Are there enough people that would be interested in buying your product?
Below are some ways to gather crucial data to find out if there is really a market for your new invention idea.
(If you are concerned that someone will steal your idea, you can have them sign a non-disclosure agreement before you ask them questions about your product)
Trade Magazine research – There are trade magazines covering just about every interest, industry, gender, and ethnic group you can think of. If you go to Amazon’s magazine search
Internet research - Below are some websites where you can do research to find out if you have a large enough target market for your new invention idea:
US Census Bureau – www.census.gov - provides informational data on people, households, business and industries.
US Department of Commerce http://www.commerce.gov/ - Here you can find consumer information based on age, sex, population, location, income levels, housing and purchasing patterns
Additional Market Research Websites:
Standard and Poors Net Advantage – you can get information on types of businesses that might be potential customers for your new invention idea
Reference USA - great site to do market research
U.S. Securities and Exchange Commission – you can find financial reports for public companies here
Hoovers (A D&B Company) - offers company information with detailed business reports and industry profiles, insightful information about industries, companies, and key decision makers
www.ezinearticles.com – great place to get information about your target market and industry for your new invention idea
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