A business manager has an idea for a new product they feel will be highly profitable to the business. How can the product idea be validated in the market before developing the product?
A.
Perform a SWOT analysis to compare it with competing products.
B.
Review similar products in the market for gap analysis.
C.
Launch a prototype to get customer feedback.
D.
Present the idea to a focus group for feedback.
Why the other options are less effective for market validation:
A. Perform a SWOT analysis
Useful for strategic planning, but it's internal and theoretical — doesn’t test the product in the real market.
B. Review similar products for gap analysis
Helps identify market opportunities, but it’s still indirect and doesn’t validate customer demand for your specific idea.
D. Present the idea to a focus group
Offers early-stage qualitative feedback, but it’s based on opinions, not actual product use or behavior.
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JesseChou_123
1 month ago