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Conducting a Customer Survey
              Surveying customers is an exercise entrepreneurs do to understand if there is a market for what they have to offer.
              Through this survey, entrepreneurs try to find out if they meet the needs of their customers and also understand what
              their preferences are. Surveying customers is one of the most effective ways to find out what customers want. Surveying
              can be done by talking directly to customers and asking them questions.

              Understanding Competitors
              Before an entrepreneur starts a business, another important step in understanding the market is knowing which other
              companies in the market offer the same product or service. This helps an entrepreneur understand the competition he/
              she may face. Some key aspects to keep in mind while studying your competition are:







                                                                        Position
                                                                    (High quality/Low
                                                 Any offer given      quality brand,
                                                  to customer
                                                                          etc.)




                                                  Relationship
                                                 with Customer           Price











              Conducting a Competitive Survey
              Business  owners  need  to  survey  all  possible  businesses  to  find  out  what  is  available  in  the  market  and  what  their
              competitors are doing. In customer surveys, you go directly to your customers and talk to them, but in competitive
              surveys, entrepreneurs need to observe these questions and ask others. This is a sample survey that you can use for
              competitive research.


                  Questions                                             Observations (To be filled by students)
                  Customer outlook of business
                  1. High-end

                  2. Low-cost
                  Competitor Price for Product

                  Is any offer being given?

                  Competitor’s interaction with the customer

                  Customer’s feelings while buying the Product





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