New Concept Testing
Launching a new concept can be exciting! In the early stages of development it is easy to get caught up in the excitement and lose sight of the end goal: To sell your product or service, to make people want it, and make it a success. A little bit of new concept testing can give you the necessary feedback to make adjustments to insure that success is a reality. New Concept Testing focuses on new products, services, or concepts, and evaluates advertising campaigns, pricing, and strategy for viability with your target market.
New Concept Testing can answer those maddening questions:
- Will your new product or service work?
- Will the target market accept or reject it?
- What improvements should be made prior to launch?
Doing new concept testing in the early stages focuses on identifying the ideas that will optimize the concept and maximize the return on investment.
Gold Research, Inc.’s research can shed light on consumer insights and supply you the right answers to those nagging questions. We have decades of experience in finding the optimal mix of product or service features, or setting the right price.
Gold Research, Inc.'s testing process for products & services involves:
- Concept testing - Identify the best ideas among those competing for development and marketing resources, or reduce the number of competing ideas before you invest in expensive standardized testing.
- Pricing research - Methods like Van Westendorp or conjoint analysis are often key to the success of any new product or service as they help determine correct pricing levels that perfectly complement customer acceptance and profits.
- Positioning – Identify the core benefits of your new product or service. Compare and evaluate those with the strengths and weaknesses of competitor offerings and find the key drivers that can positively impact and maximize acceptance.
- Name testing - What’s in a name? Everything! The correct name and logo can be the critical difference between success and failure. Understanding customer preferences to guide name development requires skilled research approaches that can effectively test and reveal the winning combinations.
Let Gold Research, Inc., analyze your new concept so you can maximize your return on investment!