Business Studies, asked by ifranahd3210, 8 months ago

What development we should which solve the market problem?

Answers

Answered by Anonymous
0

Answer:

Evaluate the identified market problems by asking (and answering) the following questions.

1. Is the market problem urgent?

Once you identify a problem that applies to the market, ensure that potential and existing customers actually care about the problem. Is the perceived problem actually urgent? Will customers care if the problem is not solved? Do they have another way to solve this problem?

2. Is the market problem pervasive?

Determine if the identified market problem applies to a significant percentage of your target market. Use quantitative research to collect the data. Methods of data collection include surveys, census information and other primary market research. This can be accomplished without investing significant resources. Use free survey tools (for example, SurveyMonkey) and your personal network (depending on the target market) to collect a large amount of quantitative data.

3. Will your buyers pay to have this problem solved?

If the problem is significantly urgent and pervasive, chances are good that customers would agree to pay for a solution. The next step would be to understand how much they would be willing to pay for a solution to this problem. This can be achieved by conducting surveys or additional interviews with your target market. (To understand how to price a product, read the article, Pricing).

Note: If you answered “Yes” to all of the preceding questions, then you will have identified a problem that is worth solving. Be sure to investigate whether your competition is already solving this problem, otherwise you might not have a competitive edge in your market.

Answered by simpalkumari4
0

Answer:

it just should be good and perfect development

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