Market Acceptance Test

I have just read a book that gives an excellent idea on how to test  your product before launching to the market. After reading and thinking about it, for everything that you are selling, it ought to have a certain value to the customer and the customer ought to be willing to pay for it. The customers are the one who decides that the product that you are selling is valuable enough that they wanted to spend their hard earned money into your product.

Imagine you have created Something and you wanted to sell it for a certain price. Before you move ahead and purchase the tools for mass production, you need to know first whether your product will be able to thrive in the market because purchasing the tools can be very costly. You begin to wander on how to try to sell your product without manufacturing it first to avoid the unnecessary cost.

One of the ways of testing your product is by using a technique called the Shadow Testing. Shadow Testing is being done by letting your product out in the open market before production. One of the way to do this is letting your customers know about your product and the value that you can deliver onto them.  After marketing your product out in the open, the next step is to open a subscription for them to pre-order for the product. When they are doing the pre-order, you will not charge the customer until a certain date (ex. release date). The no charge action is being done to put the customer in a loss aversion state because nobody wanted to be at a disadvantage position.

After gathering for a while, you will be able to see that whether your product could thrive in the market or not. If it is not then you don’t have to continue on because you have not charged anyone for your product. On the other hand, if it is then you already have their credit card number and you could charge them for the product that they already ordered.

By doing this, you could avoid a lot of unnecessary steps before knowing whether your product will be able to thrive in the market or not. The costs that you needed will be far less.

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