Concept and product testing Essay Example | Topics and Well Written Essays - 4750 words

Concept and product testing - Essay Example This step is undertaken to introduce the product idea to the customers, see their reactions for the product idea and gather suggestions to add-on. Similarly, product testing also consists of conducting a research on the product. The manufacturer produces a few product samples. This helps the customers to see the final product and judge its features and its look. Both concept testing and Product testing is very important because the failure rate of new products are very high. So concept testing is done to test the idea among the customer and product testing is done to check the feedback of the customers for the final product before commercialization. The research undertaken for testing the concept of the product turned out to be positive. 100 participants were considered for the research. These 100 participants consisted on people from the age group of 13 to 35, in which two groups were made (Students and Working Professionals). The majority of respondents liked the product idea and i ts features. They also gave few suggestions. Now, after receiving a positive response for the product idea, sample products are manufactured and even the suggested ideas are added to the final product. Research is again conducted on the product to test the final product in the market. Again same 100 respondents were considered. Almost 76 % participant considered the product among their purchase list. The participants from student group found the price to be high. So they would prefer a lower price. Otherwise, the feature and the look were well accepted. People found the display of the Kindle amazing. The eBook reader received a very good response from the people. Table of Contents Executive Summary 2 Introduction 5 Research Method 9 Results 11 Product Testing 12 Objectives of research 15 Research Techniques 16 Results 18 Limitations of the Study 19 Conclusion 20 References 21 Bibliography 25 Appendices 27 Appendix 1 27 Appendix 2 29 Introduction A product is regarded as any offering in exchange for a price. It can be tangible as well as in-tangible in nature. After the completion of developing the product, the marketer can plan to launch the product into the market. New product development takes time and it is also quite risky and costly. The failure rate of new products is really high in the market. This happens due to several factors. But the most common factor is lack for proper market research. The marketers should do a proper market research for his product. If they are successful then, after developing the product, another product research is also necessary. This will not only give a true picture to the market, but also save him from incurring huge losses before developing the idea or concept (Lesch & Rupert, 1994, p. 5). It is a well known fact that if well-structured concept testing or product testing method by knowledgeable researcher can really help a company to improve its ability to create successful innovative products or services. However, the re sult of concept testing is not really achieved in reality due to low quality of research. The advancement in the technology and digital media has affected all of us. Similarly, the advent of eBook readers has created a buzz in the market. The increase in popularity of reading books in electronic form has encouraged the marketer to think about product named Kindle. It’s a new idea that will help in creating a device in which one can read numerous books and other reading materials in electronic form as pdf files (Parrickrau, 2011, p. 211). The product idea called Kindle is actually an electronic book reader. It would like a book publication in electronic form. In that device people can read books, see images, etc. Uncountable numbers of books can be stored in a single device. This device