Having the best product trial in the world is not enough. Unless you can get customers to make repeat purchases, your product won’t survive in a competitive and thriving marketplace. Nielsen data shows products lacking a great customer experience only have a 5 percent chance of attaining market success. With a flexible range of product testing solutions integrating traditional product testing with the latest in-mobile based consumer research methods, the Pathwwway product testing team offers deep understanding and actionable insights about product benefits and pitfalls.
- Product Testing & Development: A Comprehensive Approach
Fresh, iterative product testing is needed within the product development process. This is because marketing is deeply influenced by the product development process. New products require strategic targeting and positioning strategies. Product modification needs a revised communication strategy for conveying benefits to clients. Specifically, product development requires an in-depth review and assessment of the entire marketing strategy and identification of opportunities.
Deploying test and product evaluation efforts before product development offers important information for designing new product marketing strategies. This includes potential consumer characteristics, product-related features, advantages over competing brands, usage concerns, competitive pricing and communications. So Pathwwway Limited product testing does not stop at product trials.
It encompasses all stages of product development from ideation to launch and post-launch marketing efforts. Marketing strategies need to be initiated during product development. Product testing and marketing go hand-in-hand when it comes to deciding on the packaging, colour schemes, materials, product data and product safety, connecting the dots between manufacturing, engineering and marketing.
- The Importance of Targeting and Positioning
Selection of the market target for fresh product ranges from offering new products to existing targets or identifying a new group of potential buyers. Review of prior marketing research for new products offer useful insights for targeting opportunities. Testing the market and the product before deciding on market positioning is essential here.
Positioning must be strategically focused on during the development stage of product testing itself. Product strategies need to focus on packaging, size, named selection and other product aspects. New channels of distribution are used, so firms develop a channel strategy. Management needs to formulate an effective pricing strategy, too.
- Product Testing Alternatives
Product testing needs to be considered at the stages of product development, to gauge responses to new products and test one or more positioning strategies. Test marketing is essential for all kinds of products. This includes conventional, scanner-based or simulated test marketing. The Pathwwway product testing team focuses on test sites that have demographic and market conditions and characteristics similar to the commercial target market.
The team also focuses on analytical models for predicting sales and market share, based on test market information. First purchase models or model designs are focused on new or repeat customers, respectively.
Commercialisation is an important element of product testing, too. Introducing new products requires a decision sequence that includes complete marketing plans, coordination introduction activities of business functions and monitoring plus control over product launch. Commercialisation or the go-to-market strategy requires in-depth planning.
An important decision regarding products, according to the Pathwwway testing team, is the timing and geographical launch scope. Options range from roll-outs per area to national markets. Real-time tracking of new product performance is essential, too. That is why product performance is focused on by the Pathwwway team. Performance targets include profit contribution, sales, market share in ROI objectives. Regulation of customer satisfaction is a gauge of market performance.
- Product Development for Brand Transformation
The Pathwwway team focuses on changing the product from concept or prototypes to offerings ready for launch. Product development also includes product line additions, modifications and extensive development of marketing strategies. User reactions are important to assess. Testing is vital because it helps your production team to avoid costly errors. Some products can be ineffective in that they do not want customers, do not solve customer issues, are not profitable or underperform as compared to the competition. Without Pathwwway product testing offering actionable insights, companies can fall into traps like making unsubstantiated conclusions.
A detailed product development process by Pathwwway serves as a filter for ideas. Once the customer problem is identified, new products can be tested for viability. An effective production process sifts out bad ideas and permits solid ones to reach production. In-depth product testing also helps to establish communication across the company. Diverse teams are essential for successful product development. With a wealth of experience, product teams from Pathwwway solve problems, understand user perspectives and bank on viable products.
From identifying customer need to generating ideas that solve problems, keeping all the possibilities in place is essential. Consider Google’s Project Loon which uses hot air balloons to deliver Wi-Fi internet to Peru. The idea was initially rejected and even seen as unviable. But post extensive product testing, balloons served to be the most practical way for boosting internet services in this South American region.
- Understanding the Market
Even before teams build products, they need to understand if there are enough potential buyers, would they be interested and can they make processes of development viable. Some of the most important questions the Pathwwway product development team provides answers to are:
- What is the cost of product development?
- What is the addressable total market the brand can focus on?
- How much do products cost to maintain and fit into existing portfolios?
- How does this influence sales and what is the cost of team retention?
- How will it impact the brand?
Once products are screened and there’s a business case, creating a MVP/minimum-viable-product is essential for agile development teams to test each time with a new iteration. Companies can beta test with select customers. Ideally, the group represents a broader market and offers utility to compete with existing products.
Product teams can collect customer feedback, improve and iterate features to prepare for release. For succeeding when it comes to product development, the Pathwwway product testing team understands that the cycle of innovation never ends. This is why product testing and development from Pathwwway offer incredible benefits for agile disruptors who want to build a solid brand and a positive reputation in the market, as well as products that sell.