If people aren’t looking for a solution, that’s a red flag. Read competitor reviews
Posted: Sat Dec 28, 2024 4:50 am
If the product category already exists, look at online reviews of competing products, focusing on the bad reviews. What do customers say is missing? What don’t they like about your competitors’ products? What else would they like it to do? Consult customer-facing employees: If you have an existing company in the space, ask your sales team what customers are requesting. Likewise, ask customer service representatives what customers wish for and complain about.
Get consumer feedback: Ask current customers what their needs are and how they feel about the proposed new product and its features. Online and email customer questionnaires are an excellent way to gat list of lebanon cell phone numbers her valuable marketing survey data and gain insight into what customers want and need. FYI Among failed startups, more than a third (35 percent) didn't make it because there was no market need or target audience for their product or service, according to CB Insights.
2. You haven’t researched the competition enough. Maybe there’s a need in the market, but someone else is already fulfilling it and there’s no space for you. While some markets have room for competition and many products add a new twist to an existing concept, some markets are too small. Your product may not be substantially different or better than established competitive products. For example, when Amazon launched its Kindle e-reader device, it threw its substantial resources and marketing platform behind the product and established a strong presence in the market.
Get consumer feedback: Ask current customers what their needs are and how they feel about the proposed new product and its features. Online and email customer questionnaires are an excellent way to gat list of lebanon cell phone numbers her valuable marketing survey data and gain insight into what customers want and need. FYI Among failed startups, more than a third (35 percent) didn't make it because there was no market need or target audience for their product or service, according to CB Insights.
2. You haven’t researched the competition enough. Maybe there’s a need in the market, but someone else is already fulfilling it and there’s no space for you. While some markets have room for competition and many products add a new twist to an existing concept, some markets are too small. Your product may not be substantially different or better than established competitive products. For example, when Amazon launched its Kindle e-reader device, it threw its substantial resources and marketing platform behind the product and established a strong presence in the market.