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Assessing demand through a questionaire.

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Introduction

DEMAND REPORT DEMAND REPORT ON A QUESTIONNAIRE It is rather imprudent to start a business if there is inadequate demand for the product. Demand is the amount of a product that consumers are willing and able to purchase at any given price. Demand is concerned with what consumers are actually able to buy (what they can afford to and would buy), rather than what they would like to buy. I have decided to open up a sports shop and my shop would predominantly favour the selling of tracksuit bottoms for all sizes but mostly youth sizes. I was not sure if there was a sufficient enough demand for my products so I decided to produce some kind of research and survey to find the interests of the local citizens who were mostly likely to buy my product. I decided to use primary research and one example of this is a questionnaire with all the right questions to help decide what to do afterwards. I am also going to research the market so I can get information about consumers by studying statistics and reports and gathering new data by surveys of individuals or groups. I have decided that my products will mainly be market-orientated because I think it would be a big risk to produce a product in which the demand is too low and therefore I may not recuperate my investments and money that I produced and distributed the product with and therefore leading to no profit and that could even eventually destroy the business. ...read more.

Middle

The age of the interviewees does not really give me enough information about demand but I know from this result that more adults need to be interviewed in order to get a more fair and non-bias result. When I asked, "what gender are you?" I interviewed 6 males and 6 females; a fair balance for a fair result, the results had to be a fair point for both sexes as the business is for both male and female. Although I asked this question, I now know that it would be fairly clear whether they were male/female so there was no need to ask this question. The question is important however to see what the different sexes need and want and to compare and contrast the results. When I asked "would you like a local sports shop in your area?" all the children and adults said yes which was expected but the O.A.P said they didn't mind which was also expected. The younger generation wanted a local sports shop but the older group either said yes or I don't mind. I assumed that the older the interviewee was, the less the less chance he/she would consider wanting a sports shop in their area. I know that there is no other sports shop in the area and therefore took a risk by choosing the location but the result proved that youth community generally wanted a sports shop. When I asked, "what do you like buying from sports shops?" ...read more.

Conclusion

The data is placed into the cells and once selected the data can be changed into any graph using the graph button on the top tool bar. You should end up with something like this: CONCLUSION From the questionnaire I know now, that I should use quota sampling on the younger age groups to get a more accurate and precise set of results as they are the more likely future customers. I have found all this information from the random sampling survey that I have carried out but I now know what to do next before making any rational decisions. From the results I will consider the age/sex and I will try to conclude in why they chose the answers and to see the demand and wants that a likely customer would want. The majority of people asked were either children or students, so I would particularly want to know their wants from the sports shop and how much of each product I'm likely going to sell. I should also survey more people for better, more accurate results and to survey people with different occupations, to see how occupation affected the results. I have decided that I am going to redo the questionnaire and this time I will use more open questions to really find out the customers ideas and thoughts and therefore see how the demand is from there. The results show a demand for the product/products I am going to sell because the area is a 'sporty' area and I believe they need some kind of sports wear/equipment store so they can benefit. ?? (footnote continued) ...read more.

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