The Market Exploratory is a collaborative review and assessment of a potential new market or category. The exploratory is typically undertaken in three phases.
Market Screening
A fast web-based search and data compilation and review designed to answer critical questions concerning the market opportunity.
• Market screening usually requires one week for data collection and preparation of a preliminary market assessment report.
Market Assessment
For those opportunities that warrant further effort, a comprehensive review and assessment of the potential new category, relevant market trends, competitor strategies and communications, the market opportunity, and infrastructure and resource needs.
• The Market Assessment includes recommendations supported by a detailed report and extensive back-up data, and typically requires four to eight weeks to prepare.
Market Intelligence
Primary market research designed to the hypotheses and conclusions that emerge from the Market Assessment. This phase typically consists of qualitative research with potential providers and/or customers; written summary report provided.
• Quantitative research may also be recommended as project needs, timing and budget allow.