Assuming the results are favorable, the report you receive at the conclusion of the project can be an important and compelling part of the eventual product presentation that you will prepare for either attracting apotential licensee or obtaining funding for your start up business.
You are undoubtedly saying to yourself, “This all sounds great, but what is the catch?” You are right. There is a catch. Class projects usually take an entire semester to complete. If you are in a hurry to get the results of a marketability study then you will have to pay for the quick results by hiring one of the legitimate professional firms that perform this service. If, on the other hand, you are trying to save every penny possible, it may be worth it to you to wait a semester for the results. It’s your call. Colleges and universities are not the only sources of free marketability studies. High schools all over the country are starting entrepreneurial programs for their students. Often these programs are willing and anxious to perform market studies, surveys and focus groups for new products.
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