A market analysis report is one of the more common and most basic reports Idealine offers. In such a report the client learns more about the marketplace into which his product would enter, including industry and market trends, the size of the market, and current offerings of similar products in the marketplace. Such a report can often answer one of the first questions- “Can it make it?” – that an inventor wants to know before proceeding with an invention.
The market analysis will examine in some detail the industry & market (both what has been done before and what is up and coming) and consumer demographics, needs, and trends. From this data alone most inventors are able to make an informed decision regarding moving forward. The MA can often offer insights about key features of the product to add or edit, give ideas about potential consumers to target, or even highlight potential liability concerns that never would have occurred to the inventor.
In the market analysis example report provided you can also see that Idealine goes beyond these basic concepts to find what is relevant for a particular product. In this case the product is a phone and computer application, so there is some detail provided about current and rapidly changing technology as this could potentially affect the product’s viability.