The purpose of validation testing is to make sell-in easier.
“How well will this product sell?” That is the question that is going through the buyer’s mind when your sales people are showing them a new product. The more information you can provide that reassures them that the product will sell, the more likely they are to take a chance on your new product.
How do your sales people answer the question “How well will this product sell?” Are they able to provide objective third party data that proves that the product has a strong level of consumer interest?
Validation testing provides you with the objective third party data that buyers need to make a buying decision.
How product validation testing works:
We conduct an online survey with our proprietary HomeTrend Influentials Panel and or a nationally representative sample of US households.
We show survey respondents one or more photos of the product and a written description of the new product.
We then ask them questions about what they think of the product, what they would expect to pay of it, and how likely they would be to buy it at the stated price.
To establish a hurdle rate or benchmark for evaluating the data, we also test one or two of the best selling competitive products in the category.
Cost: $4,000 to $6,000 per product concept (includes two additional products to establish benchmarks). Price depends on the number of questions and sample.