Concept testing is an integral part of market research that involves investigating how potential consumers will react to certain products or services before the product or service is released to the market. This is such a valuable step because it allows R&D to gauge perceptions and discover wants and need that are associated with the product or service being offered.
How Your Product Appeals to the Appeal
At EMI Research Solutions, we will pinpoint the specific segments of the population your product or service will appeal to. We are able to do this by fielding product concept tests to a custom audience developed from our global panel network to gather information that assists with several areas of your product’s journey, including
- Concept testing during the development stage of your product journey can be key to a successful product launch. Concept testing can help you refine the features of your product and allow you to focus on what really matters to your consumers.
- Concept testing isn’t just for the development stage. You can use concept testing to gauge consumers’ reactions to your promotional campaign. You can have the best product in the world, but if you have a promotional campaign that turns off potential buyers, your product will fall flat.
- An underutilized area of where concept testing can assist is around the distribution and logistics of a product. Concept testing this area can help you understand where consumers would be interested in receive or purchasing your product, how long they may be willing to wait, and they type of distribution methods you use.
Pricing of the product
- Concept testing can also help you determine the best price point for your product or service. Testing can help you know if the ideal price you have in mind is too high or too low. Concept testing can also be a great way to verify your ideal price point. You’ll understand if and how many consumers will buy at the specific price points. This can allow you to craft your marketing messaging as a mass product or a luxury product depending on the price point.
With our access to a global network of consumers, EMI can assist you concept test multiple products, multiple version of a single product, or even test how consumers international feel about your product.
Product Positioning and Messaging
Not only will product testing help you to refine your product or service so that it will be as effective and desirable as possible, but product testing will also help you with product positioning and messaging. We can provide you the data necessary to determine the effectiveness of product positioning by seeing how well your product or service sticks in the minds of potential consumers over other similar products and services available on the market. It is important to make sure that your messaging is optimized so you can maximize revenue and minimize risk as soon as your product is introduced to the market.
Why Concept Testing is Important:
Product concept testing and market research are vital because they both give companies a general feel of how their product will perform in the current market before it is launched. They can also save a firm money by determining if a product is worth investing in further.
Additional purposes of concept testing are:
- Eliminate products that have low potential
- Optimize marketing messages to the appropriate sales channels
- Locate the best customer segments
- Understand consumer segment size
At EMI we ensure consistency in your research so that you can feel confident when comparing test to test. We will put together a long-term plan with you and your team to ensure long-term sustainability.