Planners Koncept , Market Research feasibility studies involve collecting information about a potential market that can be used in deciding how a product or service should marketbe designed, delivered, priced, and marketed. Market Street Research uses a variety of tools to assess market feasibility ranging from collecting and analyzing secondary data to conducting primary research such as focus groups, telephone surveys and other methodologies.
Any business or organization facing a significant investment or risk in developing a new product or service should consider conducting market feasibility, needs assessment and/or competitive intelligence marketing research. Market Street Research works with you to collect and analyze information about:
- Unmet needs that could be addressed by a new product or service
- Overall demand for new products, services, or ideas
- Characteristics of likely customers (such as demographics and buying behavior)
- Characteristics of likely competitors
- How competitors are likely to react when your product or service is introduced
- How your new product or service should be designed to best meet customers' needs
- How best to market, advertise, and communicate about your product or service
- Likely barriers to successful introduction of your product or service
Market feasibility studies and competitive intelligence analysis can provide invaluable information about the likely success of new product or service ideas. Any time you are considering changing your products or services, developing new ideas, moving into new geographic markets, or expanding your business or service offering, Market Street Research can provide accurate, timely, in-depth information that will help you make the best possible decisions, given the characteristics of your likely customer base and competitors. Please contact us to discuss how Market Research Feasibility Studies can help you achieve your goals.