The secrets to truly accurate and actionable product testing are several: How can companies realize optimal value from product testing? Product-Testing Secrets These shortcomings in the majority of companies create opportunities for the minority of companies who are dedicated to continuous product improvement. Fewer yet budget enough money to support a serious product-testing program. 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.
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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