Answer to Question #302756 in Marketing for Mohd Danish

Question

Concept Development and Testing:

What are the steps you will take to develop a concept and how do you propose to test it?

Answer 1

STEPS TO DEVELOP A CONCEPT

• Brainstorming to create a pool of potential product or service concepts.
• Performing customer research to target your ideal customer.
• Estimating the market potential for your product or service concept.
• Creating a prototype for your product.
• Devising a marketing strategy.
• Performing test marketing.
• Evaluating your results.

HOW TO TEST STEPS TO DEVELOP A CONCEPT

1. Describe Your Concept Test Goals.
2. List Your Key Questions and Hypotheses.
3. Determine Your Target Customer Criteria and Sample Size.
4. Choose Your Sample Source.
5. Create Your Concept Descriptions.
6. Collect Your Concept Visuals.
7. Outline Your Survey Path.
8. Develop Your Survey Questions.