Research Market Potential
Market Research is vital for businesses to discover and validate customers. Our market research takes a completely new approach to product and customer development, revolutionising the way of looking at customer needs. Qi3 Rapid Market Prototyping™ works with your business continuously in order to co-create a lean and informed development process.
Qi3 employs rigorous market research methodologies to really get under the skin of a technology/product or service. Our methodology ensures our market research delves deeper than your average consultant’s analysis.
We have extensive experience in conducting research in a huge range of applications and for a wealth of companies from SME’s to large Corporations to University research centres.
Our team has experience in a wide range of technology domains, combined with strong backgrounds in sales and marketing, so we are able to extract the maximum potential of a technology and provide real business insights & qualified prospects for early adoption.
We use our market research to evaluate the feasibility and potential applications or markets of a given technology, group of technologies or patent.
Over the years we’ve conducted over 150 market evaluation projects for a host of SMEs, technology corporations and research institutes, covering a huge range of applications.
Our market research is a rigorous methodology incorporating quality and project management blended with a number of unusual features. This gives our outputs the feel of a company’s in-house product marketing activity rather than an impersonal consultant’s analysis.
Because we understand that every business situation, technology and market is unique, we carefully tailor the deliverables to your needs. In addition the level of detail covered and the number of issues looked at vary according to the level of service chosen. This flexible approach to the methodology is what sets Qi3’s market research apart. And more than providing desktop research, Qi3 interfaces directly with field experts, potential end-users and manufacturers to unearth the true value of a technology, and provide actionable recommendations to clients.
There are generally two stages to our market research.
The first will allow you to decide whether further patenting and R&D costs are justified. Typical issues we address might include:
- What are the key features and benefits of the technology?
- Assessment of Technology Readiness Level
- Core competences of your organisation in this technology area
- The ‘sweet spots’ where the technology is best suited to particular applications
- Suitability of applications and markets suggested by clients and comparison with competitors
- Current size and values of the markets
- Next steps and further work required
At the second stage we go into greater detail to reveal, for example:
- Market forces and segmentation
- Market growth forecast
- Best entry strategy
- How to achieve early sales
- Identify target companies for early sales and collaborative development.
Our deliverables typically focus on real customers and strategic partners, as opposed to just a dry assessment of the technology.
We have a flexible team of domain experts and technology business marketers, and can discuss case studies from our portfolio of completed projects, many of which have led to successful commercialisation.