Even fewer companies know how to do product testing the right way. Few companies really understand the power of continuous product improvement and product testing. Most companies, unfortunately, do very little product testing. Product superiority, in turn, helps strengthen brand share, magnifies the positive effects of all marketing activities (advertising, promotion, selling, etc.), and often allows the superior product to command a premium price relative to competitors. Predict consumer acceptance of new products.Ĭompanies committed to rigorous product testing and continuous product improvement can, in most instances, achieve product superiority over their competitors.Monitor product quality from different factories, through different channels of distribution, and from year to year.Provide guidance to research and development in creating new products or upgrading existing products.Implicitly measure the effects of price, brand name, or packaging upon perceived product performance/quality.Measure the effects of aging upon product quality (shelf-life studies).Reduce costs of product formulations and/or processing methods, while maintaining product superiority.Monitor the potential threat levels posed by competitive products, to understand competitive strengths and weaknesses.Continuously improve product performance and customer satisfaction (i.e., to maintain product superiority, especially as consumer tastes evolve over time).Achieve product superiority over competitive products.The great value of product testing is perhaps best illustrated by some of its many uses. Videos - Leadership Strategy Interviewsīased upon 40 years of marketing research experience spanning thousands of research projects, I am convinced that product testing is the single most valuable marketing research that most companies ever do. Predictive Analytics & Marketing Research.
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