I will briefly share my learnings about the Vodites market.
My main view is to be the first to enter the market. The trick is to enter with the basic and least expensive product, as long as you are the only product in the market, the consumers will have no other choice but to purchase your product. The ad spend doesn’t have to be very high since there would be no competitors. Though you still need to maintain ad spent to increase the market size.
However, if a competitor happens to enter the market at the same time as you, then you won’t gain any market share, especially since the product would not meet ideal values.
The second advantage to entering the market with a basic product is when it is time to R&D the upgrade, you will notice significant (more than 50%) reduced costs. This makes it very easy to upgrade the product as soon as a competitor enters the market.
Target the largest markets first, Innovators and Early Adopters, they will also pay a premium for your products. A rough estimate for RRP for a Voditie product on launch is $1,000 or five times the base cost. If you are the only competitor, you may be able to charge even more.