February 6, 2009

Cracking The Convenience Code

How The Convenience Quotient Guides Product Strategy

This is the third document in the "Convenience Quotient" series.

by James L. McQuivey, Ph.D.

with Mark Mulligan, Dan Wilkos

Executive Summary (This is a document excerpt)

Why do the products with the most desirable features fail as often as they succeed? Diligent consumer product strategists work tirelessly to figure out how their products will fare in the marketplace. Even when their products succeed, they are often unable to pinpoint what made the critical difference and how they can replicate that success. From more than a decade of surveying millions of consumers about hundreds of products and services, Forrester has concluded that the secret to creating and marketing a successful consumer product experience lies in a single, comprehensive concept: convenience. This report introduces a robust methodology for quantifying a product or service's convenience called the Convenience Quotient. Consumer product strategists who harness the power of the Convenience Quotient will know how to increase their product's benefits while reducing barriers to success.

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