Prelaunch.com Market Research Report

Background

Overview

Prelaunch.com is a product validation platform that enables brands to assess market demand and customer interest before launching new products. By facilitating pre-orders through small deposits, the platform provides valuable insights into potential success, allowing companies to make informed decisions and reduce the risk of product failure.

Mission and Vision

Prelaunch.com's mission is to revolutionize product validation by offering a data-driven approach that moves beyond traditional surveys and focus groups. The vision is to empower innovators to launch products with confidence, backed by genuine customer interest and actionable insights.

Primary Area of Focus

The platform specializes in pre-launch product validation, focusing on gauging real market interest and purchase intent. This approach helps brands optimize product-market fit and refine their offerings before full-scale development.

Industry Significance

In an era where 80% of new product launches fail, Prelaunch.com plays a crucial role in mitigating this risk. By providing a reliable method to test product concepts, pricing strategies, and target audiences, the platform contributes to more successful product introductions in the market.

Key Strategic Focus

Core Objectives

Market Validation: Assess genuine customer interest and purchase intent to inform product development decisions.

Risk Mitigation: Reduce the likelihood of product failure by providing data-driven insights before launch.

Customer Engagement: Build a community of early adopters who are invested in the product's success.

Specific Areas of Specialization

Pre-Order Systems: Implementing reservation models where customers place deposits to secure products, indicating real purchase intent.

Pricing Strategy Testing: Evaluating different price points to determine optimal pricing strategies.

Audience Insights: Gathering demographic and psychographic data to understand target customer profiles.

Key Technologies Utilized

Analytics Suite: Tracking over 35 data points per visit to provide comprehensive insights into customer behavior.

AI Market Research Assistant: Analyzing competitor reviews and market trends to inform product positioning and development.

Primary Markets Targeted

Prelaunch.com serves a diverse range of industries, including consumer appliances, packaged goods, health and wellness devices, wearables, fitness tech, mobility and transportation, smart devices, and IoT products.

Financials and Funding

Funding History

In March 2023, Prelaunch.com successfully closed a $1.5 million seed funding round. The investment was led by BigStory VC, with participation from Formula VC, Granatus Ventures, the Business Angel Network of Armenia, and individual investor Vahe Kuzoyan.

Utilization of Capital

The funds are intended to enhance the platform's capabilities, improve sales and marketing efforts, and establish a stronger presence in the U.S. market.

Pipeline Development

As a service-oriented platform, Prelaunch.com does not have a traditional product pipeline. Instead, it continuously refines its offerings to better serve clients in validating and launching new products.

Technological Platform and Innovation

Proprietary Technologies

Reservation Model: A unique system where customers place a $10-$20 deposit to reserve a product, confirming genuine purchase intent.

Analytics Dashboard: Provides real-time tracking of over 35 data points per visit, offering comprehensive insights into customer behavior.

Significant Scientific Methods

AI-Powered Market Research: Utilizes artificial intelligence to analyze thousands of competitor reviews, identifying market sentiments and trends.

Leadership Team

Executive Profiles

Narek Vardanyan: Co-Founder and CEO. Vardanyan has a background in marketing and product development, having previously run a successful marketing agency. He is passionate about helping brands validate their product concepts to ensure market success.

Eric Lang: Co-Founder. Lang brings expertise in technology and business development, contributing to the platform's strategic direction and growth.

Mariam Hambardzumyan: Co-Founder. Hambardzumyan focuses on operations and customer relations, ensuring the platform meets user needs effectively.

Arthur Manukyan: Chief Business Development Officer. Manukyan is responsible for expanding the platform's partnerships and market reach.

Competitor Profile

Market Insights and Dynamics

The market for product validation platforms is growing, with increasing demand for data-driven insights to inform product development. Companies are seeking reliable methods to test market demand and customer interest before launching new products.

Competitor Analysis

Prelaunch.com faces competition from various platforms offering similar services. Notable competitors include Viral Loops, which provides referral marketing software; Coolbacker, a crowdfunding platform; and LaunchNotes, which offers product launch management tools.

Strategic Collaborations and Partnerships

The platform has established partnerships with venture capital firms and angel investors, including BigStory VC, Formula VC, Granatus Ventures, the Business Angel Network of Armenia, and individual investor Vahe Kuzoyan.

Operational Insights

Strategic Considerations

Prelaunch.com's unique reservation model differentiates it from competitors by providing a more reliable indicator of customer interest through actual purchase intent. This approach offers more actionable insights compared to traditional surveys and focus groups.

Competitive Advantages

Proven Methodology: The reservation system effectively gauges genuine customer interest, reducing reliance on less reliable market research methods.

Comprehensive Analytics: The platform's detailed tracking and analytics provide a deep understanding of customer behavior and preferences.

Strategic Opportunities and Future Directions

Roadmap and Expansion

Prelaunch.com aims to expand its reach by enhancing its platform capabilities, improving sales and marketing processes, and establishing a stronger presence in the U.S. market.

Opportunities for Growth