Why concept testing is essential
- Over 25,000 new consumer product skus are introduced annually in the North America.
- Only about half of new product launches are considered successful at launch.
- For every 7 product ideas, there may be only 1 that succeeds in the market.
- An estimated 46% of all resources allocated to product development and commercialization by U.S. firms is spent on products that are cancelled or fail to yield an adequate financial return.
- Inadequate or faulty consumer market research and analysis is the #1 cause of new product failure.
Hallmarks of successful products
- Offer unique and important benefits
- Offer superior value
- Respond to the Voice of the Consumer
- Conduct and abide by pre-launch market research and analysis
- Sharply focused product definition from the start
How do your product ideas measure up?
Whether you want to launch an entirely new product or refresh an existing one, you must listen to consumers.
Check your ideas with consumers now, before investing heavily in product development, product launches and marketing investments.
Understand the market potential and where it is for your item sooner, not later. Do not learn whether your item will work after you've spent hundreds of thousands to launch it or trying to launch it.
Why Traditional Concept Testing Doesn't Work
Nowhere in the go-to-market value chain does anyone manufacture, distribute sell or buy a concept. It is all done at the SKU level, item-by-item. The sooner a product developer articulates an idea as it would realistically appear in the market, as a SKU, the faster and more productive will be its development and execution. Read more>
The Skuuber approach to concept testing
Skuuber is a methodology developed to expose real consumers to product concepts as they'd actually see them at retail: in store, online or from a catalog. As such, you will need to present and articulate your product ideas as if they were a finished SKU, an item ready for retail. The details can be fictitious and speculative, but must be applied. Not only will this drive consideration of real-world details, it provides the only way to holistically assess ideas as consumers---and the trade---would actually see and buy them.
Skuuber tests your ideas with the US general population of consumers. This casts the net far and wide so you can both validate your current target market thinking and identify new target market opportunities. Do not only look where you think the light is good by identifying a target market too soon. You may miss other, better oppotunities and never know it.
See How It Works and get started today.