Forums: Discussions for entrepreneurs and small business.

I've spent a lot of time researching my product, patent option (including initial patent search), drawing specs, and I've just recently purchased material to make one or more working prototypes. I am targeting a very specific (but large) group of end-users and have a niche' that no one else has developed in this market area. I want to put together a complete Profile and have all contemplated questions answered should I choose to have the product Licensed. Here's my issue and where I need some guidance. I'm definitely not sure where I should start looking for the market research....I'm looking for some very specific stats (how many possible customers there could be). Anyone have any advice? I want to do all of this on my own and not have to pay anyone to do this. I'm smart, creative and have done a lot of research. I have many, many ideas for new products in a couple of different market areas. I feel the more information I can gather, the better my chances are of being knowledgable and successful. I'm very excited about this first product and can't wait to move forward. I really do appreciate any help you can give me.

K

onlyK:

try this - google "market research" or "industry reports" or similar key words. You might be surprised by what you find. likewise, check out www.scribd.com, which contains all kinds of papers and publications uploaded by contributors. as always, remember "caveat emptor".

also I know at my local library reference section there is a book of associations. many industry associations provide some free information and access to research reports for what may be a reasonable fee.

good luck !

I assume you are talking about your secondary market research correct? In most industries, the leading "trade group" or association would be a great place to start.  For example, when doing my secondary market research for my "grilling gadget" I looked for the leading trade group governing the genre, and in my case it was the HPBA (Hearth, Patio and Barbeque Association) which was a WEALTH of information.  (Free)  What's your industry?  If you plan on licensing your product, you need to think like your licensing partner.  Who is your ideal manufacturer/partner for your product and then think of or look up what trade association they belong to.  Those numbers will speak to them.

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Leslie
Founder and President
Charmed Life Products LLC
Grill Charms™… The MUST HAVE grilling accessory that is revolutionizing the American Cook-out AND The perfect gift for any occasion!
Grill Charms
                                                                                                    

Leslie; Great advise.

OnlyK,

Thats good that you do your own research, I know so many people that have been scammed.

Here are a few pages that can help, you can also form your own focus groups.

Offer free donuts and coffee for some time and feedback.

People love giving opinions ;)

http://www.researchwikis.com/Main_Page

http://www.companiesandmarkets.com/

This site has a lot of useful info also.

http://www.mominventors.com/

 

CW

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Chris Wentworth Owner Action Prototype & Urethane Casting 714-978-0333