Conducting Market Research on Your Patent

Conducting market research is an extremely important precursor to getting a patent. It is the process that answers the question “Is this even worth it?” Indeed, without conducting market research, you are in essence making a blind guess that someone, somewhere will want to buy whatever it is you ultimately make. This is a costly error, and it is also a needless one. By taking the time to research your market, you can firm up exactly who that someone is and how they will buy your product. You can then proceed to market to them with the confidence that only real knowledge and insight can offer.

So what exactly is market research, and how do you conduct it? The best way to think about market research is answering a series of questions. Each one you answer will unlock some more of the puzzle that is creating and profitably selling something from your patent. That said, you should conduct market research in phases. The first phase is market information.

In this phase, you want to immerse yourself in trade journals, spec sheets, and periodicals about the industry your patent pertains to. You want to discover the prices of various commodities in the market that you will traffic in, the supply and demand patterns that determine the flow of the market. The goal of all this fact-finding is answering the following questions:

1. Who are my customers? (age, sex, income, etc.)

2. Where are they and how can I reach them? (what magazines/newspapers do they read?)

3. What quantity (and quality) do they want? (are there surveys that gather this data?)

4. What is the best time to sell? (Seasonal, yearly, etc.)

The importance of gathering information about your market cannot be stressed enough. As evidence, just imagine trying to seriously go out and sell a product to a market you know nothing about. How would you know where to sell? How would you know how to package it, and in what quantity? How would you know what warranties or guarantees to offer? None of these questions need to be mysteries to you, and if you are going to succeed, they cannot be.

Another important aspect of market research is market trends. This is the upward or downward movements of your specific market during a period of time. Now, the size of a market is obviously more difficult to determine if your product is brand new. But even in this case, you will have to derive your figures from the number of customers in an existing market. Let’s say you have invented a chip that gets implanted into your brain so you can control the TV with your thoughts. This is a new product, to be sure, but you can and must use existing markets to gauge your likelihood of success. For example, you would seek sales figures and segment data about the universal remote control market, which is arguably the closest comparison to what you have invented and want to sell.

In addition to market size, you want to determine information about your competitors. Are your major competitors growing in profitability and size, or shrinking? Which customers are they trying to reach? What are their profit margins? What channels do they advertise through? This information can be obtained by first-hand observation (ie, studying their fliers or commercials, interviewing present and former employees, etc.) or through other sources.

As mentioned earlier, industry trade journals are an excellent source of market research data. Most public and college libraries offer massive electronic databases where these journals can be read, studied, and printed for your analysis. These are often considered the definitive sources for conducting market research, so you would be well-advised to consult them.

In addition to libraries, many trade journals and industry sources can be accessed via the Internet. Yahoo, for example, offers an abundance of such material segmented by industry. Simply click the industry you want to research (law, jewelry, automotive, etc.) and you can browse a list of sources pertaining to them.

7 Things to Know Before Visiting Cusco Peru Tours

Cusco is one of the tourist destinations that many Peruvians choose when to pack up and travel, but there is great uncertainty about whether the budget will reach to know one of the places that houses one of the seven modern wonders like Machu Picchu.

If you are visiting Machu Picchu, in Cusco, for the first time, you will experience some knew things and here are some tips that will improve your whole adventure in strange situations.

Choose the time: You must note that from April to October is the dry season with the cloudless sky. Since November, the clouds and rains that reach their peak in December through March.

Meeting hours: The Cusco Peru tourslasts a whole day. We will move out quickly as we can, to seize the day and avoid the crowds. Another thing you can do is go out in the evening and sleep in AguesClient’s, from there to Machu Picchu the next day morning. You can change Aguesclients’ to Ollantaytambo if you like.

Trekking: Some might want to get walking, but it is not an easy task. You can choose the Inca Trail, Salkantay Trekking to Machu Picchu and Coffee Route. Always accompanied by excellent guides and book your space with several months in advance.

Clothing and accessories: It is advisable to take only what is necessary. Water, a jacket for warmth, sunscreen, hat, insect repellent, and camera. Always have a rain jacket and windbreaker. Machu Picchu is jungle and warm, but the weather changes in minutes, and can rain, cloud and spend a little cold.

Lunch and drinks: It is advisable to get the food in the village of aguesclients before climbing to Machu Picchu. You can also bring your little taper.

You must ask the locals where they eat them, do not go where tourists eat or nearby restaurants to tourist sites, these are commercial, expensive and bad. Explore the markets, eat llama, and enjoy the best experience in a country as lovely as Peru.

About the currency

The currency used in the country is the Peruvian Nuevo Sol (three suns roughly equivalent to one dollar). There are many places where you can change money, for example switched smoothly on the same bus terminal in Tacna. It goes without saying that always look established places to spare potential problems.

Vaccines

You will not need any special vaccinations to enter the country. But keep in mind that if you visit Amazon regions, the Ministry of Health of Peru recommended the yellow fever vaccine. For example, if you go to the city of Iquitos, in full jungle Peru, it is better as a preventive measure you perform the vaccine.

Dudhwa National Park – A Treat for Nature Enthusiasts

Residing in the Lakhimpur and Kheri districts in Uttar Pradesh, the Dudhwa National Park is home to a large number of threatened animal species such as the Rhino and the tiger. This tiger reserve houses two beautiful sanctuaries – the Kishanpur and Katerniaghat Wildlife sanctuaries, where you can spot a large number of birds and animal species. Dudhwa is a magnificent wildlife park which offers its visitors excellent views of its lush greenery and beautiful terrains.

Dudhwa is one of the richest bio-reserves in India; the adjacent Indo-Gangetic plains are credited for the flourishing fauna and flora in this region. This wildlife Park spreads over a vast grassland and dense forest. Over 16 species of reptiles, 38 species of mammals and several species of birds are protected here.

Popular Activities in Dudhwa National Park
• Safaris – The Park offers Safari services for visitors, but you can also explore the place on your own by hiring a jeep or a mini bus.
• Jumbo rides – Elephant rides are a popular attraction at the park; the mahouts will be your tour guide, and they will give you a tour of the park on the majestic animal.
• Tharu Village Visit – Tharu is a small tribal community residing inside the Park. Meeting the tribal village is a great opportunity for outsiders to learn about a unique ethnicity and rich culture.

Best time to visit Dudhwa National Park
December to April is the perfect time to visit the park. Since Northern part of India follows the extreme climate pattern, the summers are going to be boiling, and the winters will be freezing. The park stays open from 15th November-15th June.

How to reach?
• Flight – Lucknow is the closest airport to the Park. You can hop on a taxi from the airport to get to the Park.
• Road – Dudhwa has an excellent road connection most of the major cities and States. There are plenty of State-owned as well as private bus services from neighbouring cities like Bareilly, Delhi, Lakhimpur, Kheri, and Shahjahanpur.
• Train – The nearest railway station to the park is nearly four km away. Other railway stations include Palia which is ten km away and Mailani which is 37kms away from the park.

Where to stay?
Accommodation is not an issue in Dudhwa because visitors have plenty of Dudhwa forest resorts to choose from. Apart from the resorts, you can also find forest lodges, dormitory or forest huts to stay. The Dudhwa forest resorts ensure luxurious comfort so that visitors can experience nature with ease. Camping in Dudhwa National Park is a haven for nature-lovers. If you love wildlife, then you will love the Dudhwa National Park.

Three Proven Strategies to Automotive Marketing

There are many strategies that are adopted by auto manufactures and dealers for marketing of their automotive. Automotive direct mail is a strategy that is proving to very effective. A survey by DM News states that these mails are some of those that are commonly read and 73% car buyers read and respond to these mails.

We cite below some reasons auto manufacturers and dealers have adopted automotive direct mail or ADM as a marketing strategy:

1. Cost-Effective

ADM can be adjusted in any budget. It can be a simple or a complex one. It can be just a “4×6″ postcard or a multipart letter. An intelligent marketer can use affordable pieces for potential customers and the expensive ones for past or current customers.

It is also a very cost-effective and affordable option as you can send a volume of them in very less budget. Many mail companies also offer price discounts for higher volumes. As the volume increases, the more are the savings. The volumes of the ADM can be easily increased or decreased depending on the budget fluctuations.

The ROI is another important factor.

Effective use of direct mails can result in a good ROI. The strategies of direct mails have changed as the technology has advanced. But this yields results even today.

2. Flexibility

The use of ADM can be done for fulfilling any type of marketing goal. It can be used for attracting potential customers as well to send service reminders to the existing customers. We state below some of the common uses:

Announcements of new models
Campaigns for lead generation
Loyalty programs/Customer rewards
Updated to inventory
Service reminders

There are very limited uses of the direct mail marketing strategy. Automotive companies are devising new ways of using this versatile and dynamic tool.

3. Measurable

You can measure the statistics with the help of direct mail. You do not have this facility with radio or television marketing. With the mechanism of response tracking, you can easily track the number of people who have seen your advertisement.

Conclusion

Finally ADM is a very effective tool for marketing. It just needs good amount of planning and research. With this article and the intention of sharing our knowledge on direct mail marketing, we hope that you use this tool to the best of your benefit.

Essential Money-Saving Travel Tips for Beginners

Any plans of taking a break after a few months of stressful work? Then, travelling out of town might be a good idea. To ensure that the hard-earned money will go far, here are some of the budget travel tips to keep in mind:

• Call the hotel first before booking it through the Internet. Though it’s convenient to make travel arrangements online, it doesn’t guarantee to give travellers the best possible deals. It’s recommended to call the hotel depending on the expected time of arrival and speak with a supervisor or manager on duty.

Ask if they can offer an affordable package during the stay. Normally, some hotels would give discounts to travellers who prefer rooms that aren’t as coveted as the others. And for those who are celebrating their birthdays or anniversaries, some hotels offer complimentary upgrades for a night.

• Compare prices of airline tickets. People will prefer to purchase tickets online than over the phone because it’s more convenient. However, it’s essential to make a comparison first by calling the airline and check if the ticket price is similar to what is displayed on the Internet. When purchasing tickets, it’s also recommended to consider the extra fees. Once all of this has been made, go for the one that offers a lower rate.

• Book everything alone. Third parties such as travel agents and booking websites offering services to arrange everything seldom work for free. Normally, there’s an equivalent fee that will go to them. Travellers will save more money by booking each and every element separately through contacting their preferred hotel and airline. By doing so, they will also have the option to contact other choices for price comparison.

• Ask for repositioning cruises or flights. Airlines and cruise lines usually reposition their trips from time to time. it’s cheaper than the traditional trips but also offers similar services to customers. One thing to note though, travel time for repositioned trips may take longer than the usual.

• Avoid travelling during peak seasons. As the number of tourists goes up, the travel cost also does. Though visiting a certain country during Christmas time is a perfect idea, travellers can save hundreds of dollars on flights and hotel accommodations if they can wait to visit once the season is over.

• Share a room with a friend. Stay at the hotel is another essential thing to consider on budget when travelling. There are hotels where room rates for a single person is also the same as the cost of rooms for two persons. Instead taking separate rooms for this situation, why not get a room for two? Aside from the saved money, this will also be a good time to spend bonding moments with a friend while on vacation. Forget about the loud snoring during bedtime though.

• Travel like the locals. As tourists, riding glitzy air-conditioned buses with movies on-board is a convenient option but often comes with a hefty price. Doing this might take away the money that should be spent on exploring other places around the area.

Travelling should not be expensive. All it takes is just the right preparation, timing and budgeting. By keeping all these budget travel tips in mind, everyone can have a wonderful vacation without shedding out too much money from their pockets.

Use of Online Sources for Automotive Marketing Research

Conducting an Automotive Marketing Research can be difficult at times if you do not have the right set of resources. Well, in today’s world everything depends on technology and various tactics that can be used for deriving information. In all these tactics there is a thin line which needs to be followed; this can fetch you results that can give you accurate results. A marketing research comprises of long and short term data. Long term data is that one which helps in understanding the market for over a year or so. This type of data can help a lot in future planning; if you have set any goals for the future time then this is the best source for planning. Short term results or data can be used for 6 odd months straight. It is minimal data that comprises of reports and graphs up to a period of 6 to 8 months and not over a year.

Automotive Marketing Research roughly contains information around the crux of long and short term data. Internet can prove to be beneficial when it comes to such requirements. There are several parameters involved which can be used to retrieve this type of data. Questionnaire is one of the précised and direct method used for generating primary data. Questions are asked and feedbacks are noted down, it helps a lot in knowing the trend which is currently followed by different age groups of consumers. Secondary data can be obtained by conducting a survey method where results of previous tests can be recorded. Conducting a survey is easy because you have the format ready with you; all you need to do is follow the flow.

Internet helps a lot as there are special agencies present which can help in collection of data and information. They can be easily approached as they have their website present. Generating a quote which can give you details is possible; they have this feature that can yield the exact amount required for generation of data. You can even compare between two or more brands at one point of time, internet allows this service without any hassle. For finding out Motorcycle Marketing Research you can approach several firms present in the market. They will give you precise information about secondary and primary data available for planning purposes.

Automotive Marketing Research is a wide concept. There are several automobiles in the section that require precise information for launching and manufacturing purposes. Engine size and the type of motorcycle play an important role in overall planning. It shows the brand when and how to launch the product, not only launching it even tells what type of engine and its size will be better. Complete designing is also dragged in this data that yield sensitive information, such type of data will be worth of millions of dollars. You will be in a position to differentiate your ability and the actual want of the market. Then you can alter and manufacture the product according to the requirement of the ultimate consumer.

Identifying the Use of Composite Materials in Automotive Market

The industries dealing in Composite materials have very good scope as these materials are used in different industries like Aerospace, automotive, construction, pipe and tank. This is why many companies are expanding into this sector and find it to be a profitable venture. So if you are planning to enter into this field then it is essential to learn more about the industry and prepare the market entry strategy before entering into this industry. For this the industries need a good composite consultant, Consultants those are skilled in composite material and component technology.

The Automotive market is one of the most progressive and advanced markets today, one that works with the newest developments in science and technology. The increasing use of composite materials in this industry, in place of conventional materials demonstrates this fact.

Composite Materials are developed out of the combination of two or more materials that have different properties and combine together to create a single, more efficient material. The use of these material in automotive engineering facilitates features like durability, light body weight and increased heat and sound insulation properties. They also have higher chemical and heat impact resistance, strength-to-weight ratios, are much stronger and break resistant, can stand harsh conditions and still perform heavy duty, and offer greater design flexibility in the vehicle they are being used in. Because of these reasons, since their advent, these materials have slowly changed the face of the automotive market in the last few decades. From bikes to cars to launch vehicles and spacecrafts, composite materials are used everywhere today.

Constant developments in the field of composite material have led to continuous improvement in their quality and efficiency, and have increasingly made them more and more useful for the automotive market. The successful use of advanced these material in the racing car industry for making lightweight, robust and durable chassis, that would provide greater safety for the driver, proves this well. The use of Composite materials like fiberglass and carbon composites in automotive engineering not only increases the sturdiness of the vehicle, but also proves to be extremely cost effective, and guarantees heavy duty performance of the vehicle, with much better safety features and design possibilities.

These are mostly used for making the chassis, parts of the body, insulating panels and casing, mufflers and sound insulation parts of the vehicles. Owing to the continuous development in this field, newer and better stuffs are being produced day by day, that are contributing towards the burgeoning growth in the automotive market. New avenues of using composite material to make the automotive market bigger and better are opening up every day. The use of composite materials has given the automotive market its much needed road to progress, and it surely isn’t going to look back!