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You will probably
have to do your own market research. Professional research is often too
expensive, and if your idea is still at concept stage there is a risk that
other people will not fully understand it.
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Universities are
a possible source of low cost research assistance. For example, some
departments may need real-life project material for their students. A problem
is that students differ in ability, and so quality cannot be guaranteed.
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All your research
needs to look professional. This is important because at some point you may
have to present your research to other professionals as part of a proposal for
funding.
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Use only reliable
or first-hand sources of information, and record each source. Never do what some inventors do, and
present as evidence a collection of articles from popular newspapers and
magazines.
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Consumer surveys
may seem like a good idea, but many people say one thing to researchers and do
the exact opposite later. Surveys may therefore be a poor guide to actual
buying behaviour.
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Do not trust the
opinions of family and friends! Most will lie to you in order to avoid
arguments, or because they do not want to hurt your feelings.
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Do not ignore
someone whose opinion is different from all the rest. That person may be the
only one to identify a major weakness in your idea.
Free or cheap market information sources
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Mainly the
internet. Be careful though, as much of the data you find may be outdated or
inaccurate.
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Many academic and
large public libraries have business information departments, staffed by
helpful librarians with fact-finding expertise.
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Use Espacenet to
look at recent patent applications. This can give you clues about the products
and technologies major companies may be working on.
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Visit relevant
trade fairs and exhibitions. Talk to people, find out who is doing what.
