Worksheet · E-Commerce Business Basics · Ecommerce Basics
Product validation scorecard
From the lesson Market Research
Work through each step on paper or on screen. Use a real business, a project of your own or a friend’s idea. Keep this page for your portfolio.
1Write your product idea and who it is for.
2Gather data on demand, competition and margin.
3Score the idea with the product validation scorecard.
Worked example to compare with: Validating a water bottle idea
- Idea: a leak-proof reusable bottle.
- Research: many sellers, but reviews of the top five bottles repeatedly mention leaking lids.
- Margin check: cost $6, shipping $3, selling price $24 leaves $15 before ads and fees.
- Test: a simple landing page and a small ad budget to see whether people join a waiting list.
- Decision rule: if at least 3 percent of visitors sign up, order a small first batch.
Check yourself
- I can explain "Market Research" in one sentence.
- I used a real business or project, not just an idea.
- I know what I will do next, and by when.
Notes
Free course worksheet · https://studentmarketers.com