Question

Topic: Student Questions

Market Survey & Need Analysis For Floating House.

Posted by syafiq_saifullah on 4/30/2016 at 9:07 AM ET 125 Points
What is the different between those two? and what element i should consider when doing need analysis for a floating house? what should i include when doing a " market survey among target population to determine a viability of marketing floating house"? is it need to determine the behavior and trend of the customer in buying the house? My target market is lower and middle income especially which living in flood prone area (rural area). I'm going to do those two by using a face to face questionnaire. Is it reasonable to take 30 respondent from 3 different area? After i get a result, how to do a data analysis from the questionnaire? Lastly, its reasonable if i just estimate the price for one unit of house (the house using industrial building sytem which is the data for each material cost is Confidential in my country)?


My questionnaire:
1) age?
2) occupation?
3) Household size?
4) Household income?
5) Frequent of flood happen?
6) The condition of house after flood?
7) What would u do if the flood situation getting bad?
8) How long does the flood take to recede?
9) How would u get food and water during flood?
10) Estimation of loss or cost to rebuild a house?
11) How long it take to rebuild a house?
12) Would u invest in this floating house?
13) Did u ever heard about floating house?
14) If yes, Where did u ever heard about it?
15) What is your first reaction to the floating house?
16) If the price of the house is 100000-200000, would u invest on it?
17) Did you think floating house can minimize the loss during flood?

Scale Question (What do they need during flood)
1)Need of fresh water
2)Need of food
3)Need for money
4)Need for clothes
5)Need for Home
6)Need for electricity.


Is it this questionnaire already answer the market survey and need analysis?
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RESPONSES

  • Posted by mgoodman on 4/30/2016 at 8:41 PM Accepted
    A market survey is a tool for gathering data with which to conduct a need analysis. When you analyze data you need to consider the source and context/meaning of the data before you know what kind of analysis to employ.

    Any market research starts by identifying the objective and the expected use of results. (Write them down. It forces you to think through what you want and why.) Then you work backwards to determine which tool(s) to use and how you will analyze the data. So the sequence is: objective > methodology > data gathering > findings > analysis > conclusions > indicated action.

    Of course each of those steps has a sub-set of activities and decisions, but that's the general flow.
  • Posted by syafiq_saifullah on 5/1/2016 at 3:56 AM Author
    So basically u saying the need analysis come after doing a market survey? is it correct mgoodman? I have two objective right now.. 1) To investigate the need of sustainable houses in flood prone areas. 2) To conduct a market survey among the target population to determine the viability of marketing flood houses. the second objective make me confuse.
    From your opinion, is it my questionnaire already answer those 2 objective?
  • Posted by mgoodman on 5/1/2016 at 10:20 AM Moderator
    How will you use the results? What actions or decisions will you take/make based on the findings? How many of a given response will trigger an action?
  • Posted by saul.dobney on 5/2/2016 at 5:04 AM Member
    It looks like you're just guessing at the moment, so don't jump straight into a questionnaire.

    I'd suggest you start with some qualitative work - some simple depth interviews with householders will be a good start. What are their issues and concerns around flooding (is it even an issue)? What do they think about floating houses? How do they understand the concept? What problems, issues and objections do they raise? How do they get by without floating houses now? Try and identify who is likely to be interested and why (what needs have to be met). You might also think more broadly than just home-dwellers - constructors, regulators, councilors and housing associations for instance.

    From this you'll be able to draw up a questionnaire that you can take to a wider audience knowing what the core issues are and from this estimate the level of potential market interest.
  • Posted by syafiq_saifullah on 5/2/2016 at 7:37 AM Author
    i will use the result to determine either this house can be market or not and what the respondent opinion. it's like do they really need this house to solve flood problem in their area. During flood, they concern more on to their safety, things, either they can survive or not, a place that they can stay if flood getting worse, food and water, how to contact for a help. they think the house can minimize the risk, reduce the loss of property but is it really can float and will it stable if it float, will it stay on one place and so on. So basically, u saying my questionnaire is wrong mr saul.dobney? My target audience only on the flood prone areas. "Try and identify who is likely to be interested and why (what needs have to be met) " most of my respondent saying they do need this house but they need to consider it back since it involve a lot of money to own it (150,000K).
  • Posted by saul.dobney on 5/3/2016 at 7:18 AM Accepted
    The questions you have don't get into enough details at present - question 15 is the only one that asks what they think about a floating house and is very general and open. From what you've written you have other ideas that should be tested. For me, I'd like to know have they been flooded? What do they currently do to avoid flood damage? How interested would they be in solutions to prevent flood damage? Would they move to a new flood-proof house? Would they pay for flood-proofing? Then start with the details of the floating house. Does this meet their needs? What concerns do they have? Describe the concept in detail and find out what the key parts are to them, and what their main objections/issues are. With houses you might not need full market acceptance, but enough to indicate a potential demand - who are these people? What are their trigger points for purchase (lifestage, job change, aftermath of a previous flood, career improvement, inheritance)? What are their price expectations compared to a non-floating house?

    The way to think of this is that at the end of the research you will need to know precisely who to target, what messages to use on the promotion, what reactions a sales person might get when selling, and precisely what are the key features the house has to deliver to be valued by the customer. Your research should be looking to fill in these gaps.
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