Simulated Test Marketing

By (author) Unknown, Unknown, Unknown

Publication date:

03 June 1998

Length of book:

306 pages

Publisher

Lexington Books

ISBN-13: 9780029055052

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.

Chapter 1 Why New Products Fail Chapter 2 Why Test Marketing Fails Chapter 3 The Origins of STM Chapter 4 How the Major STM Sytems Compare Chapter 5 Mathematical Modeling Marries STM: The Discovery and Litmus Models Chapter 6 Inputs for a Simulated Test Marketing Model Chapter 7 Diagnostic Tools to Improve a Marketing Plan Chapter 8 The First Door to Success: Forecasting Awareness Chapter 9 How to Find the Best Media Weight and Schedule Chapter 10 Measuring the Effects of DTC Campaigns Chapter 11 Toward Marketing Plan Optimization Chapter 12 From the Back of an Envelope to a Marketing Navigation Station

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.