In addition to service introduction, service redesign is a classic use case for a market analysis. It enables you to assess whether and how promising service introduction or redesign will be.
The market analysis includes:
- Service definition and market environment
- Competitors and pricing
- potential customer segments and their needs
- Partner environment and possible sales channels
- Trends and future developments
Product innovations and improvements lead to falling prices, which is why the product life cycle and susceptibility to external influences must not be ignored in the market analysis.
The aim of the market analysis is to provide a profound assessment of how target groups might react to potential services or changes in them.