Needs Analysis
The team interviewed five consumers of meal replacement products (bar or shakes) to gain insight into their needs, preferences and occasions of use. The three most important attributes were identified as:
1. Content: High Carb/Low Protein vs High Protein/Low Carb
2. Flavor: Natural Fruit vs Chocolate
3. Price: $1.00 vs $2.00

Ten participants were each asked to rank eight possible products (each with a different value for the above three attributes) based on their preference.

Conjoint Analysis
A technique called conjoint analysis (see 'Conjoint Analysis: A Manager's Guide', HBS Case No. 590-059) was used to identify willingness to pay for the most desired product. The product preferred by 6 of the 10 participants was 'Fruit flavored, High Protein for $1.00'). This product was then prototyped and tested on the same ten particpants. { more }