Product testing is a form of market research that involves showing your target audience a range of different concept options, and asking them to provide feedback on each. It allows businesses to collect quantitative and qualitative information on purchase intent, product quality, value, and more. This helps determine which products or concepts are most appreciated by customers.
Most products that enter the market fail because companies do not take the effort to find out whether the product they are launching will actually be wanted by their target audience. With input from your target audience, you can help ensure that a concept or product will meet your goals and will have a demand in the market before a decision of its launch is made.
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By grouping respondents using different parameters (whether that be age, gender, location, etc), you can get an idea of which customer segments resonate the most with your product concept. By understanding how different customer segments react to your product concept, you can match your product with its ideal audience.
By frequently conducting market research through product testing, you can make better informed business decisions when faced with any changes within the market. Additionally, you can do so without relying on a third-party organization for insights.
With product testing, you not only get an idea of which products your target audience liked best, but you also obtain insights on which variations of these products received the most positive feedback. Information obtained through product testing allows you to make informed decisions about which features should be included within the final product so as to receive the best response from your target market.
When you have qualitative and quantitative evidence to back up the potential success of your product concept, it’s easier to convince others to back your concept as well. Product testing helps you choose concepts that are most likely to achieve market success , helping you persuade other stakeholders to get behind these choices as well.
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The following four steps can be used to conduct product testing effectively:
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The first step is to choose a research method that will be best suited to test your product or concept. The following is a brief overview of the most widely used research designs for product testing:
Monadic Testing: Monadic testing involves showing participants a singular product or concept in isolation. It gives you a measure of how appealing a certain product/concept is without skewing the respondent’s perception with other influences. It is often used in product concept testing or package testing research.
Sequential Monadic Design: Similar to monadic testing, this method also involves products or concepts being shown to respondents in isolation. However, sequential monadic testing shows respondents a number of iterations of the questions so that they can provide feedback on all product ideas in one survey.
Paired-Comparison Design: This method involves asking consumers to use two products and choose which one they like better. This method can help measure very small differences between two products, and is often also less expensive than other methods as it can be conducted with smaller sample sizes.
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Before you can test your product, you must choose which parameters you want to measure it with. There are many different metrics you can use to measure how good your product is, and these are a few:
The metrics you choose to measure should depend on the goals you have for the product. If you want your product to stand out within the market among competing products, uniqueness may be the metric you want to focus on measuring.
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The third step is to send your survey to your target audience for them to evaluate your product concept.
The final step is to use respondent feedback to make a decision on which product concept to go with. Once you’ve collected survey responses, you have to now analyse target audience feedback in order to compare different concepts, features, or products, to help you choose the best one.
These are a few benefits of choosing Voxco to create your product testing survey:
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