How to Conduct a Market Survey

  • Start at the macro level, for example, to understand needs, actions, behavior, and opinion of test-takers of a particular product/program
  • The micro-level survey will involve understanding the resources (institutions, competition, etc.) contributing to the same
  • Analyze the competition: How many of them offer a similar program in the area; why are they preferred by students; what all are their best resources; details on fees, infrastructure, student numbers, etc.
  • Collect feedback on existing competitors from students and their parents, and employees
  • Identify the market size, and pinpoint the needs that are not being identified and addressed after meeting students, parents, teachers, and faculty members
  • Do a SWOT analysis to identify the specific product/program to be offered, as well as the most effective tools for marketing