Market Research
“We believe that you have a very innovative invention; one that clearly and effectively provides a self- leveling ladder. Furthermore, we are impressed with the ingenuity of your design, most notably your inclusion of a unique hinge apparatus that allows the ladder to flex.”
Market Summary
EVALUATION PERFORMED BY: LAMBERT & LAMBERT
Marketibility
DEMAND TREND
For products in the category of the invention/idea/product, the market demand seems to be…
High, moderately increasing
PRODUCT-LINE POSSIBILITY
Moderate, many modifications possible
MANUFACTURING:
Bearing in mind the current technology and what would be needed to manufacture or practice the invention/idea/product, manufacturing or practicing the invention will be…
Feasible, without foreseeable difficulties.
SOCIETAL INFLUENCE
The new invention/idea/product would likely have an influence on society that is…
Beneficial
POSSIBLE HAZARDS
Bearing in mind its possible hazards and side effects, the new invention/idea/product is likely to be…
Safe
Development Stage
INVENTION R&D
The research and development necessary to achieve a market ready product, in terms of difficulty and expense, is likely to be…Low
INVENTION PERFORMANCE
Yes, but may require minor changes during development.
DEVELOPMENTAL STAGE
Submitted information can best be described as…
An idea with a prototype.
Solves a Problem
Are the margins for profitability such that there will be a substantial profit? Projected revenues are likely to be…
High
SIZE OF MARKET
For products in the category of the invention/idea/product, the potential market seems to be…
Large, national or broad market
OVERALL CONSUMER APPEAL/DEMAND
Bearing in mind the potential consumers’ overall attractiveness to the new invention/idea/product, the demand for the new invention/idea/product is likely to be…
High
Competition
OUR ABILITY TO COMPETE
Bearing in mind the existing products that the new invention/idea/product will compete with (including price, quality, etc.), the invention/idea/product will likely be perceived as…
Very superior, obvious advantage
QUANTITY OF COMPETITION
Bearing in mind the existing products that the new invention/idea/product will compete with, the barriers to market entry are likely to be…
Moderate