Product concept testing is an early market research technique that increases the likelihood that you will introduce a product that consumers will be eager to buy. Early on, you test a product’s feasibility with its target audience, and you make adjustments to it based on their comments and the data acquired from concept testing.
Product concept testing is a critical phase of product development. It will help you to avoid expensive mistakes and unpleasant surprises. The data and information you receive will give you a lot better understanding of the market and will assist you in launching your product with much more success.
Product concept testing should be a priority for all businesses looking to bring a new product to market. This is as there are several statistics that paint a sombre picture of the reality of product launches:
Under this pressure, you want to make sure your product connects with your customer before it goes to market. By doing the right product research, you’re checking that your assumptions about your customer are correct.
These damning statistics reiterate why it is so important to make sure your product resonates with your target consumer before it enters the market. By conducting thorough consumer research and product concept testing you can have more confidence that your presumptions about your target audience are correct.
Conventional market research typically involves participants selecting from predefined criteria established by a company in order to offer their feedback. This process is unidirectional and concludes once the company obtains the desired responses.
In contrast, concept testing takes a distinct approach. It centers on actively listening to the audience’s perspectives and assessing the feasibility of a concept from their standpoint, free from any inherent biases. This method yields unfiltered feedback regarding their desires, potentially illuminating aspects the company might have overlooked. It represents an ongoing and reciprocal learning process, allowing continued engagement with the same target audience to gather their insights on evolving product developments as they unfold.
There are a number of benefits of conducting product concept testing before launching a new product. These include:
Product designers and developers often become too close to a product to make objective decisions about it. Just because an idea feels right to them doesn’t necessarily guarantee its commercial viability. Product concept testing offers valuable real-world feedback and data from your specific target audience, which cannot be replicated by relying solely on your internal team within the company.
Nearly every product concept harbors imperfections. Subjecting your product to real consumers’ scrutiny assists in uncovering weaknesses that might have eluded detection during the design and development stages. It’s consistently advisable to seek fresh perspectives on your product.
Prior to testing, your product is just a sample that has all the major components in place yet needs some minor tweaks. Product concept testing can help shed light on what your target audience think about your product. This will give you some ideas on how to revise and improve your product so that it’s more likely to be a hit with consumers when it is launched.
If your plan for a new product hinges on substantial input from senior leaders or colleagues, providing them with an initial glimpse of evidence can speed up the process and show the potential of the work they’ll be contributing to. When a team is confident, it tends to garner increased support and a greater willingness to go the extra mile.
Product concept testing can enhance your product development and marketing strategies, reduce the time required to market and launch your product, and keep your customers happy.
If you’re weighing up whether to pursue concept testing for your new product lines, why not email our team today at email@example.com to learn more about how we can help your brand gain valuable insights into what your target consumers think about your products and how they can be improved before launch.