Validating and Developing LeydenJar’s New Product Marketing

Abstract

Layman's abstract:

LeydenJar is a company that makes pure silicon anodes, which are compounds that allow for high-energy batteries. They are targeting drone manufacturers as potential customers because it is believed that LeydenJar’s product fits well in this market (product-market fit) in which high energy is essential.

LeydenJar designed a battery that is specialized for use in drones, based on feedback from a small group of customers. However, it is uncertain whether this initial feedback represents the entire drone industry, and if LeydenJar’s drone battery is a fit throughout the market. Proceeding without addressing these uncertainties might result in poor product-market fit and low sales. Therefore, the first goal of this research is to find out if LeydenJar’s drone cell meets the broader drone industry’s needs.

To attract potential customers in the drone industry, LeydenJar uses a product datasheet that highlights the battery’s performance. Since the datasheet was never tested with real customers, it is uncertain whether the use of this specific marketing tool effectively grabs the attention of potential customers in the drone industry. Therefore, the second goal is to evaluate if the datasheet is an appropriate marketing tool for the drone battery and to explore other options.

The datasheet includes all information that is believed to be important for drone market players to assess the drone battery. The level of detail is based on the assumed understanding of battery buyers in the drone industry. To ensure that the datasheet is effective, these assumptions need to be validated. Therefore, the third goal is to evaluate how well the datasheet’s contents meet the needs of the drone market and to study possible improvements.

To achieve these goals, interviews were conducted with potential customers in the drone industry. They discussed the datasheet to understand customer validation of the battery, the marketing tool, and the contents of the datasheet itself. During the interview process, the datasheet was updated based on feedback from these interviews.

The interview results showed that the battery fits well with customer requirements, indicating a good product-market fit. Therefore, LeydenJar is advised to continue offering their drone battery to the drone market.

The results also showed that the datasheet seems to be a key marketing tool. Additionally, demonstrating the battery’s performance in a real drone seems to support the marketing, as it makes the drone battery more tangible. LeydenJar is advised to continue using the datasheet and to showcase its battery performance in a real drone.

Incorporating customer feedback appeared to improve the datasheet. An updated version of the datasheet, containing all useful additions discussed in this study, is recommended for future marketing. LeydenJar is advised not to spend more time developing the datasheet using the method presented in this study, as it is time-consuming and has potential pitfalls. Instead, they should continue marketing their drone battery using the optimized datasheet from this study.