We've been developing an idea for a company which targets an emerging
industry which we believe will begin to come to fruition in the next 5-10
years. However, in putting together our proposal and attempting to conduct
the market analysis, we've been largely stone-walled due to the fact that the
industry has yet to be developed. Does anyone have any suggestions on how to
perform a market analysis before the market even exists?
BizResearcher | Window Shopper |
1/16/2013 - 11:44 am
Is there an existing industry that is close to the new one? If so, you may be
able to use information for that industry as a basis for your market
analysis.
Is there an existing industry that is close to the new one? If so, you may be able to use information for that industry as a basis for your market analysis.
There is currently a (very successful) market for a non-proprietary product
which just so happens to be the gold standard for the industry. However, the
current market is very limited and realistically is concentrated on a single
application (e.g.: cancer). Nonetheless, with the recent progress in the
associated field, the scope of the field is going to broaden quite rapidly,
we believe. In order to put together a reasonable business proposal to go
after venture capital, they'll be expecting realistic numbers, but those
numbers are largely unavailable. Thus, my conundrum.
JGabriel | Community Moderator | 1/16/2013 - 1:20 pm
BizResearcher | Window Shopper | 1/16/2013 - 11:44 am
able to use information for that industry as a basis for your market
analysis.
acrunkle | Window Shopper | 1/16/2013 - 5:29 pm
which just so happens to be the gold standard for the industry. However, the
current market is very limited and realistically is concentrated on a single
application (e.g.: cancer). Nonetheless, with the recent progress in the
associated field, the scope of the field is going to broaden quite rapidly,
we believe. In order to put together a reasonable business proposal to go
after venture capital, they'll be expecting realistic numbers, but those
numbers are largely unavailable. Thus, my conundrum.
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