How to determine the demand for the product

Guide the initial testing of the product. To do this, hand out prototypes of your dealers, potential customers, or take part in the specialized exhibition. Summarize the data, analyze the pros and cons, it will be useful in the further development of the product before commencing production.

If your product is for mass consumption, conduct customer satisfaction surveys. Use questionnaires that distribute to places of possible realization of this kind of goods. Compose the questions so that the responses can be to know whatever the buyer wanted to see this product, what features the product should have, and how much it should cost. The more consumer needs relative to this product you discover, the more opportunities you will have to produce quality and highly consumed product.

Analyze market and consumer demand. For that explore similar products of competitors, and then compare data about the demand for their product. It will give you new ideas for improving their product and will help you learn about the General trends in the development of this market. Besides, you will avoid repetitions of already existing and embodied ideas.

Define the target market. It should be maximally specialized, i.e., when analyzing the possible demand for your product you should focus on a specific audience. For example, the study of the demand for their goods from the category of spare parts for cars it is pointless to spend in grocery stores, etc. in order to understand the situation "inside", put yourself in the buyer's shoes and look at your product through his eyes. What is the attraction that is brand new and is optimal if the ratio of price and quality.