Launching the right new product and tweaking existing products is key to attracting new buyers and retaining existing customers. In other words, it is critical to the overall success of your business. But it is important to not operate in a bubble by thinking that you are all omniscient in what your customers want. Making assumptions about your customers or even taking educated guesses leaves too much room for success-hindering errors. Fortunately, a product survey can help you tap into your customers' thoughts and opinions.
Thanks to online survey software, conducting a product survey is easier than ever. Whether you are in the beginning stages of prototyping a new product or looking to enhance an existing one, the great thing about product surveys is that they can provide valuable feedback for you to use in your marketing strategies. Not only are product surveys useful in product marketing, but in product design, product placement, and product distribution. Here are just a few areas that product surveys built with online survey software offer benefits.
* Current product and services line. To see where your current product or services are missing the mark, get feedback from existing customers through a customer loyalty product survey. Here, you will learn aspects about your current product line that customers like, and new features you might want to add to improve the product and services experience for existing customers.
* Product prototypes and new services. Product surveys are a useful survey tool both during the prototype planning phase or shortly before you plan to launch your product to market. This can help you narrow down the target audience and gauge interest in your new product or service.
* Price point. Knowing the right price point to offer your products and services is key to maximizing profits. Too low of a price point and you are leaving money on the table. Too high a price point and you could see lackluster sales. A quick-and-dirty price point product survey can help you determine if your product or service is appropriately priced in your target market.
* Find new markets for a stagnant product. A product that is stagnant or in a well-saturated market may do better in a new niche or alternative target market.
* Understand competitive analysis. Is your product one of many in a competitive marketplace? If so, conduct a product survey tool to learn more about your how your product is doing vis-a-vis other competitors in the marketplace.
Today it is easier to launch a product survey than ever before. Your product survey can be created with advanced online survey software that enables you to create a simple product survey to more complex questionnaire logic. It can be hosted on your own server or on the survey software developer's server.
Product surveys are a useful survey tool throughout the entire product lifecycle, from product prototype to product development to product maturity to product saturation and everywhere in between. So no matter what life cycle stage your product is in, be sure to conduct a product survey.
See also: http://en.wikipedia.org/wiki/Market_analysis