Module 09. Market Validation
When presented with your solution, do customers buy it?
This is where the rubber meets the road! Market Validation Testing is not at all quick, easy, or free but it is probably the most important step you’ll take to ensure profitability before spending thousands, if not hundreds-of-thousands, of dollars on your final product development and marketing launch. At the end of Market Validation Testing, you will either have paying customers, or you’ll have to go back to a previous step and make some adjustments. In some cases, you may learn the world is nothing like you thought it was and decide to scrap your business altogether. One thing is for sure, if your solution is going to fail, you want it to fail now, not later!
Key concepts covered include:
- What is Market Validation Testing (MVT)
- Examples of MVT to conduct
- Setting relevant, unbiased metrics
- Evaluating results