CONCEPT & PRODUCT TESTS
The product life cycle is a series of steps that a product goes through during its lifetime. During the six phases, there are different needs for decision support and marketing efforts. When it comes to concept tests, they are mainly associated with consumer surveys that are initially conducted during the first phase, where the product idea is to be developed into a product or service. But it can also be about testing a fully developed product that is introduced in a new market or changing a product that has reached the “stagnation” or “decline” phase.