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Market Validation

 

MARKETING VALIDATION

Market Validation is one of the most important activities a company can do. It saves time and valuable development and marketing resources by testing a product concept, idea, position, and customer buying drivers before a product is launched or engineered. Market Validation can be done by large companies exploring a new market or product line as well as start-up companies that may be looking for funding or introducing their first product.

 

Step 1
MARKET OPPORTUNITY ASSESSMENT


Market Validation begins with an opportunity assessment to survey the market. After understanding the market conditions, our trend analysis guides the accurate identification of highly targeted growth opportunities, providing you with a solid foundation, about whether there is likely to be a ready market for your offering. The opportunity assessment identifies unmet or underserved customer needs, scopes out the competitive environment, and gauges the size of the market opportunity.

Step 2
MARKET SEGMENTATION & TARGET IDENTIFICATION


Once you have identified the growth opportunities, teleCAT conducts a quantitative market study to segment the market and reveal the best prospects. Finally, competitive awareness, perceived strengths and weaknesses can also be assessed.

Step 3
MARKET NEEDS ANALYSIS


When you have been able to gain accurate information about "what" the market wants, the final step is to understand "why" they want it. teleCAT designs and conducts qualitative market research. This research also reveals differences in needs across corporate role groups, helping you to target the right individuals according to their business pains. The needs analysis also can be used to reveal important market expectations regarding pricing and pricing structure as well as identify optimal sales channels.

Step 4
MARKET VALIDATION RESULTS


After performing the needs analysis, teleCAT conducts the market validation results. Market validation results allows the company to be able to achieve funding, bring products to market, obtain investment resources, decide on product priorities, and sales leads. Valuable insights are realized, that enable a company to better define a unique position and test buyer requirements and reaction -- before a product is built and introduced.

 
 
 

 

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