Objective
The objective of this Poll is to determine the potential market share for a specific product or product idea. This will help in understanding customer preferences, identifying competition, and strategizing to gain market share. This poll is best done after Customer Preference segmentation, in order to define the actual market share you can win in your sub-niche.
Key Steps
Create Poll Situation:
Define a specific situation/problem for which your product is a solution.
Write down the situation in the Situation field.
Select Competitors: Select a broad variety of products that represent the range of offerings in the niche market you are entering.
Compile Product Thumbnail: Create a product thumbnail with an image, price, title, star rating, and number of reviews for your own product listing.
Target the Right Demographic: Ensure that the poll is targeted towards the right demographic that aligns with your product.
Analyze Results: Review the results page to understand the impact of different price points on sales velocity. Identify the price point that generates the highest sales velocity and optimal profit balance.
Cautionary Notes
This poll is best conducted after thorough customer preference segmentation.
Target the right demographic to gather relevant data for analysis.
Tips for Efficiency
Collaborate with team members to streamline the polling process.