Product Testing Market Research
Taking a product through the concept phase can be a daunting process in a complex and ever-changing marketplace.
To mitigate the risks associated with launching a new product, it is crucial to conduct comprehensive and insight-rich testing with targeted stakeholders and consumers.
We take a unique and innovative approach to conducting product tests and delivering critical pre-launch consumer analysis to clients.
What is product testing market research?
Product testing market research is an essential component of product development. By collecting insights and data from potential customers, companies can learn more about a product’s performance, usability, and desirability.
With these findings, companies have the information necessary to make wise decisions regarding their products; therefore increasing customer satisfaction levels while simultaneously improving sales.
Why is product testing market research so important?
Product testing market research is critical for making sure the products truly matter to customers. This is because you can study market trends and current consumer preferences that may change from year to year depending on the global market and its trends.
Thus, enterprises should conduct product testing market research to understand how potential customers perceive their products, discover any issues or concerns consumers may have, and modify them accordingly. Without this research, companies risk launching products that don’t meet customer expectations – and this can lead to low sales and damage the brand’s reputation.
Furthermore, these insights can assist companies in developing refined strategies for their products that set them apart from the competition, providing businesses with a competitive edge.
Opportunities and challenges of product testing market research
Product testing market research open great windows of opportunity for companies. However, it must also be taken into account that this study presents some challenges to overcome for an accurate picture of consumer tastes in a specific market.
- Innovation: Product testing market research delivers valuable insights into customer demands and tastes, helping companies to identify potential areas to innovate and differentiate their products from those of their competitors.
- Customization: Companies can increase customer loyalty and satisfaction by crafting products that speak directly to customers’ needs. By tapping into what drives their preferences, businesses will build trust while creating tailored solutions that meet each unique requirement.
- Branding: Product testing market research provides tremendous insight into how consumers perceive the company’s products. It allows the decision-making team to refine the brand identity.
- Cost reduction: Companies can lower the cost of post-launch product improvements by solving issues before the launch, resulting in improved efficiency and higher profits.
- Market expansion: Market research can uncover untapped potential for businesses, unveiling fresh and unexplored market opportunities that could lead to expansive growth.
- Enhanced marketing strategies: By leveraging customer feedback, companies can benefit from in-depth insights to customize their marketing strategies and reach a wider audience and more potential customers.
Product testing market research can be beneficial to companies, yet there are a few challenges that arise when conducting this type of study:
- Conducting product testing market research can be a lengthy process, as well as costly if the company is seeking to test several products, or the company plans to enter multiple markets at the same time. Companies must invest the necessary time and funds to ensure that the research is completed accurately.
- Finding suitable participants for research may be challenging depending on the particular characteristic of the target market sample.
- To gain valid results, companies must guarantee that the sample size of their research is ample. Otherwise, they will not be able to draw reliable conclusions from the data collected.
- Consulting firms must mitigate bias during product testing market research. Participants could feel social pressure and provide similar answers if the moderator does not ask them to elaborate on their answers.
- Interpreting the research results may be a complex task if there are multiple products for different market segments. Companies must carefully evaluate the data they receive and use it to make effective product development decisions.
Our multi-layered concept testing techniques are focused on identifying consumer relationships, sources of Emotional Connections, unmet needs, and product preferences. The best and most effective concept tests often come in the form of a hybrid methodology, employing both qualitative discussions and larger-scale quantitative surveys. Ultimately, our solutions provide rich layers of actionable data to our clients that drive the results of their new products in the marketplace.
Case Study: Product Testing on DSLR Camera Lenses
Background and Research Goals
The client, a manufacturer of DSLR camera lenses, sought to understand the reasons behind American consumers’ opinions on the aesthetic elements of mid-range and high-end DSLR camera lenses. The interest was specifically on the visual, tactile, and auditory aspects of the lenses rather than the photo quality they produced. Consumer attitudes towards lens appearance, feeling, and structure have been somewhat overlooked in previous research in this area, which has focused mainly on the functional aspects of lens quality.
23 respondents were selected based on three main criteria:
- Owning high-end and mid-range Canon and Nikon digital cameras
- Owning at least 3 DSLR camera lenses
- Taking photos with a DSLR camera at least five times per week.
These respondents were invited to a Manhattan photo studio where they provided their in-depth opinions on 14 different DSLR camera lenses. The lenses, each from different manufacturers, were selected to represent different aesthetic styles and choices that designers make, e.g. the location of labels and controls on the lens, the ease or difficulty with which the focus and zoom rings can be turned, and the feeling of the material the lens is made of. Each respondent completed one hand-written survey per lens, which included both scale-ranking questions as well as open-ended, qualitative questions. The results of these surveys were then analyzed on both a quantitative and qualitative level to uncover market trends.
Findings and takeaways
Analysis of these questionnaires yielded several key findings, including:
About SIS Product Testing Market Research
SIS is a leading Market Research company. We have conducted thousands of tests across the United States and around the world. Product Tests are detail-oriented and require experience to ensure they are conducted effectively. We provide that experience.
Our Product Research Solutions include:
- Sequential Monadic Product Tests
- Monadic Product Tests
- In-Home Usage Tests
- Central Location Tests
- Focus Groups
- Mobile Ethnography
SIS International offers Quantitative, Qualitative, and Strategy Research. We provide data, tools, strategies, reports and insights for decision-making. We conduct interviews, surveys, focus groups and many other Market Research methods and approaches. Contact us for your next Market Research project.
Contact us for your next Market Research Project.
- Email direct: [email protected]
- Contact one of our global offices