Matrix™ – opportunity identification
Matrix is a segmentation-based approach to understand the structure of a market in order to identify, size and prioritise opportunities for growth.
The key to uncovering breakthrough opportunities
Matrix investigates four key product usage / occasion factors: who, when, what, and where, and combines them in an integrated, easy-to-use model.
The in-depth information produced about these opportunities and their underlying needs can be used to design products that are more likely to be successful in subsequent testing.
We can tell you how the market works from the consumer perspective, what drives choice, and where you can win.
Our expertise in opportunity identification
Matrix is based on a simple, yet powerful, product choice model:
- Consumers are confronted daily with unique 'state of mind' situations ('what do I feel like'), each driving a different product and service requirements.
- Consumers mentally review their expectations towards existing product alternatives against these situation-centric needs, to formulate a consideration set.
- Product choice is made by a 'best available' fit exercise; however, the product option chosen does not always perfectly align with the ideal solution on that occasion.
- 'Opportunity' surfaces when existing market alternatives fall short of ideal occasion / brand requirements. Gaps between ideal needs and the best available products have the power to shift purchase behavior.
Matrix takes the guesswork out of intuition-based approaches, and makes innovation success more predictable.
A global insight brand
We have successfully delivered Matrix throughout the world to over 50 clients across a wide range of sectors, including Automotive, Consumer, Finance, Healthcare, Technology and Hospitality.
Our innovation & product development experts ensure consistent, high quality service for both local and multi-country studies.
