Simulated Test Marketing: Technology for Launching Successful New Products

(Paperback)

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Description

Innovation remains an arduous and painful process for many companies, doing untold damage to brands, profitability, and careers. Some have used line extensions to mitigate risk, but all too often they have ended up extending the core brand into oblivion. Others have used test markets to help gauge opinion before a national rollout, only to have competitors snatch ideas and undermine results. Given the problems with conventional approaches, it's not surprising that 90% of new products and services fail. Market New Products Successfully is the definitive guidebook for using simulated test marketing (STM), a technology that can help companies dramatically improve the odds of introducing a successful new product or service. The book examines why STM is important, what the differences are between the major systems, how to do a simulation, and what insights it offers a marketing plan. It is the ultimate guidebook for any smart marketer looking to improve the financial outcome of the innovation process.

Reviews

A great book! This book is accessible and will be of interest to the person wanting mostly the big picture, who will marvel at the plethora of real-world examples; the person wanting a higher level of detail, who will enjoy the history of the developmentof STM and its key differences from traditional test marketing; and finally, to the person who wants to really spend a lot of time inside the black box, who will appreciate the discussion of the inner workings of the various models. Market New Products Successfully is a must read for anyone who even nibbles in the area of marketing research, new product development, product strategy in general, or advertising and promotional strategy. -- Paul D. Berger
It's clearly written and easy to understandwithout being dumbed down. This is the best practioner book I've seen on the subject..... -- R.M. (Erik) Gordon
Kevin Clancy and his colleagues are the simulated test marketing gurus, and their book is a thorough and highly practical investigation of the topic..... -- Roland T. Rust

Author Bio

Kevin J. Clancy is Chairman and CEO of Copernicus Marketing Consulting. Peter C. Krieg is President and COO of Copernicus Marketing Consulting. Marianne McGarry Wolf is Professor of Agribusiness at California Polytechnic State University, San Luis Obispo.