The new formula claims to incorporate neuroscience to understand the consumer's perception of a product.
Ipsos ProductQuest has introduced a feature called Implicit Reaction Time (IRT), claiming it will give a better insight into how consumers really feel about products. The IRT will be integrated in its product evaluations.
The company says that the formula involves a neuroscience approach, which will be able to provide clients with a deeper understanding of consumers' non-conscious perceptions of their products. Specifically, IRT measures how strongly consumers feel about a product, versus a benchmark or a competitive product, by succinctly capturing how much time it takes a respondent to associate multiple attributes with the product.
Says Vidya Sen, executive director at Ipsos Marketing, India, "Our clients are striving to create superior products and one of their greatest challenges is identifying exactly where improvements to the product should be made. With IRT, we bring product testing to a whole new level by uncovering thoughts and feelings about products that consumers are not even aware they have. Our clients are gaining a new perspective that enables them to think differently about which features can help differentiate their products in the marketplace."
Sen adds that what people convey consciously in product ratings is often a function of lip service and may not reflect innermost feelings, which is why leading brands are sometimes rated highly on most attributes when perceptions may, in fact, be beginning to tarnish. IRT can identify when consumers are only being polite, or, better yet, spotlight when a specific attribute is potentially far more important than otherwise recognised.
IRT can be seamlessly embedded into traditional surveys to provide an understanding of both conscious and non-conscious aspects of consumer responses. The application of IRT to product testing is done through the partnership of Ipsos and NEUROHM, an international consumer neuroscience specialist.
Ipsos is an independent market research company founded in 1975. It has offices in 87 countries, and provides expertise across six research specialisations, namely advertising, customer loyalty, marketing, media, public affairs research and survey management.