Page 1 of 7
Step 2 - Detailed Market Analysis
New product #____________ Sponsor:______________________________________
Brief description:________________________________________________________
_______________________________________________________________________
Market analysis completed by:______________________________________________
Date started:____________________
Date completed:_______________
Customers selected for market analysis:
Customer name
Rationale for
selection
Contact person
Contact info (phone
or email)
1.
2.
3.
4.
Instructions for conducting customer new-product queries
1. Ask the contact if they can spare a few minutes completing the survey. It should
take no more than five minutes.
2. Describe product concept to customer in detail, using the description documented
on the New Product Proposal.
3. Read each statement to the contact, asking them to respond using the scale
provided.
4. Thank the customer for his time.
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Customer #1
Customer name:______________________ Contact person:______________________
Date contacted:____________ Contacted by:__________________________________
1.1. This product addresses our needs.
1
Strongly
Disagree
2
Disagree
3
Neutral
4
Agree
5
Strongly
Agree
3
Neutral
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
1.2. This product is unique.
1
Strongly
Disagree
2
Disagree
1.3. We are likely to purchase this product.
1
Strongly
Disagree
2
Disagree
3
Neutral
1.4. This product will enable us to be more successful.
1
Strongly
Disagree
2
Disagree
3
Neutral
1.5. This product is superior to alternatives we have now.
1
Strongly
Disagree
2
Disagree
3
Neutral
1.6. Estimated purchasing volume of this product in the first year:__________________
1.7. Special performance requirements:________________________________________
1.8. Special aesthetic requirements:___________________________________________
1.9. Special delivery requirements:____________________________________________
1.10. What else is important for us to know about this new product?_________________
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_______________________________________________________________________
Customer #2
Customer name:______________________ Contact person:______________________
Date contacted:____________ Contacted by:__________________________________
2.1. This product addresses our needs.
1
Strongly
Disagree
2
Disagree
3
Neutral
4
Agree
5
Strongly
Agree
3
Neutral
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
2.2. This product is unique.
1
Strongly
Disagree
2
Disagree
2.3. We are likely to purchase this product.
1
Strongly
Disagree
2
Disagree
3
Neutral
2.4. This product will enable us to be more successful.
1
Strongly
Disagree
2
Disagree
3
Neutral
2.5. This product is superior to alternatives we have now.
1
Strongly
Disagree
2
Disagree
3
Neutral
2.6. Estimated purchasing volume of this product in the first year:__________________
2.7. Special performance requirements:________________________________________
2.8. Special aesthetic requirements:___________________________________________
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2.9. Special delivery requirements:____________________________________________
2.10. What else is important for us to know about this new product?_________________
_______________________________________________________________________
Customer #3
Customer name:______________________ Contact person:______________________
Date contacted:____________ Contacted by:__________________________________
3.1. This product addresses our needs.
1
Strongly
Disagree
2
Disagree
3
Neutral
4
Agree
5
Strongly
Agree
3
Neutral
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
3.2. This product is unique.
1
Strongly
Disagree
2
Disagree
3.3. We are likely to purchase this product.
1
Strongly
Disagree
2
Disagree
3
Neutral
3.4. This product will enable us to be more successful.
1
Strongly
Disagree
2
Disagree
3
Neutral
3.5. This product is superior to alternatives we have now.
1
Strongly
Disagree
2
Disagree
3
Neutral
3.6. Estimated purchasing volume of this product in the first year:__________________
3.7. Special performance requirements:________________________________________
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3.8. Special aesthetic requirements:___________________________________________
3.9. Special delivery requirements:____________________________________________
3.10. What else is important for us to know about this new product?_________________
_______________________________________________________________________
Customer #4
Customer name:______________________ Contact person:______________________
Date contacted:____________ Contacted by:__________________________________
4.1. This product addresses our needs.
1
Strongly
Disagree
2
Disagree
3
Neutral
4
Agree
5
Strongly
Agree
3
Neutral
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
4
Agree
5
Strongly
Agree
4.2. This product is unique.
1
Strongly
Disagree
2
Disagree
4.3. We are likely to purchase this product.
1
Strongly
Disagree
2
Disagree
3
Neutral
4.4. This product will enable us to be more successful.
1
Strongly
Disagree
2
Disagree
3
Neutral
4.5. This product is superior to alternatives we have now.
1
Strongly
Disagree
2
Disagree
3
Neutral
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4.6. Estimated purchasing volume of this product in the first year:__________________
4.7. Special performance requirements:________________________________________
4.8. Special aesthetic requirements:___________________________________________
4.9. Special delivery requirements:____________________________________________
4.10. What else is important for us to know about this new product?_________________
_______________________________________________________________________
5. ANALYSIS
Average and median responses for questions 1-5
1. This product addresses our needs. AVG:______ MED:_____
2. This product is unique. AVG:_____ MED:_____
3. We are likely to purchase this product. AVG:_____ MED:_____
4. This product will enable us to be more successful. AVG:_____ MED:_____
5. This product is superior to alternatives we have now. AVG:_____
MED:_____
Themes and trends from questions 6-10
6a. Estimated purchasing volume of this product in the first year [average of all
responses]:_____________________
6b. Estimated purchasing volume of this product in the first year [median of all
responses]:_____________________
7. Special performance requirements:___________________________________
8. Special aesthetic requirements:______________________________________
9. Special delivery requirements:_______________________________________
10. What else is important for us to know about this new product?_____________
__________________________________________________________________
Page 7 of 7
Lowest
average
response to
any question
1-2.9
3-3.9
4-5
Guidance
Approvals needed to proceed to
Inside/Out Review
RED (danger, low market
acceptance, little perceived value
or uniqueness)
YELLOW (caution, moderate
risk, uncertain market acceptance)
GREEN (attractive, favorable
initial perceptions, market
enthusiasm)
CEO
V.P. of Innovation
Director of Sales
V.P. of Innovation
Director of Sales
Director of Sales
Approvals
________________________
Approved by
________________________
Title
____________
Date
________________________
Approved by
________________________
Title
____________
Date
________________________
Approved by
________________________
Title
____________
Date