A popular saying goes like this: “Ideas are a dime a dozen. People who implement them are priceless.” An idea, no matter how unique and interesting it sounds, has no benefit for you unless it is turned into a proven concept. 

In this tutorial, we'll show you how to leverage Perplexity AI paired with the DeepSeek model to take the guesswork out of evaluating your next big venture. Instead of spending weeks or months on manual market research – we'll explore how this AI-powered approach can help you quickly assess market opportunities, size up the competition, and determine if your business idea has legs. This unique combination of tools can give you data-driven insights while keeping the process conversational and easy to follow.

This tutorial will cover:

• Setup Perplexity’s Deepseek
• Research marketing fundamentals
• Analyze the competition
• Validate the idea

Let’s dive right into it!

Step 1 - Setup Perplexity’s Deepseek

Start by accessing Perplexity. 

To get started, you'll need access to Perplexity's premium features. Activate Pro mode by clicking the ‘Auto’ drop-down in the bottom left corner of the prompt box. Perplexity offers 3 complimentary DeepSeek R1 searches daily, allowing you to test-drive its capabilities before making a decision.

Important to know: Save your free DeepSeek searches for complex queries that require advanced analysis and reasoning. Standard models can handle basic research.

Step 2 - Analyze marketing fundamentals

You got an idea. Use Perplexity AI to ask about the current market size and a 5-year projection. Let’s say you have an idea about AI automated video editing software. Then, ask about key players and their market share, customer segments, major trends, and barriers to entry. The prompt that sums up the initial analysis can be like this:

Prompt:

Analyze the market opportunity and landscape for [your business idea] in [target market]. Include:
1. Current market size and 5-year growth projections
2. Key players and their market share
3. Primary customer segments and their needs
4. Major trends and technological shifts
5. Regulatory considerations and barriers to entry

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The trick is to find a niche that you can capitalize on. Getting a foothold in a market dominated by big companies is difficult. A niche product does well in the beginning and can be a catalyst for a significant change. The next prompt will search for a specific niche within your target market. It will provide insights into the overlooked areas where you can get a foothold. 

Prompt:

Which niches in the [specify the target market] are unsaturated? Identify the gap between the demand and the supply. Provide a list of niches, starting with the highly unsaturated ones, and have room for new companies to start their venture. 

For example, we asked it to identify unsaturated niches in the AI-automated video editing software market. It showed us the usual result. However, we found some interesting information that can be used to gain entry into the market. 

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It’s always better to ask very specific questions related to the niche. Next, we will learn about the competition. 

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Step 3 - Analyze the competition

Having established initial market insights, proceed with a comprehensive competitive analysis. Build upon your previous research, and write a prompt to develop a strategic assessment of potential competitors.

Prompt:

Based on the market analysis, help me understand how competitors [list popular competitors] are approaching [specific problem your business will address]. Focus on their business models, pricing strategies, and customer acquisition methods. What attempts have failed in this space and why?

This is where DeepSeek's reasoning capabilities excel —it can connect disparate pieces of information to reveal patterns and potential opportunities.

Focusing on the market competition, you can ask Perplexity for specific insights into its workings. The next prompt will help us analyze our competitors' major strengths and shortcomings. 

Prompt:

Analyze the strengths and shortcomings of each competitor in the [target market]. Provide a list of shortcomings and how it can be used to gain entry into the market.

Perplexity gave us a comparison table and listed the shortcomings. That’s quite a useful insight. 

Step 4 - Validate the idea

For the final analysis, provide a scenario to help Perplexity and Deepseek provide more nuanced and actionable insights. Frame your prompt as a conversation with a business advisor. 

Prompt: 

I'm planning to launch [your business idea] targeting [specific customer segment]. Based on our market and competitor research help me understand the key risks and opportunities. What crucial steps should I take in the next 90 days to validate this idea? Consider both market conditions and operational requirements.

The response will guide you in building a clear, actionable plan for your business idea. Focus on identifying pilot programs, defining the essential features for your minimum viable product (MVP), and outlining strategies to attract your first customers. Watch for counterintuitive insights—these often highlight unique opportunities to stand out from competitors.