In these challenging times, it’s more important than ever to get the right information, interpret how it will impact your market, and take action. Why not use current published best practice from local or overseas businesses or your competitors, and exploit these insights to recover and grow?

I produce company profiles, competitive analysis, trend tracking, and market intelligence reports that are customised for your needs only.

Here is an example of what a client of mine knew after a market analysis for his product:

The client should narrow down who their target user is by age. In this particular market, the type of device and app is determined by human developmental needs and safety issues, so targeted functionality is key. It also needs to survive the “coolness” test for the users and purchasers – it must look trendy but fit for purpose.

The overseas market leader is taking steps to dictate what the materials and safety standards of these devices is going to be. This is a really smart move by this competitor – they are driving this important concern of purchasers, plus setting the standard. This gives them a lead time over others in the market, as well as positioning them as the device of choice over time, and encouraging brand recognition and repeat purchasing.

Crowdfunding for these devices is the primary source of money for product development and marketing overseas, with the funds raised ranging from US$300,000 to US$1.2 million. This gave my clients an indication of what is likely to be needed to get their product off the ground here in New Zealand.

The initial shipments of novel competitor products have sold out, and the companies concerned are taking names for a waiting list for new shipments. There’s also a lot of chatter on social media about how wonderful these products are by those who already have a device. This indicates to my client that there is demand for this product and the type of functionality it offers, for a premium price.

If you need to know more about how to position a product or service, then I can help you be more attuned to the market and meet consumer needs better. Call me now – 027 4393795.