Marketing Mix Optimization / Final Mix Test
The acceptance of newly developed products and services depends decisively on the cooperation of the individual marketing mix elements. "The whole thing is more than the sum of its parts". Therefore it is not sufficient to test the product, packaging and advertising elements in isolation but rather an examination of the entire marketing mix is required.
For this Psyma provides a "final mix test", which is already in use in many product areas. It allows for the analysis of interactions of different marketing mix elements and therefore answers the following questions:
- Do the advertising and packaging communicate the central benefits of the product?
- Does the product fulfil the expectations which arise from the advertising?
- Is the desired price level realistic?
- Do the advertising, packaging and product experience convey a comparable image profile or do discrepancies emerge here?
Recommendations for the optimisation of the entire concept are deduced from the established strengths and weaknesses of the individual elements. The "final mix test" comes from successive confrontation of consumers using the individual marketing mix elements (advertising - packaging - product - price).
The sequence of events is mainly standardized, though is adapted according to the needs of the respective product area or the brand. Which element of the marketing mix influences the final overall assessment most strongly is examined with the help of multi-variation analysis procedures.
The results of the "final mix tests" - for a relatively accessible sample survey of 100-200 interviewees - are already available approximately 3-4 weeks after the commencement of the field work.
