How to do market research / test idea if no established market?

[Sid23]

In MJ's book, one of his points is if you are annoyed by something / wish something existed / wished it was easier, most likely other people do too.

I wish there were energy efficient, green homes available in any price range. In my city, most are $750k+ and only available to those who can afford them. Several of my friends have bought homes recently and complained that for $450k and under the only options in good neighborhoods are 80-100 year old homes that are completed inefficient.

I've wanted an efficient home as well and have the know how, contacts and industry connections to start building them. What I don't know is how to test the market? I live in the Midwest and tend to associated with other like-minded people. I know my friends would like them, but what about the masses (i.e. Joe six pack). I'm not going to build a scalable business selling homes to only hipsters. How can I figure out if there is a market for these types of homes, other than just asking around?

One thought I had was to create a free "Why to buy an energy efficient home" seminar, market it through my industry contacts and see if people show up. I could ask them to fill out a questionnaire and if people come, there might be my first ready and willing buyers right there.

How would you research this market?

Thanks.

 

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[InMotion]

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