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How do I conduct market surveys that narrow down my targeted customer?

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Mohannad Mounier

Consulting advise for lean establishment in UAE

Hi, I been looking around for some options for some startups business planning.

I found an interesting free platform called SurveyMonkey.com, where you can create customized questions and you can spread to your friends and to public, using the results to understand your target market, and more such as branding to concept testing, know what your consumers want with surveys.

Check it out, and if you need any help, let me know.

Cheers,
MM

Answered almost 8 years ago

Lauren Dowdle

Content Writer, Social Media Specialist

The top-down approach is where many businesses start in determining the size of the market. With this technique, you’ll begin by researching the addressable or total market for your product or service.

Then you’ll need to form a reasonable estimate of your portion of that market, which becomes your available market. Thorough research of the market, your industry and competitors is the key to accurate estimation.

Most industries have reports that talk about market size held by existing leaders in the space. For example, Ibisworld and Gartner are two great places to start. They publish regular reports on consumer and business markets and they’re extremely accurate.

Here are more ways to figure out your market size so you can better define your targeted customer: http://www.fieldboom.com/blog/market-size/.

Answered over 7 years ago