San Francisco, CA – Once again, the Ipsos Vantis Database has outdone itself. The powerful and proven concept testing tool recently reached an important milestone when it evaluated its 25,000th concept. Having tested this many concepts in over two decades makes the Ipsos Vantis Database the largest of its kind, and the most reliable resource available to marketers for testing new product propositions and assessing their market readiness.
“Owning the world’s largest database of services, consumer electronics, technology, telecommunication, durables, and healthcare concepts allows Ipsos Vantis to provide clients with credible benchmarks that are relevant for their category,” says John Kiser, Senior Vice President with Ipsos Marketing, Vantis Research Excellence. “Reaching the 25,000 concept test milestone validates and strengthens our ability to perform, as our database gets stronger with each concept test. That kind of power enables us to provide clients with an unparalleled richness of insight into the potential of their ideas and concepts.”
Reaching this milestone not only solidifies and validates the performance of the database, but more importantly it provides clients with proof of Ipsos Vantis’ experience and sets a credible benchmark of a concept’s performance on key survey measures (KPIs). Product concepts launched into the marketplace are matched to their KPIs in the database. By comparing KPIs for a client’s concept to the scores databased for similar competitive concepts, Ipsos Vantis delivers a relative measure of the strength of their concept. This knowledge is crucial to harnessing additional investment funds for further product development.
Kiser illustrates how it works: “Let’s say you want to test a new smartphone concept and it scores 55% on Purchase Intent. How good is this score? How likely will it be that this concept will succeed in the marketplace? By comparing it against a relevant subset of 1,200+ smartphones, mobile phones, PDAs, tablet PCs and other personal electronic devices in the Ipsos Vantis database, we can answer whether or not the concept is likely to succeed or not. You don’t want to compare the smartphone concept to set candy bar concepts, the relevant comparison set is critical to know whether your concept is worth investing in.”
The database also allows Ipsos Vantis to data mine nuggets of knowledge. For example, more than one-half of innovations with average Purchase Interest actually succeed in the market. Data mining has produced archetypes (KPI thresholds) – a Myer Briggs-like implementation where personality types are assigned to the products or services tested. These archetypes reflect where the product stands and what needs to be done to make them successful. This approach enables Ipsos Vantis to identify which of the average concepts should proceed with development and how to do so.
The Ipsos Vantis Database acts as a compass for new product ideas, measuring and tracking the success of thousands of products. The Ipsos Vantis team provides in-depth analysis and interpretation, translating the research results into potential real world performance measures like sales and revenue. The Database is global, testing and measuring concept performance in over 100 countries.
In addition, Ipsos Vantis has developed a variety of commercialization tools to help clients not only identify winning concepts but also evaluate which ideas should be pursued, decide how to configure the offering with different features and pricing, and determine the level of success in market via demand estimation.
For more information on this news release, please contact:
Senior Vice President
Ipsos Marketing - Vantis Research Excellence
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