They can also be applied to B2C products which are purchased based on rational (vs. These mega-trends became my acid test that every single product I ever created had to pass before I sent it out in the market. Most of the highly profitable business products in the market today still follow them. These mega-trends were the same across all business segments. When I put the dozens of answer trends (groupings of multiple answers with a similar pattern) of all three studies together however, I eventually picked up on three mega-trends. One of the objectives was to figure out what the folks who had purchasing responsibilities in Canadian businesses wanted most.Įach of these studies, conducted in a different size segment, came to somewhat different conclusions. The studies were conducted with the employees or owners (who held the purchasing decision power) of over 5000 businesses of all sizes, in all sectors.
I am also convinced that an important piece of market knowledge I happened upon, at the beginning of my product management career, and applied throughout the years, also played a very significant role in launching profitable products.Ībout 15 years ago, while working at a major telco, I had access to the results of three very large studies which, combined, covered all segments of Canadian businesses. Another one is my obsession with talking to potential customers (external and internal) constantly to validate ideas, even before starting the feasibility study on the future product. The teams I was lucky enough to work with are definitely a major one. There were many factors that explained the higher success rates I achieved.
With no modesty at all, I am proud to say that the vast majority of the products I was responsible to launch achieved success in the market. I have spent the better part of my career in product development, mostly B2B technological products. In the middle of product development at this moment? Thinking about how well the market will receive it? Worried the realistic sales forecast in your initial feasibility study won’t materialise? Given the dismal success rates of new products in the market, you are right to worry.
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