Market Assessment Questions

Market assessment questions are part of a survey conducted by the marketing department of a company usually prior to the launch of a particular product. Such a document is designed in the form of a questionnaire, and is directed at understanding the market trends that might productively or adversely affect the launch of the product. Certain point need to be kept in mind while preparing market assessment questions:

  • The questions must be relevant and carefully constructed to pinpoint exact trends in the market. Competition must be assessed, the competing products evaluated and the need of the customers must be identified.
  • The market assessment questions must be such that they elicit distinct and definitive answers from the participants. The product launching is directly and indirectly affected by the conclusions thrown up by the result of the market assessment, and hence the questions should be direct and precise.
  • The questions should be easy to understand and relatively simple. However, this is dependent on the nature of the target audience or the interviewee. Care should be taken to consider the person answering the questions and the market assessment document must be prepared accordingly.
  • Market assessment questions must be neutral and unbiased. No inclinations, partiality or predispositions must be allowed to creep into the market assessment questions so that the interviewee or the person answering feels free to offer an untarnished and unrestricted opinion of his own without any coercion.
  • The aim of a market assessment question is to determine whether conditions are suited to make a business move or launch a new product. If this end is achieved, the market assessment questions will be deemed to have been successful.

Thus there are many points to keep in mind while designing market assessment questions and they determine whether the market assessment shall be successful or not.

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