Q: My company is about to release it’s new product. How will we know if it will be successful in the marketplace?

Tom, NY

A: The first thing to consider is the market research you did beforehand. What did it tell you? Do you have a buyer for this product? Is there demand for it? The large corporations always go through market research before they mass produce a product. Without knowing the size of your company, I don’t know how much market research you’ve completed. The best way to tell if it is successful is through your sales revenue. If it meets or exceeds your projections, then it is successful.

This entry was posted on Tuesday, August 28th, 2007 at 5:05 pm and is filed under Q & A. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.