Product Testing and Concept Research
Product Testing and Concept Research is a fundamentally important function in business. Research indicates that a large percent of new product launches and product line extensions fail. Plus 94 Research has developed a tool that helps explore a product from concept stage.
This tool will increase the chances of market success and save clients unnecessary expenditure. Existing product formulations can be tested discretely against optimised alternatives.
- Concept Expression
- Novelty of concept
- Reaction to Concept
- Reaction to Product
- Reaction to Marketing Mix Elements
- Intention to purchase and overall rating
- Diagnostic questions
Application of Product:
This product is useful in minimising risk associated with new products entering the market, also enabling the marketer to optimise the product design for maximum customer benefit. It assists in the choice of the correct marketing mix. Because so many new product launches and line extensions fail, this is an important tool to use as it saves time and money.