Concept testing : a key to successful product development
Concept testing is a research tool used to assess the market viability of a new product idea prior to incurring the development expense of actually fabricating a product. This paper examines the current literature on concept testing to establish its importance with respect to new product success. The New Zealand mobile radio manufacturer Tait Electronics is used to illustrate how the technique has been applied in this country.
Keywordscreativity; product innovation; goods and services; market analysis; decision making; business development; industrial products; marketing strategies; concept testing; entrepreneurship