Testing Your Product and Getting Feedback
Lesson:
Now that your mock-up business or product is more clear and you’ve worked on it for 26 weeks, it’s time to get another round of feedback. This time more precisely. Watch the video below to learn all about figuring out if an idea is as good as we think it is. By talking to our customers about what they like, dislike, want, or need, and we want honest feedback about our product or service.
Crash Course Business Entrepreneurship
Project Description
Amazon Product Review Analysis. This activity allows you to practice basic statistics skills by analyzing real-world data and provides insight into the importance of feedback in evaluating products.
Instructions
- Choose a Product: Select two everyday product such as an e-bike or an air-fryer to analyze the reviews on Amazon.com. Do not choose products that have 5 star reviews, choose product that are between 3-4 stars.
- Gather Reviews: Go to the Amazon product page for the selected product and collect the random 15 reviews. Read each review carefully and categorize them as great, bad, or neutral based on the overall tone of the review.
- Calculate Percentages: Calculate the percentage of great, bad, and neutral reviews out of the total 15 reviews. For example, if 8 reviews are good, 4 are bad, and 3 are neutral, the percentages would be:
Great: (8 / 15) * 100 = 53.3%
Bad: (4 / 15) * 100 = 26.7%
Neutral: (3 / 15) * 100 = 20.0%
- Reflect on the Results: Reflect on the percentages you calculated. What do they tell you about the overall feedback for the product? How might this information be useful for the business owner to use to better their products?
- Discuss Findings: Discuss your findings with a friend, family member, or teacher. Share your analysis and discuss the importance of feedback in making informed decisions about products.