Market New Products Successfully: Using Simulated Test Market Technology

Market New Products Successfully: Using Simulated Test Market Technology

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Overview

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.

Product Details

ISBN-13: 9780739111796
Publisher: Lexington Books
Publication date: 02/02/2006
Edition description: New Edition
Pages: 368
Product dimensions: 6.92(w) x 9.22(h) x 0.90(d)

About the Author

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.

Table of Contents

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

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