INVENTION MARKET ANALYSIS

A "market analysis" should not be confused with a "marketability evaluation". A market analysis merely considers trends, consumption, users and types of products in the market of your invention. Many unscrupulous "invention promoters" sell only a market analysis to inventors and not a marketability evaluation which is really needed. Though it has some useful information, a market analysis has limited value to inventors since it does not tell them anything about whether their invention is potentially marketable.

Below is an example of the significant differences between a "market analysis" and a "marketability evaluation" for a new toothbrush invention that brushes teeth 25% faster than conventional toothbrushes called SUPER BRUSH.

MARKET ANALYSIS

10,000,000 toothbrushes were sold in 1998
4.4 Billion people in the world use toothbrushes
2.3 Billion people replace their toothbrush every year
Toothbrush sales are expected to top 12,500,000 in 1999
The average price for a toothbrush sold in 1998 was $2.75
The average cost to manufacture a toothbrush in 1998 was $0.35

VS.

MARKETABILITY EVALUATION

85% of consumers do not care if they can brush their teeth 25% faster
There are over 250 different competitive products in the toothbrush industry
The SUPER BRUSH is heavier than conventional brushes so they are less desirable by consumers
The SUPER BRUSH requires extensive training by a professional to ensure proper usage
Consumers of toothbrushes do not change types of toothbrushes easily

By merely looking at the "market analysis" it appears that the SUPER BRUSH would be a great invention to invest thousands of dollars into which is exactly what some invention promoters want you to think. However, by considering the "marketability evaluation," it is obvious that the SUPER BRUSH does not have much of a chance for making it in the toothbrush market. A smart inventor would probably not spend anymore time or money on the SUPER BRUSH without further research and would be able to invest their time/money into their next invention!

Michael Neustel is the founder of the National Inventor Fraud Center, Inc.