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- Market research can complement early design work, assist with fine-tuning features and pricing, help attract investors, and suggest new directions to explore.
- It is critical to know where a startup is in the design process, from whom it wants feedback, and what it intends to do with the data gathered.
- As a general framework, it is useful to think in terms of three main blocks of the product development life cycle—early stage, middle stage, and late stage.
- Consider seeking help from research professionals whenever possible. There are many measurement-oriented and other practical considerations to account for, and a number of good resources a startup can turn to for help.
- Good research answers key objectives, and is customized to fit within a startup’s very real time and budget constraints. Addressing key questions up front will lead to more actionable results.
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"Conducting Insightful Market Research,"
Academic Entrepreneurship for Medical and Health Scientists: Vol. 1
, Article 4.
Available at: https://repository.upenn.edu/ace/vol1/iss4/4