Q: When is it that consumer panel testing is conducted to determine the acceptance of new products by consumers? I am aware that in some cases a company has to conduct a market survey prior to introducing their new product but I am wondering how is consumer panel data collected during the testing phase. Thanks!
A: In most cases, it’s the consumers themselves who are involved in the collection of consumer panel data during the test marketing process. Each individual panelist is asked to fill out a short online form prior to their visit to the testing site to record demographic information such as age, gender, education level and purchasing habits. Once you have this information, you can then segment the data to show you what characteristics in a new product launch are garnering the most interest from your target demographic. Obviously, if the new product you are launching makes more money or offers more features that are desirable to your customers, you will want to focus on those segments of your audience more than others.
So the question you are asking is “How is consumer panel data gathered during the test marketing process?” The answer is quite simple. You collect it as part of the standard customer surveys conducted throughout the launch period. These surveys will help you understand where the majority of your customers are coming from and how they are getting there.
During the beta testing stage, your goal is to find bugs or kinks in the functionality of your new product. This way, you can quickly resolve any issues before they become problematic for real users. In addition to this, you want to also gather performance metrics to ensure that your website or application meets your goals and objectives. The metrics you use will tell you which pages are attracting the most hits and which are not. By monitoring these statistics over the course of the beta testing period, you can identify areas for improvement.
There are two main ways of how is consumer panel data gathered during the test marketing phases of a new offering. In one scenario, you might conduct an actual survey across several age groups. In another scenario, you might use an online questionnaire to get answers from real customers. However, both of these methods will still give you valuable data that you can apply to your business operations.
These are the basic ways on how is consumer panel data gathered during the test marketing phases of a new product. The best thing to do is to gather all the relevant information you can to use it to improve your overall operations. Good luck with whatever you decide to do!