Page 109 - DMGT521_PROJECT_MANAGEMENT

Project Management

Notes There are various ways to distribute surveys. Surveys are sent through the mail, in e-mail, or are
conducted through Web-based services. Online surveys are professional, easy to use, are
distributed via e-mail or mobile phones, and are sometimes free. Upgrading, however, may
provide the subscriber with access to advanced features like survey reporting, survey creation,
and analysis tools.

Did u know? Online surveys are professional, easy to use, are distributed via e-mail or
mobile phones, and are sometimes free.

7.3.3 Conducting One-on-One Interviews

Gathering information from interviews is another good way to learn about potential customers
and a particular industry. There are generally two ways to gather information through interviews:
1. From experienced individuals in a relevant industry: Consulting with individuals with
knowledge and experience in a particular industry can help answer questions about target
customers, competition, and industry practices and trends.
2. From individuals within a target profile: Conducting interviews with individuals in a
customer profile is an effective way to gather information about potential customers. It
may be necessary to conduct interviews at places where the targeted customers are likely
to visit. Make it easy to answer questions by allowing for a simple “yes” or “no” answer.
3. Obtaining Feedback from Focus Groups: Conducting market research through a focus
group is a valuable way to obtain feedback about a product or a service. A focus group, for
instance, may be used to test the appeal and taste of a new food product in comparison to
a competing product, or to test the usability of a new computer game. After participants
watch a demonstration or presentation, feedback is collected through group discussion,
from individual oral question and answer sessions, or from a written questionnaire or
survey.
Keep in mind that obtaining feedback through a focus group may entail the added expense of
renting a space large enough to accommodate the focus group.

Task Discuss about different types of Market Survey.

Self Assessment

Fill in the blanks:
1. The ………………… step of market analysis is to define and identify the specific market to
target with new products or services.

2. Companies will use market surveys or consumer feedback to determine their satisfaction
with ………………… products and services.
3. ………………… analysis is a method managers use to analyze both the internal and external
environments of an organization in order to understand the firm’s own capabilities,
customers and business environment.
4. The analysis of the company allows for the evaluation of the company’s objectives, strategy
and …………………

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