Validate customer related concerns
- 1. VALIDATE CUSTOMER RELATED CONCERNS A. INTERVIEWS- are conducted one-on-one with professionals who can give detailed responses because of their knowledge in the industry. There are three groups within target market to listen: 1. Existing customers - this group includes customers that recognized a problem and purchased solution to solve that problem. 2. Evaluators - this group includes both customers (competitive wins) and those customers that have selected competition (competitive losses) 3. Potentials - this group of customers that haven’t purchased type of product, but have tried to solved the same problems through internal efforts. B.FOCUS GROUP DISCUSSION – interactive group setting with a moderator, where a group of people/customers gives face-to- face feedback. - Is a form of qualitative research in which a group of people are asked about their perceptions, opinions, beliefs, and attitude towards a product, service, concept, advertisement, idea or packaging. C.SURVEY/RESEARCH – uses a written or online questionnaire to be completed by the person being surveyed, or a telephone interview, or personal interview. - Is the study of the spending characteristics and purchasing power of the customers within business geographic area of operation. 1. Telephone Interviews – is a expensive, fast way to get information from potential customers. Procedure: I. Prepare a script before making calls and ensure to cover all objectives II. Keep your questions simple, clearly worded and brief
- 2. 2. Direct-mail Interviews – simple one-page questionnaire or elaborate with cover letter, questionnaire and reply envelop. Procedure: I. Keep questionnaire a maximum of one page, less than 20 questions II. Must be simple, structured with “yes/no” check boxes as respondents answer quickly and easily. STEPS IN IDENTIFYING AND VALIDATING MARKET PROBLEMS 1. Ask The Right Questions – prepare questions before performing an interview, answers will improve probability to accomplish objectives. - Quantitative questions will validate market problems and quantify solution in solving those problems. 2. List Your Target Market’s Problems – write down three to five most important or pressing problems in target market. - Send out e-mail and task top three problems that you solve for customers, rank them in order of importance to the customer. 3. Interview Decision Makers – best practices when interviewing decision makers to improve interviews and response rates. 4. Build A Database – it will allow to validate problems and identify important trends in the market problems that solutions addresses. 5. Analyze Stated Customer Problems – analyze the date to identify problems that missed - Validate written problems as real to market and not problems to hope they have.