Case Study · Film · Product Strategy
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Determining product-market fit for a new idea
Mimosa Partners worked with an innovative company in the film industry that were interested in understanding whether a new product idea had strong product-market fit.
Client
Film industry company
Services/products
Communication product
Our role
Internal workshops, customer research and synthesis, product strategy development
What we did
Mimosa Partners worked closely with our client to determine if their new product idea was desirable, feasible and viable and who the market might be.
Conducted workshops with the team to develop a hypothesis model including empathy maps, value proposition
Developed key product features, and a business model with pricing options
Tested the key hypotheses with a series of potential customers to develop an understanding of market fit.
A roadmap of features was provided with an understanding of must have, should have and could have features.
What we found
While there was desirability for the product, we found it was potentially attractive to a niche audience only. We also found that customers for the product were inclined to satisfice and choose a “good enough” option, rather than paying a premium for a better solution.
Thus, while there was a gap in the market, the solution was not deemed to deliver a level of growth that was suitable to pursue at this time.
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