How to do a market suvery - where to start

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pinkyBear

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Hi Guys,
A friend of our and ourselves are thinking of setting up our own business. We want to do a market survey to see if our idea is viable.

We are currently in the process of establishing the questions. Given that we have very limited funds - what would be the best approach in doing this...

Cheers..

P:)
 
I have seen a lot of online questionaire things, you could always send them out to friends, family, even post on message boards to get some feedback.
 
It really depends on the type of business you are setting up & who your end user will be.

Start with having some of structured, open ended questions with some of you target market as this will throw up key areas of interest (regarding price, quality, quanity etc)....this will help you form a more structure questionaire where you can get measurable figures. Be careful how you ask your questions that you don't just get the answers you want to.

You could always approach a final year marketing student/or graduate who might be happy to get the experience for a reasonable renumberation - they may have access to a package which will help to process the information.

It's not a good idea to survey friends and family - you need to get totally unbiased opinions.

A small amount spent now, could save you a fortune down the road.
 
Have to agree with sam h....

online forums are also a great source of honest opinions..... It does depend on your chosen type of business though.

If your customer is the general public, what about talking to people on the streets?

If your customer is more business\corporate then perhaps trade shows are an option?

Spend as much time as possible on your market research, be honest and open with yourself\partner and you will find the information obtained to be invaluable.
 
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