Mkt 421 Research And Innovation

Research and Innovation
With any good innovative suggestions, come other aspects to consider in order to ensure the success of the product being produced. One very important aspect would be performing product use testing (PUT) or otherwise known as market testing, which is a type of analysis that is performed in order to understand user experience, what consumer would buy, who is the targeted consumer, and what is the best method of reaching the consumer (Crawford, & Di Benedetto, 2014). These are all important aspects, as this information is needed in order to gauge the acceptance in the real market. Within the testing there are phases what are performed which would include planning the testing as well as performing the testing in addition

Depending on the service or good being offered, companies would consider which testing type’s best fits the product needs in order to ensure a successful launch. Concepts testing would consist of identifying if the consumer would purchase the product or service if it was manufactured. This type of testing is performed as products are often too expensive to make and just give away as free samples, hence why companies are seeking to understand the views of their consumers before actually producing the product (Crawford, & Di Benedetto, 2014). An example might with a new phone, often times the view are sought out to identify what features consumer would most like to see on the phone which would help in gaining the competitive edge.
Another type would market product testing, which in this method there is a limited amount of the product is produced and presented to consumers to try and provide feedback. A good example might be a new flavor for chips, a new brand of cookies or even juices. In this testing, the consumer is actually consuming the product and giving feedback at that time as well as asked if they would purchase the product if it was available for sale. Occasionally within this test method, the consumer would be asked for suggestions on improving the

Market testing aids companies with gauging market realities, understanding the complexity and needs of their consumers; identify similar products or services with competitors, assessing competitors reactions and it aids in enhancing the product to meets the needs of various demographics such as gender, age, financial status, and etc. Furthermore, the market test helps the companies evaluate all aspects of the business plan, before launching the product and putting everything on the line in hopes that the product will be a hit. Hence, market testing is like a test drive of a new vehicle, you get to gauge the consumer’s reaction, likes and dislike of the vehicle before actually purchasing the vehicle. This specific feedback is all gathered during the market testing, thus taking into account this feedback during manufacturing (Larson, & Gray, 2014). Furthermore, market testing will assist with future planning and making the appropriate modifications to fit in the competitive