Quote:
Originally Posted by Instrument 41
How do you know if there is viable market for an idea that I have before I go into manufacturing and in depth product development?
|
Fundamental consumer market research. Surveys, Interviews, Focus Groups.
At the most simple level - ask a theater owner if you can talk to patrons before they enter the theater. Offer to buy them a movie ticket for a 10 minute survey after the movie (probably too much time pressure before the movie). Tell them that after the movie and after they answer your questions, you'll pay for their ticket in cash. Then craft the right kind of questions (that's not trivial) to determine level of interest, intent and action at various price points.
The reason the market research firms are paid a lot of money to do this is a) finding a representative audience for surveys, etc.; b) developing questions that give you actionable results; and c) it takes a lot of hours.
Good Luck with your idea!