The product team at DreamBig was totally pumped ... Dan had developed a radically new approach and everyone recognized it as a game changer. After the initial euphoria subsided, there were more questions than answers: how long would it take for consumers to adopt and embrace the product, how disruptive would it be (really), how much would people be willing to pay and how many units would the average consumer buy in the first year of production?
Dan knew what to do. He would ask Ypulse to reach out to consumers within the marketplace for detailed feedback on the product's potential: how many, how much and how often. Based on estimates on the pace of adoption across a number of potential markets, DreamBig could show their investors, partners and distributors the market potential of their new product, justifying the future investments required for product naming and pricing research as well as a budget for their go to market strategy.
Sometimes your target market can surprise you, imagining use cases that you had never considered. Product designers, managers, marketers and investors can often live in a tiny bubble that underestimates or overestimates what ordinary consumers can see more clearly. While Dan had always considered himself the sharpest knife in the drawer, he was humbled by the wisdom of the masses, yet amply rewarded as a result. The product flourished in ways that were unanticipated, enabling DreamBig to dream even bigger.
The least you need to know about what's happening in the new Millennial influenced world.
It's not enough to know what. You need to know who and how much. And most of all, why.
Now, what does it all mean for your brand?