Concept Testing

Concept Testing

Whether you are developing a new product or licensing intellectual property, your customers need to understand what you are selling. For early-stage technologies, it can be challenging to know what features, price points, and product form the market requires. Concept testing is designed to address this challenge.

Connecting Your Product with Markets and Customers

Concept testing involves several market-facing dimensions. To begin, UVG evaluates a set of target markets to create a landscape of competing or alternative products related to the subject invention or technology. Next, UVG identifies key market participants and assesses each according to factors that influence new technology or product adoption. Based on these factors, UVG creates a product concept description intended to highlight unique features or capabilities and assess the degree of market interest in them. UVG identifies prospective customers or partners, and through direct contact, collects feedback on the concept and validates interest in and ability to adopt the new technology or product by the prospective customers.

Concept Test

  • Targeted market/segment research
  • Concise product concept description
  • Direct contact with real, live prospective customers/partners
  • Assessments of capacity and interest in adopting the technology
  • Deliverable: written findings report with references

Concept Tests Provide

  • Concise product concept description highlighting unique features
  • Customized market data including segment size data and trends
  • List of participants in targeted space
  • Detailed feedback from prospective customers/partners coded according to key factors
  • Assessment and ranking of firms’ interest and capacity for sales or licensing
  • Live leads – frequently, the discussions started during Concept Testing lead to qualified sales prospects for the technology
  • Overall recommendations for next commercialization steps