What is Success with Market Research?

A good market research report can cost you thousands of dollars.  And when I say good, I mean a report that helped you make one of your difficult business decisions:  Should we buy company X, should we invest in industry Y, who are the competitors we should fear, who are the customers we should go after?  Market research is helpful when trying to make an affirmative decision--should we enter this market--and it can be equally helpful when it informs on what to avoid.

The following MarketResearch.com success story describes how a client will often purchase market research reports to understand and identify business opportunities for their technologies:

An example of this is a client that purchased a report, World Membranes, as part of its investigation into the commercial potential of applying nanotechnology to water purification and reverse osmosis processes. The application, if successful, would have implications across virtually all business sectors that that require ultra clean water for production processes.

Their research led to the establishment, several months later, of a joint company to commercialize this technology. As stated in the press release at the time, the client said it “has begun a project to produce nanostructured membranes for water purification. The products to come from this project are membrane plating and membranous roll-fed modules that are used in the process of filtration and reverse osmosis.”

Participants in the project, which was estimated at $63.7 million, include the client, another company and an outside investor.

According to a statement issued by the project participants, “Membrane technology is widely used in all areas of industry that must purify water and/or treat sewage. The use of membrane technology in electroenergy, microelectronics, pharmaceuticals, and the food industry reduces costs in obtaining water that is ultraclean, salt-free, and free of dangerous microbes. Membrane technology is used to reduce costs for sewage treatment and to obtain concentrated solutions in the chemical and milk industries. Realization of the project will permit [companies] to replace imported analogs with domestic products that have better consumer qualities.”

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