Decisive Trade-Offs And The Wallet Game
There are some big questions to unravel in the dynamics of consumer purchase decisions –
- What goes through the consumer’s mind when they stand in front of your product in a shop (or view it online)? How do they make the decision about which product to choose? And why your brand over a competitor?
- Which product feature or function or brand attribute seals the deal for the consumer?
- How attractive is your product and what appeal does your brand have in the eyes of the consumer?
There is a complex mix of choices that consumers face when choosing to buy a product; what kind of features do they want to have, and what kind of quality are they willing to accept? The fact of the matter is that they often cannot have everything they want, within the budget they may want to spend.
In reality, when making a purchase decision, there are trade-offs consumers must make. These are the things that they are willing to drop in order to get what they are looking for.
How can we help?
By understanding the trade-offs, we help clients find exactly what their consumers consider as their “MUST HAVE”, something that they are willing to sacrifice everything else to get.
ADK Insights’ WALLET GAME is a market insight tool which helps brands to identify and understand the trade-offs that consumers are willing to make to get their ideal product. The tool was designed based on the notion that consumers make the truest decisions when asked to prioritize and choose among several options.
It illustrates which features consumers consider as their “must-have” for which they are willing to sacrifice everything else, and which features they are willing to drop in favour of others.
The Wallet Game perfectly simulates real life purchase dynamics by driving respondents to build their own “ideal product”, choosing different features / specifications at a different price point while given a budget limitation.