What We Solve
Product & Service Innovation
“If I had asked people what they wanted, they would have said faster horses`` -- Henry Ford
True innovation is creating something that does not exist
A critical step in innovation research is helping consumers understand an idea so that they can fairly evaluate it.
Afterall, true innovation means developing a product or service with which consumers have little to no familiarity. Yet, if consumers do not fully understand what the offering is and how it can benefit them, how can they determine if they are interested?
Socratic in-houses all resources to develop and present innovation ideas in the best way possible. Some of our common approaches include storyboards, videos, and immersive environments. When appropriate, we also use visual design and screen layout to help, particularly for choice-based exercises like Socratic Configurator Analysis ℠ and conjoint.
Socratic has decades of experience in applying its toolset to identify the best ideas and recommend ways to enhance the ideas prior to launch.
We work in all innovation phases from idea creation to screening, development, testing, and post-launch optimization. And, we offer normative benchmark solutions and online dashboards to support on-going innovation programs.
Product Innovation Decisions
Kill the ideas with limited consumer interest early and often.
Identify the combination of features and benefits that work hardest to create interest, and eliminate those that offer little incremental value.
Reveal the pricing strategy that best balances potential revenue and what consumers are willing to pay.
Build a range of product and service offerings that maximizes the line’s incremental potential while minimizing cannibalization.
Maximize the chances of using the right message for the right target and learn how to enhance communication language.
Build your idea and concepts into reality with lower risk of failure by eliminating the unknowns. Create feedback loops and learn what is connecting with audiences and what you need to adjust to have a successful launch.
Solicit evaluative and constructive feedback on new or enhanced offerings before they are launched to larger audiences.
Our Technology Roots
The Tools and Approaches For Strategy Consulting
- Socratic Concept Highlighter ℠
- Socratic Configurator Analysis ℠
- Socratic NCURA ℠
- Socratic Rapid Concept Testing
- Normative Benchmarking
- Qualitative Discussions & Web Boards
- Conjoint, Adaptive Conjoint, Discrete Choice
- Custom Concept Development
- Custom Online KPI Dashboards
- Mobile-Based Feedback Loops