Your products or services offered (henceforth referred to as “product”) are scanned deeply in regard to market success.
Product Scan is employed when you need to answer any of the following questions:
How do you optimize your product to make it (more) interesting to your customers (again)? How important is each product feature? Which feature is the most important one – which is least important? Are you going to get a return on investment (your development costs)?
What specifications does your new product need in order to be successful against your competition?
What are customers willing to pay (more) for a certain feature? How much are the different features “worth”?
When do development costs pay off?
Is your product too expensive – or is your offer too low?
Are you losing money due to poor sales volume or because you are selling to low?
How would changes to a product affect its market share? What kind of market share will your new product realize? From which competitor can you gain customers – which competitors may you be losing customers to? Are there cannibalizing effects on your own brand(s)? Who wins – and who loses?