Feasibility Studies for Entrepreneurs

**jasaunders** · 04-22-2008 09:26 AM

...are a must. You need to know if a market exists for your product or service, what the market size is, who your target market is, and if they are willing to buy from you. Before launching any business, you need to have detailed market research.

Primary research can be expensive. Professional firms cost thousands or tens of thousands of dollars to conduct research on your behalf. Secondary research can be hard to find and may not specifically match your needs.

That is why I am introducing a new tool for entrepreneurs to use to conduct primary market research surveys. We have the respondents pool and allow you to choose the exact demographic and psychographic criteria. For as little as $30, you can find out the opinions of 100 people in your target audience, or determine who exactly your target audience is. That's a cheap price to determine one of the most critical factors of whether a business will succeed or not. A professional focus group, phone or face-to-face targeted interviews would cost you over $10,000.

Coming soon...

**rogercbryan** · 04-22-2008 12:07 PM

Originally Posted by jasaunders

...are a must. You need to know if a market exists for your product or service, what the market size is, who your target market is, and if they are willing to buy from you. Before launching any business, you need to have detailed market research.

Primary research can be expensive. Professional firms cost thousands or tens of thousands of dollars to conduct research on your behalf. Secondary research can be hard to find and may not specifically match your needs.

That is why I am introducing a new tool for entrepreneurs to use to conduct primary market research surveys. We have the respondents pool and allow you to choose the exact demographic and psychographic criteria. For as little as $30, you can find out the opinions of 100 people in your target audience, or determine who exactly your target audience is. That's a cheap price to determine one of the most critical factors of whether a business will succeed or not. A professional focus group, phone or face-to-face targeted interviews would cost you over $10,000.

Coming soon...

I would 100% be interested in this service. Not only for my new ventures but also for some of my consulting clients. Please keep me updated as to when you are going to launch this service. I have a new company/site going to beta in 2-4 weeks. I'd like to give your service a try before I start my marketing.

**jasaunders** · 04-22-2008 01:30 PM

Sounds good, will do.
I originally came up with this thing to help myself with all of my ideas and to try to get some primary data and opinions without paying a fortune for it. I realized other entrepreneurs have a similiar problem. You don't want to invest a lot of money before you know if the business idea will be marketable or not. Hence I decided to develop it into a commercial tool.

It's in development, about 4 weeks out from completion.

**RLorenzen** · 04-22-2008 01:34 PM

Definitely send me a PM when the business is launched. I am 100% interested too.

**capforge** · 04-22-2008 02:07 PM

Are you also going to help people create the survey questions? In my experience, creating credible market research surveys is not a trivial task, and not something the average person is capable of easily creating without some specific guidance and coaching.

If you don't provide this kind of help, what is the differentiator between your service and zoomerang or any of the myriad other competitors?

**jasaunders** · 04-22-2008 02:29 PM

Originally Posted by capforge

Are you also going to help people create the survey questions? In my experience, creating credible market research surveys is not a trivial task, and not something the average person is capable of easily creating without some specific guidance and coaching.

If you don't provide this kind of help, what is the differentiator between your service and zoomerang or any of the myriad other competitors?

Yes, this is provided for an additional fee.

With Zoomerang, Surveymonkey or most of the major competitors, you need to invite survey participants or pay their exhorbant fees to use their participants. With this service, we already have the survey participants; you just chose which ones you want by narrowing down by age, gender, geography and psychographic information. The fees are given upfront, are straightforward, and cheaper than competitors. On Zoomerang for example, you have to fill out a form to get a quote from the company.

**GuyBBY** · 04-22-2008 02:37 PM

J- please PM me regarding this once it is live. I am sure you will post here again though.

I am looking to expand my business into other markets in New England...will your research cover this? I have our marketing guy working on this now, and while we are able to collect viable data, $30 is a bargain to get further insight into these markets, as we know we have to tweak some aspects of our business model for a few of them. (Fee schedule, what features the market will use more will vary region to region, etc)

Guy

**jasaunders** · 04-22-2008 02:53 PM

I'll announce again as it gets close and launches.
The tool will cover anywhere in the U.S. and many international locations as well.

**Gaulkin** · 04-22-2008 03:13 PM

Sounds like a great website that isn't around yet, good luck.

**capforge** · 04-22-2008 03:32 PM

Originally Posted by jasaunders

we already have the survey participants; you just chose which ones you want by narrowing down by age, gender, geography and psychographic information.

They (the competition) already have the survey participants and selection criteria, too. So it really just comes down to competing on price and price transparency?

I think their fees might not be as exorbitant as you think when you factor in the costs: participant acquisition, participant compensation and customer acquisition, which makes competing on price a more difficult proposition. I will be interested to hear the results if you decide to share them.

**jasaunders** · 04-22-2008 04:13 PM

My business platform is not the same, my participants are not the same, the surveys are being conducted in a different way, and participants can be targeted very specifically to the survey makers exact specifications. I just haven't explained the concept behind it

But from a marketing perspective, one of the key competitive differentiators will be on price. But the costs are significantly lower.