New markets continued
1 Define and test your value proposition and target customer.
Your value proposition is the foundation on which you will build your business. We will thoroughly test and validate your proposition with target customers to ruthlessly evaluate its potential and see if it can be developed or improved.
What will the outcomes be from this process:
A proven and tested value proposition
2 - Is there a market for your new product?
Probably the most critical step and the security you will revert to when doubt creeps in or negative feedback is received. Both will happen regularly but you will have an armour of belief, based on solid primary market knowledge.
Meeting potential buyers is crucial. It is also a powerful way to build relationships and set up channels to market, pre sales. We can guide you through this process.
What will the outcomes be from this process:
Clearly identified market.
Potential buyers engaged.
Market channel defined.
Realistic pricing models.
3 - Product development
Product development requires multiple iterations, continual testing against the market and a ruthless focus on cost reduction, both of the process and the product.
Big Idea Consulting, have powerful experience from past mistakes and success in how to develop a new product. The decisions made at this stage on the accepted manufacturing cost are crucial to your future competitiveness.
What will the outcomes be from this process:
Cost effective product development.
Quicker time to market.
Competitiveness.
4 - Channels to market
Big Idea Consultants have strong insights and experience of how distributors operate and how to identify the most appropriate channel to market. We have direct experience of moving volume product into many international markets – scalability should be the goal.
What will the outcomes be from this process:
Distribution identified.
Margin structure outlined.
Managing the buying centre.