Welcome to the InsightFarm Innovation HotHouse

Innovations come and go – capturing our attention and personalizing the future that is unfolding before our very eyes. Some innovations make a huge splash and disappear in the blink of an eye. Others unfold in a slow burn and melt into the fabric of our lives. How are we to know as marketers what innovations are really storming the market and which are just hype? And, of those innovative products, which ones will be most likely to stick, grow, and develop into mainstays of the economy? Finally, how can Innovators better measure ideas before they finalize them, to make sure they exhibit the same strengths as successful introductions before they are introduced? The InsightFarm Innovation HotHouse is designed to answer these questions and fuel Innovators with knowledge to help them grow big ideas.

What does the InsightFarm Innovation HotHouse do?

First –
the InsightFarm Innovation HotHouse is a Marketplace Monitor. We use continuous collection of consumer noticeability of new products as they enter the market. These Consumer Noticeable Innovations become the platform for further analysis.

Second – the InsightFarm Innovation HotHouse measures consumer awareness of innovations that are noticeable, the marketplace conversion potential of these products, and a modeled success index based on 18 diagnostic questions designed to assess a product’s perceived ability to meet consumer needs from three standpoints: 1) using the product itself; 2) using the product to produce or create something else or an experience; 3) sharing the product or information about the product to have experiences with others. These three dimensions measure the product’s ability to stretch beyond functional dynamics and become part of the fabric of life.

Third – the InsightFarm Innovation HotHouse measures for Modeled Interest (part of Marketplace Conversion Potential) and the Success Index can be collected for products that are not on the market yet – those in the concept stage. These measures help Innovators make adjustments to new product concepts prior to introduction and better understand the likelihood of success.

Finally – the InsightFarm Innovation HotHouse is a personal experience. Kelley Styring, Consumer Strategist, Author, and creator of the InsightFarm Innovation HotHouse, personally uses and shares her experiences with the top scoring products in her blog: The InsightFarm Innovation HotHouse Blog. The blog helps “bring to life” the Innovations measured and offers one real person’s experience as a template for understanding the broader consumer measurements and an expert opinion to help interpret the consumer measures provided.

Please contact Kelley Styring at: kelley.styring@insightfarm.com for more information on the InsightFarm Innovation HotHouse. The InsightFarm Innovation HotHouse is powered by C&R Research, Chicago, Il.

InsightFarm Innovation HotHouse: the Measures

Consumer Noticeable Products: Items achieving a noticeable level of mentions in an open ended question about “new products” on the market enter the InsightFarm Innovation HotHouse measurement system. All items reviewed are Consumer Noticeable Products.
Initial Awareness: Consumer Noticeable Products are presented to consumers and aided awareness measured for the first period after they are noticed. This is Initial Awareness. The product will continue to be presented in subsequent periods until a minimum awareness base of 75 is reached. Then diagnostic data across waves is combined for analysis. Initial Awareness is not impacted by subsequent waves.

Conversion Score: A composite measure modeled from purchase interest, perceived popularity, and intention to recommend.

Domino Analysis: A weighted composite of 18 diagnostic measures compiled into three outputs including “consume”, “produce”, and “share” dimensions. An index to the average of other composite scores is reported. An index above 120 is considered strong.

Success Index: Total weighted composite score from the Domino Analysis. This total score incorporates the 18 diagnostic measures’ impact on interest, perceived popularity and intention to recommend. An index to the average of other composite scores is reported. An index above 120 is considered strong.

Friday, February 13, 2009

Victoria's Secret BioFit or Xbox 360 -- which better fulfill's life's potential?











“Hello Ladies.” I say as I nestle into the Victoria’s Secret BioFit Uplift Bra, my bust shaping up like Jiffy Pop about to blow. “Well, that’s a whole new thing, eh?” I whistle at myself and plunk down the plastic, trussing up some self esteem in the process.

The BioFit is strategically engineered to enhance lesser endowed women more and more endowed women less.

“So,” I ask Steve “If the A has more padding than the B, and the B more than the C – are they trying to make all boobs in the world unite and stand as one big collection of Hershey Kisses gracing boobdom without variety in size and shape? Sounds pretty boring.”

He smiles a little and glances at me from the corner of his eye. You see, he’s driving the car and I’m test driving the bra in the car, which would be less distracting if I wasn’t hiking my shirt up to show him and he wasn’t looking at the other drivers daring them to stare too hard so he can loosen their teeth.

“I don’t see how that’s possible.” He counters “You might make an A into a B, but you can’t make an A into a C, so the Associative Property breaks down . . . or is it the Communicative Property . . .” He stammers a little as I reach in to rearrange the rack into a more prominent position.

“Okay, I buy that, but do you like it?” I ask leaning forward a little, knowing this is a no win question for him. If he likes it then I wasn’t good enough without it. If he doesn’t like it then it’s a general indictment of boobs, which is not going to toast my bread either.

“Well, it’s okay, but isn’t it a little bait & switch?”

“In what way?” I say, admiring the deft side-step answer.

“Well, you know, the street appeal is huge – or at least bigger – but then, you go under the hood and . . . I don’t know. Seems disappointing.”

Hmmm…maybe he’s right about that, at least for couples who are just getting to that under-the-hood phase of the getting-to-know-each-other thing. But, hey, after 25 years of trips under the hood, what’s to disappoint?

“Okay, but do you like it?” I ask again, meaning of course, does he like it on me? “Or, said another way, does it contribute to your life enjoyment in the same way that, say, an Xbox 360 would?”

Furrowed Brow. “What kind of question is that?

“Admittedly a poorly worded, unfair, backing-you-into-a-corner question relevant to nothing other than the fact that men in my survey believe that this bra will improve life enjoyment more than an Xbox 360.”

“Well,” He says, throwing a side long smile that slices me in two. “Maybe they haven’t been under the hood.”

“Watch it.”

The Data:

The Victoria’s Secret BioFit Bra has moderate initial awareness at 40%, with women almost twice as likely to be aware than men. Conversion rates are relatively low as well. This is a real shame given men’s interest in a product designed overtly for women – or is it? While the success index is moderate also, the intensity of scores for perception of purely physical benefits that could be experienced by using the product far surpasses the XBOX 360 among men and women alike. We see the same thing for perceived health benefits. This product also provides heightened emotional benefits with high scores for men and women (nearly twice as high as Xbox 360) for product use that improves life potential. And, that’s a pretty rousing endorsement for any new product. Awareness is probably the biggest obstacle to success here.

Xbox 360 has very high initial awareness, exceeding 90% and high initial conversion rates as well. But all other measures are moderate, indicating limited potential to connect longer term with the broad swath of consumers in the marketplace.

1 comment:

Unknown said...

Oh, i love victoria´s secret fashion, i think it have the most beautiful collection in clothes, perfume or make up, it drive me crazy!!! I like the fragance and my boyfriend love it, specially because he need to be stimulated this days. Actually i buy viagra for him, he have had some problems, but i am sure we’ll solve it.