Market research can help
In order to understand if a product is marketable or can be capitalized on, you would need to consider the industry trends, the target market, purchase preferences for customers, marketing strategies and analysis reports on competition etc.
This is where market research services can be helpful delivering reports such as Market entry reports, Market size and segmentation reports, Market feasibility and trends, Market research surveys, Customer analysis/ consumer behaviour, Risk analysis, Industry reports and overview, Competitor/ opportunity analysis and overview, Brand research, Analysis of the Data and surveys, Information and overview of key player in the industry, Product research inclusive of SKUs, Pricing, Technical Specifications, Design and so on.
After you come to identify the marketability of your product, you will have to see if your idea is patentable or if it is even worth patenting it. So, let’s see how patent research service can help:
How can patent research help?
Begin by understanding what patent and its different types of patent such as design patent, utility patent or plant patent is. Find out which best suits your business requirements and see how it can be beneficial for your business idea.
At the same time, consider doing a thorough patent research to see that your idea has not been patented before by anybody, and thus go on to protect your intellectual property. Under patent research, the services include Right to use/ Freedom to operate an idea or product, Patentability search, State of the Art / Novelty search, Invalidity / Infringement, Licensee identification, Validity of the patent, Determining the owner of the patent, New patenting opportunities and so on.
From here, you can infer that a complete analysis on the basis of the market research and patent research reports will help to confirm that your idea is worth being marketed and will bring profit, thus emphasizing on the need to patent it.
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