We have concluded that Exxcel should conduct additional marketing research before authorizing the funds required to launch the new product because of the following reasons
1) Projected 25% market share is not near the desired 30% market share that Exxel wants to achieve. Thus knowledge of the market is the key to achieve this.
2) The housing market has seen a slump. This product is always installed during the construction phase with no plans for replacement. So the initial marketing strategy and tapping the right distribution channels is going to be a major factor to achieving this goal.
3) It needs to evaluate the real estate market before launching the product to mitigate potential risks and identify key insights.
