What is market research?
Market research is a compilation and analysis of information about how a product will be recieved by consumers. It includes searching databases to find similar technologies and evaluate their success, examining market trends and deciding if there is a need for the technology. Through market research an entrepreneur finds out the level of demand there will be for the invention.
Why do I need it?
Transforming an invention into a business opportunity takes a lot of effort and research. You want to be sure the market demand will be worth the work.
Who can help me?