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NEW PRODUCT DEVELOPMENT PROCESS
MARKET TESTING :
The stage of new product development in which
the product and marketing program are tested in
more realistic market settings.
To learn how large the market is and how
consumers & dealers react to handling, using and
repurchasing the product
Types of test:
a) STANDARD TEST MARKETS
Select a small number of cities, conduct a full
campaign and measure performance
b) CONTROLLED TEST MARKETS
Appoint a few stores to be as company’s panel,
and track the behaviour of customer in the store
c) SIMULATED TEST MARKETS
Create a simulated shopping environment
COMMERCIALIZATION :
Introducing a new product into the market
PRODUCT
LAUNCH
