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Fiery Hills Micro Society

Fiery Hills Micro Society. Creating a market survey. So, you have some ideas brewing!. First decide :. Do I want to offer a good OR service ? For Market Day, you will only be able to choose one of the above. Brainstorm a few ideas in a table. See the example below.

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Fiery Hills Micro Society

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  1. Fiery HillsMicro Society Creating a market survey

  2. So, you have some ideas brewing!

  3. First decide : • Do I want to offer a good OR service? For Market Day, you will only be able to choose one of the above.

  4. Brainstorm a few ideas in a table. See the example below.

  5. Narrow your list to two great ideas that you think will produce the most profit, or that you will enjoy the most. jewelry cupcakes

  6. Consider the following questions you might need to answer BEFORE you make your product or prepare your service. • ƒ size of market – How many people will buy your product? How many people are shopping? • ƒ pattern of demand- If people buy your product or service once, will they ever want to buy it again? • ƒ buying habits and motives – What prices will people be willing to pay for the good or service? How much money do people have to spend? • ƒ past and present trends for this or other products- Are there competitors out there? Do people like it enough you can offer something slightly different?

  7. Let’s Brainstorm What kind of questions might you ask your audience to find out the size of your market? Record your answers.

  8. Let’s Brainstorm What kind of questions might you ask your audience to determine the pattern of demand? Record your ideas.

  9. Let’s Brainstorm What kind of questions might you ask your audience to determine their buying habits and motives? Record your answers.

  10. Let’s Brainstorm What kind of questions might you ask your audience to determine past and present trends for this or other products ? Record your ideas.

  11. Now what? • Write up a survey for your market. • You might pose the following types of questions in your survey: • short answer • What types of desserts do you like best? • multiple choice • Which dessert would you most prefer to purchase? • A. cupcakes • B. rice crispy treats • true/false • I love cupcakes. True False • Or Likert Scale • On a scale of 1-5,( 1 being least likely, 5 being most likely) • How likely are you to purchase a cupcake if other food items are available at the market? • 1 2 3 4 5

  12. Once you have your survey ready for publication, notify your teacher so that she can help you polish your survey. Formatting is important!!Print out the right amount of surveys for the market and distribute them when notified.

  13. Collect your surveys for evaluation. Make sure you collect as many surveys as possible. In a few days we will analyze our surveys and decide how to graph our results.

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