You're advising a consumer technology company that wants to launch a new personalized photo gifting product into a category adjacent to its core business. Leadership believes the product could expand the brand beyond its current occasions and customer base, but the category already has established players, different purchase behavior, and unclear willingness to pay. The team needs a structured way to decide whether to enter, which customer segments to target first, and how to sequence distribution, pricing, and launch investment.
How would you approach a market entry strategy for a new product?