product Pricing.
PriceBeam Concept Test is part of the PriceBeam RGM360 Solution

What is a Concept Test Study?
Concept Test Study helps understand which concept attracts the most consumers and could result in the highest purchase intent / influence their purchasing behavior and those disliked. PriceBeam’s Concept Test study is based on the popular scientific methodology of A/B testing..jpg?width=500&height=346&name=ORANGE%20FLAVOUR%20COMBINED%20(1).jpg)

Unlock key insights
Gain insight across the overall sample of a market tested and the opportunity of creating key segments such as channels, retailers, specific demographics, and more to unlock powerful insight to tailor their pricing strategy accordingly. Concept Test will provide key insight into the overall product performance, purchase intent, product perception, and price expectation. There will be diagnostic insight against each concept tested highlighting valuable brand positioning data. Insights on potential product prices will also provide an insight into consumers’ Willingness-to-Pay. Who Concept is for?
Innovation Teams:
Innovation teams benefit from a concept test study as it helps them understand how consumers will react to any new product concepts.
Marketing Teams:
Marketing teams benefit from a concept test study as they will be able to uncover key insights into brand perception and purchasing behavior to understand which concept works the best.
Industries that would benefit from CT:
Houseware
Hospitality
Services
Consumer Goods
Technology
Pharma
Achieve your RGM goals
Holistic Approach to RGM
PriceBeam uses a holistic approach to achieve your revenue goals by integrating pricing, product, promotion, and various strategies across the organization to optimize all the factors that drive revenue growth. This approach provides users with a complete 360-degree view of revenue.
Advanced Insights
Leverage the power of data. Simplify data management with automated systems that load your data into a data repository, reducing manual input errors and increasing efficiency. Use world-class reports provided by PriceBeam experts to identify price opportunities or revenue issues.
Speedy Global Delivery
Results are available in as little as a day and never more than a few weeks, regardless of complexity. PriceBeam's cloud platform also delivers results 24/7 Globally in 127 markets.
Resources
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