08.02.2007 22:33 Age: 13 yrs
Category: Market Studies, Electronics, Manufacturing Equipment

Global online market survey (VoC)


JSW conducted a global online market survey to evaluate the market position of its client. The client produces machinery goods for production mainly in the electronics industry. After JSW initially mediated a strategy workshop used for road mapping future trends in the industry, upcoming product requirements and developing a systematic internal view of  the client regarding its market position, it was decided to contrast the internal view with direct feedback from customers. Key questions to be answered in this "Voice of the Customer" (VoC) were the following:

  • Identification of market segments
  • Description of how these segments differ in their perspectives and their requirements in regard to the product offering of the client.
  • In addition, evaluation of the position of the client relative against the various competitors in the market.

The survey was drafted and tested with these complex needs in mind. Moreover, due to the complex nature of product features under consideration and the need to also get a view of the positioning of competitors in relation to our client an intelligent questions structure was developed to limit the amount of questions to each individual participant in the survey.

The questionnaire was translated in 4 languages (German, English, French and Chinese) and implemented as an dedicated online survey. This allowed in particular to implement the mentioned intelligent sturcture and thus limit the questions being asked to individual participants due to the cross-checks against previous answers from each participant.

Overall, the response from participants was very positive with more than 25% of contacted customers and other industry contacts actually completing the survey. While the survey in many instances confirmed the internal view regarding the clients market position it also provided some essential new lessons. Foremost among these was the realization that the sales force significantly over-estimated the price sensitivity of customers in particular in Asia and that there was a much larger than anticipated segment of feature oriented customers than previously thought. As a result, the sales approach was changed and with large success implemented.