Business idea testing
Don’t reinvent the wheel
So you think you have a fantastic business idea, family and friends think they are great and you are ready to begin the development and launch processes! However, before you invest your money and time, try to answer these questions:
- What is the probability that the idea will succeed?
- Have you measured the demand of your products and services? Are there enough unmet needs that would convert your idea to high and profitable sales?
- How much value will your value propositions create?
- What are the preferences of your potential customers?
- How can responses of thousands of potential customers help you to develop or improve your concepts in a way that differentiates your product, service and communications from your competitors?
- What is the competitive landscape of your product/ service offering?
- What is the best pricing model to use?
If you can’t confidently answer all of these questions, don’t fret. We can help you provide answers to these questions.
- We would also interact with the potential customers in your target market through market surveys, in-depth interviews, focus groups etc. in order to have a very clear understanding of their needs. By discovering facts and not using assumptions, we would be able to identify how the real needs of your customers can be converted into opportunities and revenue for you.
- We would also examine the appeal and perception of all the elements of your idea to the target market; enabling us to identify the strength and weakness of your value propositions. This will enable us to identify and help you implement steps that can increase customer satisfaction.
- We can also design custom testing plans to suit your needs.