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Costas B. Chantzis, CEO 


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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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