A potential analysis helps to understand your target group.
What we do?
A potential analysis helps understand who would be inclined to buy a product and how these target groups can be addressed.
A quantitative survey among the widest possible potential customer range determines, with which groups of persons product propositions resonate and how these persons are characterized. Potential analyses can also provide insight regarding ideal price points, and the perceived utility of product features. The resulting data allows business case modelling, and customer-centric product design.
What are typical questions?
• Is the market potential big enough for my business case?
• Through which media channels can I reach the target group
• Who are the main competitors?
• Which is the best price point?
• Which features should the product / MVP contain in order to maximize market success?
How does it help?
• Exploration and characterization of potential customer groups
• Analysis of ideal prices (e.g. Van Westendorp price sensitivity meter)
• Feature analysis (e.g. Kano analysis)
What is the requirement?
• Ideas for product / value propositions must be available and must be described or illustrated for the participants. If not, a need segmentation study is a good alternative
Key Infos
When to use?
When first value propositions are available and can be described or illustrated (e.g. with mock-ups, drafts).
Combine with
Costs for product features etc. for business case modelling.
Variants and options
Depending on the product design needs, various special methods can be used (e.g. experiments, pricing methods like van Westendorp’s price sensitivity meter, conjoint analysis, Kano analysis).
FAQ
What can be tested?
Product innovations, existing products or even the further development of products can be tested with regard to their potential.
How long does the preparation take?
Typically, it takes about 2 weeks from the time of commissioning. During this time, we work closely with you to develop the questionnaire, agree on the target group to be surveyed and check the suitability of the test material for the survey.
When should be tested?
As early as possible in the development process or before a major release.
How many people should be interviewed?
Of the narrower target group, at least 400 respondents should be planned. The total sample should be understood to be significantly larger in order to be able to calculate the potentials at different levels.
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