Get more out of your data!
The choice of the most relevant data analysis tool for a research project is ultimately driven by the objective of the research. In some situations, combining data analysis techniques can yield very powerful, specific and actionable results for both R&D and Marketing teams, particularly when assessing products and brands.
Tetraclass Modelling allows us to classify brand or specific product characteristics into one of four classifications – neutral, boost, basic or key. The analysis then signals whether the individual criterion is satisfactory or not and reveals the entire dynamics of how the brand, packaging and product criteria are moving within different consumer segments – and within the competitive environment.
Penalty Analysis however, allows a deeper dive into the weaknesses of product characteristics, and through the generation of a hierarchy identifies where improvements / adaptations are required.
Read here to learn more about how the outputs of TetraClass Modelling compare to those of Penalty Analysis and how combining them can lead to a deeper understanding for the Marketing and R&D developments and more specific and actionable results.