Market Survey

Market Survey
 Conducting a short market survey is a
good way to understand customers'
needs and how business should operate.
 Two types of information are needed to
be gathered:
1) information about current and/or expected
product and its quality
2) information about how much people will
buy, how often and for what price.
Questions in Market survey
 Questions can focus on what are the
things that consumers like/dislike about
existing products.
 Assessing demand; whether consumers
are willing to buy new products (may
be providing samples).
 Usually answers are designed on 5-
scales design (Very good, Good ,
Average, Bad, Very bad)
 Market Survey Process
 Questionnaire design and testing.
 Designing Consumer sample (research
participants)
 Collecting data
 Data validation
 Data analysis
 Driving conclusions.
 Types of market surveys
 A market survey for an existing
product, gathering information about
competitors in the market.
 A market survey for a new product,
gathering information about consumer
readiness and preferences.
 A market survey on market size and
value.
 Questions types
Closed ended Open ended Closed/open ended
These are
These are
These are free-form questions that mix
questions with
questions that allow between both
limited options
respondents to types of questions
from which to
answer in open text closed ended and
choose a
format so that they open ended
response.
can answer based questions
Ex:
on their elaboration Ex:
- Yes or No
Ex: - questions with
questions
- Questions starts list of answers
- questions with
with what, who, A, B, C , then
list of answers
why, how asks why or
A, B, C
how
 Sample questionnaire for a new
product (mango jam)
 Explain to each person you interview that you wish to start
a new business making mango jam and that you have
prepared some samples for people to try. Ask them if they
would like to taste the sample and give you their opinion

Question Answers
1. Do you eat other types of Jam? Yes/ No

2. Which types of jam do you like best? List of types

3. Do you think you would like mango jam? Yes/ No/ Not sure
 1 2 3 4 5
Very Good Average Bad Very
good bad
4. What do you think about the color of this
mango jam?
5. Do you like having small parts in the jam?
6. What do you think about the flavor of
this jam? Tick in the appropriate place
7. Do you like the texture of the jam?
8 What do you think about the jar?
9. What do you think about the label?
10. What else do you like about this jam? Write answers
11. Is there anything that I can do to Write answers
improve this jam?
 Assignment

 Write the questions of a market survey

related to your project