Market research & new product development The market size

The SMEs (1) in the fine and speciality chemical industry need to adapt to the new realities of the globalized markets and embrace market driven business processes. Marketing research provides a reliable screening tool for the choice of new products under development. In this context, determining market size for each new product is a necessary step for the quantification of the ROI (2) on the R&D activities. Companies that fail to anchor their R&D activities in the determination of the market size will also fail to get the expected ROI on their R&D investment and fall short on meeting the shareholders expectations.