In simple terms, product testing analysis refers to the process of evaluating a product on the basis of its properties or performance. Product testing analysis ensures that consumers understand how a product performs and adds value to their purchase. The niche of product testing analysis from Pathwwway Igaming includes:
- Development and testing of new products: Testing a new product before it is officially launched in the market helps in identifying consumer perspective about the product. It helps in finding answers for whether the consumers like or dislike the product, will they buy the product, does the product possess all the desirable features and benefits expected by the consumers, and does the product meet the criteria to get to the market front?
- Value engineering: Irrespective of the domain of product, one challenge observed by every manufacturing company is cost cutting. Comparing re-engineered products to the originals help in unearthing valuable information about the potential of the product to perform in the market. It helps in answering questions like does the re-engineered product also equally liked by the consumers, do consumers perceive the product differently, do they rate the differences as good or bad, are the consumers more likely to buy a reformulated product, will the consumers buy the new product more or less frequently?
- Competitive benchmarking: Product testing analysis helps manufacturers identify the competitiveness of the product in comparison to similar product lines in the market. This helps in analyzing whether a product performs equally well as the competitors.
Whatever be the intention behind product testing analysis and at whatever stage it is performed, at the end it results in better, value-added products that ultimately benefit the consumers.
Raison D’etre For Product Testing Analysis
Companies undergoing rigorous product testing analysis achieve product superiority, strengthened brand share and positively-oriented marketing activities to ensure availability of products at a premium price in comparison to their competitors. Well-executed product testing analysis can be done to:
- Achieve product superiority
- Improve product performance to ensure customer satisfaction
- Monitor potential threats posed by other competitive products
- Evaluate the effects of aging on product quality
- Implicitly evaluate how price, brand name, and packaging affect perceived product performance
- Reduce cost of processing methods and product formulations without compromising on quality of the product
- Serve as a guideline for research and development of new products or upgrade of existing products. Demonstrate a proof of concept.
- Monitor quality of product from different sources, factories, or distribution channels
- Conduct a predictable analysis of the acceptance of a new product by the consumers
- Ensure that requirements of the product as listed in the specifications, contract, or regulations are met
- Verify product liability, patents, or claims
- Improve existing product features
Unveiling Product Testing Secrets
An effectively conducted product testing analysis can provide exceptional insights into the quality and performance of a product. Following parameters must be considered to ensure an accurate, actionable product testing analysis procedure:
- Systematic Approach: Product testing constitutes a standardized system involving validated methods and procedures which include:
- Identical product preparation practices for packaging, aging, and coding
- Identical questionnaires for different categories of products
- Identical sampling plans for matched samples
- Identical analytical methods for tabulation and data preparation
- Normative Data: A normative database containing results recorded for previous tests makes testing more meaningful and valuable. Normative data helps in improving a company’s ability to interpret product-testing scores correctly to efficaciously evaluate how good or bad is the product from consumer’s perspective.
- Research Company: Product testing analysis can be conducted by a manufacturer, a government agency or an independent laboratory. The key here is that the same research company must perform all product tests to ensure all tests follow the same procedure.
- Real Environment Test: The product must be tested in the exact environment where it will be used. Real environment Pathwwway Igaming tests produce the most accurate results and ensure a predictive analysis of the product.
- Relevant Universe: One of the critical variables in product testing is sampling. In general, for new or low-share products, the sample must reflect the brand-share market makeup. For well-established or high-share products, the sample must reflect a readable sub-sample of users or non-users of the product. In simple words, for a company with a low brand-share, the opinions of non-users must be given more weight.
- Critical Variables: The critical variables of quality and product performance must be evaluated from the consumer’s perspective.
- Conservative Actions: The formulation and processes for an established product must never be changed without proper testing and evaluation. For a new product, test marketing in a limited geographical area for a specified time period may prove helpful. As a general rule, the larger the market share of a product, the more conservative manufacturers must act in introducing a new formulation.
Techniques Of Product Testing Analysis
Various research designs are used for testing products in different product categories. These include:
- Monadic Testing: Solitary testing of a product offers various advantages. This type of testing eliminates paired-comparison, simulates real-life application, permits the use of nomadic data, and provides most precise and actionable diagnostic information.
- Sequential Monadic Designs: A cost-reducing testing approach wherein two products are evaluated sequentially. However, these tests are prone to suppression effect that implies all results will be comparatively lower than in pure monadic tests, and interaction effect that implies if the score for one product is exceptionally high, it will be disproportionately low for the other.
- Paired Comparison Designs: Most evidential among all and facilitates sensitive testing between two products. It is one of the least expensive approaches that help in determining which one is better among any two products. However, it does not highlight any shortcomings of the products. This approach cannot use normative data and is influenced by interaction effect wherein a variation in the product under study correspondingly varies the score for the product.
- Protomonadic Design: This approach begins with a monadic test and follows into a paired comparison. Sometimes, sequential monadic tests are also followed by paired comparison. This approach yields valuable diagnostic data. The paired comparison serves as a safety net that adds insurance of accurate results.
Although the methods and concept of product testing analysis apply virtually to all product categories, the structure and execution of the procedure may vary from one product category to another.