New Product Market Evaluation
Predicting the fate of new products is notoriously difficult because by definition, a new product is different from anything currently available and its success depends as much, or more, on how the new product is marketed as it does upon its inherent value. As a result of its work in simulation modeling, Carey Fawcett has developed proprietary techniques for assessing the potential of new products and developing appropriate strategies to introduce them to the market.
These techniques can be used very early in the development process and can therefore be applied to choosing which new products to develop at the research and development stage, thereby providing clear direction to the R&D effort.
The output from a new product or service assessment will typically identify the best target market segments, the rate of penetration that can be expected, the future share of market, the appropriate marketing and sales strategy and the expected profitability of the new product.
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