A leading chemical manufacturer wanted to test price sensitivity of a new commercial floor cleaning product. They also wished to determine the relative appeal of purchasing this new product alongside other existing brands as part of a “cleaning system.”
Russell Research designed a two-phase program where the quantitative phase measured price elasticity and determined the relative appeal of the products. We then utilized a follow-up qualitative phase to bring to life the reasons for the relative appeal of the products.”
The research identified the optimal price point and product appeal of the new product. Notably, the quantitative determined that the relative appeal of the “cleaning system” had limitations. However, via the qualitative phase, we were able to understand the “why” behind that performance and inform a sales strategy involving product demos vs. the competition that overcame those limitations.