Harness the Power
In research, data and information are king. Advanced analytics are key to maximizing your research investment. They often help to discern subtle shades of insights that can be the difference between good, really good, and absolutely great.
RTi doesn’t just employ some of the advanced analytics techniques, we are experts in their application and interpretation, including:
- Advanced linear and latent class regression using techniques like Shapley Value, Logistic, and Hierarchical Bayes
- Cluster Ensemble Segmentation
- Advanced Price Modeling
- Expert choice-based modeling methods and simulation
- Brand mapping
And we don’t keep advanced analytics in a little black box that’s only pulled out for special occasions. A number of RTi’s advanced applications – such as choice-based techniques, pricing, brand extension, and customer satisfaction – culminate with a powerful and highly user-friendly simulator. Easy enough so that “what-if” scenarios can be input and run during meetings, and powerful enough to automatically determine and display optimal solutions among any identified subgroup. It’s this kind of advanced thinking that can give you the marketplace advantage.
RTi in Action
The opportunity: The R&D team at a medical device company developed a fully-customizable product. The quandary: They needed to understand the options that would most appeal to consumers. Pricing was of particular concern since the cost of goods varied based on the amount of customization.
Through the use of an Adaptive Discrete Choice model, RTi was able to identify and categorize a variety of compelling designs for immediate “first generation” production and further out “second generation” line extensions. Pricing analytics identified tiers to maximize revenue.
Declining sales and low commodity costs led a fast food restaurant to consider expanding their “meal deal” menu to attract value conscious consumers.
The possible meal deal components were so varied and complex that a traditional Menu Based Discrete Choice model could not accommodate the scope of analysis. In order to meet the client’s needs, RTi’s marketing science guru created a custom Discrete-Choice exercise. Many key insights were uncovered and are being utilized in-restaurant, including item bundling, price structures, regional targeting opportunities, and more.
The fast food industry is a crowded and competitive environment with virtually all competitors vying to become “craveable.” Our client needed guidance to help inform future advertising campaigns and menu board promotions. Messaging input needs ranged from how to convey freshness, high quality ingredients, and “craveable” offerings in a believable and meaningful way.
Using MaxDiff analysis, RTi was able to identify and prioritize key language that would generate the most interest in ordering at their fast food restaurant. Additionally, RTi explored the impact of combinations of phrases via TURF analysis to create more comprehensive messaging recommendations.
The beverage landscape is changing rapidly as it adapts to macro health trends and emerging needs that are redefining existing categories and creating hybrid spaces at an unprecedented pace. A leading beverage company needed direction for growth and for understanding what it takes for a brand to ‘win’ in new markets and with emerging segments.
RTi provided a revealing strategic assessment of the marketplace and shifting consumer attitudes and behaviors that informed the company’s short- and long-term growth planning. Cluster Ensemble multivariate modeling revealed cohesive domains based on brands, behaviors, attitudes, and key drivers. RTi used this information to define the size, impact and opportunities with adjacent categories, and to provide a deep-dive of brands and portfolio assessments. A parallel qualitative study helped bring the data to life, allowing the team to socialize the insights in memorable, high-impact ways.