angel8783
04-19-2007, 12:54 PM
I have a question for business owners and anyone else who wants to answer.
I am doing a project for my marketing class in which we have to "launch" a product of our choosing (which can also include a service). Through a series of events I got roped into doing market research as my product. I am fearful that it is not profitable for our target market, but I have to forge on anyway.
My question is, if you are a small to midsized business owner, professional, or otherwise, and you are making a decent amount of profit and want to make more. How much would you pay for any of these market research techniques:
online surveys of consumers
in-depth interviews
focus groups
generalized pre-written reports about your area
The results a market research company like this might give would be where to better advertise and how to reach your target. My group member and I have decided to target our local area, but we do realize that most market research companies target on a national and worldwide scale and do not provide these services for cheap.
Also for consumers, if you were given an opportunity to screen for possible participation in online surveys, interviews, or focus groups, and there was promise of incentive if you were chosen, would you be willing to share your opinion (and sign up and be screened for free at first). (the incentive if chosen after the initial screening would range from $5-30 depending on the type of research and amount of time and effort needed on your part)
None of this is real, all fake for a project!! I just need some input.
I am doing a project for my marketing class in which we have to "launch" a product of our choosing (which can also include a service). Through a series of events I got roped into doing market research as my product. I am fearful that it is not profitable for our target market, but I have to forge on anyway.
My question is, if you are a small to midsized business owner, professional, or otherwise, and you are making a decent amount of profit and want to make more. How much would you pay for any of these market research techniques:
online surveys of consumers
in-depth interviews
focus groups
generalized pre-written reports about your area
The results a market research company like this might give would be where to better advertise and how to reach your target. My group member and I have decided to target our local area, but we do realize that most market research companies target on a national and worldwide scale and do not provide these services for cheap.
Also for consumers, if you were given an opportunity to screen for possible participation in online surveys, interviews, or focus groups, and there was promise of incentive if you were chosen, would you be willing to share your opinion (and sign up and be screened for free at first). (the incentive if chosen after the initial screening would range from $5-30 depending on the type of research and amount of time and effort needed on your part)
None of this is real, all fake for a project!! I just need some input.