Fiver Challenge

Fiver Challenge

Here is Step 2 of the Fiver Challenge. Remember, if you complete all 4 Steps, you will receive a certificate from me at the end of the challenge.

Step 2 – Research it!

Find out what your customers might want from your product or service by doing Remote Market Research. Use the “Remote Market Research Survey Template”, adding in your questions and asking friends and family what they think about your business. There are examples of questions below. Please note – this survey is only to be completed at home under parent/career supervision if necessary. You can use the telephone or email to get answers from people not in your house but only if you know the people already.

Market Research

When starting a business researching the market is very important. It can help you find out information about your customers, competitors and your business as well.

Here are some example questions to help you plan your market research

Who will buy your product/service?

How could you get them to buy your product/service?

How can you find out what makes your business stand out to customers?

What makes your product/ service special?

Are there other products like yours?

What do you know about them?

What is going to be your price? And will customers buy from  you at that price?

What other questions could you ask?

You can think of your own questions for your market research or use the questions above. When you have your list of questions it’s time to research your market from your house.

You could use phone calls, emails or ask people in your house to take the survey to see if they would buy your product/ service and why?

What did you find out?

Write about what you found out from your market research and email it to your class email.
Good luck and I can’t wait to see what you come up wit

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