Concept testing can significantly reduce product development costs
Product developers and market researchers have used Concept Testing to evaluate consumer preferences for decades. Concept Testing is done using various market research methods involving quantitative and/or qualitative techniques to measure consumer preferences to a product idea before the actual product is developed. This ability to assess likely consumer responses to a product before investing heavily into R&D and production makes it a powerful tool for prioritizing service/product features and go-to-market plans.
Traditionally, Concept Testing has been used to measure how a certain product (or service) could make consumers perceive/believe see rational benefits such as “this electric car will help save me money” to non-rational benefits such as “this electric car make me a responsible commuter”. Today, it is a powerful tool that software product managers can use to take go-no-go decisions and even prioritize expensive features.
Unlike electric cars for which prototyping will still mean creating expensive concept cars or tacky videos discussing its benefits and features; with software, we can easily create prototypes that simulate the intended user experience very closely. In addition to measuring consumer preferences, these techniques can also be used to accelerate product roadmaps and planning within the organization.
Such early stage concept testing and prototyping along with Agile based, iterative development can help you minimize risks and accelerate your go-to-market process. Concept testing with real prototypes is just one of the benefits of working with the Product Development team at Ishi.
Contact us to learn more about how Ishi’s Product Development expertise can help you manage your product development costs and accelerate your time-to-market.
