Synovate launches new market potential solutions
31 May 2007
CHICAGO — Synovate has introduced a leading-edge suite of models and simulators for quantifying the market potential of a product or service.
The worldwide launch of the MVP – or Market Value Potential – solutions coincides with the creation of Synovate MarketQuest, the global market research company's newest practice which evolved from its Product Design & Development specialist division. Synovate MarketQuest offers international expertise and innovative solutions across all stages of the product development process, from initial concept to development, packaging and pricing.
Mary Beth Lake, CEO of Synovate MarketQuest, says that MVP addresses a key business challenge: getting higher sales and profits from new or existing products or services. "MVP helps marketers find where untapped potential is hiding and delivers greater insights for driving higher revenue and profits – without the risk and cost of full market exposure."
MVP is based on one of the market research industry's most powerful simulation engines, which allows marketers to experiment with marketing dynamics (awareness, distribution, promotion) and product characteristics (concept, features, packaging, price).
This state-of-the-art technology provides brand and product managers the ability to explore a variety of business scenarios and see their immediate impact – in real-time.
The Synovate MarketQuest platform is the result of 25 years of meticulous development work, adds Lake. "By offering MVP together with our robust and proven solutions for developing and improving products, designing the most effective packaging and determining optimal pricing, Synovate MarketQuest provides unrivalled insight into all aspects of the product design and development process."
More information about Synovate MarketQuest and MVP, including a working simulator, is available at www.synovate.com/marketquest.