Docstoc

Market Survey Plan

Document Sample
Market Survey Plan Powered By Docstoc
					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

				
DOCUMENT INFO
Description: 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 is also part of a package Business Strategy Starter Kit 18 Documents Included