Successful new products and services meet real consumer needs. Because different products appeal to different kinds of people, and because truly innovative products (those that offer dramatic change in the way people live) attract small groups of early adopters before going mass market, it is important to have a clear picture of who the end-user consumers will be as early as possible. Having a clearly defined consumer target enables more accurate matching of product features and benefits to the target and improves the ability to estimate market demand.
SBI uses VALS™ as a lens for understanding consumer psychology. VALS strengthens consumer-segment profiles beyond demographics by identifying the psychological drivers of purchase behavior and lifestyle choice. And VALS provides more than just a snapshot of customers in the current marketplace. VALS is a predictive tool that stimulates thinking about innovation needs for the future.
SBI uses VALS with its clients to:
- Hypothesize about consumers' future wants and needs.
- Identify distinct types of early adopters.
- Match features and benefits to potential user groups.
- Select the right consumer target.
- Develop targeted product positioning and messaging.
- Map new product-diffusion pathways and estimate market potential.