With the progress made in recent years, artificial intelligence has evolved from technical gadgets to powerful tools that have the potential to fundamentally change entire industries. In product development and marketing in particular, these technologies open up unimagined possibilities.
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Three reasons why AI is becoming a game changer in market research.
1. enormous increase in efficiency thanks to AI support
I don't have the words! What is often used as an expression of astonishment has recently become doubly true in marketing: on the one hand, companies often reach the point where they have an idea for a new product but lack the right words to market it in an appealing and creative way. Secondly, there are no words when you see the results of AI. The technology can mean an enormous increase in efficiency.
2. rapid market adaptation through artificial intelligence
With the help of AI, a company can respond quickly to constantly changing market trends and customer preferences. Generating content in a matter of seconds that is tailored to the needs of customers opens the door to new, extremely fast product evaluations. This makes it possible to make flexible adjustments in real time in order to visualize new products in a targeted manner and test them on the market immediately.
3. AI-supported creativity boost
This leads us directly to the third point. Artificial intelligence alone will not automatically lead your product to success. However, an AI not only allows users to skip or at least greatly shorten numerous tedious steps, such as an initial lengthy search, but also offers great creative clues. Although the AI itself lacks creativity - after all, it only connects facts according to its programming - it can still promote the creativity of users by generating suggestions that can be further developed by users using their own creative powers. You can, so to speak, overcome your creative blocks with AI.
How the use of AI in market research works
But enough fine words, let's see an example. You have an idea: chocolate with pineapple is set to take the culinary world by storm. So the product idea is there, but how can you visualize it without too much effort in order to test different concepts? This is where artificial intelligence comes into play. State-of-the-art AIs such as Midjourney (image creation) and ChatGPT (text creation) can deliver spectacular results in just a few moments with the right input (prompts), which can give you a first concrete impression of the product. From then on, it's up to you which idea you pursue further.
Live concept test from innohack
innohack uses a similar method for live concept testing. To test your pineapple chocolate on the market, innohack uses a specially developed prompt guide to design different versions of your product, each with a different focus. And in the shortest possible time. Do you want to appeal emotionally? Or would you prefer functional? Focus on the delicious ingredients? No problem. Of course, innohack tests the different versions created by the AI directly on consumers on social media and creates a separate advertising campaign for each version. This way, you can easily find out which combination of image and text is best received by customers. So nothing stands in the way of a successful product launch!
Now there's not much left to say except: If you want to validate your product in a live concept test, don't hesitate to contact us.
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