Concept testing is a stage in marketing or product campaign development wherein concepts are examined to determine whether or not they have the adequate potential for more development and investment.
Not performing this testing is seen to be one of the causes of product failure. Concept testing is performed with surveys and qualitative research. There are several reasons to carry out this testing in the business.
For customized research or brand tracking studies, OvationMR out-performs any panel firm’s DIY sample on each measure. The company creates use cases for concept testing that probes into the consumer’s mind via online focus groups and online surveys that are adapted for the objective they will be used for.
Why do you need to perform concept testing?
By running a rapid concept test, a business can tell whether or not the product has the capability to justify its investment in further development. Another important objective of product testing is to identify and kill less impactful product ideas before they start to drain the resources of your business.
Concept testing will help you determine the importance of concept benefits and features and learn about the likes and dislikes of the new concept. It will help in guiding the future development of the business.
In addition to it, concept testing is also beneficial for marketers to help them understand what benefits to interacting with the target audience of the business at launch and beyond.
Reasons To Perform Concept Testing
Concept testing is a good way to identify problems as well as fix them before the launch of the product in place of after the product launch. The sooner you perform concept testing, the more flexibility you get to create and customize a product that customers require and want.
Concept testing translates into considerable savings of money, and time that enables businesses to make well-informed and intelligent decisions about the future. The advantage of concept testing is actionable.
The understanding and insight that are obtained are directly applicable and translatable to the redesign or design of the product and a marketing strategy that is developed around the positioning statements and tactical messaging.
This is essential to the successful launch of the product. The concept testing has a simplistic design, but complex in value. A properly conducted concept test offers a controlled environment where several scenarios and hypotheses regarding the product to be tested, evaluated, and examined. The model enables the determination of customer segments and provides an optimal configuration to ensure adoption.
How does concept testing benefit a business?
Concept testing helps identify the highest targeted customer segments. It helps you understand the customer base of the business to optimize product launch.
This testing will also help to get sales estimation or trial rate. The testing also enables a business to identify optimal messaging as well as information marketing strategies for launch.
The results obtained from consumer-informed suggestions for corrective actions help reduce risks as well as maximize revenue potential.
Innovation and the development of new services and products are the lifeblood of the business. Do not leave that important function to chance. Conducting concept tests at important points will help you significantly lower the chances of product failure and increase the possibility of new product success. The right implementation of the testing helps in the successful launching of the business’ product and service.