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Market Research

Market Research. Li (Lily) Liu. Business Advisor Help people start their own business! Settlement and Integration Services Organization (SISO) lliu@sisohamilton.org 905.385.6192 ext.3406. Owner & Project Manager Bridge technologies with China! AerieScope Energy & Environment Tech Inc.

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Market Research

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  1. Market Research Li (Lily) Liu

  2. Business Advisor Help people start their own business! Settlement and Integration Services Organization (SISO) lliu@sisohamilton.org 905.385.6192 ext.3406 Owner & Project Manager Bridge technologies with China! AerieScope Energy & Environment Tech Inc. li.liu@aeriescope.com 905.745.69047 Self Introduction M.E.E.I., Sept.2006-Apr.2008 M.Sc., Chemistry B.E., Materials Sci. & Eng.

  3. MEEI Project – Air Quality Monitor

  4. Agenda • Market Research • How Market Research Guide My Project • Financial Plan - Market Size Calculation

  5. Chinese market trend Project Development Process • Market Potential Tested • Clearly defined customers with urgent need • Good market size • Viable business model • Business partners established - Letter of Interest • Lead customer involved for further market trial • Development Status • Prototype and testing done • Interface design finished Air Quality Monitor in Home AQM in car AQM in Home with solutions

  6. Market Research Done • Direct questionnaire Food Basics clients, Parents with young children • Online survey Email to friends, Survey monkey • In-depth interview - experts Home renovation companies, car mechanic technician, HVAC companies, Air purifier companies • In-depth interview – customer Allergy patient & asthma patient • A lot: desk market research, discussion and brainstormingwith professors, friends, someone met in the street…

  7. Urgent Need Value Market Research Objectives • Who are your customer? • Where are you in the value chain?

  8. Desk Research Primary Research • Big Picture • To generate assumption • To support the conclusions • Test assumption right or wrong • Find problems • May indicate solutions Market Research Tools Market Research: validate an assumption and /or find problems in the assumption

  9. Brainstorm Desk Research Assumption Primary Research Yes No Solid Conclusion Market Research Flow Desk Research Why? Problem? Desk Research

  10. Problem No solution offered to customer when bad air detected AQM in car Chinese market trend Brainstorm Solutions How Market Research Guide My Project Desk research: New homes purchase People’s concern of indoor air quality Seems good market potential Primary research: Face-to-face interview: Food Basics Email survey: friends in China Professor’s feedback Air Quality Monitor in Home

  11. Problem Not good market AQM in car AQM in Home with solutions Chinese market trend Brainstorm Solutions How Market Research Guide My Project Primary research: Online survey Air Quality Monitor in Home

  12. Solutions Brainstormed Solution 1: Partner with HVAC Companies • More than 200 HVAC service companies in Canada HVAC Service Companies Air Quality Monitor Solution 2: Add communication function to AQM Solution 3: Refine target customers with urgent need • Parents with young children • Allergy or asthma patients

  13. Firm Market Potential & Business Model How Market Research Works AQM in Home with solutions Primary Research Results • Questionnaire: • parents with young children • In-depth interview: • allergy & asthma patient • In-depth interview: • HvAC company Market Potential Leader user Letter of Interest & business partner Desk research: Support the conclusion

  14. Finance Plan Value Chain - Profit Calculation R&D,Tech. Equity Investment for license New Company Distribution Partner End users Suppliers $ 20 $35 $80

  15. Finance Plan - Market Size Calculation • Household Ownership Air Quality ProductsRates in USA (Air Quality Products Market Research 2007 based on 25,375 respondents made by Simmons Market Research Bureau) • Air cleaner = 9.9% • Humidifier = 11.7% (half for air quality monitor) • Dehumidifier = 16.5%(half for air quality monitor) • Estimated Household Air Quality Monitor Rate: (9.9%)+(11.7%/2)+(16.5%/2)=24%

  16. Finance Plan - Market Size Calculation Market size in North America: • US and Canada Metropolitan Population (not counting homeless): = 238 million people • Average family members = 4 • Families = 238 million / 4 = 60 million • Market Size (units) = 60 million Families *24% (Air Quality Monitor Household rate)= 14 million units • Market Size = 14 million*$80 = $1 billion

  17. Summery- Market Research Only until you do it, you won’t make it!

  18. Resource • Sample Questionnaire • Resources often use

  19. Thank You! I would like to help… Please feel free to contact me! li.liu@aeriescope.com 905.7458.6047

  20. Voice-of-Customer • Survey of Air Quality in Baby Rooms from Hamilton, Toronto & Ottawa • 59% parents consider air quality when setting up baby rooms • 55% consider indoor air quality can affect children’s heath “very much” • 45% think it is urgent to control air quality in children’s room and they would “Immediately take action” • “Chemical off-gassing ” ranks #2 top concern • 65% would like to purchase an Air Quality Monitor Parents Need Air Quality Monitor

  21. Established Partners

  22. Lead User Audrey Armour, multiple allergy patient • Perceived Values for having an Air Quality Monitor • Actively prevent problems before suffering • Increase filters’ lifetime and save cost • Check the effectiveness of air quality products • Make decision of choosing products and environments • “I care about the features (of such an air quality monitor), no matter how much is the price, I need to prevent my suffering” • Almost 50% of households have one or more members suffering from allergies (EPA) Patients Need Air Quality Monitor

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