New technology demands new tools, and keeping up with expanding areas of research isn’t easy. Product development cycles are often squeezed into a short timeframe, requiring stakeholders to make quick decisions with little or no supporting data.
We’ve come up with an innovative way to get customer feedback fast—at any point in the lab product development life cycle.
It’s called RateMyProduct™, and does, well, pretty much what it says it does.
You may be trying to decide which features will be most important to your customers. Or whether or not your brand name will engender confidence in your concept. Perhaps you are trying to gauge whether or not your pricing is close enough to what labs would be willing to pay.
RateMyProduct is a neat new lab product assessment tool that can give you direction on customer preferences so you can make quick decisions under tight deadlines.
Due out in November this year, RateMyProduct will enable you to conduct a quick assessment on your product or product concept.
Here’s how it works. You submit the RateMyProduct form describing your product, its features and pricing (proposed or actual).
You also get to choose the type of audience you want rating your product. The respondents are segmented by technique and area of research. With over 30 categories of techniques to choose from, you can have a high degree of confidence that the our respondents will have a working knowledge of what your product does.
We then solicit feedback from those researchers, who are drawn from select groups on The Science Advisory Board, an expert network of over 70,000 scientists.
100 US or EU researchers from The Science Advisory Board will tell us what they think about your product or product concept. Within 3 business days, you get your RateMyProduct Scoreboard, with scores on the following attributes:
- Market Receptivity
- Product Utility
- Purchase Criteria
- Pricing Appropriateness
- Message Effectiveness
Plus, you get an overall assessment of how your product is doing. Your Customer Value Score is a strong indicator of how well your product is performing or what you can expect from your concept.
And did I mention that this is a low cost alternative to a full-blown market research survey?
We think you’re really going to like it. We’ve already tested RateMyProduct with several major life science supplier clients of ours. They were quite happy with the concept—and the results.
Stay tuned for more details on RateMyProduct, coming soon.
Here are some ways that BioInformatics LLC supports life science suppliers during each stage of product development. For a quick snapshot to shed light on any of these phases, consider using our new, low-cost product assessment tool, RateMyProduct.