Examining the Role of Data in Guiding Marketing Managers to Make Informed Decisions

Working the Net–Stories

This week’s task for your journal involves conducting a more thorough investigation of cities/markets that serve as testing grounds for products and other marketing elements. According to research, around 30,000 new products are launched each year, but an astonishing 95% fail.

Product testing provides your target market with various options and requests their opinions on each one. Through product testing, you can analyze metrics such as the intention to purchase, quality, and value to determine which product ideas are most favored by customers.

Instructions:

1. 1. Read the article “Best U.S. Microcosm Cities to Test Market a National Product.”
   2. Review the article on metro areas that resemble the most and the least the U.S.
   3. Answer the following questions:
      1. What observations can you make about the geographic distribution from the articles?
      2. If you were to test a new accessory for jet skis or mountain bikes (choose one), which markets would you choose, and why?
      3. Why is product testing vital for a thriving product launch and market research?