Scoop Image Works | Marketing Research

New Product Concept Testing
Project Overview
Client: Anonymous
The primary objectives were to:

identify market segments, and determine if they were measurable, quantifiable, and accessible
collect data on start-up capital needed to fund the venture including consideration for square footage and the cost of the interior build-out
analyze costs to determine if, and at what point, the business could be profitable and the number of customers required to make the idea a viable income opportunity

Methodology
Even if the costs were feasible, surveys were conducted to assess appeal to consumers and purchase intention if the product existed. The primary confirmatory data collection was accomplished by showing a visual representation of the concept to potential customers and then asking key questions.

Financial models including three years of income statements, loan amortization schedules and start-up cost analysis to determine break-even and profitability.