Close-ended questions 1. Where do you buy your glasses and other eyewear products? Department stores Online Eye care centers Purpose or rationale: To identify where potential customer buy their eyewear products from. This will help to identify a selling point with the most traffic. Method: In person interview and through email and telephone interviews. 2. Are there similar products in the market? Please tick where appropriate Yes No Purpose or rationale: To assess whether a similar product exists in the market. Method: In person interview and through email 3. How likely is the existing products satisfy your needs? Please tick where appropriate. Very likely Likely Unlikely Highly unlikely Purpose or rationale: To assess how existing …show more content…
Identify the target market (Who is likely to use or purchase your product or service?) Purpose or rationale: To identify the population that is likely to purchase the product. To describe the population in terms of age, size and location. Method: to be administered face to face and through email 2. Identify the market need. (Does the market need your invention or product? Purpose or rationale: To understand why potential customers will purchase the product. What needs the product will satisfy. Method: In person and through the internet. 3. What is the current estimated market size? (in terms of U.S. dollars) Purpose or rationale: To understand the size of the market and whether the venture will be profitable. Method: Conduct interview in person and through email 4. What is current estimated market growth? Purpose or rationale: To identify whether the market is likely to grow and whether the product’s market size is also likely to grow. Method: 5. Is there existing competition for your product? Identify both direct and indirect