Insights 13: February 2016 * * * Handy statistics website Yeah, statistics aren't the most exciting thing to go searching for, but they are at the


Insights 13: February 2016

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Handy statistics website
Yeah, statistics aren't the most exciting thing to go searching for, but they are at the heart of research. I've found a cool website from the US Census Bureau that is a real one-stop-shop for population trends or demographics by country - actual and projected. The numbers are reliable and recent, and it has an easy search interface. You can compare countries or regions with the same criteria, and the search results are all nicely packaged. Give it a go!


The benefits of a quick market scan

Recently I completed a really interesting job for a client who has a great idea for a device and app. The client needed a market scan done by someone who doesn't have an emotional link to the idea. Budget and time frames were tight too.

Here's what I found out:

My client needed to decide who their target user is, so they can narrow down what the most appropriate needs are. The device also needs to survive the "coolness" test for the users and purchasers.
The overseas market leader is dictating the safety standards of these devices. This is a really smart move, as they get a design lead-time over others, and can position their product as the best in market.
Crowdfunding for these devices is the primary source of money for product development and marketing overseas. Funds raised range from US$300,000 to US$1.2 million. This information gave my clients an indication of what is required to get their product off the ground.
The initial shipments of competitor products have sold out, and there are waiting lists. This indicates a need for this product, and the premium price point isn't a barrier.

My client now has the information to make decisions on what to do next, and knowledge of how the market is working. Better to know now, rather than later.

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DIY patent searching

Patent searches are very tricky things to do, and I usually refer on this type of work to experts who specialise in this skill. However, every now and then I have clients who want to see what new ideas are being incorporated into processes, methods, products etc, but who don't need an exact patent search performed. If you need to look for US patents, here's a great series of tutorials that explain how to find patent information yourself. If you need a more in-depth search, get in touch, and I can refer you to a whizz patent searcher.

You know that the customer and competitor environments are constantly changing. Getting effective market research and analysis can be resource-intensive. With over twenty years’ experience and access to data not widely available, contact Cathy or on 027 43 93 795 if you need any help with solving your information problems.