Monday, November 3, 2008

Market Research

On October 22nd, 2008, we sent out a survey to certain members of the Skidmore community. Since that time we have gotten many results and really good information.

Over half of the people we surveyed drank tap water from Saratoga and 65.6% stated they do not like the taste of this water. Approximately 75% say they know the health and environmental impact that tap and bottle water have and 43.8% said they would like an alternative that is good for them.

The best number that we came across, however, was that when asked if they would buy a portable water filtration bottle that gets rid of the taste and the bad chemicals in Saratoga water, 71% said yes and 19.4% said they would need more information before they purchased one.

This is a great result. 71% of the people we surveyed said they would buy our product, that is a HUGE market. We were striving for 30% so this makes it even better. For our last blog post, Professor Wales commented that we need to see if we can make some orders, this survey shows that we have some sales already. Now we just need to make the product...

1 comment:

Dr. Bill Wales said...

Great work getting a survey together and collecting data, did you do it online? If so, what is the link? Be sure to incorporate the sample/survey and some key response metrics into your presentation/business plan. Also, be sure to discuss how you plan to attack the local market to grow your business locally.