What are the basic questions on an market research?

Question

I am opening a new business and I want to know my market. I want to know how much people is willing to spend on a service for example. My concern is: What are the basic questions I need not to forget to ask?

Answer 1

Besides the basic demographic questions of age, sex, homeowner, etc., ask them about their current buying habits regarding similar sefvices.

• Where do they presently shop for these services?

• What's the most and average price they pay?

• What is most import as far as features and benefits?

• How did they hear about these services, i.e. TV, newspaper?

• Do they use coupons, the Internet, direct mailers?

• What would they like to see the service do better?

• What about warranties?

• Do they use a credit card?

• Do they shop online?

That should be enough to get you started. Good luck.

Answer 2

Some of the most annoying questions to ask are the ones you don't know you need at this time. For example, basic demographic questions such as age, education level, income level, gender, occupation, etc. They may seem unrelated, but often when you get into the analysis part (after gathering data) you can uncover hidden correlations For example, the correlation between the willingness to spend $X and the age of the study subject may become apparent only after collecting data. The idea to search for specific correlations usually emerges AFTER the data have been collected, and then it is too late to ask the basic questions.



Hope you can learn from my past mistakes.

Answer 3

growth of the industry, total merket size of your industry, main players market share, how much are the consumers currently spending on the particular service, their monthly income and thisngs like that.