It’s Time to Test Market Your Products/Services

The test market represents a trial run. Unlike the first two rounds of market research, which look for feedback on a product/service concept, the test market usually involves presenting a prototype to a group of potential customers or distributors. The test market does two things. First, it indicates the level of interest in the product or service the firm plans to offer the target market. Second, it may provide useful feedback. Test markets frequently provide insights into distribution preferences, price sensitivity, quality perceptions, and service-after-the-sale expectations. Continue to read It’s Time to Test Market Your Products/Services