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.

At Good Leads, we put together a proposal and recommendation that addresses the unique situation of the client, but a complete market validation contains all elements listed below. This process typically takes one month, but can vary based on the size of the market sample you want researched.

Good Leads provides ongoing updates during the course of the interviews. The final report includes all the interviews and high-level conclusions.

Market validation delivers real and timely feedback from potential buyers and markets. This type of input on the company position and product concept proves invaluable to hone go-to-market strategies and product roadmaps, as well as real market data that can be used to secure company or new product development funding. Good Leads presents all the results in a verbatim format with a roll-up summary of recommendations: