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How Do You Determine That A New & Uncommon Idea Will Succeed In The Market? - Business - Nairaland

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How Do You Determine That A New & Uncommon Idea Will Succeed In The Market? by Uchek(m): 12:08am On Apr 02, 2009
How Do You Determine That A New & Uncommon Idea Will Succeed In The Market?

Is it by accepting the well-meaning advice of people that the idea may not succeed because it has never being tried or that it goes against the traditional way of doing things before now?

Or is it to ignore all advice and implement the idea because the marketplace - wisdom of effective consumers - is the best determinant of the true worth of an idea.

Your candid thoughts - if possible with examples - are welcomed
Re: How Do You Determine That A New & Uncommon Idea Will Succeed In The Market? by Seun(m): 2:54pm On Apr 02, 2009
- Put yourself in their shoes. How much would you pay for the service?
- Interview your potential customers. Find out what they think about the idea.
- Try out the idea on a small scale. If it works for 10 people, it will work for 10 million!
Re: How Do You Determine That A New & Uncommon Idea Will Succeed In The Market? by steadycash: 6:48pm On Apr 05, 2009
i love that reply and i hope that is a good reply for you.
but for me what i will advice you to do is to try to market what your product or services will be by giving your prospect a newsletter about the services or product you want to give them by doing that i hope you will get more customer and they will like to no more about your services or product
Re: How Do You Determine That A New & Uncommon Idea Will Succeed In The Market? by naijacutee(f): 11:58am On Apr 06, 2009
Seun has said it all in a nutshell. You wouldn't ever know if something would be viable if you don't test it. You might be able to draw on the wisdom of people who have been there before (Maybe the same concept, different product.) Find out if people have tried similar concepts before, if they have failed, and why.

Also, like Seun said ask potential your potential customers questions to guage the acceptability of the products/services. Will they but it? If so, how much would they pay? Would you pay the same price if you were in their shoes?
Re: How Do You Determine That A New & Uncommon Idea Will Succeed In The Market? by Kaestro(m): 1:13pm On Apr 07, 2009
When your potential customers are able to identify their need for your product/service and positively seek this need satisfied.Though an unconventional product/service incurs a larger risk of failure if not properly executed but hey,this applies to common ones too. You'll see the green light if after consulting (trustworthy) people in similar fields they are drawn to the imagination of the concept and if your target market is highly responsive about the idea.Essentially,when you get more approval than rejection your chances are greater.

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