Question

Topic: Strategy

Estimating Demand For New Product

Posted by Anonymous on 1/11/2010 at 9:23 AM ET 250 Points
Hi,

Any clue how can one estimate the demand for a new product. Also, any ideas how can demand curve be plotted for such products which are yet to be launched..

-Rajat
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RESPONSES

  • Posted by CarolBlaha on 1/11/2010 at 9:30 AM Accepted
    I always start with the BPI, Buying Power Index. You usually have to pay for this info, but you can get it broken down by industry.
    https://www.allbusiness.com/glossaries/buying-power-index-bpi/4966081-1.htm...
  • Posted on 1/11/2010 at 9:31 AM Accepted
    It depends on what the product is and how close it is to other products it might replace.

    There are also market research techniques that can help ... again depending on the product and the target audience. You might start by interviewing a few individuals in your target market to see what they're using now, how they might respond to a solution like yours, etc.
  • Posted on 1/11/2010 at 9:38 AM Author
    @CarolBlaha - thanks
    @mgoodman - The industry is something like video games or rather next generation of video games. You mentioned market research.. can you please explain a little more?

    Original Message:
    Hi,

    Any clue how can one estimate the demand for a new product. Also, any ideas how can demand curve be plotted for such products which are yet to be launched..

    -Rajat
  • Posted on 1/11/2010 at 9:40 AM Author
    Sorry for multiple mails.. in case there is a closed error please mail response to rajat2000@gmail.com

    Thanks!
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