Okay. Welcome back again to our Concept of Customer Insight Techniques Course. I'm James Lenz with the University of Illinois. And today, we're finishing up the lecture on module two, dealing with concept testing. And this will be a short set of lecture notes to prepare you for preparing a survey. Especially for, I'd like you to work on a well-known product not that your idea so much, but on a product that you know quite well about and be able to prepare a survey for this and I'll walk you through the steps. Again with conjoint analysis, there's three major steps: There is collecting the data. So this is what we're going to do today is have you prepare a survey and outline this survey and plan this survey, and then we'll come back to have you perform that survey in the next module, and then we'll do the analysis on that. But at this step I'd like you to do is just prepare that survey and have your peers and have you judge other people how well has is it been prepared? And then will be coming through step two and step three in the next modules of this course. So I want you to plan a taste test, pick something you like. You saw I picked macaron cookies. Is there candy bars? Or is there snacks? Or is there finger food? Or is there soups? Or is there? There's many things that are out there wherever you are in the world, that you must have some curiosity about, is which is offering the best value. And maybe you already know that people think that this is the best one, now you can actually come up with some quantitative data to validate is that really the best one? Is that providing the best value, or is it people just after the lowest cost? Is that what they think is the best one? And you can find out through this analysis and answer those types of questions. So, what you have to think about again is which two categories are important. Is it making the initial sale? Is it growing the business? Is it making the most money? These are the points as a baker as I said I looked at, if I look at making the initial sale this would be appearance. I want a really good-looking cookie. If I want to grow the business, it's probably more important to put my money into the taste of that cookie. Invest in the taste, because this will bring people back and they'll talk about that that's being maybe the best tasting cookie. Or is it making sure that I make money? Do I have to really make money first? And then I have to know what my prices are and what the competitions' prices are, so that I'm offering a little bit more value. But I also have to make sure I offer the value, maybe I create value by having a better store, or by having a better location. And then I can charge more for this and make a cheaper cookie but charge more for it and then have those things be part of my value that I'm adding. So I want you to think about these things. And as I said, if you're doing mostly a taste test it's probably pretty clear between appearance and taste might be your two best categories. But think about it again. Make a list of the possible types of categories that you want to consider, and then pick two of them to do this test against. So I've created a form that you can download as part of this exercise, this assignment. Here is a form will ask you what is the question for the survey? Describe how the samples will be collected, how you will run the survey and then draw a picture of what your survey form looks like. And then along the bottom I want you to fill in, I've got maker one, maker two. Put in the names of those companies. The name of the companies, the name of the product, the trade name of the product, price and any special notes that you might want to record about that. So again you can download this file and fill it out. You'll be able to post it and then what I'd like everybody to do with peer reviews this is to look at each other's forms and see how complete, how well if you planned this, so people can understand what you're trying to do. Here's an example here I've done this for the macaron cookie test. The question was, what is the best value macaron? And it took me a long time to think about what is the right question to ask? In fact, you probably will fill this out that you've come back and rephrase this question. There's many parts about ideas. As ideas there's naming the ideas, sort of refreshing those names making them more clear, clearly define what they're trying to indicate, what they're trying to get after. So there's a description here of a survey to compare appearance and taste. I picked my two parameters, I'm going to purchase them on the same day and then cut them into corners so that I don't want people eating full cookies because they'll get tired of eating six. Mine gives me six, you can do three or four. But I would suggest four. And here's a form it's maybe a little bit difficult to see. Put it on graph paper so it's but you see I put a little spot where I put the sample. And for each person and then they can taste them and by calling sample one, sample two, sample three, sample four. I just give them generic names and then say, "Okay, appearance for sample one, I give that a three. Sample three, I give this one." So I can fill in each of these four appearance and then for taste and I put their name on there and so it's a little form that they can use in front of them that they can easily score this and how I can collect this data. The name of the producer, the name of the product, they're all chocolate macarons, what the prices were, what the cost or price that I paid for. And say, special notes what I had to do one of the boulangeries only sell them in groups of four, so it maybe, maybe it's a little bit different to buy and behavior. So I priced them then per cookie, if I had to do it in groups of four. So with that, I'd like you to describe your taste test plan using the templates, and do reviews on other's plans how well have they done. Some of the questions to consider when reviewing other plans and also consider it when you're doing this, again, what is the objective? Is it clear that I can see the objective for what this test is? And how will they collect the data, preference data or the customer preference data, how will they collect this? And what results can I predict? Can I predict some results already from this? Yeah it's going to be clear that some are going to be more costly, some are going to be more valued. Can I start to see what kind of results are going to come from this type of test? It will help you understand if this is prepared properly, if it's very clear what it's going to be done with this type of testing. So enjoy preparing this plan, and I hope you get some very good feedback from your peers on this, and we'll move in to the next module which will deal with further analysis of this type of testing.
