Test Marketing Your Product or Service

Six Ways To Get Fast FeedbacknnHow do you test market a product or service? How do you find out if people are actually going to buy it? First, make or get a prototype. Create or get a sample. If it’s being manu factured somewhere else, get a sample of it. If you’re going to manufacture it your self, create a prototype so that you can show it, demonstrate it, photograph it. So that you can let people see it, touch it, feel it, and get an opinion from it.nnShow It To Potential BuyersnWhen we brought the Suzuki 4-wheel drive vehicles into North America, we bought three of them. We brought them in and drove them around to about 20 or 30 dealerships and let people look at them, test drive them, see them, touch them, smell them, feel them. And went on to sell tho usands and tho usands of vehicles. So get a prototype or a sample. That’s the starting point.nnDetermine the Correct PricesnSecond is get accurate pr ices and delivery dates from your suppliers. If you’re going to show the prototype or sample, if a person says how much is it, or how long will it take to get it, be sure that you have the answers.nnOutselling Your Competition is easy with the proper tools and techniques!nnAsk A BuyernNumber three is get a buyer’s personal opinion. In other words, go to somebody who you will want to buy the product or service and get their personal opinion. Say, would you buy this? And at what price could you sell it? And always call on the individual who makes the buying decisions. Always call on the person who can sign the check.nnCompare Your Product With OthersnNumber four, compare your product or service with other products on the market. And be sure to ask this question, "Why would someone buy from you instead of from someone else?" Number five, if it’s a ret ail product, try a 1-store test. Go and see if you can’t find a store who will carry the product on a limited basis and see how customers respond to it. Try a 1-customer test. If it’s a product or service, try to find one customer who will use the product or service.nnStart With A Great IdeanNow Ross Perot, when he started EDP Industries, only had a thousand dollars. He had a great idea that would cost an enormous amount of mo ney to implement, and he was able to sell his first customer on paying him in advance for the services that he was going to sell them. With the mo ney that he got in advance, he was able to deliver the services, to prove that they worked and that they were cost effective. And the rest is history. Ross Perot went on to build one of the most successful businesses in America.nnTake It To A Trade ShownA sixth way to test market a product or service is take it to a trade show. There are 15,000 trade shows per annum all over the country. Sophisticated buyers go to trade shows and they will tell you rapidly whether or not you have a winner.nnAction ExercisesnHere are two things you can do immediately to put these ideas into practice.nnFirst, get a sample or prototype of your product or service and show it to as many people as possible, especially to potential buyers. This will give you fast feedback that can be very helpful to you.nnSecond, look at all of the other competing products or services on the market and be very clear why someone would buy from you rather than continuing to buy from someone else. This can be the most important question you ask and answer.nnOutselling Your Competition *** Plus Bonus CDsnn