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How to do a market study on a small budget

1/20/2015

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Understand your customers enables you to better satisfy and, by extension, make them loyal to your company. Therefore the realization of a market study is important because it will allow you to better understand your customers. Such a study may sound complicated, but you can make a cheap if you use the following suggestions to create your own study, either on paper or by electronic means.
If you own a restaurant, you should develop a short questionnaire on paper and insert it with the invoice. Key questions should cover the food, the service, price and ambiance. The paper questionnaire can also be used in a store and should include questions about the service, quality and product availability. If you run a small manufacturing company, you should consider a simple electronic questionnaire. With a computerized data base, you can automate this process and optimized results.

Questions should cover the quality themes, service, delivery speed, the speed of settlement of complaints, etc. Emails are free and benefit from your database.

For these questions, which cover the performance of your company, use a scale of 1 to 5, 5 being "Very Good" or "Very Satisfied" and 1 being "Very Poor" or "Very Dissatisfied".

Include questions to know your customers, for example? "When deciding where to shop, what is most important to you" and use a scale of 1 to 5. Also, include an open question to provide an opportunity for your customers to make suggestions on how you poudriez serve the best.

To encourage customers to answer the questionnaire, please take a product or a special discount. The higher the response rate, the greater the possibility that the answers be representative of what your customers think. Remember to keep the survey short and simple!

Once you have gathered enough questionnaires, you must analyze it. Organize them in a table and draw graphs to visually understand the information. What changes are needed to improve your results? Lead a short survey every year and measure your progress.

Conduct a simple survey to determine the needs and opinions of your customers and so you can improve your position in your industry.

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