Group Number 7
Group Number 7
Introduction
Objectives
Advantages
Ways and procedure
MARKET TESTING
• The main goal of market testing is to validate the product concept and
ensure that it meets customer needs and expectations
PURPOSE OF MARKET TESTING
Risk Mitigation
Companies avoid mistakes associated with launching an unsuccessful
product
Resource Allocation
Market testing helps businesses allocate resources more efficiently .
Competitive Advantage
Enables companies to position their products more effectively against
competitors.
Enhanced Marketing Strategies
Ensuring that messaging resonates with target audiences
WAYS AND PROCEDURES TO CONDUCT MARKET
TESTING
Focus Groups
Researchers organize discussions to extract qualitative insights about
preferences and concerns.
Surveys
Surveys can assess interest levels, feature preferences, pricing sensitivity.
Pilot Launches
Introducing the product in a geographic area.
Cont………..
A/B Testing (alpha and beta testing)
Alpha testing is performed within the organization and Beta testing
is conducted in the user’s environment.
Prototype Testing
Creating prototypes allows users to interact with a tangible version
of the product before its final release.
Online Marketplaces
Listing products on platforms like Amazon or eBay can gauge
consumer interest through pre-orders or limited-time offers.
Cont……….
REFERENCE
• Cohen, M. A., & Eliashberg, J. (2018). New Product Development: The
Power of Marketing Research. New York: Springer.I
• Kotler, P., & Keller, K. L. (2020). Marketing Management (15th ed.). Upper
Saddle River, NJ: Pearson Education.
• Ulwick, A. W. (2016). Jobs to Be Done: Aligning Your Products with