Rocket DAO Expert Community is making evident progress day by day. Today we are introducing to you an alternative methodology for the project’s market potential evaluation developed by Alexander Drobyshevski.
Just yesterday we held another Expert meetup where we discussed the new methodology which was cheerfully accepted by the Expert Community. Being sure of its correctness we are glad to introduce a new approach to the startup's market research.
This approach is based on 4 key components:
• Market type: these are specific average parameters like market geography, market age, growth rate, rules, and segmentation;
• Market size defines the level of understanding of the target audience, geographic areas, the size of each target segment and ranges this level from 2 to 10 points;
• The competition level is calculated using a well-known “Porter five forces analysis” approach;
• Market Access lets us the evaluate possible difficulties for becoming a strong actor on the target market. These barriers might concern customers, technology, law, operations, and some more factors.
A good understanding of the market will help you develop working product development strategies and find the best channels for attracting your potential clients.
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