Hey there,So we are working on this product which will be a consumer electronic product but with a more design and fashion functionality rather than tech,the finishing price of the product at this point is around 300-400 dollars which makes it not a necessity but a luxury and not everybody will want to pay for it, i think one of the challenges we gonna have is to find a niche market and targeting people who will really convert on low ad budget,so my question is how do you think we can work this out? has this ever happened to you? will appreciate it,cheers
Guys...use paragraphs. Spacing. Please.
Make it easier for everyone to read. No Gray Potato Smear.
OP: you're building a product you're not sure people want?
Lesson for next time: determine the market FIRST. Then build the product.
Apple didn't make the iphone because Jobs thought "This is cool to me, and maybe someone will want it." We could see that phones, TVs, cameras and other functions were all merging into a single device. They *knew* people wanted it before they made it.
Without seeing a picture of the thing, it's tough to say why people would buy. But your Price concern is not something to be worried about. What you want right now is the 10-15% early adopter market, not mass market penetration. If you need to know more about this, look for Simon Sinek's "Why" video.
These people will pay what you consider to be the "extra" money, so they can be the first to have a cool new product.
They can give you your raving testimonials.
But the product had better be cool.
People pay more for high end fashion all the time. Sunglasses. Designer jeans. Keurig coffee.
YOU ARE NOT YOUR CUSTOMER.
