Buyer behaviour and new product development
In this paper I discuss how this traditional process can be fruitfully reversed. We assume some target market share, and use our knowledge of the existing market to predict the new brand's penetration and repeat rates, share of requirements, competitive positioning, retail uptake and image, for when the brand has settled down to be part of the established market with the assumed share. We can then use these predictions to evaluate our new brand concepts, promotional planning, pre-test and test market results, and indeed the assumed assumed market share itself. All this is complementary to the traditional approach and mostly very cheap.
- This could also be of interest