Analyze the Depth of your Market!

by Ashwin on September 28, 2010

in Piloting,Sell Stuff,Start Selling

In my previous post, I emphasized the importance of analyzing a Market, before creating your Product.

But sometimes it is not possible, to completely analyze the Depth of your Market, beforehand.

So what should you do then?  Here is the secret…

The Only Available fool-proof way to analyze the Depth of your Market is…

Piloting your Product

In short, Piloting is nothing but – Creating a Shorter or abridged version of your Product

Few things to keep in mind while piloting your Product are:

  • Keep the Costs to a minimum
  • Piloting must target the real Product Market (not a simulated one)
  • Real Customers must be involved in the Pilot
  • You should be able to easily Scale up or Shut down based on the results of the Pilot
  • Time to Market is very Crucial.  Your Pilot must be in the Market as early as possible!

In the coming weeks, I am running a Post Series on getting your Pilot Product out – in the shortest time and at lowest cost! Stay tuned.

Photo Credit: lan Sane

{ 2 comments… read them below or add one }

Steven H September 29, 2010 at 1:54 am

Great strategy. I bet a lot of the best marketers do pilot studies and little experiments to “test the water,” and see what works and what doesn’t. A big part of the creative process is trial-and-error, only once you find the right idea do you blow it up on a grander scale.

Nice post!


Ashwin September 29, 2010 at 5:40 am

Thanks Steven. You are absolutely right. I am preparing a Post Series on strategies and tips for Web Product Creators to do pilot studies – with lower cost and faster turnaround times. Keep watching this space for updates! Have a good day


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