Exploring a new product, market or business model? Benefit from new thinking and first-class expertise at only 40% of the project cost under the Knowledge Transfer Partnership Programme, worth between £6,000-£40,000!! Email grants@bizplans.co.uk for further information.
Business Plan Market Testing
Are you starting up or developing your business?
Launching a new product or service?
Test the market first!
BPS can arrange to carry out all your quantitative market research surveys.
We have access to a large and diverse range of focus groups and consumer panels in more than 30 countries worldwide, including the United Kingdom, the USA, France, Spain and Germany.
Using an online survey, a specially selected sample group of your potential customers are questioned to find out their buying habits, their needs, their misgivings and more.
Why should I carry out quantitative market research?
- to confirm an idea
- to make a business plan credible
- to professionalize the setting-up of your business
- to convince financial partners and others
Primary market research is an essential stage in the business start-up process but many entrepreneurs don't do it - not least because of the supposed cost. The answers provided by a panel of people, who could be your potential customers, provide an insight into their habits, needs and preferences which can be used to make a judgement on
- how likely or not they would be to buy your product,
- how much they would pay for it, and
- how often they would buy from you.
How it works - step by step:
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Defining goals and methodology
This is an essential stage for the market research success. Its aim is to determine the questions for which you want to find answers.
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Questionnaire development
This step is about the form and the editing of the questions and answers. You have the option to build your own questionnaire or can ask us to arrange this for you. Every kind of question can be used (open/closed question, multiple choice, rating scale, different matrix of choices…)
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Survey testing
The survey is first sent to a few respondents. This test allows the questionnaire to be tested to make sure that it is correctly understood and to eliminate any other problems.
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Selection of a target sample of respondents
The research panels are made up of more than 900,000 international respondents (including more than 60,000 panellists in the UK) who agree to answer market research ('Opt In Principle').
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Survey answers
The respondents answer an online survey. Questionnaires are available online for a maximum of 2 weeks and are then analysed, so within a very short space of time you will have an excellent view of your business' potential and viability.
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Survey results
The results can be provided in varying degrees of detail according to your budget and can be used to identify more precise target groups of customers.
To receive a free no obligation quote for your market research, just fill in the form below.
Costs will vary according to the number of people in the panel, and their profile.:
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