Test the Product

Prototype
 Learning Objectives

• 1. Validate the description of the product

• 2. Determine marketability of the product
• 3. Select potential suppliers of raw materials
needed for production
WHAT DO YOU MEAN BY…

PROTOTYPE
 PROTOTYPE
• a functional, not final version of a product or service that
businesses can use for testing, to solicit feedback, and to
introduce to investors before officially launching to a wider
market
• A replica of a product as it will be manufactured, which may
include such details as color, graphics, packaging and
instructions
 How to Test Product a Prototype?

1.Features 8. Financing
2. Price 9. Customer service
3.Time 10. Reputation
4. Ease of transport 11. Knowledge
5. Availability 12. Experience
6. Cutting edge/new 13. Fast delivery
7. Training and support 14.Endorsements
 1. Features.

• If your product is
faster, bigger or
smaller, or comes
in more powerful
selling strength.
 2. Price

• Everybody wants to
pay less for a
product.
 2. Price

• Conversely, high-
priced products may
appeal to many markets
for their better-quality,
high-end value.
 2. Price

• Price is also
dependent on
other issues such
as service
 3. Time savings
• People buy products to help
them expedite a process. If
yours is faster and can help
them get out of the office and
on their way home more
quickly, they want it
 4. Ease of transport.

• People are using their

mobile phones to go
online like apps and
gadgets that are
portable
 5. Availability
• Typically, the more easily
accessible your products are, the
better it is for business. In most
cases, you want to have products
and services that people can get
quickly. For service providers,
availability means a good location
or locations that are easy to get to.
 6. Cutting edge/new.

• If you have something

to offer that's not on
the market, this is a
major selling point or
competitive edge.
 6. Cutting edge/new.

• If you have something

to offer that's not on
the market, this is a
major selling point or
competitive edge.
 7. Training and support.

• These are components of

service that have become
increasingly important in
providing training for the
staff and employees.
 8. Financing

• Refers to finance
capability of
producing a product or
services including all
the necessary costs
 9. Customer service.
• Excellent service is perhaps
the most important thing you
can add to any product or
service in a world where
word travels fast through
social media
 10. Reputation

• A well-developed
reputation can
literally keep you in
business over times
 10. Reputation

• A well-developed
reputation can
literally keep you in
business over times
 11. Knowledge.

• Your knowledge and

the means you have of
imparting that to
customers is an
important part of your
total offering.
 11. Knowledge.

• Retailers of auto parts

basically has the
knowledge about
automotive services,
bakeshop owner perhaps
the knowledge about
making bread and etc.
 12. Experience.
• An ample experience makes
it part of your selling
proposition. But for
beginners, it is a challenge to
test the business prototype.
At first, it is normal to have a
break-even profit
 13. Fast delivery.
• Nobody wants to wait for
anything anymore. If you can
offer overnight shipping, on-
site service or 24/7
availability, can turn an
otherwise unremarkable
product or service into a very
attractive one
 14. Endorsements.

• Has something to do
your marketing
strategy to make your
product known. Social
media is an easy way
to advertise.
 14. Endorsements.

• Has something to do
your marketing
strategy to make your
product known. Social
media is an easy way
to advertise.
 HOW TO VALIDATE A PRODUCT
DESCRIPTION?

• 1. SURVEY
• 2. PRODUCT TEST
• 3. SPECIAL PRICE OFFER
 1. SURVEY

• a survey form may be

made and send it out to
your prospect clients,
so you know exactly
how to serve them
 2. PRODUCT TEST

• Test the product to

get a testimonial
feedback to the
prospect client
 3. SPECIAL PRICE OFFER

• sometimes people
who express
interests in the
product would want
to know the price
 HOW TO EVALUATE THE
MARKETABILITY OF THE PRODUCT?
1. Who will buy this product or service?
2. How much does the product or service
cost?
 The product or service should…

• be able to fulfill the

consumer's needs or
desires; be manufactured
and sold for the right
price that is profitable;
have an established
market opportunity
 The product or service should…

• pass safety,
environmental, legal
and performance
expectations and
standards.
 The product or service should…

• pass safety,
environmental, legal
and performance
expectations and
standards.
 How to Select Potential Suppliers?

• 1. RELIABILITY
• 2. QUALITY
• 3. PRICE
• 4. SERVICES
 1. Reliability

• refers to the
suppliers’ capability
to be dependable
with good reputation
in business
 2. Quality

• refers to the consistency,

durability and high
caliber of product or
services with
international standard
certification
 3. PRICE

• refers to the effective

cost to a certain
product or services
without compromising
the quality and
reliability
 4. SERVICES

• are partnership approach

that will build a
relationship with the
customers showing how
important your client is,
by providing quality
service.
 HOW TO HANDLE POTENTIAL
SUPPLIERS:
2. ASK FRIENDS AND BUSINESS
1. RECOMMENDATIONS ORGANIZATIONS
 HOW TO HANDLE POTENTIAL
SUPPLIERS:
4. TRADE
3. DIRECTORIES ASSOCIATIONS/ORGANIZATIONS
 HOW TO HANDLE POTENTIAL
SUPPLIERS:
5. BUSINESS ADVISERS 6. LOCAL BUSINESS ORGANIZATIONS
 HOW TO HANDLE POTENTIAL
SUPPLIERS:
7. BUSINESS EXHIBITS 8. TRADE FAIR/PRESS
 HOW TO HANDLE POTENTIAL
SUPPLIERS:
9. TRADE MAGAZINES/ ADS 10. INTERNET/ON-LINE SOURCE
 Activity 2.

• Conduct a Product or Service testing

using the sample template below. (use
the product description you used in
Week I - Activity 2.)