As innovation moves from the lab to the market, a new research phase begins for the entrepreneur: the market research phase. Inspired by a new technology that can change the world, critical questions need to be addressed. Is there a market for my innovation? Who are my clients? What do they need? Is my innovation filling that gap in the market? Who are my competitors? How are they approaching the market? If these questions are unaswered, entrepreneurs meet potential investors or partners with only a basic understanding of their market. The objective of this book is to fill this gap. It is a practical manual that gives entrepreneurs real-world advice and tools to build a solid market model. The book provides tips, models and tools entrepreneurs can use to collect, interpret and present their market and integrate it into their business plan. What the entrepreneur learns in this book will help him throughout his journey. After going over the market research process, he will learn how to design and use a number of market research tools, and how to adapt them in a life science context.
From building a web survey to preparing interviews to doing your own secondary research, this handbook will help him gain a comprehensive understanding of how to perform his own market research activities and how to analyze his data. Finally, a number of frameworks (such as the TAM-SAM-SOM as well as the KANO Model) are described so that he can efficiently share what he has learned, using models that simply yet effectively shares findings.
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