Determining the Needs of Your Market

Author: Janice Jenkins | Posted: 06-05-2008 | Comments: 0 | Views: 5 |

Have you ever tried to give a book to a 2-year old? Most of the time, that toddler is just not interested in the book. If he is, it’s only so he can tear up the pages or scribble all over them with a marker; it is definitely not because he wants to read it.

Just like that, you have to know what your market wants before you try to market your product to them. No marketing campaign, no matter how expensive or how attractive, will have a positive impact if there is no demand for the product. You cannot create demand, so you are completely at its mercy.

To find out what the market wants, ASK!

The market will never lie to you. It will always tell you what it wants and how much it is willing to pay. All you have to do is ask! Here are a few ways to do that:

Surveys

Ask customers to fill out surveys. If you offer compensation for filling them out, such as 25% off or a free hour of your service, you will get a tremendous response. Ask questions about the product you are testing. Ask your customers if they would be interested in buying the product. Give them several price ranges, and ask them what they would be willing to pay for such a product. Keep in mind, however, that they will probably mark a lower price than they would really pay.

Direct Mail

You can also send out surveys to customers through the mail. A good way to do that is to put a survey on a postcard, and send it to a neighborhood.

Or, you can do a booklet printing and send it to customers. This has the added benefit of increasing sales on your existing products. Print up a good, quality booklet full of your current products, and throw in some “test features” for your test product. Put in a survey to ask those same questions as before. If you are able, put in some specific information about and pictures of the product you are testing. See what kind of response you get.

Internet

You should always do a great deal of research before launching a product. The internet is a good place to look up information about the product you are thinking of selling. Look up old newspaper articles in your area that are related to the product. You will get a good idea of the demand for your product this way.

It is even more effective if you combine the internet with your other testing efforts. On all of your print advertisements and literature, put your website address on them. And on your website, include a survey or other information about your new product.

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About the Author:

Janice Jenkins is a writer for a marketing company in Chicago, IL. Mostly into marketing research, Janice started writing articles early 2007 to impart her knowledge to individuals new to the marketing industry.

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