Validating Business Model for New Product
Problem: Following a strategic initiative to diversify into new areas of business opportunity, the client wanted to determine the best new product lines to invest in and how to capture significant market share.
Goal: The Fitzgerald Analytics team was asked to create a business case for a new product line by conducting extensive market analyses and financial modeling, and evaluating different product placement strategies and product lines.
Approach:
- Opportunity Identification: The team kicked off the project by conducting the necessary research on the real estate emerging market, creating a basis to identify the potential niche that the client could capitalize on.
- Business Case: Next, the Fitzgerald Analytics team benchmarked different business models to the client's current model. We proceeded to evaluate the profitability of the new business venture through proprietary financial modeling techniques, establishing a business case to proceed with the project.
- Branding Strategy: Finally, the FA team worked on developing the appropriate branding strategy for the client, and creating the necessary materials to present the innovative product line to potential investors.
Result: The FA team recommended which product lines the client should prioritize based on forecasted returns, and created the necessary materials to convince investors to buy into the client's business venture. This generated broadened interest from investors and partners, and resulted in agreements and commitments which are now in place to green-light the new product.
