Differences between Product Trialling and Product Testing

Testing – Testing product in terms of reaction from customers, to gain feedback from target audience allows to make any modifications if needed.

Trialling – A limited number of product used to trial reaction and monitor sales, can be tested with a business and by consumers. (also to gain feedback)

Once Market Research is completed – why is it important to test a product before it enters a market?

-          Insure quality is sufficient - value for money?

-          Insure safety of product  - Legal Standards

-          To check if it is functioning correctly?

-          See if there’s demand for the product

Why do you think that launching a new product is going to be risky, even for established businesses?

-          Could damage reputation – customers may lose faith in the brand and its other products

-          Forecast of sales could be unrealistic –ruins cash flow

-          Product may fail

-          Low Quality – High Price = Decline

-          Losing Money if product is unsuccessful

-          Prices of the materials can chance – links to current climate

-          Could lead to lack of future investment

-          Target audience may not accept the product