Product Market Research Work Sheet
Don’t be befuddled by market research tasks. Use this handy work sheet—make copies, and use one for each product or service you’re considering. Then give each one a grade: fantastic, has potential or not such a hot idea. When you’ve completed several sheets, compare them, weed out the NSAHIs (you know—the Not Such a Hot Ideas), start working on the Fantastic, and keep the Potentials on file for future reference.
- Name or description of product:
- What are the products’s features?
- Are there competitive products? If so, list them:
- What are their selling features?
- What is the sales potential of the product or service in my target market?
- What are comparably priced goods going for in my target market?
- Who will be the end user of the product?
- Is the population of potential end users large enough to substantiate sales?
- Can I expand the market, or will I be taking a share of the existing market?
- Is the existing market large enough to share?
- Which elements have the most influence on potential customers or clients? Price, quality, brand name, “imported” cachet, service, credit terms, delivery terms, advertising or marketing assistance?
- Where can I buy this product?
- Will I need to have it manufactured?
- If so, what is the turnaround time for manufacturing, and will this influence sales?
- What will be my cost for the product?
- What variables will affect pricing (special packaging or marking requirements, special shipping requirements as for perishables, other variables)?
- What are the potential problems that will contribute to my price, such as end user unfamiliarity with the product or service?
- What are the potential benefits that can contribute to my price, such as high demand for the product or service?
- What is the potential for licensing?
Final grade: (xếp hạng)
❑ Fantastic
❑ Has potential
❑ Not such a hot idea
Reported by:
Date:
Name & Signature:_______________________________________________
Country Market Research Work Sheet
Once you’ve done your product market research, move on to this work sheet. Make copies and use one for each country you’re considering. Then give each one a grade: fantastic, has potential or not such a hot idea. When you’ve completed several sheets, compare them, weed out the NSAHIs (you know—the Not Such a Hot Ideas), start working on the Fantastics, and keep the Potentials on file for future reference.
- Why does this country have potential for my product or service?
- How can I gain exposure in this country?
- Will I need to travel abroad to find markets, conduct research and find distributors, or can I do this at home via phone and the internet?
- Will I encounter language barriers or difficulties?
- What cultural differences will I need to account for?
- How will I handle them?
- What is the economic climate (on a national level—unemployment rates, inflation or depression; on a personal level—disposable incomes, spending patterns)?
- What is the sociological climate (urban and rural populations, literacy and educational levels, any special religious considerations)?
- What is the political climate?
- Will I experience any special shipping or handling problems because of geography or local customs? If so, what?
- What trade channel will I use (direct sales, representative, distributor or commission representative)?
- How will I locate my trade channel people?
- What are the country-specific problems that will contribute to my price, such as quotas, duties or country regulations?
- What are the country-specific benefits that can contribute to my price, such as duty-free or low trade barriers?
Final grade: (xếp hạng)
❑ Fantastic
❑ Has potential
❑ Not such a hot idea
Reported by:
Date:
Name & Signature:_______________________________________________
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