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market validation

For Companies: Validate the company and product position in priority target markets

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.

This is an in depth and intense process that involves determining a position, priority market/buyer segments to test, creating a database of target customers, and contacting high level decision makers for a one-on-one interview. The results provide valuable insights that enable a company to better define a unique position and test buyer requirements and reaction -- before a product is built and introduced.

Market validation is usually done along with a marketing strategy, to take the client through market and position development.

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