Elevate Insights helped a leading Ed-tech player to identify unmet needs of their core consumer and to further ascertain product market fit of their new product innovation targeted to meet these needs.
Innovation - Finding Product-Market Fit
Business Challenge: Identifying Product Improvement Opportunity and Validating for Product-Market Fitment
An Edtech unicorn wanted us to understand unmet needs around school tuitions to identify new product opportunity and assess its pre-launch performance.
Following our recommendation, they designed a new product and wanted us to measure the likelihood of in-market success of this new initiative. Additionally recommend any improvement areas and provide insights into likely market and communication cues.
Key Insight Areas
We surveyed areas of satisfaction as well as dissatisfaction with school and tuition among both tuition users and non-users. We looked at role of the subject in the student's long-term and short-term goals. We could also measure current proficiency levels of this subject.
For validating the in-market opportunity we leveraged our proprietary toolkit to assess potential of a business idea. This toolkit allowed us to measure interest in purchasing product at different price points, key improvement areas with benchmarks to read scores and ask questions specific to adoption of consumer-tech products.
We provided sharp insights on product enhancement and target audience relevance.