Market Research

Market Research

Carrying basic market research is essential for startups to minimize the risk of failures before we began creating the product. The product idea may be great, but it is essential to find out the demand for your product in the given market. Good market research helps in making better business decisions. Conducting market research during the very early stages of a startup will avoid costly mistakes.

It is easy to conduct basic marketing research using the internet. There is plenty of information about anything on the web. However, market research is not just data. The data available over the internet is often unorganized, irregular, and incomplete. It helps, but it’s not everything. Market research goes beyond collecting huge amounts of data and tries to uncover previously unknown patterns or intelligence that the data represents.

Custom Research Framework

Our specialists will help you with your market research activities. We will analyze your product idea and create a custom research framework defining the most relevant factors and parameters for your particular niche.

Each industry or niche has its specific characteristics, players, and customers. The objective of creating a research framework is to analyze what to include and the extent of a probe that your business needs. For some products, we may need to explore the cultural, ethnic, habitual, or behavioral patterns among customers, while for others we may just need to look at the pricing and competition. There is no universal framework that fits every business need. A framework is created specifically for your business.

Our Process

Like in any other research, we will find answers to the following questions.

  1. Do your ideas have a genuine market in your target area?
  2. Is there a way to estimate the demand?
  3. Are there any similar products in the area?
  4. What are the current sales trends in the industry and is it possible to create additional demand?
  5. Have you compared your idea with existing products in the market?
  6. Can you find any potential partners for finance, marketing, or other

These are seemingly simple questions, but finding answers is difficult. Each question requires a thorough investigation and needs to be broken into several sub-questions and sub-topics. This is where our expertise will help you in deciding which information to collect and how? We will draft the right questions to ask.

And you will tell us, what is the most relevant information for your particular business from that information? Together, we create the most insightful market research.

Data Collection

Data analysis

We Collect Data About

  • Your target audience
  • Your competitors
  • Current market trends
  • Risk factors
  • Business costs
  • Pricing mechanism

Data Collection Methods

  • Guerilla methods
  • Surveys and Polls
  • Talking to customers
  • Quantitative
  • Qualitative
  • Secondary
  • Minimum Viable Product
  • Mystery shopping

Insights and Findings

Data Flow chart

All the data and responses are formatted and stored using appropriate methods. A detailed analysis and visualizations of the data is presented along with the key findings and business intelligence. Your data is stored in several exportable formats including excel, database etc. so you can import it into your own systems. We will also create a custom dashboard for you to play around with the data.

Your report may include exhaustive material about (based on the framework)

  • Competitive analysis
  • Market trends
  • Industry overview
  • Forecasts
  • Consumer insights
  • Channels and distribution
  • Market segments
  • Risk analysis
  • Conjoint analysis
  • And a lot more

Based on your actual requirement, it takes anywhere between 3 to 8 weeks.

The price depends in the scope and extent of research required. But we are quote affordable for startups and small companies.

We will disclose sources of all data and other methods, for you to verify our research report. In addition, we will handover all files, recordings and documents over to you along with the final report.

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Need a market research report?

Please call us on: (+1) 678-590-1940  or email us at: contact@ezinnovation.com
to discuss your research requirements.Contact Us »

About Our Company

EZ Innovation provides consultancy for startups and SaaS founders to improve their business efficiencies and revenue rates. Our services include writing effective business plans, provide funding assistance, developing MVP and prototypes, market testing, digital marketing and lead generation. We are working with several startups that are in various stages of their business lifecycle, and are augmenting their IT and support staff requirements, helping in their marketing efforts, connecting them to growth agencies and improving their business processes.