7. Testing and forecasting Flashcards
Different types of customrer testing
- Concept testing -> Initial reaction of the customer
- Product testing: testibng final product
- Marketing testing
Concept testing
Initial reaction of customer
- Do they like it?
- Do they understand the cponcept
- What could be done to improve it?
product testing
testing final product
- Alpha testing: tecghnical functioning, in-house
- Beta testing, technical functioning, in situation
- Gamma tsting; Feedback when in full use
Marketing testing
Are the marketing instruments (4 p’s) fine and how do customers react?
Concept/product testing TRIANGLE
Respondent selection
Stimuli design
Response measurement
Respondent selection for testing: Who to ask
- Heavy product users vs novices
- Innovative people or average people
- Employees or real customers
Stimuli design; What to test?
- packaging
- Advertising
- Product
o Branded or unbranded
o Monadic or comparative?
In which form can products be tested?
- Drawings
- Mock ups
- Prototypes/demo’s
- Radical new products
- Adding realism
- Story format
Response measurement in testing
What do you want to know? Can be different things based on the product , innovation, statge of development.
(examples; taste, satisfaction, ease of installation, purchase intention)
Narrative transportation
degree to which one develops a vivid mental image of a certain situation; immersing in the story as if being the main actor
Which stimuli design works best?
Prototype demo and drwaing with narrative text evaluated the same
Drawing with non-naritive text eveluated lower
This implies that we can use a cheaper option (drwaing with narrative)
What is the diffusion curve?
Difussion curve is a fussion model (models which help to show how sales will develop over time based on a product category)>
Most products follow classic S shape.
Diffusion curve is based on the bass model
What is the bass model calculation?
S(t) = pM + (q-p)N(t)-q/M(N(t))^2
S(t) = Sales in period t
p = coefficient of innovation
q = coefficient of imitiation
M = market size
N(t) = Cumulative number of customer who already adopted
What data is needed to etsimate the parameters of the bass model?
Historical sales data of the new product
Analogous products with known sales pattern: use parameters of products that are similar in terms of Environmental context, Market structure, Buyer behavior, Innovation characteristics
What happends when P/Q increases/decreasez (bass model calculation)?
P decreases = line becomes flatter
P increases = line becomes steeper
low Q = line will be more linear
high Q = line becomes steeper in a short period of time
