Support the launch of a new electronic device in the consumer market

Actor in the field of electronic products for professional application, our client would like to be supported during the launch of a new electronic device in the consumer market. To do this, he wants to quickly get a clear vision of the competition and the customer needs. The mission of IAC Partners is to conduct a market study regarding similar electronic devices, to define a datasheet and a target product architecture.

Our approach comprises two main phases: the market study and the definition of the product, divided into several steps.

Market study:

• Competition analysis on the different functions of the product: sourcing of suppliers and performance analysis / price on a short list of key specification
• Study of consumer needs through interviews with experts in the consumer electronics market: identification of the current level of equipment, potential issues and evaluation of the need for innovative functions for potential buyers
• Study of the market environment, including size of potential markets and the regulatory roadmap
• Update of the initial business plan

Product definition:

• Prioritization and selection of functions to be incorporated into the new equipment

• Translation of the functions into operational performance levels and then into product specifications
• Definition of the architecture options of the target product with first economic projection and advantage/ disadvantage enabling the client for decision-making

This study made it possible to define an objective price on the consumer market, to select the functions to be integrated into the product, to draft a product datasheet as well as the architecture options to implement these functions. Different scenarios were studied in depth, some of which offer several of the optional functions on the product. Finally, after the market study, a new business plan was created.