How to use market intelligence for your product launch

Image for post
Image for post

This article is called how to use market intelligence for your product launch. It’s not easy to successfully launch a new product in any market. For very highly competitive arenas, like cleaning products or magazine, the success rate can be as low as 15% — and these companies tend to have significant resources behind them. Even then over half also report going over their launch budget. New and smaller companies need to be smarter to stand a chance of success and making sure you have the right market intelligence.

Market Intelligence

The best way to get a return is to make sure you have researched your potential target audience to ensure you make smart marketing decisions. But what sort of Market Intelligence is suitable for your needs?

Know your customers’ problems?

Could you keep it simple?

What else is out there?

Where do they live?

If online, go more in-depth and look at the search terms and keywords they will use to find your product. Is your product able to be promoted on YouTube? If so, YouTube is comparably cheap, and popularity is growing significantly.

What do they read and watch?

  • What magazines
  • Newspapers do they read
  • Industry-specific trade publications

Conclusion

About Octopus Intelligence

Follow us on Twitter/octopusintell and Linkedin

And, get in touch with Octopus via our contact us page.

Written by

We help you beat your competitors, increase revenue, protect equity investments, reduce uncertainty and risk with Competitive Intelligence & Due Diligence

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store