Product managers are constantly receiving requests to improve products. But it is not only minor optimizations, where a few adjusting screws are turned, that must be taken into account; competition also forces companies to constantly develop and implement new product ideas.
It is not trivial to decide which inquiries to take up and which idea to invest in. This is further complicated because 95% of all product launches fail. With only 5% successful product launches, it is therefore even more critical to ensure that as many aspects of the product as possible are considered during its launch.
Concept testing as a fast, straightforward ‘best practice’ solution
How can you overcome so many challenges in such a short time? With concept testing! Concept testing is a research method in which consumers answer questions about concepts and ideas for a product or service before it is introduced. This allows you to measure your customers’ acceptance and willingness to buy and thus make critical decisions before launch.
When you are convinced of an innovation, you assume every new feature or product idea will succeed. However, as the numbers show, this is rarely the case. Only customers can decide whether an idea will succeed or crash. For this reason, it is essential to test ideas and concepts before introducing them to the market. The knowledge gained through concept testing helps to bring successful products to market.
Concept testing can generate insights into various aspects of an idea. Questions can be asked about a specific function, appearance, pricing, and more. This way, the fit with customer needs can be ensured for each element before launching the product.
Always keeping customers in mind
To stay in touch with customers’ needs, survey tools are available for all critical process steps in an innovation project, i.e., from the review of ideas and the testing of essential elements before market launch to customer satisfaction measurement, and are designed differently adapted to each question. Ready to use. You then «only» need to know which questions you want to be answered. And for this, there are now platforms where such concept tests can be prepared and immediately used even by those without experience in survey research.
deeptrue makes it possible to test ideas and concepts before a product is launched.
The product market fit can be determined, and the product can be adapted according to customer needs before the market launch.