Market surveys are a powerful business tool. Used correctly, this tool can, at a relatively low cost, establish a need for the product, identify potential customers and their requirements and determine pricing and marketing channels. This critical information can help any venture avoid expensive mistakes. A good market survey can prove to investors why your project has a unique potential.
The Complete Market Survey Process:
- Learning and analyzing the project – Internal analysis of the company and complete external analysis of the business and competitive environment
- Defining issues to examine – through the project analysis results, crucial issues to market penetration and project success should be determined
- Defining survey’s target audience and sampling size– in a manner that will best serve the market survey’s purpose and while determining the minimum number of respondents needed to receive a significant statistical result
- Building the questionnaire – this should be done while using basic methodologies of refuting/conforming hypothesis, conditional questioning, etc.
- Sample testing – test the survey on a sample group in order to identify built-in failures
- Management and supervision of the surveying – it is best to conduct the survey using advanced tools which enable automatic online data collection
- Statistical analysis of survey results – presenting results graphically and verbally according to the examined issues
Market surveys Can Examine the Following Issues:
- Test a new concept for a product or service – how will the target audience perceive it?
- Is there a real need for the product? What is the extent of the need?
- Who are the target customers that will be interested in the product \ technology \ service?
- How will the customers use the product and what will they benefit from it?
- How do customers evaluate the product in comparison to competing or alternative products?
- How much would customers be willing to pay for the product?
Why Choose HiTechStrategies?
- Practical experience in business development, marketing and international sales – we will understand your project and the challenges in marketing it better than anyone
- Survey will answer the issues examined precisely
- Advanced tools and methodologies – we don’t fall for built-in obstacles
- Connection to a global net of respondent pool – this enables us to reach a statistically significant sample according to the survey’s needs
- In-depth statistical analysis – will grant you with real insights
- Acquaintance with investors – the survey will prove to investors why they should invest in your project
For more information, contact us and tell us what you need.