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The Advantages of Test Marketing

Even after you’ve finished your prototype, it still may not be enough to convince a company that your product will be a smash hit in the marketplace. You may also have to satisfy a company of your invention’s potential by test-marketing the product yourself. Companies will want you to prove that there’s a high demand for your product—and, therefore, that it will sell. Before buying into your product, a company will consider two things: Will the world be the richer for this product, or will the company be the poorer? The aim of your test marketing is to prompt a tentative “yes” to the first question...