company’s products or services with customer requirements, and leveraging a
company’s unique value proposition is at the core of marketing and
positioning. Whether a company needs to measure the performance of its
existing products or services, or to determine the business potential of
new markets or products, a systematic and objective
approach to analyzing the target market is essential.
Too often critical
decisions are made based on outdated or insufficient market data, “gut
feel,” or from a biased internal perspective. Applying insights from the marketplace improves a company’s likelihood of success
and long-term growth potential.
identifying customers who are experiencing significant “pain” and
are most likely to spend money on an unproven solution or vendor to address
these issues can have a huge impact on generating revenues, finding
beta accounts, or securing venture funding. Feedback from these early
adopters can also be useful in focusing product development efforts on the
“must have” functionality rather than the “nice to have” features.
companies, understanding product position and relevance in the marketplace
is the critical baseline from which strategic plans and market penetration tactics can be
developed and executed.
SMG's Experience with Market Validation
Group has undertaken hundreds of projects designed to help clients
better align products and services with their target markets. We apply a unique
combination of market research and analysis to address the
various product (see Technology Experience) and market (see
Experience) challenges faced by our clients.
We bring objectivity, anonymity, and intellectual honesty to the process of assessing markets. Our methodologies, timelines, and deliverables are tailored to meet the unique requirements of each client. Additionally, SMG frequently works in tandem with client team members, enabling them to hear the “voice of the market” firsthand.
Examples of our
Product and Market Assessment experience include: