Market Validation Capability Assessment

Assess these ten statements for a quick assessment of you company’s market validation capability.

1. Before developing a new product they carry out market validation.
  Always Most of the time Sometimes Rarely
2. When deciding on whether or not to develop and market a new product the decision making process is not based on a sale to a single customer and then hoping to target other customers with the same product.
  Always Most of the time Sometimes Rarely
3. When investigating a market, people ask prospective customers questions their business and business goals rather than introducing your company’s products.
  Always Most of the time Sometimes Rarely
4. When investigating a market, people prepare a set of interview questions that are more or less consistently asked.
  Always Most of the time Sometimes Rarely
5. People know what kinds of questions to ask to get what kind of information.
  Always Most of the time Sometimes Rarely
6. People feel comfortable interpreting the results of the data collected and drawing conclusions.
  Always Most of the time Sometimes Rarely
7. People know how to gauge the value of a solving a problem in terms of money.
  Always Most of the time Sometimes Rarely
8. Your product prices are calculated based on value to the customer rather than cost plus.
  Always Most of the time Sometimes Rarely
9. Market validation always includes questions targeting understanding buying processes of the customer and key decision makers.
  Always Most of the time Sometimes Rarely
10. People feel comfortable when the result of a market validation exercise leads to a negative conclusion.
  Always Most of the time Sometimes Rarely