When starting a new business or developing a new product offering, you should find out if the product is marketable to your target market. Will they want to purchase it? How much would they want to pay for it? Where will you advertise your product to inform the potential customer of its benefits and value?
One of the tools that we can use is a Questionnaire. You will see by reading the example below that it contains three main sections:
- interest of the consumer for your product with regard to price and utility;
- profile of the consumer; and
- communications - what materials does the consumer read or what does he watch on television or listen to on the radio.
Whether you are contemplating a product-oriented business or a service, you will find that a questionnaire if very useful in planning your marketing plan. Here is an example of a new board game:
I am developing a new product and am contacting a few people in your neighborhood for an important and quick survey. I hope you will take a moment to tell me how you feel about board games.
1. Do you play any board games? Yes ____ No ____ (If no, please go to #7)
2. What is your favorite board game?
Backgammon ___ Checkers ____ Pictionary _____ Life _____
Clue ____ Monopoly _____ Sorry ____ Other ____
3. On the average, how often do you play board games?
Less than once per month ____ Once per month ____
Twice per month ____ Once per week _____ More than once per week ____
4. Would you consider playing a new board game about the stock market?
Yes ____ No ____ Maybe ____ I don't know
5. How much would you pay for board game about the stock market?
$10 to $15 ____ $15.01 to $20 ____ $20.01 to $25 ____ Over $25 ____
6. What is the first word that comes to mind when you think of the stock market?
7. On the average, how many hours of television to you watch per week?
Less than one hour ____ 1 to 3 hours ____ 3 to 6 hours _____
6 to 9 hours ______ 9 hours or more _____
8. Do you clip coupons from the newspaper? Yes ____ No ____
9. What radio station do you listen to most often? _________________________
10. What is your age group?
18 to 24 years ____ 25 to 34 years ____ 35 to 44 years ____
45 to 54 years ____ Over 55 years ____
11. What is your household income?
Under $40,000 ___$40,000 to $60,000 ___$60,000 to $80,000 __ Over $80,000__
Thank you for your response. The following information is helpful to my study but is optional: