A ll inventors would like to see their idea being made into a product that is sold and used. It is the culmination of all their creative work from inspiration to design. It represents a substantial financial investment to protect their idea and introduce it to manufacturers. This article will take a closer look at marketing reports compiled by invention marketing companies. Market research utilizes surveys, either through the mail or by telephone, designed to elicit consumers' opinions about their buying preferences.
Test marketing can take two forms.
One, the glow in the dark fishing tackle can be distributed to stores in a specific geographic area and sales tracked. Two, samples of glow in the dark fishing tackle are given to people who like recreational fishing and their opinion about the product assessed. Market research and test marketing are useful tools to gather marketing information about a specific product. A marketing report contains readily available, generic information about a total industry, such as the fishing industry, and nothing about any individual product. The invention marketing companies are also careful to disclaim any guarantees of success.