Market Potential Assessment
Does your product have a chance to break into the market?
It depends on a host of factors that do not all have the same weight. One thing is for sure : your business plan can not do without a rigorous assessment of market potential. The rest is up to you.
All successful products started out with a good potential. But what is a good potential exactly? Market potential is a somewhat abstract concept with a certain amount of uncertainty. SOM experts can help you confirm your intuitions by injecting a dose of objectivity into the process.
The choice between the choice between several concepts of products or services requires a rigorous evaluation of the market potential of each. If there is no market for a product, it is better not to invest thousands of dollars in the adventure. On the contrary, if there is an interesting potential, then maybe it's worth extending a few more dollars.
Market potential assessments are essentially focused on estimating sales and profitability. The kind of study that should be entrusted to seasoned marketing experts with a knack for number crunching. Its results will help you determine whether you should step on the brakes or rather move up a gear.
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