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What influences the value of a cosmetic Product?

What influences the value of a cosmetic Product

What Influences the value of a Cosmetic Product?

A leading cosmetic company came to SAM with the goal of understanding the Perceived Value of one of their night serums. Perceived value is a multi-dimensional concept that goes beyond the liking of the product, and the client wanted to assess perceived value for both branding & packaging and the product itself.

SAM’s approach

SAM approached this study using its innovative Value Scoring tool.  We recruited 81 French people who are regular users of moisturising day creams and are open to using a night serum.

We proposed a dual methodology of Central Location Testing and Home-Use Testing which aimed to ascertain the value attributed by consumers to the product both at purchase and after usage.

The 30 min Central Location tests focused on branding & packaging assessment, with consumers given access to advertising and price information. The home tests were conducted over a 1-week period, with consumers using the serum product that was provided in the branded packaging.

Using Tetraclass to analyse the data, SAM was able to identify key criteria that were negatively impacting the perceived value of the product and needed to be re-worked. Some examples include the perceived age range of the brand, the pack design and colours, the brand perception around it being a ‘natural’ product and the claims after usage.

Conclusion!

Using Value Scoring and Tetraclass analysis, SAM was able to successfully identify several key criteria that the client R&D and Marketing teams were able to work on to enhance the perceived value of their product, both at purchase and after usage.

Contact us to find out more about Value Scoring and Tetraclass Modelling and what they could mean for your product.