Sample Scope for Market Research
Size of the market
This tells you if the market is big enough to justify your effort. If it is too big, you probably need to focus on a sub-segment to be successful. If it is small, consider the likelihood of your capturing a sufficient market share to justify your investment.
Structure of the market
Knowing if the market has one big player or 1000 players with less than a 5% market share each will help you select the proper Sales channels.
Major players
Consider not only potential customers and competitors, but opinion leaders and market makers. Do your products need to be compatible with a standard product in the industry that is neither from a competitor nor from a potential customer?
Competitors and competitive solutions
How do your future competitors play their cards? Will you be able to displace some of their business, or are their customer interactions so deep that you will not be able to separate the business you would like from their other business? Are there solutions that do not involve using a product like yours? These solutions need to be treated like product competitors.
Market trends: shrinking, growing, changing, moving to overseas
A rising tide lifts all boats, but it also attracts a lot of competition. On the other hand, if a market is shrinking, established competitors will likely cut prices to retain market share. Take this into account in estimating the prices you will charge.
Location
If you have to get new Sales coverage, or provide local technical support, mapping where the potential lies will help you locate resources where they can serve your customers most efficiently.
Depending on the purpose of the research, more specific questions might be included in the scope. Please contact us to discuss your requirement.