2006 Q2 Online Market Surveys – Recent Cases
When you need market research with a quick turnaround time, consideration should be given to online market surveys. For this type of research, SPG has partnered with a company that has developed a panel of approximately 2 million consumer and 1 million business panelists. Each panelist has created a profile of demographic and psychographic information specific to him or her. These panelists cannot be over surveyed and can be used strictly for market research purposes only so as not to jeopardize the integrity of the research. A few examples of online market surveys will illustrate how these panelists can be surveyed to gain specific information for determining the market feasibility of a product or project. Online market surveys are used by most of the leading research companies in conjunction with their clients ranging from Fortune 500 companies to entrepreneurial start-ups.
Health Club and Entertainment Center
An entrepreneur was considering the building of the proposed facility on the outskirts of a major metropolitan area. Based on desired characteristics we wanted to survey families with household incomes of $75,000+, an interest in health and fitness and living within 15 miles of the intersection of the proposed site. A 20 question survey was designed by SPG and uploaded to its secure web site. Our partner emailed invitations to its panelists based on our predetermined criteria. We wanted to complete surveys from 250 people. Within one day we reached the desired number of completed responses.
Information on interest level in the facility, programs to be offered, amenities of importance, membership pricing and hours of operation were compiled from the online responses and this information was instrumental in securing financing for the facility.
Software for Computer Games
A company with a recently acquired patent was seeking to determine the market potential for a product that would be manufactured on a contract basis and integrated with computer gaming using the USB port. Prior to product launch, SPG designed an online survey used to gauge the importance of several product features along with pricing information. Only those panelists with a very strong interest in playing computer games were permitted to participate in the survey. Within 3 hours we had compiled the required number of completed surveys. A report including information from the online market survey along with an overview of the industry in terms of growth trends and competitive forces was prepared for the client company. The information was used as part of the financing package to bring the product to market.
Cycling Camp in Europe
The objective for this project was to determine the feasibility of establishing a facility within a specific European country that could be used by cycling enthusiasts from America. A major challenge was to identify cycling enthusiasts that have high income levels and a passion for travel. Based on precise demographics we were able to achieve the desired goal of completing an online market survey from 350 respondents within two days. Of particular interest to us were the responses to open ended questions that helped us to address potential obstacles. Subsequent to the market survey the client requested our assistance in the development of a comprehensive business plan.