New product / brand launch
From time to time any business develops and launches new products. This process is always risk bearing, particularly if the company operates in a highly competitive environment. According to statistics, only one of the six new products on the market is successful, and the other five, for some reason, do not meet customer expectations. Therefore, before starting mass production and conducting an active advertising campaign, it is necessary to test a new product.
This allows you to get valuable information from consumers, regarding their perception of trends. At the same time, it is not the product itself that is tested, but its concept. For this, quantitative and qualitative methods are used.
What is product concept testing?
Concept testing is carried out before the mass launch of a new product. As part of this process, the manufacturer analyzes the audience's opinion about the tested product, and makes a decision about the appropriateness of its conclusion and the concept of promotion on the basis of this research.
The problem is, that the product does not actually exist, so the following parameters are evaluated:
- outline study;
- future marketing strategy.
The main task is to identify strengths and weaknesses, as well as the characteristics which allow the novelty to surpass existing analogues. Based on the information received, the correct marketing promotion strategy is drawn up.
What information is important for a marketing strategy?
Testing a new product provides the following important information:
- end-users' perception of the concept;
- reasons for possible rejection or fear on the part of buyers;
- clarity of the product concept to consumers;
- value analysis of the new product for buyers, compliance with their expectations;
- comparison of new items with products of competitors on the market;
- the willingness of buyers to make a purchase;
- acceptable cost for buyers;
- further purchase frequency;
- attractiveness and memorability of name for consumers;
- matching the logo / product name.
All this information will allow you to estimate sales volumes, possible profits and losses. In addition to new products, existing products on the market to be tested to compare with competitors' products (especially, if they launch something new). Manufacturer understands how to change the preferences of consumers, which makes it possible to make changes to your product (change of shape, packaging, volume, design updates etc.).
ResearchView conducts testing of a new product concept, using modern research methods. This analysis will show how potential consumers will perceive the new product, what its target audience, which is very important for a successful product launch and effective campaign.
14-year collaborative effort
more than 80% of further contacts
50% of clients are our regular clients
selection methodology under the client's budget
We worked with ResearchView on different studies, mostly on medical representatives' audits for pharmaceutical companies. ResearchView’s high quality of service, smooth conduction on project and reliable and on time delivery of results, guaranteed a successful cooperation. STEM healthcare with full confidence recommends ResearchView as a professional and reliable business partner.
Nissan would like to thank ResearchView team for the recent qualitative projects we conducted together. We appreciate the quality of moderation and recruitment and flexibility to our requests. We are happy to recommend ResearchView to other clients.
On behalf of Givaudan Russia, we would like to extend our utmost appreciation to ResearchView. High personal responsibility on professional level, accuracy and thoroughness in performance, prompt solutions of problems demonstrated by each of the departments make our collaboration effective and successful.
We have been cooperating with Researchview since the beginning of 2018. They implemented a major and important project for us. Agency team carries out projects as quickly as possible, works fast at all project stages, while maintaining high quality of works and results. We recommend ResearchView as a reliable and highly professional partner in the field of market research.
We recommend ResearchView as a reliable partner that conducts the business in a timely and efficient manner, even if any changes are being made in the research process. The study conducted by ResearchView contributed to a better understanding of our consumers and increased advertising communication effectiveness.
We would like to thank ResearchView team for implementation of a project for Mir payment system target audience research. During the study ResearchView representatives demonstrated their creative approach, complete professionalism and accurate understanding of client needs and objectives.
ResearchView is a reliable partner which conducts research that meets all quality requirements. They perform their duties with high professionalism within a certain timeline. We hope to continue our mutually beneficial and fruitful cooperation in the future.