What Is Product Concept Testing?
Product concept testing is an early market research method that maximises the odds of you launching a product that people want to purchase. You explore the viability of a product with its target consumer early on and improve its development from the feedback and data acquired from the testing.
Concept testing is a vital stage of product development. It will help you to avoid costly errors and unpleasant surprises. The information acquired will give you a much better understanding of the market and assist you in achieving a much more successful product launch.
The Advantages Of Product Concept Testing
There are many reasons why you should conduct concept testing before launching a product. These include:
Real Feedback From Consumers/Users
Product designers and developers often get to close to a product to make a sensible decision about it. Just because an idea feels right doesn’t mean its commercially viable. Product concept testing provides you with real feedback and data from your target audience that you can’t replicate with your businesses internal team.
Helps You Identify Shortcomings
Almost all product concepts have their flaws. Testing your product with real consumers helps you to identify weaknesses that weren’t noticed during the design and development phases. It is always a good idea to get a fresh pair of eyes on your product.
Allows You To Improve 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.
Why Product Concept Testing Is Important
The advantages of product concept testing outlined above are important for numerous reasons. Here are some of the reasons why you should contemplate concept testing as part of your product development:
Helps Your Product Get Backing
Concept testing gives you accurate data about how your target market feels about your product. This information can then be used to demonstrate to others in the business why you are making certain decisions. Not having this evidence can make it hard to convince colleagues as it is just personal opinion.
Helps You Discover What Your Target Market Like About Your Product
Product concept testing will help you find out what your target consumers like about your products. This information can be really useful during your marketing campaigns. It can also help you to make better decisions when creating other products. This is as you can focus on things that consumers like and target specific problems faced by current or prospective customers in the marketplace.
Helps You Decide A Price Point
During product concept testing it is standard to ask participants how much they would expect to pay for a product. This will help you to make a decision on how much your product will retail for.
Product concept testing can help you to segment your customer base. If data shows that a specific demographic adore your product and others are less passionate it can be extremely helpful when it comes to your marketing campaigns and distribution efforts.
Helps You To Estimate Sales
Data gathered during concept testing can sometimes help you to estimate how many units you will sell and the ROI (return on investment) you can expect once the product is launched. This information is really helpful when it comes to deciding on budgets for marketing campaigns and attaining backing from others within the business.
Trusted Product Concept Tester
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 firstname.lastname@example.org 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.