Whether it’s providing evidence to inform product ideation, developing a proof of concept, conducting feasibility studies or providing access to patented technologies, there are a number of ways that universities collaborate with business to drive the development of products and services which meet evolving consumer needs.
Now, research by WU Vienna University, University of Bonn and FAU WiSo published in the Journal of Marketing has proven what many businesses have already experienced for themselves by collaborating with the University of Kent; co-developing products with universities gives them scientific legitimacy in the eyes of consumers. As a result, and as shown in several studies, consumers are willing to pay up to 65% more for products marketed as co-developed with a university.
To examine this further, researchers used A/B testing to compare consumer responses to product videos and found that those which mentioned university collaboration, as opposed that those that didn’t, had a higher click through rate and engagement levels. They also recruited 426 US participants and introduced them to Swedish company Hövding that had just developed a new helmet for cyclists. One cohort were told that the product had been developed in collaboration with a University, another told it was developed with industry, and the third given no inclination that it had been co-developed. Upon showing participants the product and surveying them on their views, the researchers found that participants in the first cohort perceived the product as more sophisticated and trustworthy, and that this positively impacted their willingness to purchase it.
As one survey response explains, “When a product has been developed together with a university, you have the feeling that the people who developed the product really know their stuff and exactly know what they are doing. This makes the product more attractive”.
Establishing scientific legitimacy is especially important for small and medium-sized enterprises (SMEs) looking to compete with larger companies which already have a trusted brand and the resources to test and evidence the efficacy of their products in-house. At the University of Kent, we have worked with a range of businesses to drive forward their product pipeline, including:
- KROHNE, who worked with the School of Engineering to develop a new flowmeter
- Martec Ltd, with whom we developed a prototype pinless connector for Body Worn Antennae
- SwimAR, a start-up which worked with the School of Sports and Exercise Sciences to develop a heads-up GPS display for swimmers
We are always looking for new opportunities to help businesses thrive and grow and can provide advice on sourcing funding and expertise to get your next innovation project underway. Explore the many ways you can work with us on our website.