When you have a new idea for an innovative product solution, it doesn't necessarily mean there's a big market for it. There are many reasons for this:
- The product solution might be too application-specific, or the market potential is too low.
- The added value of the solution is not sought after.
- The production cost of the new solution is higher compared to the existing solution.
- The protection of the idea is hardly possible or it could be copied too quickly.
- The new solution might infringe existing patents or copyrights.
- The target group and / or application is unclear.
- The competitive advantage or attractiveness is not present in the intended segment.
- There is a lack of distribution competencies or a lack of an adequate distribution network.
Since there are many parameters to consider before launching a new product, it is advisable to carefully evaluate possible hurdles.