STEP is a controlled simulated test market conducted within the context of a questionnaire. Each potential customer is exposed to a simulated marketplace with a realistic array of competitive products or service offerings. The respondent uses a special rating scale similar to the purchasing process. Randomly equivalent groups of respondents are exposed to different marketing strategies for your product(s). We measure changes in your potential sales level as a function of each strategy you wish to explore.
New Products and Line Extensions
assessing sales potential
assessing cannibalization and source of competitive volume
impact of price on volume and profit potential
impact of alternative names, model numbers, etc.
impact of alternative value propositions or advertising strategies
Current Products
impact of price increase or decrease on volume and profit potential
impact of product modifications on sales potential
impact of alternative re-staging or positioning strategies
assessing vulnerability to new competitive activity
impact of alternative ad strategies and executions on sales potential
impact of alternative bundling strategies
Brand Equity
incremental sales value of your name in current categories
value of your name in new categories
incremental sales benefit of bundling your product with those of other companies
Read about STEP in "The Laws of Choice: Predicting Customer Behavior," chapters 4 to 11.
Copyright (c) 1998 Eric Marder Associates, Inc.
STEP is a registered trademark of Eric Marder Associates, Inc.