Concept Testing Through Phone Interviews to Understand Market Opportunities

In the Summer of 2016, Ethnoscapes Global worked on a concept testing project with a company that sells information services and workflow solutions to large-scale financial institutions. This company developed three ideas for new products to help Anti-Money Laundering investigators more efficiently and effectively protect their customers and organizations from potential criminal fraud. The three concepts could function as stand-alone products, or could be bundled together into a potentially more comprehensive offering.

To help understand potential market opportunities for these concepts and a bundled offering, Ethnoscapes organized fourteen In Depth Interviews (IDIs) that lasted 60 minutes or less. During the conversations, our moderator used screen sharing software to walk the participants through each concept. The moderator asked how useful the concepts would be, and whether participants could imagine any modifications that would make the concepts even more attractive. Toward the end of the conversation, the moderator solicited participants’ potential bundling preferences.

At research completion, our clients received insights into target market receptivity, ideas for making the concepts even more attractive, views about how to bundle the concepts, and value proposition language that could be used to create effective marketing materials.