Conducting Market Research

Creating a useful market survey Gathering useful data Example questions

Keep it simple –Brief and clear –Only one issue per question Use check boxes, numeric scales, yes/no –Follow up with “why” Creating a Useful Market Survey iStockphoto.com Phrase to produce variability in responses

Use multiple choice when possible Limit narrative answers Carefully phrase questions without bias Creating a Useful Market Survey iStockphoto.com

Creating a Useful Market Survey Don’t use “not” Order questions logically –General to specific Use easy to read format –Wide margins –Double or triple space iStockphoto.com

Carefully select respondents Ideally 200 to 300 respondents Choose impartial respondents Emphasize that there are no right or wrong answers Provide plenty of time to respond Gathering useful data iStockphoto.com

Example Questions Demographics How do you currently solve the problem of ____ What do you like about the solution? What do you dislike about the solution? What features are most important? Why? How much do you pay for the solution? If a new product existed to solve the problem in a better way, would you try it? How much would you be willing to pay for it? How many times a year would you expect to buy it?

Conducting Market Research Creating a useful market survey Gathering useful data Example questions