In this series, we explore the 5 critical questions to ask about your AgeTech innovation before going to market to ensure you are creating consumer relevance and maximizing your in-market potential.
Before launching or investing in an AgeTech innovation, ask yourself these questions first to make sure you're betting on the right play and/or to make sure your innovation is the best it can be to succeed in market.
Question #2: How does my AgeTech Innovation deliver on key drivers of category choice?
Within the space you are playing in the AgeTech sector, it’s critical to ensure that your new launch delivers on the key considerations that drive consumer purchase decisions today.
What are the critical functional drivers that impact which brands and products consumers choose in your category today? (Examples of functional drivers could include factors related to efficacy attributes, performance, durability, ease of use, affordability and convenience).
What about critical emotional drivers that impact choices today? (For instance, factors related to how it makes the user feel, or what it allows the user to do or accomplish).
In any category, there are multiple functional and emotional drivers of choice, but some are ‘must haves’ in order to create long-term consumer relevance.
For instance, consider the wearables category - offering many different colors and styles of watch faces or bands may be unique, and style options may set a particular wearable product apart from competition...but...
"if it has a clunky interface and low battery life, it won’t matter how stylish the options are, because it’s fundamentally not delivering against the more critical functional drivers in the category"
While there will be both functional and emotional drivers of product and brand choice in any category, some categories are more emotionally-driven and some are more functionally-driven. Which is your category? What are the implications for your innovation and go-to-market strategy? For instance…
In a highly emotionally-driven category, consumers are more likely to invest in “tech” solutions which are additive – that is, the tech elevates the current experience and emotional benefits. (Example: cars)
In highly functionally-driven categories, consumers are more likely to seek subtractive “tech” solutions – that is, the tech drastically simplifies the experience and enhances convenience (Example: cleaning products)
Develop your Positioning by identifying the key drivers of your Category - and which ones you should focus on
Primary Consumer Research can help you maximize your AgeTech innovation growth potential by giving you the Strategic Insights and Innovation & Marketing Guidance you need to succeed in market.
Through bespoke consumer research engagements, we can help you more deeply understand the needs, wants, behaviors and opinions of adults aged 50+ and their caregivers - and convert those insights into strategic recommendations on how to optimize your innovation and marketing.
Some research solutions we can leverage to unlock the category drivers you should focus on and develop your positioning to succeed:
Category Landscape: Identify white space, unmet needs and assess competitive strengths & weaknesses
Brand Positioning: Optimize or stretch your brand positioning based on how consumers see brands in the category and identifying positioning gaps and opportunities
Tracking: Monitor and improve your brand or product performance in market
Idea/Concept Screening: Assess, refine & optimize your new concept or message
Optimization: Identify opportunities for your product or service to better meet users' needs
How does your AgeTech Innovation deliver on key drivers of category choice?
Let's chat about how we can help you answer this question. Click here to start the conversation.
About: Morning Light Strategy is an insights-based strategic consultancy that helps AgeTech, Senior Living, and other senior-focused organizations better develop and market products and services by more deeply understanding the needs, wants and opinions of 50+ adults and their caregivers. To learn more, visit: www.morninglightstrategy.com
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