Consumer panel to validate business idea
In less than two days, with a complete market study, a consumer panel validates CarMentor business idea
CarMentor, a Valencian startup in the automotive sector, contacted us to find a way of validating one of their business ideas through Kuvut’s consumer panel.
They wanted to know how much an online platform CarMentor wanted to launch would be accepted. We needed to carry out a market study that would be able to analyze the product’s acceptance and validate which functions were the most relevant for the final consumer. This app had been designed to facilitate vehicle search.
HOW WE MANAGED THANKS TO OUR CONSUMER PANEL
To achieve the goals that were set by the brand, we opened a survey aimed to all the drivers residing in Spain: +25 million.
We segmented Kuvut’s data base between the general population that had once acquired a vehicle and the ones that had the intention of doing it in the near future. They also had to be between 18 and 60 years old. Same ratio of men vs women.
The online panel answered a questionnaire that took no more than 15 minutes of their time. On it, we asked about different factors that had to do with their perception of the motoring market and of current and future mobility needs.
Through mockups we were able to surpass the challenge of carrying out CarMentor’s app testing. It’s that… we needed for the users to test most of its functions and validate each one of them or, said in another way, obtain feedback that allowed them to make adjustments for the final version. On this test, attractiveness, usability, and use and purchase intent were evaluated in some payment functionalities.
In less than 24 hours, CarMentor had the results of all the surveys and product testing.So, in conclusion, in less than two days, we were able to evaluate a business model that, as a result, obtained 86% rate of acceptance by the users who validated which functions should be part of the product’s first demo. The job we made allowed us to go from 0 to 440.000€ in external market assessment.
We have a consumer panel that can be segmented and profiled according to each project’s needs. So, if you need to carry out a market study, we invite you to write us so we can offer more details about this Kuvut service.