Beginning in March 2021, the Nikola Institute will make SimProduct™ available free of charge to qualifying small businesses and individuals. SimProduct™ is an artificial intelligence tool developed by HIT Laboratories to assess the performance metrics of new product concepts. It enables inventors to receive a…
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Planning to sell a new product online? Early price optimization gives you a significant advantage. That’s because it can help you reach profitability faster, and most small marketers that I’ve worked with don’t do it at all as a deliberate step. How should you price…
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How many brands or products are you loyal to? Would you believe it’s in the hundreds? While you may only name a handful of brands that you feel loyal to, your buying behavior is at least as important as your feelings. This article outlines how…
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Understanding consumer desire for product ingredients is important, but ingredient familiarity is also important to consider. Consumers may have low desire for an ingredient because they are not familiar with it, despite the ingredient providing excellent benefits. Hit Laboratories developed the “Familiarity-Desire” (F-D) ingredient analysis…
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Getting early market feedback is crucial for consumer product development. While this is widely known, the different available methods can be confusing for inventors and marketers. Few things compare with concept surveys for speed, validity (statistical power), and depth of results. The main purpose of…
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Inventors face many challenges, and perhaps the most serious is the issue of marketability. After all their invested time and effort, will they be able to raise funding for manufacturing? Will they be able to get retail distribution? Will anyone actually buy it? This issue…
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A study was conducted in May 2016 by HIT Laboratories, revealing consumers may be up to 266% more likely to purchase a beauty product if subjective claims are added to its description. A subjective claim is one that consumers can judge for themselves, such as…
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When is a product launch a “sure thing”? How about when you’re the market leader, employ an army of marketers and designers, enchant the media, and invest four billion dollars? Ford had every advantage, and the result was disaster. What went so wrong? It was the mid-1950s,…
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On November 15, Cook told the Irish Independent, “We feel strongly that customers are not really looking for a converged Mac and iPad….Because what that would wind up doing, or what we’re worried would happen, is that neither experience would be as good as the…
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Last week, a group of customers were denied 1.14 million dollars of pre-ordered product. There are no clear consequences for the company responsible. 3,203 people gave an average of $356, each expecting to receive a flying radio controlled miniature marvel called the “Robot Dragonfly”. This…
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