Test Marketing

Test Marketing

Test Marketing Jonathan Poland

Test marketing involves testing different marketing strategies or variations on customers in order to gather data and evaluate their effectiveness. It is a way for businesses to experiment and try out new ideas in a real-world setting, and can be a useful tool for innovation and risk management. By testing marketing strategies on a smaller scale, businesses can get a sense of how they might perform when they are rolled out more widely, and make adjustments or changes as needed before committing significant resources. The following are common examples of test marketing.

Products & Services
Selling products and services on a limited basis before a full product launch. For example, a donut shop that tries 50 new donuts in two locations each to decide which to launch on a nationwide basis.

Customer Service
Customer service changes that are introduced as a pilot. For example, a restaurant that introduces a no tipping policy together with an incentive program for employees to earn bonuses when customers are satisfied.

Customer Experience
Customer experience testing such as a hotel that experiments with a floor for parents with small children and babies. The rooms on the floor have features such as cribs, toys and complimentary diapers.

Distribution
Distribution experiments such as entering a new region or country on a trial basis.

Pricing
Experimenting with pricing structures and strategies such as a telecom company that introduces flat pricing in one city to measure the impact on demand.

Promotion
Promotional experiments such as testing variations of an advertisement on a limited basis before a major campaign.

Branding
Brand related tests such as releasing a new logo variation to see if it impacts brand recognition and sales.

Learn More
Pre-Sales Jonathan Poland

Pre-Sales

The term “pre-sales” can refer to a range of different things depending on the industry in which it is used.…

Product Features Jonathan Poland

Product Features

A product feature is a characteristic or aspect of a product that contributes to its overall functionality and performance. Product…

Value Added Reseller Jonathan Poland

Value Added Reseller

A value added reseller (VAR) is a company that buys products from manufacturers or distributors and then resells them to…

Algorithms Jonathan Poland

Algorithms

An algorithm is a set of instructions or rules that are followed to solve a problem or accomplish a task.…

What are Tactics? Jonathan Poland

What are Tactics?

Tactics are short-term, immediate strategies that are designed to respond to fast-changing realities and situations. They are focused on taking…

Cash Flow Statement Jonathan Poland

Cash Flow Statement

The cash flow statement is a financial statement that shows the inflows and outflows of cash for a company over…

Design-Driven Development Jonathan Poland

Design-Driven Development

Design-driven development is a product development approach that places a strong emphasis on design, with a focus on form, function,…

Digital Maturity Jonathan Poland

Digital Maturity

Digital maturity refers to an organization’s ability to effectively utilize information technology to achieve its goals and objectives. This can…

Phased Implementation Jonathan Poland

Phased Implementation

Phased implementation is a method of developing and introducing a business, brand, product, service, process, capability, or system by dividing…

Latest Thinking

Qualified Small Business Stock (QSBS) Jonathan Poland

Qualified Small Business Stock (QSBS)

Qualified Small Business Stock (QSBS) refers to a special classification of stock in the United States that offers significant tax…

Barrick Gold Jonathan Poland

Barrick Gold

Barrick Gold Corporation (NYSE: GOLD) is a significant player in the global economy, particularly within the gold mining industry. Its…

Newmont Corporation Jonathan Poland

Newmont Corporation

Newmont Corporation (NYSE: NEM), being the world’s largest gold mining corporation, with extensive operations in mining and production of not…

Gold is Money Jonathan Poland

Gold is Money

Overview The history of gold as money spans thousands of years and has played a pivotal role in the economic…

What is Leadership? Jonathan Poland

What is Leadership?

In the modern business world, where rapid changes, technological advancements, and global challenges are the norm, effective leadership is more…

Product Durability Jonathan Poland

Product Durability

A durable product, often referred to as a durable good, is a product that does not quickly wear out or,…

Durable Competitive Advantage Jonathan Poland

Durable Competitive Advantage

The most important aspect of durability is market fit. Unique super simple products or services that does change much if…

Praxeology Jonathan Poland

Praxeology

Praxeology is the study of human action, particularly as it pertains to decision-making and the pursuit of goals. The term…

Business Models Jonathan Poland

Business Models

Business models define how a company creates, delivers, and captures value. There are numerous business models, each tailored to specific…