Creating strategies and products that customers actually want
Developing more attractive products at lower costs
In theory, product development should reflect customer desires. In practice, this rarely happens. We show you how to integrate the customer successfully into the development process. We never assume that the customer will behave rationally. Instead we rely on insights from behavioural economics. The result: More attractive products at lower costs, for B2C as well as B2B.
Our empirical consulting approach has been proven effective in many international projects and throughout various different industries:
Case study: Vocatus helps a car manufacturer to develop the optimal car
The development of new cars is becoming increasingly complex, faster, and more demanding. Long gone are the times when a new model could be developed in a lab and then successfully released to market using high pressure sales and marketing techniques. Our customer from the automobile industry had caught on to this change. Automobile manufacturers face a whole host of challenges that influence their product development:
- Attending to diverse markets and customer needs
- Identifying and occupying niches
- Integrating new technologies
- Efficiently differentiating products
Orienting strategies toward the actual purchasing behavior of customers
In order to confront these challenges successfully, product development requires appropriate information about purchasing behaviour. Vocatus advised the car maker in this respect and investigated the following issues:
- Which product features were relevant to the respective markets and cultures, and which homogeneous customer segments existed
- How the competition was positioned and which positioning options were available as a result
- How product concepts could be optimised with respect to customer-oriented "trade-off" decisions
Tangible criteria for optimal product and portfolio strategy
As a result, we developed (among other things) an empirically sound measurement system, which the manufacturer could use to make targeted decisions about which car concepts were preferred by customers. This method provides systematic answers to questions such as whether the customer prefers a car concept with a trunk that is 20 liters larger in volume or a motor that is more powerful by 20 HP.
"I do not believe there is any other organization in the world that could have successfully [...] delivered these results for us."
Head of Propositions & Pricing