Case Study: How to Achieve New Product Success with Concept Tests
Below are excerpts from the case study, "How to Achieve New Product Success with Mobile Concept Tests." Download the full case study to see details and results from an actual concept test of new products.
So, you’re ready to launch that new product?
Congratulations! It’s a momentous occasion.
But if you’re like most, it’s also a little terrifying, isn’t it? After all, the costs of developing and marketing a new product are usually steep and irreversible.
And then, of course, somebody has to mention one of those ugly statistics—something like, “You know 95% of new products fail, don’t you?”
For these reasons and others, it pays to leave little to chance when developing and marketing new products.
How to Achieve New Product Success
Concept testing is a way to audition a new product—whether it's an abstract idea, prototype, or market-ready version—for real consumers. Think of a concept test as a way to sell your product to potential customers before actually selling it to them.
In this way, concept tests help companies answer critical, market-related questions about new products prior to reaching incrementally higher levels of investment, public exposure, and commitment. Questions like:
- What are potential customers’ attitudes toward the concept?
- What price are would-be customers willing to pay?
- For market-ready products: Is the product bug-free and ready for launch?
- Ultimately, does the concept appeal to consumers and will they buy it?
By answering such questions early in the process, companies leave less to chance later—when the stakes are even higher.
Case Study: Concept Testing Fayettechill T-Shirts
For those who know and love the brand, Fayettechill stands for more than the outdoor apparel it makes. A producer of high quality, sustainable t-shirts and clothing, many outdoor enthusiasts know Fayettechill as a laid back, conscientious, and artistically uplifting brand.
With each new season, Fayettechill unveils a fresh line of t-shirts and other products. Field Agent conducted a Mobile Concept Test of five designs in Fayettechill’s Spring 2016 collection, to help the company explore consumer attitudes and purchase intentions toward some of its new items.
Using Fayettechill as a case study, we'd like to describe and illustrate the 3 basic steps of an effective concept test—to help prepare you and your new products for success.
Download the full case study below, complete with details and results from the Fayettechill concept test.