Building the Business Case for a New Product Launch

Market Value for a New Product

Is there value for a new commercial protective garment in clean rooms?

Our client needed to determine the value the market had for a new, more comfortable protective garment and the necessary requirements to establish market demand and successful introduction of the new product. The client also needed a definition of what the business needed to do to rapidly enter this market.

The Breakthrough Solution

Our Tool: Breakthrough Toolkit™
Our Approach:
What We Did:
Growth Strategy

We surveyed the market to obtain a broad set of learnings on both the value for the business concept and how to go to market. Not only were the 4 marketing Ps generated from the voice of the customer, but also their interrelationship was quantified. From our findings, we were able to derive

  • Relative started importance of key product and company performance criteria
  • Current competitive performance of existing players relative to these criteria
  • Derived importance of these characteristics based on the market’s response to key drivers
  • Price the market is willing to pay for the new product concept
  • Value for each performance improvement included in the concept
  • Demand and price for the new product within an established competitive set
  • How the market segments itself on performance features and importance characteristics
  • How to position this new product against established portfolio products
  • Overall market demand and route to market requirements

Based on a market-derived business plan, the client obtained the go-ahead to process to launch in their stage gate review. They have also incorporated the Breakthrough Toolkit into their best practice for new business development.

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