Whoever said you can’t learn anything from television?
The History Channel’s new series, Invention USA, featured two inventors’ ideas in its debut episode – a Bluetooth device built into a glove, and a special chemical-explosive-based gun for repelling Bigfoot attacks. Guess which one the show’s hosts chose to invest in?
As this article on Entrepreneur.com points out, the answer is all about marketability. Nearly half of all Americans own a cell phone, but how many people would ever need a Bigfoot-repelling device?
That’s why market research is a crucial part of the invention development process. Without market research, it’s hard to know if the potential market for your invention is five million consumers, or just five.
A consumer survey is a great way to gather this valuable information. A series of carefully crafted questions helps determine the demand for the product, as well as the types of people who would be interested in it, where they might buy it, and at what price. AbsolutelyNew performs this kind of research to help determine which of our own ideas will eventually make their way to you as completed products.
Not only that, but we offer the same survey process to the independent inventors we work with. Other invention companies don’t offer this service, because they don’t want to give you any reason to stop working with them. But at AbsolutelyNew, we want to give you the best possible chance of success. Sometimes that means shelving a good idea because it has a limited potential market. But when the consumer response is positive, it can also help you move forward, that much more confident that your idea is a truly great one.
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