When you’ve got an exciting new product idea, it can be hard to know if it’s ‘a go-er’ or not. Is there a market for it? Will the commercials stack up? What will consumers think about it? Does it fit in an existing category?
Whether you’re a start-up or an established business, it makes sense to gather some evidence that your idea’s worth progressing, whether it’s an entirely new idea or a range extension.
- Is there room in the category?
- What are the relevant trends, and does it align?
- Would consumers and retailers be interested?
- What’s the landscape in terms of pricing?
- Do the costs and margins stack up?