Marketing Concept Testing Definition. The second phase in the development of a new product. Concept testing is a process of evaluating an idea a concept or a project.
It is simply an investigation of prospective customers reactions to a proposed product or service before introducing the product or service to the market. The first type is about identifying which of several concepts are worth pursuing and the second is about taking a concept youve already chosen to develop and determining how to optimize its features for maximum market penetration. What is Concept Test.
It is the process of using quantitative and qualitative methods to evaluate consumer response to a product idea prior to the introduction of a product in the market.
Marketing dictionary Concept Development and Testing. According to Entrepreneurs encyclopedia definition Market Testing is defined as a way to test multiple marketing scenarios and select the most promising for expansion In laymans terms market testing is a way to test the waters to see how well a product service or offering will performor not. Introducing a new product or service without first testing the market is like jumping. A two-phase stage in the development of a new product in which potential buyers are presented first with the idea or description of the new product concept testing and later with the product itself in final or prototype form product testing in order to obtain their reaction.
