Assessing the Market: Is it Big Enough & How Much Can I Get, How Fast – Customer Challenges
How large is the market opportunity for this new product?
Is the potential large enough to meet your objectives? Will it grow fast enough? What could impact market growth?
Knowing both the size of the potential market and how fast it will grow are win-lose issues for new product marketer. These determine the scale of investments you have to make to be successful and the justification to make these investments.
Case Study: Heat Pumps
/0 Comments/in Case Studies /by grahamoWorking for the Electric Power Research Institute, we conducted primary market research to identify the performance benefits of heat pumps among consumers who had used both heat pumps and gas heat.