SOURCE: MarketTools, Inc.

March 21, 2007 08:00 ET

MarketTools® Announces Concept Testing With Market Potential Index™ (MPI) to Better Identify Strength of New Product Concepts and Get Products to Market Faster

Breakthrough MPI Concept Test With Interactive Text Analysis Provides Long-Run Market Potential and Actionable Insights for Optimizing the Most Promising Ideas

SAN FRANCISCO, CA -- (MARKET WIRE) -- March 21, 2007 -- MarketTools, Inc. announced today the addition of another new, innovative offering to its marketing research Concept Development and Testing Suite to help companies better identify big ideas earlier in the product development process. With MarketTools' new MPI (Market Potential Index) Concept Test, companies can identify product ideas with the strongest business potential faster and increase the odds that those products will become successful, sustaining businesses.

With increased pressure to drive growth and profit through innovation, product and service companies need to quickly and accurately identify new product ideas that will win in the marketplace. With the MPI Concept Test, MarketTools helps companies cut their time in finding winners by providing an innovative approach to concept testing that incorporates interactive text analysis tied to market potential. Unlike other approaches, MPI Concept Test goes beyond measuring how many consumers would purchase a product to gauge all the components of an idea's business potential. The study is conducted early in the concept development process, even before marketing plans and traditional volume estimation models are done. Additionally, interactive text analysis helps to refine these high-impact ideas by gathering in-depth consumer reactions to specific components of the concept description.

"As a leader in product development research, our approach provides companies with a valuable framework for concept testing that minimizes uncertainty and maximizes smarter idea selection," said Bob Bruce, chief of research, MarketTools. "Along with helping companies better answer the question 'how big is this idea?' we give them the online tools to test which components of that idea will work best with target customers. The combination of methodologies equips companies with the most accurate information possible to increase their chances of success in the market."

Availability

MPI Concept Test with interactive text analysis is available now as part of MarketTools' Concept Development and Testing Suite. This Suite of available offerings includes tools for identifying winning product platforms from trend data, as well as Programs of Research with Interactive Scorecards that utilize cross-product learning to guide ongoing improvement in concept development. For more information, visit: http://www.markettools.com/research_services/research_solutions/npd.php

About MarketTools

MarketTools is the defining provider of on-demand market research, giving companies and individuals the ability to continuously understand their target customers through innovative approaches based on advanced technology, research expertise, global market reach and an online panel community of over 2.5 million individuals worldwide. MarketTools' full-range of research applications and services provide organizations from Fortune 500 companies to small businesses and non-profits with unique access to their target markets to uncover unmet needs, reduce time to market and capture market share. Further information: www.markettools.com

Contact Information

  • MarketTools Media Contact:
    Rebekah Mitchell
    415-933-6253
    Email Contact