Minimizing the risks of innovation in bottled water design: An application of conjoint analysis and focus group

摘要

The rapid development of current markets justifies brands’ need to constantly and innovatively modify their products in order to meet the needs and preferences of increasingly demanding consumers. Advertising companies’ main objective for attaining leadership in their respective areas is to adjust these changes to suit consumers’ preferences and necessities. In this context, a well-known company that deals in bottled water considered modifying some elements of its current containers. To minimize risk, a hall test was carried out on 100 consumers, in which the task of ascertaining consumer preferences using real stimuli and subsequent application of the?conjoint?algorithm on the data (quantitative research) was combined with personal interviews with consumers (qualitative research). The integration of quantitative and qualitative derived data was useful to show that the intuition of the people responsible for the brand or the creative aspect of advertising is not always accurate and can be completely different from the preferences of the final consumers.