Step 3: Verify Customer Acceptance

Focus Group Study:  A focus group is a qualitative research methodology proved to be one of the most effective and economical ways to gather objective, non-biased feedback on a new concept.  No company of any size or significance ever introduces a new product into the market without this form of qualitative marketing research.  The objective of the focus group study is to acquire constructive consumer input and feedback on a new concept that includes, but certainly not limited to likes and dislikes, constructive criticism, suggestions for improvements, pricing parameters, product benefits, etc.

Market Research Consumer Demand:  Consumer demand is usually analyzed by conducting direct responses from the target market sector.  A direct response survey is the most cost-effective method of gathering this information.  A statistically appropriate sample of respondents who are the most likely to use/buy a concept are interviewed by questionnaire to gather quantitative information concerning the new concept.  The data is then tabulated and examined for relevant information and statistical significance, after which a conclusive report is written based on the findings.  This data provides the inventor with factual results from potential consumers that can be extrapolated into the total population and used to develop appropriate market projections and sales forecasts.