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olu
10-08-2004, 01:16 AM
Hi all,
I would like to know if anyone could point me in the right direction.
I want to carry out a market research on my idea, I intend to do this by printing questionnaire and house dropping it.
Unfortunately Royal mail would only accept a mininum of 500 worth of order to drop, and another 200 to set up a freepost account for the response, on the whole I would be looking at close to a thousand quid to do this research, which I do not have.
I would appreciate any idea of printing at a cheap cost, house dropping and freepost return address.

Thank you
Olu

Martin
10-08-2004, 04:27 AM
Hi Olu, Have you thought about cold-calling on the addresses? ... Or maybe a bit of highstreet market research?

I know that with house-dropping the questionaire the chances are you will get little to no responce for your money.

Unless there's a good reason for them to fill it in, most won't bother.. Unless you say there's a prize or something.

1 Clip Board - 5.99
1000 Sheets of A4 Paper - 10
Printer Ink - 30-40
1 day of your time and overcoming the "In the highstreet" Market Research will be priceless.

It can be a little daunting (Spelt wrong i think hehe) for the first time.... But on ROI you can't really beat it... It's a cheap and honest way to find out how your product or service will fair in the world.

(Failing that, maybe a Online Questionaire?)

All the best

Martin

natasha
10-08-2004, 08:47 AM
Hi Olu,

I second Martin (good advice).
You can do a free online survey here its great www.freeonlinesurveys.com
Good luck and let us know how you get on.

leeds_audio
10-08-2004, 05:49 PM
Hi Olu,

First of all I think you need to consider who your potential clients /audience will be before deciding on you research methodology.

i.e.

1) it may be cheaper for an online survey, but are all of your target audience likely to have access to the internet

2) It may be cheaper for face-to-face surveys, but are your target audience say... business owners, likely to be where you/your interviewers are stood at that time of day?

3) Again, same with Telephone interviews, are you targetting people who may not even have telephones?

and so on...

I also belive that response rates can vary, If your questionnaire is well designed and interesting to complete (i.e. you have sampled people who may find the subject interesting), you can easily reach response rates of over 60%

Do you have any more info on your business idea, as i may be able to give you more advice on your methodology.

Stephen

olu
11-08-2004, 11:01 AM
Thanks guys,
I know who my customers are, their lifestyles and even their postcodes.
Unfortunately, I am not sure I would be able to get them on the highstreet, they tend to travel in their cars.
About cold calling, how do I get the phone numbers and how much is it going to cost?
Thanks again.
Olu.

robnights
11-08-2004, 10:02 PM
Why not actually call at their house, with your clipboard and your questionnaire, and ask them face to face? this way you are directly tageting the right people, and you should get a high response, providing you call at a good time, say 6:30pm? when people are more likely to have returned from work.

olu
13-08-2004, 11:47 AM
Robnights,
Thanks for the suggestion, Ill try and followup on that.
How many positive responses do I need to verify that there is a market for my idea?
Cheers all
Olu

Martin
13-08-2004, 02:16 PM
Originally posted by olu
Robnights,
Thanks for the suggestion, Ill try and followup on that.
How many positive responses do I need to verify that there is a market for my idea?
Cheers all
Olu

I spose thats up to you.

If you get a positive responce from 5 out of ten, then maybe on Average you could sell your product/service quite easy.

or if you get just 2 out of 10, then thats much lower, but if your making a decent profit then maybe them 2 customers are worth going after.

It really depends on how much profit your expecting to make.

Marketeer
17-08-2004, 02:24 PM
Without putting a dampner in here it is worth pointing out that questionnaire design and market research, to be done well requires a lot of knowledge. Simply designing a questionnaire can be a long painful process. Then deciding on your target group, how they will be approached, what the expected results will be, how you will weight the results, whether you will have qualitative as well as quantitative research, how it ties in with other information (primary/secondary data), rewards, incentives etc

I know a lot of people will just say write down what questions you want to ask then go out and do it but the key is in the preparation. It is not as easy as people like to think.

olu
17-08-2004, 04:59 PM
Thanks all.
Marketeer, I have to agree with you, I have been cracking my head on the best way to approach my target and get the most response.