This document provides a fill-in-the blank template for the creation of a comprehensive market survey plan. This document is intended to help a company identify its customers, determine customer needs and wants, determine target markets, evaluate competitors? positions, and track sales and marketing results. This document includes a timeline and worksheets to be completed by the company officer or product manager that is planning on conducting the market survey.
This document provides a fill-in-the blank template for the creation of a comprehensive market survey plan. This document is intended to help a company identify its customers, determine customer needs and wants, determine target markets, evaluate competitors? positions, and track sales and marketing results. This document includes a timeline and worksheets to be completed by the company officer or product manager that is planning on conducting the market survey. BLANK COVER PAGE MARKETING SURVEY PLAN PURPOSE The purpose of this Market Survey Plan is to set forth the actions ___ [Company] will take to: Identify its customers. o Determine who we are selling to. o Determine what our customers want and need. Identify its target market(s). o Determine ___ [Company]’s target market(s), including segmentation and niche markets. o Propose an appropriate strategy for each identified market and segment. Evaluate ___ [Company]’s position against its competitors. o Determine the attributes of our product/service that distinguish us from our competition. o Determine which competitors represent bona fide threats to ___ [Company]’s bottom line. Track and report results in a manner that allows ___ [Company] to strengthen its profits in the market by properly applying marketing methods. The Project Timeline at Appendix A shall be used throughout the process as a tracking mechanism. All costs associated with implementation of this Plan will be charged to cost center ___ [insert cost center code]. Requests for Purchase and any loans to the project of personnel will be requested in accordance with the applicable policies and procedures. Questions related to this Plan should be addressed to ____ [Title]/____ [Committee Chair or Liaison]. PRIMARY GOAL(S) ___ [Company] will: Sell ___ [fill in] ( ) units of ___ [fill in] product by the ___ [fill in] ( ) quarter of ___ [year]. © Copyright 2013 Docstoc Inc. 1 Increase production of ___ [fill in] by ___________ [fill in] ( %) percent by the ___ [fill in] ( ) quarter of ___ [fill in]. ___ [Other goal.] ___ [Other goal.] SUMMARY OF CURRENT COMPANY GOALS AND MARKET POSITION ___ [Insert goals and market position from previous plan, or create them using current data from other sources.] PROCESSES TO IDENTIFY CUSTOMERS AND CUSTOMER NEEDS ___ [Company] will take the following steps to determine the demographics of its customer base in order to properly market to those customers: 1. Customer Profile worksheet at Appendix B shall be completed. 2. Demographics Analysis Worksheet at Appendix C shall be completed. 3. No less than twelve months of customer complaints and customer praise shall be analyzed and summarized for use during the process. 4. ___ [Company] shall initiate market survey activities in each of the areas listed below. *If free samples or other incentives will be used, a proper requisition for the cost of such items shall be submitted and approved at least ________ ( )_ [days] prior to their purchase. a. Telephone i. Telephone surveys may be conducted by using one or more of the following methods: a. Current staff shall conduct surveys during predetermined time periods. Work schedules and workloads will be adjusted to permit employees to complete their current assignments and the surveys. b. Temporary staff will be retained to conduct surveys. Appropriate requisitions shall be completed for the cost of such staff prior to their retention. © Copyright 2013 Docstoc Inc. 2 c. An outside marketing firm shall be retained to conduct telephone surveys. b. Print i. Postcard campaign (results to be returned either by mail or customers can respond by logging on to ___ [Company]’s website and completing the on line survey). c. Internet i. E-mail campaign. 1. Will be administered by ___ [Position or Committee Title]. ii. Website survey. 1. Will be administered by ___ [Position or Committee Title]. d. Research or Focus Groups i. An outside marketing firm shall be retained to conduct research or focus group surveys. e. Industry Trade Shows (where participants are likely to represent our end user). i. Consideration will be given to participate in any trade shows for which the dates of the survey coincide with the dates of the event. f. Survey activities must be designed to elicit customer feedback surrounding these topics: i. Quality ii. Price iii. Service iv. Delivery © Copyright 2013 Docstoc Inc. 3 g. Surveys will be designed to elicit useable data that can be quantified and analyzed to provide relevant information. PROCESS TO EVALUATE ___ [COMPANY]’S POSITION IN THE MARKET Evaluation of ___ [Company]’s market position shall be addressed by implementing the following steps: 1. Industry Analysis worksheet at Appendix D shall be completed. Product Evaluation Brand Identity Selling Price Promotion Selling Location TRACKING RESULTS The results of customer identification and ___ [Company]’s position in the market shall be tracked in the following manner: REPORTING RESULTS AND RECOMMENDATIONS Results of the data compiled will be analyzed and will be presented in a report to ___ [Committee or Individual]. Results should concentrate on: The strengths that make our business profitable. The vulnerabilities of which we are at risk. The market conditions and market locations that will lead to ___ [Company]’s growth. Provide recommendations as to marketing tactics we should take to position ___ [Company] in the forefront of our market. Recommendations should be made as to the frequency and cost of such marketing tactics, how they are to be implemented, and the result such marketing is likely to have on net profit over specified time periods. © Copyright 2013 Docstoc Inc. 4 LIST OF APPENDICES Appendix A: Project Timeline Appendix B: Customer Profile Worksheet Appendix C: Demographics Analysis Worksheet Appendix D: Industry Analysis Worksheet © Copyright 2013 Docstoc Inc. 5 APPENDIX A: PROJECT TIMELINE Date Date Action Due Completed Comments Define Goals and Objectives Design Methodology Determine Feasibility Cost factors; time limitations. Develop Instruments Select Sample Conduct Pilot Test Revise Instruments Conduct Research Analyze Data Prepare Report © Copyright 2013 Docstoc Inc. 6 APPENDIX B: CUSTOMER PROFILE WORKSHEET Demographics of Customers Age: Gender: Profession: Education Level: Household Income Level: Marital Status: Number of Children: Geographic Location: Other: Buying Influences Conservative / Liberal: Conformist / Experimental: Environmentally Conscious: Socially Conscious: Growth-Oriented: Humorous: Techno-Savvy: Trend Follower: Fashion-Forward: Family-Oriented: Other: How many family members typically in consumer’s household? What are their favorite sports and hobbies? What forms of entertainment do they enjoy? What publications do they subscribe to? What do they do in their free time? Buying Behaviors What benefit does my consumer seek? How often will they purchase? What is the consumer’s decision-making process? Factors Affecting Purchase Factor © Copyright 2013 Docstoc Inc. 7 Price Quality Brand Name Recognition Customer Service / Technical Support Variety of Services Discounts and Sales Packaging Aesthetics Purchasing Convenience Aesthetics of Website or Store Ease of Use of Product Guarantee or Warranty Payment Plans / Financing Notes / Comments Resources Census Bureau Bureau of Labor Statistics Consumer Expenditure Survey Dun and Bradstreet Standard & Poors *Remember to check trade organizations for your industry, as well. © Copyright 2013 Docstoc Inc. 8 APPENDIX C: DEMOGRAPHICS ANALYSIS WORKSHEET Market Consideration Market 1 Market 2 Market 3 Consumer Demographics Population Education Level Income Level Occupation Marital Status Age Gender Stability Newcomer Appeal Market Value Statistics Unit Sales Dollar Value of Sales Other: © Copyright 2013 Docstoc Inc. 9 APPENDIX D: INDUSTRY ANALYSIS WORKSHEET HISTORY OF INDUSTRY Obtaining historical facts about your chosen industry can be as easy as entering search terms into your Internet browser, but knowing what facts to review can be a little more challenging. If your chosen industry has a long history, then a great deal of that information will be superfluous to this analysis. If, however, the industry is somewhat new, or has undergone radical changes that affect where it is now and how it is likely to branch out or contract, then a little more attention should be given to this section. Additionally, if the industry has a long history but with many changes that affect where it is now, and those changes show a trend, then consider including a time-line highlighting those changes in order to call attention to where the trend might take the industry in the future. Date of Emergence of Industry: Date and summary of major change #1: Date and summary of major change #2: Date and summary of major change #3. Other relevant historical fact: Resources: Federal Reserve Statistical Release IRS Industries/Professions OVERVIEW OF INDUSTRY How large is the industry? What sectors does this industry include, and how are they defined in the marketplace? What markets are most important for this industry? (Provide an overview here, and more details in the Market section below.) What clients and customers are most important for this industry? List the income predictions currently being made about the industry? Provide details about past income fluctuations: List the trends that have affected the industry and those that may be predicted to shape it in the future: © Copyright 2013 Docstoc Inc. 10 Provide information regarding what economists and industry watchdogs are predicting for the industry: List the cultural factors that affect the industry and your sector: List the geographical factors that affect the industry and your sector: List the economic factors that affect the industry and your sector: List the demographic factors that affect the industry and your sector: List the cultural factors that affect the industry and your sector: List the social factors that affect this industry and your sector: Provide information on any foreseeable barriers based on the factors listed above: COMPETITIVE STRUCTURE This section should draw information from your organization’s Competitive Analysis. Add sections as necessary to capture all applicable information. Number of competitors in each sector listed above. Sector #1: Sector #2: Sector #3: Relative strength of each competitor in each sector. Sector #1/Competitor #1: Sector #1/Competitor #2: Sector #1/Competitor #3: Sector #2/Competitor #1: Sector #2/Competitor #2: Sector #2/Competitor #3: Sector #3/Competitor #1: Sector #3/Competitor #2: © Copyright 2013 Docstoc Inc. 11 Sector #3/Competitor #3: Provide information on demand and supply for each sector. Sector #1 Demand: Sector #1 Supply: Sector #2 Demand: Sector #2 Supply: Sector #3 Demand: Sector #3 Supply: Provide details on how difficult or uncomplicated it is to enter the market in each sector. Sector #1: Sector #2: Sector #3: MAJOR MARKETS Describe the major markets for this industry. Market #1: Market #2: Market #3: Describe potentially underserved markets: Underserved Market #1: Underserved Market #2: Underserved Market #3: SUPPLY CHAIN For each sector of the industry listed in the Overview section above, list the key players in the supply chain. Key Player #1: Key Player #2: Key Player #3: Key Player #4: © Copyright 2013 Docstoc Inc. 12 Key Player #5: For each sector of the industry listed in the Overview section above, list the key players in the distribution chain: Key Player #1: Key Player #2: Key Player #3: Key Player #4: Key Player #5: MAJOR PLAYERS For each sector of the industry listed in the Overview section above, list the key players. Key Player #1: Key Player #2: Key Player #3: Key Player #4: Key Player #5: REGULATORY REQUIREMENTS List the regulatory requirements that exist for the industry, and the anticipated cost of implementing and maintaining compliance with them. Regulatory requirement #1: Regulatory Requirement: Cost: Regulatory requirement #2: Regulatory Requirement: Cost: Regulatory requirement #3: Regulatory Requirement: Cost: Regulatory requirement #4: Regulatory Requirement: Cost: Regulatory requirement #5: Regulatory Requirement: Cost: © Copyright 2013 Docstoc Inc. 13
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