Determining Market Potential for a New Product
A large mobility technology company developed a new feature for their automotive consumers. They needed consumer data which they could use with their B2B customers to help sell the technology.
To gauge the market potential for the feature, we designed an online survey including a feature demonstration for four major markets – US, China, UK and Germany.
Surveying current consumers and future intenders, we were able to provide insights on:
Future consideration of the feature
Key likes, dislikes, and desired changes to the feature
If the feature would influence their future vehicle consideration
How much they were willing to pay for the feature
Armed with the consumer point of view, our client had the information to:
Quantify the market demand
Develop a strong marketing position
Make feature refinements to address customer concerns
Making the investment in research provided the marketing & sales team with the Unmuted Consumer Insights – demonstrating consumers’ desire and propensity for adoption of the new feature.