[ sizing potential market for new product
key q's before we build new product: – is there a market for this product at all? – how do we test market in short time & low expenses? – how can we get reliable data? . old approach: traditional #marketingresearch –> we presented product idea to audience –> collected opinions –> proceeded accordingly. (!) but people are weak at predicting whether they'd like/buy something they haven't yet experienced, or how often they'd use it if they'd buy/use it at all. thus, even if new product was competently built and launched, it could fail in the marketplace. . new approach: #pretotyping experiment –> we go from product idea –> to a set of testable assumptions –> to an experiment with #pretotype artifact to call target audience to actions –> and collect data. (!) by pretotyping we test customers' real behavior, not imaginary, to get more reliable market data in a matter of few hours/days and inexpensively. . pretotyping technique is greatly described in "The Right It" by Alberto Savoia
