.Advanced marketing research tools include analytical procedures to quantify value and price sensitivity and psychometric techniques to reveal underlying position of the firm and its products. These techniques are usual adjuncts to standard interview questions. However, they tend to be less important than the direct open-ended questions in initial exploratory personal interviews. Analytical tools are often used with "quantitative" or survey studies. They are designed to quantify the extent of opinions. We use them in interview or qualitative studies to verify respondent opinions and to provide insight for the preparation of future quantitative work.

A. Economic Value-in-Use Analysis

The purpose of value-in-use analysis is to provide economic insight into cost/value elements to the respondent and to obtain an economic measure of new product value. It is critical to obtain estimates of the costs and values impacted by the new products. These elements may at least include:

B. Rating and Ranking Scales (Customer Satisfaction)

.Rating and ranking scales are typically used to get relative estimates of importance and subjective product performance information. These are usually used as stimuli to concurrent open-ended discussion questions. Customer satisfaction as well as new product features can be tested. Usually ranking scales are preferred when dealing with importance of features*. Rating scales tend to be preferred for the comparative performance.

C. Price Sensitivity

Price sensitivity is one of the most difficult measurements done by marketing researchers. While explicit methods are open to criticism, they do provide insight into the price that industrial buyers are willing to pay*. Usually several questions are used to elicit price estimates.

D. Projective Techniques

Projective techniques are useful to probe into broader perspectives of the respondent. Usually the interview focus specifically on the new product concepts and the present operations of the respondent. It is often useful to expand into more creative realms.

1. Other Products and Services that the Company Sales

Asking the respondent what products and services the firm may provide surprising results and new ideas for products and services. Usually respondents believe firms are far more active with a far larger product line in their industry than reality. However, such beliefs provide a foundation for new business development.

2. Where other people buy

Asking respondents what other companies pruchase, can reveal the projected value of the product. For example, if it is believed that leading firms buy from the firm, it is implies a prestige associated with the firm. The reverse is also true. If cost oriented firms prefer a supplier, it implies a lower quality.

3. Company Image

Similarly, asking what is the image of the firm and other competitor can reveal how it is viewed. This can be done creatively by asking the respondent to describe competitors as animals or as types of people. This can be expanded to create a story line around them. (Note this is best done over food and drink.)

• Types
  • (Discrete) Choice Modeling (Pricing)
  • Full Profile Conjoint (Features)
• Objectives
  • Simulate Markets
  • Optimum Design
• Use with Small Samples is Limited

• Operations
  • Expose Respondent to a Number of Simuli
  • Solicit Reaction to Each or Combination
• Regression Used to Extract Values or Impact of:
  • Prices of Competitors (Share)
  • Offered Product Features (Value/Price)
• Orthogonal Partial Balanced Statistical Design