Market Testing

Market testing in product innovation management involves evaluating a new product by introducing it to a small segment of the target market before a full launch. This process helps businesses gather feedback on aspects like design, pricing, and consumer interest. By analyzing this data, companies can identify potential issues, refine their products, and increase the chances of success when the product is released to a broader audience. Essentially, it's a trial run to ensure that the product meets customer needs and expectations.