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Which business to open? What do I want from my business? Do I need a business plan? - such a set of questions torments sleepless nights of future entrepreneurs. And…

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A world where no one is a great world. It is quiet, calm and nothing needs to be done, there is no marketing strategy needed. Well, and most importantly its…

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Professional Marketing Strategy
A world where no one is a great world. It is quiet, calm and nothing needs to be done, there is no marketing strategy needed. Well, and most importantly its…

Continue reading →

Testing the market for sales

Business is movement. To be in demand and have a high level of competitiveness, it is necessary to constantly conduct market testing and offer customers new products and services. But this must be done wisely. The thoughtless supply of goods and services always breaks down on the same problem – lack of customers. The trouble is that the problem is often not detected immediately, but after a week, month, quarter or even a year.

Testing the market for sales

During this time, as a rule, huge amounts of money are wasted. Often the losses are so serious and painful that at best it comes to huge debts that take a long time to repay, and in the worst case, to bankruptcy and business closure. Can all this be avoided? Can. One option is to not change anything, to work with the same goods and services.

The second option is to test the market before offering new products and services, verify its availability and find out its volume. The usual cost of this procedure is from 100 to 500 euros, which is much cheaper than getting a huge amount of unsold goods in which a lot of money is frozen and incurring huge costs for promoting a market that is not there.

Why market testing
market testing

Testing the market is the only way to find out if it is or not, and if so, how many consumers are on it. The test results, which a good specialist usually conducts in 3-5 days, provide enough information to understand whether these goods or services will be sold or not. Testing saves money, sometimes a lot of money, time and nerves.

Testing saves money, sometimes a lot of money, time and nerves

However, not every market testing is such in fact. The market is a collection of people who have been pumped by a specific idea and want to realize it. The idea itself is the core of the market, and a product is just a way, or rather one of the ways to implement this idea. Therefore, testing the market is including determining whether there is an idea for your product and how many people have pumped it.

If there is an idea, if it has been pumped by a lot of people, as much as you need to sell goods or services, then there is a market and it makes sense to bring a product or service to it. If there is no idea, or if few people have pumped it, then there is no market and there is simply no place to go. When there is no market, it is necessary to start another procedure – creating a market and only after it is ready – to enter it.

How to conduct market testing

One of the most common ways to test the market is to manufacture or purchase a small amount of goods and carry out a test sale, or test the provision of services. If sales go, it is believed that there is a market. If sales do not go, it is considered that there is no market. Thus, in reality, it is not the market that is tested, but the product or service.

The most reliable, reliable and effective way to test is to evaluate the ideas of the target market.

In this way it is impossible to determine for sure whether there is a market or not. They can buy a product or service by chance, either to make it pleasant for the seller, or due to a good mood or having extra money. Actually, testing a market with a product or service is just testing a product or service, but not testing the market.

Do not confuse product or service testing and market testing. It may turn out that market tests with the help of a product will show that it is not there, but it is reality, or it may turn out that tests will show the presence of the market, but it really will not. The most reliable, reliable and effective way of testing is to evaluate the idea of ​​the target market.

Testing the market for an idea

The essence of this method is that first, with the help of the market’s legram, the idea that lies at its core is determined. If you do not know the idea of ​​the target market, then you do not know the market and do not understand it. Accordingly, in order to conduct testing, you need a market legram. After the idea underlying the target market is determined, it is evaluated. The assessment process determines whether this idea is implemented in potential consumers or not implemented.

Testing the market by evaluating the target idea of ​​the market is interesting in that it can be carried out before the goods are manufactured or purchased

If the idea is implemented, it is very important to know how many potential consumers. Then it remains to determine the conformity of the product or service to the idea of ​​the market and draw final conclusions. The market may be, but if the product or service does not correspond to it, then there will be no sales. In this case, you must either modify the product or service in order to bring it into line with the target market, or enter the non-target market.

Testing the market by evaluating the target idea of ​​the market is interesting in that it can be carried out before the goods are manufactured or purchased, or before the money is spent on creating conditions for the provision of the service.

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