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403 Christie Ct.,
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Costas B. Chantzis,
CEO
Tel.:
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Fax: 908.387.0447 Email
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How to Do Market Evaluation, Testing, Field Trial
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Market testing is
the stage where the product and marketing program are introduced into more
authentic customer settings to learn how user, customer and buyer, all
react to handling, using and repurchasing the product. It also provides
concrete information for estimating the size of the market.
The
amount of market evaluation is influenced by the investment cost and risk
on the one hand, and the time pressure and development cost on the
other.
We have been involved
in numerous market evaluations since 1980. Here are a few of the things we
have learned:
- Establish a strategy for
your market test. It should include the objectives and deliverables of
the evaluation; methods for generation, collection, interpretation and
analysis of the compiled data; assumptions made; how many different
catalog numbers of the new product are you going to be tested;
criteria for selecting the field trial sites; etc.
- Develop a project plan
with the required resources for the successful completion of the
market test.
- Assign the responsibility
for supervision of the market test to experienced individuals. Exit
interviews should be conducted with every field trial participant.
These interviews are needed for a quantitative, qualitative
correlation of what the user wrote in the questionnaire form with what
he/she said during the exit interview. We have found that such
inexpensive things as fresh donuts and New York bagels would make you
instantly popular!
- Collect as much physical
evidence as it is possible. You could video tape the exit interview
(prior approval is typically required) or take photographs of used
product samples. Ask the user if it would be okay for one to two
follow-up telephone calls within the next few weeks.
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