Building a Research Framework for Poorly Mapped Markets
Developed a structured, hypothesis-driven approach to research when the brief is vague and the market is underdefined.
Achintya Alok
Investment Banker Associate at Fincof
From their time as
Investment Banker Associate
Fincof • 2026
Overview
Achintya described his approach to structuring research when the brief is vague or the market is poorly mapped, a challenge he encountered during his work at Fincof on early-stage mandates.
The Story
Achintya described his approach to structuring research when the brief is vague or the market is poorly mapped, a challenge he encountered during his work at Fincof on early-stage mandates.
His starting point is always the end objective: what decision is the research expected to support? From there, he breaks the problem into key questions covering market size, customer need, business model, competitive landscape, and key risks.
When the market is not well mapped, he begins with secondary research to identify patterns, comparing multiple credible sources to build an initial framework. As new information emerges, he refines the framework and focuses on the hypotheses most relevant to the investment decision, rather than trying to answer everything at once. The approach is structured and evidence-driven, but flexible enough to evolve as the research develops.