Market Trends
Researching Market Demand for Emerging Product Categories
This prompt helps teams evaluate the potential demand for emerging product categories in their market. By gathering insights on user awareness, interest, and willingness to adopt, teams can validate opportunities and guide product development.
Responsible:
Product Management
Accountable, Informed or Consulted:
Product, Marketing, Strategy
THE PREP
Creating effective prompts involves tailoring them with detailed, relevant information and uploading documents that provide the best context. Prompts act as a framework to guide the response, but specificity and customization ensure the most accurate and helpful results. Use these prep tips to get the most out of this prompt:
Collect data from industry research reports or growth forecasts.
Monitor social media and search trends related to the product category.
Define target audiences to gauge awareness and interest levels.
THE PROMPT
Evaluate market demand for [specific emerging product category, e.g., AI-powered tools, eco-friendly devices]. Gather insights from:
Surveys or focus groups measuring user awareness and interest in the product category.
Reports from market research firms predicting growth and adoption rates for [category].
Online trends, such as Google search data or social media mentions, that indicate rising interest.
Insights from industry panels, podcasts, or webinars discussing the future of [category].
Summarize findings on user interest, potential use cases, and barriers to adoption. Provide recommendations for entering this product category with [product/service name]. If further information about user demographics or industry trends is needed, ask clarifying questions to refine the research.
Bonus Add-On Prompts
Identify emerging trends from market reports that indicate growing interest in [specific product category].
Highlight online discussion themes that suggest rising demand for [category].
Propose strategies to introduce [product/service name] into the emerging market segment effectively.
Use AI responsibly by verifying its outputs, as it may occasionally generate inaccurate or incomplete information. Treat AI as a tool to support your decision-making, ensuring human oversight and professional judgment for critical or sensitive use cases.
SUGGESTIONS TO IMPROVE
Focus on specific regions or demographics showing the most interest.
Include a competitive analysis of early adopters in the emerging category.
Highlight environmental, economic, or technological drivers of demand.
Tailor recommendations for niche vs. broad-market opportunities.
Add qualitative insights from interviews or focus groups about the product category.
WHEN TO USE
To validate product ideas in new or emerging categories.
When exploring market expansion opportunities.
During the ideation phase for products aligned with rising trends.
WHEN NOT TO USE
If the product category is well-established rather than emerging.
When focusing solely on existing product categories or legacy solutions.