Monday Market Tips- Aarkstore Blog

Market Research Tips for Inventions and Patents in 2019

Market Research is an important step for any product and service. However, most of the time it is skipped. Inventors want to know about their target market for their inventions. Before investing for invention, the worthiness of the product should be gauged. Here market research comes handy. 

Usually, inventors tend to conduct prior art searches before introducing new products. But, prior art search is associated with inventions and patents. Many innovations never become products and services. Because there are no proper statistics available. Hence, most of the time prior art search is conducted. 

Prior art search only finds the details about existing knowledge. But that is not sufficient to bring your innovation in the market. To find that invention is innovative, there arises a need for research. 

To introduce your invention in the market, market research is essential to know the market trends as well as intercepting the generation of already existing ones. 

Market research provides a detailed evaluation of different markets related to inventions, patent environment, persisting and future products. Market research helps to understand market size, market needs, and competition.

Role of the Market Research in inventions and patents: 

  • The market research reports provide information about various markets as well as the top active market. For example, if an invention is supposed to be used in 20 different industries, from which 15 are the top active industry, then the market research reports advise the appropriate industries for the invention product. 
  • Competitor analysis is apparent to introduce any product or service. The market research helps to analyze the competitors in the market, to identify technologies competitors they are using and products they will be introducing or already have introduced. This helps the inventors to touch the area competitors haven’t touched.
  • The understanding of the market trends, active companies, patent drafting is at ease. The patent drafter can prepare a clear and proper patent application that will add more value.
  • Market research reports also offer information about the leading companies. The reports provide knowledge about technologies, products similar to that of the invention. This helps to understand the newness of the invention. By gathering the information about leading companies it also helps the inventor for business partnerships and licensing. 

Inventions and patents is a long process. Hence, it is suggested to conduct market research to bring the ideal product in the market. Market research helps in deciding which product or service to take in the market first that will be beneficial.

food-research-markets

Food Robotics Market Trends 2019

Recently, Starship Technologies has rolled out its robot delivery service to one of the U.S largest universities, UW-Madison. The university has deployed 30 robots for food delivery in the campus. 

Robotics has changed the way the food industry used to work. It is transforming most of the sectors of the food industry from manufacturing, packaging to delivery and tracking. 

This is not the first university to deploy robot delivery service. Many universities have already experimented and results were fruitful. 

These robots are the small box type tiny vehicles that can carry weight up to 20 pounds. The delivery is fast-moving depending on the item and distance. 

The Gen Z population is advancing and they want services from a few taps on their smartphone. Colleges are finding ways to offer students convenient ways to order food to save time. 

The recent global food robotics market research report suggests that the market is expected to grow at a substantial rate by 2023.

Robotics in the food industry has improved the efficiency of the working process. Many food processing and packaging companies are adopting robotics as well as artificial intelligence to improve food safety, reduce workers’ injuries and systematize the process. 

Robotics is empowering food manufacturers to keep records of the consumers. It is assisting manufacturing companies to track the products and demand of the market. This has helped manufacturers to keep abreast of growing trends of the market and accordingly match the production. Robotics handle food safely to prevent any contamination.

Due to the growing concern for food safety and hygiene, many new companies are emerging to come up with cutting-edge robotic technologies. 

KUKA Robotics, the leading manufacturing company of Europe that provides robots for the entire food industry process chain.  They have a wide range of robots that serve various needs of the food industry. The robots are designed for hygienic maintenance,  food packaging, custom processing, and logistics systems and for the food processing industry. 

The adoption of robotic systems has observed the growth of several food sectors such as meat processing, dairy and dairy products, and ready foods.

Also, other technologies are revamping with food robotics. For example, machine vision technology is highly used in food robotics due to its use for food quality assurance.

Recently, Singapore’s Food Tech company have launched the country’s first robotic concept restaurant. The restaurant is fully-automated, includes taking orders as well as cooking. The food is prepared by the robot chef, D.I.A.N.A, manufactured by Epic Food and Beverages.

Is there any risk factor involved?

The concerns raised when high-tech Henn na Hotel in Japan where robots are in service, reported that its robots in the room can be hacked. The questions raised for the security of other machines as well. 

However, there is no reason to worry about hacking. Food data usually collect data on Who bought what, what time of day it was, where were they, what was the weather outside, how much did they spend.

But attention should be paid to how the data is used in the food industry. The consumers are not aware of what they are signing up for. 

Food demand is increasing with the increasing population. The food suppliers are under pressure to serve the demands.  The companies are adopting robotics for countless reasons. The food robotics market is projected to see lucrative growth.

Competitor's Analysis

5 Proven Ways That Market Research Pays!

To run a business in the era of competitive age, the adoption of a valuable and effective strategy is crucial to make a quality business decision to sustain in the market. There are many risks and threats businesses have to go through.

Market research has emerged as a rescue for many business organizations.

Market research lays out solutions to the challenges faced by businesses.  It is a vital source of relevant data used for several business decisions.

Here are some points that discuses how market research has helped and is helping businesses to grow to their full potential.

1. Identifying the target audience

Target Audiance

What if you don’t know anything about your customers?  What do they want? What do they expect? The market research answers all these questions.

It helps you to identify your target audience. It helps you to figure out the full profile of your ideal customer. 

By identifying your audience it becomes easy to ascertain the market size and factors that prompt them to buy.  The market segmentation can tell if you are targetting the right people in the right place. 

By knowing the right audience, you can achieve faster results with great efficiency. This will result in the proper delivery of services than your competitors.

2. Assess the competitors

Competitor's Analysis
Competitor’s Analysis

Competitors are the ones that can take away your customers. Hence, identifying and assessing the competitors is an important aspect if you want to sustain in the market. 

It helps to assess the key players and also emerging competitors. Analysis of the competitors helps to find your drawbacks and weaknesses against the competitors. 

Thus, you can modify your strategies and optimize your USP against competitors to stay ahead and gain more customers. It also helps you to analyze what worked the best for the competitors and hence you can enhance your strategy creatively. 

The more you know about your competitors, the more beneficial for your business.

3. Introduction and testing of new product

Market research helps you to bring that product in the market which customer demands.  Through this, you can first analyze the factors such as consumer type, locality, and past experiences to find the reliability of the new product. 

If you are launching a new product, research will prove beneficial for testing the products at various stages of development. Market analysis should be used as an elementary part of the development to assure that you are not wasting time and money on non-productive ideas. 

Also, it will dismiss the delivery of bad products in the market that can defame your business.

4. Optimize brand strategy and positioning

Brand Strategy
Brand strategy

Many business organizations are often stuck on their branding. Market analysis helps to analyze the following questions that strengthen the business brand strategy and positioning. 

  • Brand Awareness: Are customers familiar with your brand?
  • Personification: What features and traits can attract customers to the brand?
  • Brand strategy: Do your strategy and ideas improving your brand image in the market? 
  • Brand positioning:  Is your brand the most preferable by customers against the competitors?

With the research report, you can answer these questions to prosper your brand image and improve your marketing assets.

5. Improve decision-making with reduced risks

The market research provides a qualitative and quantitative analysis of the market that you are looking for. MR provides an in-depth market overview, factual data and key insights, consumer survey, and analysis with the detailed study of past, present, and future of the market. The findings aid you in assessing the market, thus evading from risks and making an informed business decision.

Market research has an immense role in the business in today’s competitive age. It is a vital step before making any business decision for fruitful results.

7 Global Water Treatment Companies to Watch

Many of the top tier water treatment Companies provide chemicals and equipment, on the other hand, others make a niche for their provisions. As per recent water treatment market research, the following are the organizations which you should watch out for in 2019. 

Danaher: 

It’s a multinational firm providing chemicals and water equipment globally. Conventional water filtration equipment, various UV disinfection products, membrane systems, etc. are some of the offerings of the company. Danaher happens to be one of the important market contributors to water instrumentation and services. 

DuPont: 

It is another key player in the water treatment market. The organization offers equipment and chemicals both including membrane systems and biocides. The company took over Dow Chemical Company’s operations for water treatment chemicals in 2019. 

Ecolab: 

Ecolab is one of the largest global water treatment companies. It supplies hygiene and sanitation service, chemicals, equipment, and several other advanced water treatments. Disinfection equipment and conventional filtration are some of the key products of the company. 

Evoqua Water Technologies: 

Evoqua Water Technologies ranks in the top five manufacturers of water treatment equipment. It has a dominant global presence majorly in the regions such as China, Europe, the US among the rest. 

Kemira: 

It is a public Finnish Firm which is known for its chemical products for the applications in the water treatments. The company offers its services to regions such as North America, Middle-east and Europe. 

Kurita Water Industries: 

It is a Japanese firm of chemicals and water treatment equipment. The organization is popular for its brands such as Osmotech, Ferrolix, Ferrodor, Corrasave, Cetamine and Aktiphos.

Parker-Hannifin: 

With its selective range of water treatment products and services, Parker-Hannifin happens to be focused on filtration production through domnick hunter process filtration division, the Parker Village Marine division. The company is otherwise famous for its motion control products in the space, marine, aviation, industrial and automobile sectors. 

The aforementioned companies are some of the global market giants that are making the water treatment industry a competitive landscape. With their constant research and development projects, the companies always make it to the upcoming trends in the global industry.  

Market research ideas which help Businesses thrive

Market research is a definitive collection and analysis of information. This has been put forward with a lot of consumers and competitors taken into context. Marketing programs are also made effective with the right market research techniques.

For any startup market research is a crucial element. The usefulness mostly resides in the profit generation of established businesses. The accurate information put forward by a market place, allows target customers to know about the business. Further, these market research reports also befriend a competitive environment and marketing plan.

So why do business owners leverage on market research ideas to manipulate the statistics?

Determining the future feasibility

Market research has always been an essential component in a startup business. The profound approach put forward by them gives the business a thriving ground to showcase the platform. This, on the other hand, put a good demand for product and services to get fulfilled from the customer domain.

Testing the interests of new products

The interest in new products and services respond well to customer needs. But that needs to get developed and expand amid the new ones. The ideas of a market research domain do help in the expansion of new services to customer demand. They substantially help the rising customer to see what products are being sold in the current approach of new companies.

Monitoring industry and Economics

A variety of researches help in monitoring industry trends. When industry trends are monitored, they give more inclination to economic divisions. Altogether the economic trends help in the growth of a newly launched business adapt to the changing environment.

Conducting market research itself takes a more tedious process than one can barely know.

The trials and studies- Samples of new products are always provided to customers while setting and gauging responses. Customer feedback remains an important aspect in making a variety of changes which is required for optimal pricing. These trials further suit the business needs and food services which can result in disposing new items to the market.

Product trials or usability studies – Providing samples of new products to customers in a live setting and gauging the response can be very effective. Direct customer feedback can be used to make changes to the product or determine optimal pricing. Product trials are ideally suited for businesses like food service establishments that wish to test new menu items.

Organized and Focus groups- The organized sessions with a group of people give an analysis of Q and A session. These take place within a moderator. Focus groups have the ability to collect much potential information which is thereby difficult in organizing. They also have an expensive method of various market research needed for small businesses. These groups are increasingly being popular in the online domain.

 

 

The importance of Market research and strategic decisions

In the current shape-shifting business landscape, an ability for making effective data-driven decisions are being crucial for a number of essential market research  operations.

Decisions are plenty and in every scenario, there are ample of opportunities for making a change. A Managing director who has to make a large acquisition is to take a strategic decision. On the other hand, product developers, as well as management consultants, are also relying on such decisions. These people are having a loophole of experiences and get instincts which can affect the thinking and planning in the future. As a need, they should fairly incorporate the high-quality data structure and analysis into the decision-making process. This can help them understand the bigger picture and also persuade the stakeholders, further backing up conclusions.

What can be greatly noticed from the examples is risk has been an important aspect. A simple wrong moment can lead to very severer consequences, affecting the individual’s career and further the sustenance of a company. The competition in today’s time has been greatly fierce and the margin for an error is quite thin, so any faulty assumptions can be detrimental in the overall process.

Since the start of the millennium, most of the big companies which have been in the Fortune list of 500 have been either slashed, merged or worse, got bankrupt. The generation of further enhanced companies has been showing up with creating a unique shift of business strategies for a better tomorrow.

While predicting and forecasting can help at the time, it’s not always the best option. As the existing businesses and scopes can largely be either under predicted or overestimated. Certain acquisition of data and quality assessments have to be going on to leverage the ideas on the companies and identify major potholes. These potholes prove fatal in customer satisfaction rates. Therefore, the essential factor should incorporate a stringent analysis further in driving decision-making and get it done in a timely manner. This can be done by market research companies, acting as third party assistance which protects the companies in many ways.

 

 

Researching your clients for market research!

Client’s needs are a lot of priority when it comes to the information they demand. With the current explosion of companies, a lot of trends go on with some irrelevant things to help clients with. Market research priority demands the baseline of understanding customer expectations.
Currently, the thin line of gathering enough research from publishers and accounting them to clients is on a tedious side. So putting forward the need to make the steps easier for clients is the call for the day. Below are some ways where clients can get help in preparing ahead of the changing landscape of market research.

The feedback!
Listen to your clients, if not personally, statistically. Opinions matter a lot, be it in bulk or small. When clients are unhappy about a report, it is a dead end. Market research reports cost a lot, so no matter what happens in future an unhappy client is surely not coming back. Client feedback will, therefore, help in putting aside major differences in understanding. Feedback options help a lot of processes these days, mostly in avoiding approaching a major list of publishers who do not have relevant content.

The opening part!
The reports that are opened primarily, is the first thing a customer holds on to with. Also, samples can be made accordingly, if there is a demand for a particular style. This will further help in fetching clients who can largely rely on the opening reports. Segmentation will be also a determinant, by reviewing what content is there inside the report.

Questions!
Most of the time, asking relevant questions to self is the best way to know about a market. The vision is not always as what is the best, but rather if the thing really fits. At times certain reports can seem logical enough to attract a crowd but fail in doing so. Therefore, often there is a need to ask relevant questions. These questions can also be answered on the client side, which largely improves the solution making. Some companies at a time use a syndicate research module to set analysis they did for themselves. These kinds of organisations would rely heavily on metrics. The competitors would be looking further to expand the markets which they aren’t familiar with. This is where the industry details come into existence, and questions about knowing consumer preference make the move.

Rejecting the bad publishers.
New publishers show up every moment. Clients are often not sure where the content is generated, and surely the bad experience will not come up front. It is therefore of an utmost need to determine the best publishers from the worst ones. Not an easy task, but helps in the long term to hold the base for clients. Potential quality is even increased with the right market research content. Few of the points to take care of are:
-Know the origin of publishers
-Check the website to know how long they have been working
-Are they quite functional and professional in delivering the content?
-How costly are the contents that they provide are
-Are the language and grammar good on the website?
-Do they produce on actual produce the market research content?
-Do they list the number of analysts they have been into account for?

It is not easy to follow the above process largely when there is an organisation to look for. Nevertheless, it is pretty much required to gear up the potentials and make a move for the clients. As clients are the base ground for various reports, the retention of each client is therefore necessary.

Amazon’s new influence on customers- Prime Wardrobe.

amazon primeThe recent commotion surrounding Amazon is the Prime Wardrobe option which is making its way onto the UK market. The concept driven by Amazon involves consumers and users to allow themselves to select three or more pieces of clothing apparels. This also accounts to footwear and accessory pieces which they can decide to keep or return. This does put a different type of shopping experience altogether, with shops not going into the payment mode until the online purchases by customers are complete and testing is done.

The retail service is a multi-channel process which aims in blending the convenience of online shopping with all the necessary elements of buying, starting from the base. Market research reports survey several customers and found around 30 per cent preferring store shopping as the need to feel and touch the products before buying is an important note to consider. The rest percentage of customers clearly prefer online shopping and consider them as a convenient and easier process to continue. Consequently, prime wardrobe’s functionality is taken into account making both of the customer preferences. One can try products that are available online but can even have trials before making the final move.

Prime wardrobe came into the picture after a year of beta testing of the product in the United States. Japan got into the process and made a positive review of the testing. Currently, UK is the subsequent country to join the service provided by Amazon. The reviews were overwhelming and positive from a consumer point of view. People put forward instances where they are trying new dresses and shoes, just like they do on shopfronts.

Ordinarily, private label clothing brands in general Amazon site perform worst as to other brands in the category. Expanding the accessibility of Prime Wardrobe puts a chance for visibility among the subsequent clothing brands. Consequently, Amazon points out that the private label brands are top selling items that are making a new trend in Prime Wardrobe function.

Globalization making a sharp change in environmental degradation

The planet is always on the brink to collapse. What human beings brought up to this orb, and what they are drawing on every second is always a matter of concern, promoting environmental degradation. Disasters can be natural and man-made, pertaining to a great extent, along with poverty and pollution to count. Consequently, the world is fighting these backs by making amends in various meets, specifically the United Nations strata.

These few things listed, are accounting as a measure to tackle the subsequent effects of man-made or natural issues.

Refrigeration/air condition is one of the sole reasons of global climatic effects, the neon gas takes into a large consideration of ozone depletion. This can be modified with some level of equipment such as Nitrogen gas to be used in freezing processes. Additionally, afforestation is also on the list of affecting several tangible phenomena, coinciding with some natural disasters.

Certain modified data provided by various analysts, including Frischman, points several other factors like Solar Farms, Education of Females and even implementing plant-rich diets being a major driving factor. These processes get a direct or indirect view on the listing of change happening worldwide. Consequently, how much carbon dioxide, in terms of gigatonnes are into emissions each year, is recorded and the sole aim lies in cutting it in a span of three decades.

The overall cost of manipulating the planned process is fairly huge since the involvement of many factors contributes. Ordinarily, over the next few years, an anticipation of around 1 trillion Dollars is projected to be lashed out in the sustenance of the methods.

This estimation points out a more enlarged global GDP of over 80 Trillion Dollars a year. Subsequently, Frischmann points this is less than 1.25% of the price for the potential strategies of saving the planet from the verge of destruction and global meltdown.

 

 

The U.S sets new trade off on China trade!

U.S sets new trade off on China tradeThe current phase of US-China trade wars is not looking to take any pause soon. Consequently, tariffs of 200 Billion Dollars is on the go with President Donald Trump moving ahead with US imports of Chinese goods. As such import duties will be more viable with this current decision quotes Market Research Reports.

The whole Scenario.

Ordinarily, there is already 50 Billion Dollars of tariff on nearly everything America buys from China. In fact, China accounts for the largest source of imports for the USA. Currently, with the decision on board, the country is subjecting duties on those imports.

China’s Prospect.

China, on the other hand, is reviewing certain steps for sending delegations to Washington D.c. This would be a necessary action in the light of the U.S decision. Consequently, even a daily of China, made a statement about Beijing raising risks of prolonged trade battles. Market research domains cite this could be a battle between two of the world’s largest economies, hitting global growth.

The starting point of Trade revenue.

The tariff collection starts on September 24, 2018, on the other hand, the rates will only increase by the end of the year. This due to the fact that current U.S companies are suggesting time constraint to adjust supply chains to different countries.

Current situation cites the United States imposing around 50 Billion Dollars of Chinese products, pressurizing Beijing to make sweeping changes. Additionally, technology transfer and high tech industrial subsidy policies are also on the target.

The tariff’s effect will be showing gradually with China’s fourth-quarter data. Furthermore, the full impact of a 25 percent tariff will be seen the next year of 2019. The growth rate of China’s Gross domestic revenue is also on the target by 0.83 percentage point.

China’s Economy.

Consequently, the negative impact on China’s economy will be merely 0.7 percent. However, the yuan currency of China is less of about 0.3 percent from the U.S Dollar. The 6 percent slide from June aggravates the 10 percent tariff rate at the considerable margin.