FREE online courses on Selling Step by Step - Establishing Needs - Questionnaire

 

You can analyze your current and future market with the help of these vital questions:

ü       How big is the present market for my product in terms of

-          number of customers?

-          Type and size of customer?

-          Product demand by type/pack-size/specification?

 

 

ü       When does the market purchase?

-          weekly

-          monthly

 

ü       What companies have the greatest market share?

 

ü       What are the usual product specifications?

 

ü       What are my competitor's strengths and weaknesses?

 

ü       What are most prevailing and most suitable advertising and promotional vehicles?

 

ü       What are the operating payment terms in the market?

 

ü       What pricing levels appertain and what discount structure operate for my product?

 

ü       How is the distribution undertaken for similar products as mine's?

 

ü       Does any government legislation apply to my product?

 

ü       Where are the customers? And where is the competition?

 

ü       Can my product be easily redefined for greater market share or for environmental changes?

 

ü       What market/product changes could occur to reduce my market share?

 

ü       What steps should I take to maintain or increase your market share?

 

ü       What will be the future demand for my product

-          next year?

-          In next two years?

-          In next five years?

 

Ponder on these questions and see what are likely to be your strengths, weaknesses, opportunities, and threats in comparison to your competitors.