Market Test Your Idea
- Published on Monday, 27 January 2014 13:51
- Bob Cannon
- 1,076 Comments
It seems ludicrous to have to say it, but inventors and marketers should market test their ideas. When you don’t market test your idea, you may end up with one of the Worst Inventions of 2009.
Actually, that may be the least of your problems. To get to the point where these inventions even became visible to the market means that a great deal of time, money and effort was spent in designing, engineering, producing and marketing these product ideas. In all likelihood there was also money spent on inventory. Embarrassment is one thing, but wasting resources that might be used to introduce a successful new product is quite another. Just think of how many other ideas might have made it to testing if only the resources hadn’t been wasted on a product that was not market tested.
From my experience, this is not an isolated problem. Rather, it is very common. I can’t overstate the importance of market testing and creating iterations of the original invention until you are convinced that it can be a commercial success or should be set aside for further development or a better idea.
Taking an untested product to market is very risky. You might win, but you could avoid the risk all together if only you would market test the idea.