Costs and Benefits of Pilot Testing for Product Development

• by Cheryl Frankiewicz and Corrinne Ngurukie
• Sep 10, 2008
• 1 min
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This briefing note emphasises on pilot testing as an important component of a new product development process which in turn helps institutions to become more viable and profitable.

This briefing note emphasises on pilot testing as an important component of a new product development process which in turn helps institutions to become more viable and profitable. It explores lessons on the costs incurred, the benefits received and also draws experience from the MFIs that implemented the pilot testing process. It explains various costs—financial, non financial, psychological and reputation costs—associated with pilot tests. It also highlights the costs of failure and concludes with suggestions on lowering the costs of pilot testing.