Tuesday, January 19, 2010

Inportance of Test Marketing

I want to discuss the importance of testing a product’s market appeal BEFORE spending money to launch a new business and an advertising campaign.

Quite possibly the biggest mistake people make in business is they spend all of their money building a new product and opening a business BEFORE they test the market to see if consumers really want this new product. Many people have lost their life’s savings and have gone bankrupt by starting a new business to sell a new product before testing to determine if consumers even want the product.
You can never know the public’s response to a product or service without first testing it to see what their reaction will be. Testing is the key to success in marketing. NEVER try to sell a product without first test marketing it to see if consumers really want it.