Assessing demand through a questionaire.

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 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. The questionnaires are given out to let the company know their customers e.g. age, religion, occupation. The questionnaire also lets the company know its customers wants, their demands, what makes them buy sports equipment or clothes, and what makes them prefer one thing to another.

My questionnaire had to be extremely precise in asking the right answers so that I can get a good suggestion of exactly how much demand there was for my Sports shop. I believe that my business appeals to a wide range of people in the youth/age segment. Clothes are one of the five basic needs and fashionable trousers are now seen more as a need than a want because of the high demand for them in the clothes economy. Therefore I expect some positive input from the questionnaire and I expect to see some sort of high demand for the product as my market research towards the right location has shown me that the area I have chosen to open the shop in is an excellent place for my business to become a success and I hope the demand is there.

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I chose people of different ages and occupation to give me a variety of answers but tried to focus on the younger generations for a more effective result as they are the more likely ones who will become the future customers. They were all random. In random sample survey, people that are chosen are selected from a list, such as the telephone directory or the electrical register, at fixed gaps of every 50 or hundred names. This makes the questionnaire more open and fair and helps                             ...

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