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Ask HN: How to do market research for product?

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Re: Ask HN: How to do market research for product?

#43
As you already have a niche in mind (restaurants that are already on delivery apps), you can make a list and try to approach them.

How I'd do that (consider it a brainstorm):

- I'd build a simple prototype

- If I have friends in the niche, I'd approach them and ask for feedback

- I'll actually ask them who is managing their menus and marketing. It makes sense to try finding agencies (these could be graphic or print agencies) that print the menus. They can get you in touch with restaurant owners and maybe they know something about keeping menus up to date.

- I'd write down what their struggles are. For example - expensive to update high-quality printed menus, challenge to maintain onsite digital menu, challenge to match current availability with online platforms, etc.

- See if any of the issues they're referring to, does actually relate to the hypothesis you've built. If you're not happy with the result, iterate.

- Play around with use cases - list a couple of use cases (Client orders online, client cancels online, client orders on the phone, order is paid but no availability, out of stock, etc). Observe the business processes surrounding these use cases in the restaurants and see how your solution (or hypothesis) might fit there.

- If you don't feel threatened by the delivery apps, try approaching them. They are usually pretty well-connected with the restaurants and know a lot of their pain points.

- If you can afford it, spend some time in real observations (I'd do that by sitting around a friend who has a restaurant and accepts orders).

If you have a prototype that you believe can be validated, try it with a restaurant. If you're unsure how to approach a restaurant owner, manager or staff, just go there and order some food. Then present yourself and express curiosity. My experience is that if they are not busy and if you don't ask for money, they could be talkative. The more you order, the more talkative they get.

Be very careful what you promise for free to the restaurants. They might ask you to build them a website or help with Windows update.

Good luck! Hope you got some insights.

Re: Ask HN: How to do market research for product?

#44
I was is in a similar position some time ago (albeit with a very different product).

Long story short: Understanding the complexities of why a certain problem remains under-addressed was difficult in our case. As a result, we ended up pivoting into the direction of helping (potential) founders validate ideas through a specialized search engine of startups. We just launched a beta version of this on https://www.symonda.com - while many features are still lacking, maybe it can still be a useful resource.

Re: Ask HN: How to do market research for product?

#45
I feel like a weird industry has popped up that makes you feel like you can validate everything in advance. I think this comes from Product Managers in large, risk-averse companies that excessively try to minimize mistakes.

However, if you want to start a startup, you aren't optimizing for mistake minimization! You are figuring out if anyone cares as quickly as possible. You will only get true validation of this by seeing if people use your thing, and then iterating from there.

My advice would be - you have to _both_ talk to people and _at the same time_ create whatever your MVP is to launch as fast as possible. It might be a spreadsheet. It might be you doing stuff manually for them before building the software. Get something into their hands as quickly as possible.

Re: Ask HN: How to do market research for product?

#46
post #22
post #17

Be very careful about how you ask questions because some forms of question solicit "approval" answers. It's culturally informed, some cultures try very very hard NOT to have to deliver a negative. Thats why some UX uses matched-pair questions which have two approaches to the issue at hand, boolean opposites, so you can see if they move sliders, weight or answer both the "correct" way to align the response. Separately…

This is a good book that helps deal with those issues: https://www.momtestbook.com/

Thank you for this one.

Haven’t read it, but despite doing engineering and product work for decades I’m always grateful for books like this as there is always more to learn! Looks great!

Any other must haves in this category?

Re: Ask HN: How to do market research for product?

#47
There is only one reliable way to do market research, and that is to sell the product. Find a restaurant with an outdated website. Go into the restaurant and take a paper menu and create a website with the updated menu, make the website responsive, if you can't upload the information to Yelp, screenshot the Yelp page and replace the prices and photos with Microsoft Paint.

Walk into the restaurant and sell it to the owner. If he buys it, congratulations! Now you have to go build it.

Re: Ask HN: How to do market research for product?

#48
Start with the question of whether this will solve a big enough problem for your target audience that they'd be willing to pay for it?

In your example case - most likely not. The problem is there, but menus going out of sync on delivery apps probably doesn't generate enough troubles to be worth paying for.

Follow-up with if they will be willing to pay, how much? Then take that number multiply it by the audience size and see if it's worth it.

These two questions tend to eliminate the vast majority of half-baked ideas very quickly.

Re: Ask HN: How to do market research for product?

#49

I think it's important to differentiate between market and product research. "Market research" for me is much more high level. I'm looking for competing companies/products, what are they doing? what can I do better? how they are positioned (budget, middle of the road, premium)? I'm trying to get a feel for how large the market is (in $ and # of users), etc. "Product research" is talking to prospective users/customers…

This is a really useful post thank you
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