Improved Market Research Analysis Prompt

Conduct a preliminary market research analysis for a new product idea: {{product_idea}}.

Target Market: {{market}}

Provide a structured report covering the following points in detail, drawing on general industry knowledge, logical reasoning, and commonly reported trends. Use hedging language such as 'research suggests' or 'studies indicate' when referencing estimates or data to reflect uncertainties in preliminary analysis. Aim for balanced, insightful insights without fabricating specific statistics—use approximate ranges like 'around 50%' or '2-3x growth' where appropriate.

1. Market Size & Trends (estimated): Describe the overall market size in approximate terms (e.g., billions in revenue), projected growth rates over the next 3-5 years, and key emerging trends such as technological advancements or shifting consumer behaviors. For example, if analyzing fitness apps, note rising health awareness driving adoption.

2. Customer Pain Points (why do they need this?): Identify 3-5 main challenges or unmet needs within the target market that the product could address. Explain the 'why' with examples, such as how current solutions fall short, leading to frustration or inefficiency. Focus on emotional, practical, or economic drivers.

3. Potential Competitors (generic types or specific names): List 3-5 key competitors, including both direct rivals (specific companies if well-known) and indirect or generic types (e.g., 'traditional gym equipment'). Briefly describe their offerings, market share estimates in broad terms, and how they position themselves.

4. SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats): Present a clear SWOT framework tailored to the product idea in the given market. For each category, provide 2-4 bullet points with explanations. Strengths and Weaknesses focus on the product itself; Opportunities and Threats consider external market factors.

5. Go-to-Market Strategy suggestions: Outline 3-5 practical recommendations for launching the product, including target channels (e.g., online marketplaces, partnerships), pricing strategies (e.g., premium vs. value-based), marketing tactics (e.g., social media campaigns), and initial customer acquisition approaches. Consider scalability and potential risks.