Market Research-New Product

What to Know before thinking

about a New Product ?
QUESTION 1
 What is the precise market / segment of
the market in which the new product
promises the greatest benefit to the
users?
QUESTION 2
 How much effort will be needed to
generate an acceptable revenue and
how much will it cost?
QUESTION 3
 How much new investment must
customer make in order to use the new
product?
QUESTION 4
 How much change must the customer
make in their present set up,
techniques & routines to use the new
product?
QUESTION 5
 How your customer will get the required
technical & application skills needed to
use the product?
QUESTION 6
 How many people in the customer’s
firm must be convinced before a sale
can take place and how hard are they
to reach?
QUESTION 7
 How solid are the relations between a
typical customer and its regular
supplier?
QUESTION 8
 What buying motivation can we offer
the customers?---reduction in cost,
increased attractiveness & volume of
end product, possible increase in profit
or possible increase in the price of end
product for your customer.
QUESTION 9
 What are the Risks associated with the
product for the customer?
QUESTION 10
 How fast the information provided by us
can flow inside a typical customer firm?
QUESTION 11
 Are there any built in road blocks to
try/adopt a new product ?