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Launching a product? Create a poll for pilot studyThe purpose of launching a new product is to attract both individual customers and business houses to the product, besides giving general information about the product and, therefore, all product launching have to be exciting and informative. This is done with a view to increasing market share by providing the target customers varied options. Product launching also scales the growth of the organization and help to stand out in the market.There are many steps to product launching from designing, finding the target customers, knowing the competition, advertising, press conference etc.Every day many products are launched and many products also go off from the market for the simple reason of not doing enough homework before launching of the product. In absence of research analytic there is every chance that the product may not be able to generate desired response from the market. To avoid such embarrassing situations that results loss of time, energy and money, the businesses conduct a pilot study about the product by creating polls.What is a pilot study?New product development involve costs, still the businesses do not hesitate to spend large amount for this as this is, in fact, an investment for generating revenues. A pilot study or feasibility study is a basically a short-term study that helps a business to understand how the product may behave in large scale launching. This market study tool involves testing questionnaire and evaluating responses from a small group and for projecting the results on a larger population.Creating polls For launching a product the business houses want to have quick feedback to know whether their new product launching will have enough market responses for generating revenues.To extract desired results from the polls, framing right type of question is an absolute necessity. Moreover, the questions should be short and simple and for this it is better to start with multiple choice questions for the potential customers to choose from various options. Polls should have some funny element to engage customers and evoke their responses and the questions formatted must be consistent with the product and its uses.How to create polls?Poll creation has three simple steps. It starts with formatting the relevant questions in a structured manner, setting options and lastly sharing and reporting. These can be done through social media or promotional mails depending on the nature of the product and the segment of customers. There are also many polls creating websites and their services can also be utilized for poll creation.Advantages of Pilot studyConducting a pilot study before actual launching of the product helps to assess the market response and also give an indication how it is going to score among the challenge from competition. It also indicates whether the pilot study is effective to project the product image and the target audience. Further, it provides feedback on the present market scenario and also projects future trend.Bottom LineAs pilot study for launching a new product is done through creation of poll on a relatively small population and then extrapolated the groups for pilot study should be selected judiciously. Article Tags: Pilot Study, Product Launching
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