An idea by
Liam Tremblay posted in
Internet Software & Services
on 26 Jan, 2024
Virtual Marketplace for Market Research
Problem:
Companies spend a significant amount of money on market research, but often only use it once. This means that the research is not being used to its full potential and companies are losing out on valuable insights.
Solution:
A virtual marketplace for market research would allow companies to buy and sell market research reports. This would enable companies to access research that they would not otherwise be able to afford, and it would allow companies to sell research that they no longer need.
Benefits:
Cost savings: Companies can save money by buying research that has already been conducted.
Access to a wider range of research: Companies can access research from a variety of sources, including companies in different industries and countries.
Improved decision-making: Companies can make better decisions by having access to more information.
Increased efficiency: Companies can save time and resources by using research that has already been conducted.
Target market:
The target market for this business would be companies of all sizes that conduct market research. This includes companies in a variety of industries, such as consumer goods, technology, and healthcare.
Business model:
The business would charge a commission on each transaction that takes place on the marketplace. The commission would be based on the value of the research report.
Marketing plan:
The business would market its services through a variety of channels, including online advertising, social media, and email marketing. The business would also target specific industries and companies with its marketing efforts.
Financial projections:
The business is expected to generate $1 million in revenue in its first year of operation. The business is expected to be profitable within two years of operation.
Conclusion:
A virtual marketplace for market research is a viable business opportunity. The business has the potential to save companies money, improve decision-making, and increase efficiency.
