A concept test for your food start-up
A concept test will give you a good idea of the potential of your food start-up. You will learn who would want to buy your product and why. By listening to your future target audience you can innovate faster and with less risk. And to pay for the investment, subsidies are available!
Most start-ups have a brilliant idea that will be immensely successful and change the world. Most food start-ups have developed a product that is extremely tasty, sustainable and healthy and consumers can’t wait until it’s available in their favourite store. This is confirmed by the entrepreneurs’ friends and family who give their unconditional support. Yet many start-ups don’t become as succesful as imagined at their conception. Why? Because they solve a non-existing problem. Or solve an existing problem in a way that is no better than solutions already on the market. A tough and expensive lesson to learn, but also an avoidable lesson.
This would definitely help you developing the right product and tell the right message. And increase your chance of success. OR instead of learning the hard way, you would be able to tell that your idea might not be as successful as you thought it would be.
And think about investors. They will direct their money towards the start-ups that will be most likely to succeed. The first answer any investor is going to ask is: who is going to buy this? Immediately followed by: and why? What if you can provide them with a clear and well substantiated answer to these questions?
A concept test is proven way to achieve this. This is what market research agencies and large brands have been doing for years. But start-ups often seem to think it’s not achievable for them or maybe overlook the possibility.
What is boils down to it that you describe your idea (in words and maybe a few illustrations) and ask consumers for feedback on your idea in a structured way. This feedback is then used to determine the potential of your idea and to understand why your idea is liked or disliked. Additional elements of the marketing mix can be included in the study, such as packaging, price and flavours. And this understanding is then used to shape the marketing strategy before going to market. Any questions or unclarities that consumers see will be identified and also an idea if with what kinds of products your idea will compete.
There are 2 important conditions to do this properly:
Here are some examples of crucial findings that changed the way these start-ups entered the market, after learning from their target users:
Concept tests can be run about products, services and apps.
What specific things can you learn through concept testing?
As an entrepreneur or innovation manager, you are looking for an unfulfilled need for which you are developing a superior solution. You are working on a product or service that meets or even surpasses expectations. On top of that, you will need to bring across your message in a impactful way. Your target audience can help you with these important tasks!
Through concept testing, you can:
But this must be expensive, you may think. But we believe that failing to address the real consumer needs is expensive. Since we know start-ups have limited budgets, we have developed a budget friendly option. Our Food Forum community consists of conscious consumers, who are willing to give their unvarnished opinion. For as much as €2,000.00 we can run a professional study among the members of our community, delivering an enormous amount of insights and value.
Bonus: a concept test usually qualifies as a feasibility study, which is often eligible for subsidies or grants (such as the Dutch MIT subsidy). On the 4th of april a new round of funds will be available!
If you want to know more about concept testing capaibilites, click the download button below to see how we do it. Or read our concise description about concept testing.
We help sustainable food companies to innovate faster and communicate with more impact. We do this by offering accessible and crystal clear consumer insights.
The Hague Tech - Wilhelmina van Pruisenweg 35 - 2595AN - The Hague
(+31) (0)70 2042314 - Info@futureoffood.institute
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