Determining the market potential of an innovative consumer product in several target countries

The market launch of innovative new products often involves a great deal of uncertainty. In order to successfully manage its product launch, a leading global consumer electronics manufacturer faced the challenge of knowing the market potential of a new and innovative product. To make the situation even more complex, the product was to be launched in different countries around the world. The company needed well-founded assessments of the market potential in the respective countries to be able to identify and target specific core markets.

What is the market potential of an innovative electronic entertainment product in different core markets?

Our Solution

Statista has developed a project approach that combines various research and data collection methods. In order to create a data substructure, secondary research was conducted, with the aim to aggregate existing data on consumers, similar products, and other information. In addition to this secondary research, a quantitative consumer survey was carried out in Europe, Asia, and North America to determine consumer preferences and behavior as well as their willingness to pay. The data collection was complemented by qualitative focus groups to identify consumer attitudes directly related to the product. In sum, the secondary and primary data collections formed the basis for the statistical market model. With this model, well-founded and robust forecasts as to the market potential in the respective countries could be produced.

  • Combination of different methods
  • Consumer survey in 3 continents
  • Focus groups
  • Statistical market and forecast model
Customer Results

The results of the project were presented and discussed in an on-site presentation. In addition, all project results, including the results of the consumer surveys and focus groups, were processed for the exclusive use of the client. The market model created and the information determined with it, such as market potential forecasts per target country, were shared with the customer. For the sake of comprehensibility, the underlying sources and qualified assumptions were documented transparently and passed on to the client.

  • Robust model to determine current and future market potential
  • Selection of the relevant target markets on the basis of our market model
  • Successful product launch in all selected countries
  • Presentation and discussion of the results at various locations of our client