Market validation is the process of presenting a concept for a new product to potential customers early in the development process to determine if there is interest in the idea and gather feedback before significant resources are invested. Some key ways to validate a product's marketability include making initial sales, conducting competitive analysis and research on existing demand, starting a crowd-funding campaign, meeting with customers directly, conducting beta testing, and gathering feedback to refine the product. This process helps reduce risk and ensure efforts are focused on developing a product with true market demand.

1. MARKET
VALIDATION

2. “Market, according to
Hubbard (2019), refers
to a set of individual
sharing similar needs or
characteristics that a
business hopes to
serve.
These individuals are
the end users most
likely to
purchase your product.
“
Market validation is
the process of
presenting
a concept for a
product to its target
market and
learns from those
prospective buyers
whether or not
the idea is worth
pursuing.
This process
typically takes
place early-on in
the conception
stage, before any
significant
investment has
been made in
developing the

3. 1. Interview people in the target
market, such as the buyers.
2. Send out surveys to these
clients

4. How to Validate a Product’s or a Service’s
Marketability
1. Ring the cash register.
The first and arguably best way to
validate your product is to prioritize
making a few initial sales.
Nothing is more important than
customers seeing the value in your
product and exchanging money for it.

5. How to Validate a Product’s or a Service’s
Marketability
2. Conduct competitive analysis.
Market research is useful all throughout the
process of making products suited in the
market.
It help you to ease or lessen the risk and build
confidence in your idea before venturing your
time and money.
Competitive analysis will help and support the
translation of your conceptualized idea into
reality gaining confidence that there’s enough
demand of your product in the market.

6. How to Validate a Product’s or a Service’s
Marketability
3. Research the existing demand.
A third strategy you can use to validate your product and
its market is to analyse demand and search volume.
The easiest starting place is to go to internet.
Using the Google Trends, a free tool, allows you to see
how often people are searching for the products you are
selling.
Knowing the frequency of how often your product being
searched it can help you make more informed decisions.

7. How to Validate a Product’s or a Service’s
Marketability
4. Start a crowd-funding campaign.
Crowd-funding is the use of small amounts of
capital from a large number of individuals to
finance a new business venture.
A crowd-funding campaign is a helpful, proven
option to see if there’s demand for your product.

8. How to Validate a Product’s or a Service’s
Marketability
5. Meet customers in person.
Face-to-face validation is another method to be done
to ensure that your product is viable.
Trade fairs is one way of meeting customers and
provide you with a quicker response and first-hand
feedback from potential customers.
You were able to gather insight, information, seeing
their initial reactions to your product, and lastly you
will assess if they are willing to spend money for your
products.

9. How to Validate a Product’s or a Service’s
Marketability
6. Beta Test
Other ways to validate your product include creating
a test version of something and running it past a
small group or au]dience to get their feedback.
A test version of the product can either be paid, or
free, and is a great way to get testimonials and
feedback while you create.
You can also use the feedback from your first round
to improve and build on your ideas to make them
even better!

10. 1.Reduce the risk of launching the wrong idea.
2.Idea validation lead to the creation of a
valuable product in the market faster.
3.Minimize costs.
4.Check that your idea has real demand.
5.Prove that you can sell the product.