The customer survey is a survey questionnaire administered to 3,000 customers during the simulated period. It gives product awareness, purchase intentions and buying habit data for each customer segment in the market.
The product awareness figures represent the proportion of customers who have unaided recall of a product name. This is obtained by asking respondents a question such as: “What Squazol products do you know?” and allowing them to list several products. The report gives the information for each product currently on the market in total and by customer segment. See Figure 18 for a sample graph showing average awareness figures.
The purchase intentions figures represent the proportion of customers who would select a product as their first choice, if they were buying within a year. This is obtained by asking respondents a question such as: “Do you intend to purchase a Trigol product this period?” If the response is yes, then respondents are asked to indicate the product of their choice. The report gives the information for each product currently on the market in total and by customer segment.
Figure 17 – Market Research – Industry Benchmarking
See Figure 19 for a sample chart. Please note that these figures correspond to the period when the study is done and does not necessarily represent purchase intentions for the following year.
The purchase intentions figures represent the proportion of customers who would select a product as their first choice, if they were buying within a year. This is obtained by asking respondents a question such as: “Do you intend to purchase a Trigol product this period?” If the response is yes, then respondents are asked to indicate the product of their choice. The report gives the information for each product currently on the market, in total and by customer segment. See Figure 19 for a sample chart. Please note that these figures correspond to the period when the study is done and does not necessarily represent purchase intentions for the following year.
Two points require additional explanations. First, awareness is factored in purchase intentions. Indeed, if respondents are not aware of a specific product they will not list this product as the product of their first choice. Second, purchase intentions are normalized so as to sum up to 100%. This facilitates the comparison between purchase intentions and market shares but it may produce purchase intentions figures that are higher than awareness figures. A typical example is the launch of the first Trigol product: even if this product is known by only a few passionate innovators it will have 100% purchase intentions if it is the only one on the market.
Figure 18 – Market Research – Customer Survey – Average Awareness
Figure 19 – Market Research – Customer Survey – Purchase intentions by segment
The buying habit data represent, for each of the three channels, the proportion of customers who would choose that channel when looking for a Squazol or a Trigol product. See Figure 20 for a sample graph.
Figure 20 – Market Research – Customer Survey – Buying habits