[ER-ELL-ENG-07] Market Analysis through interviews

Why is it important to conduct interviews?

Especially in the economic sector, but also in many other areas, interviews are an important method for obtaining information (Bortz & Döring, 2006). They are also a frequently used market analysis tool. For example, if Paula Groß, a cooking enthusiast, wants to offer mobile organic food for offices, daycare centers and retirement homes, she can find out in advance through an interview whether and to what extent this service would be used, how high the value is to be estimated from the point of view of the (potential) customers and which competitive situation prevails.

Accordingly, conducting the customer interview is particularly important for the market analysis. Through this, the exact market potential of a service idea can be determined and the content of this idea can be refined and adapted if necessary (Kröll, 2018a). Furthermore, the interview of (potential) customers offers the possibility to come up with new product and service ideas. Thus, the respondents could indicate that they would not demand the proposed service, but a related or slightly different one.

If there is already a lot of competition in Paula’s area and / or there are no or insufficient potential customers, she is faced with the challenge of changing or further developing her idea in order to still be able to succeed with the business idea. With the help of an interview of potential customers, she can find out in advance whether adjustments and possibly even which changes are necessary.

What is the aim of the interview of (potential) customer groups? The targeted interviews, based on the background of one or more service ideas, are conducted to determine the concrete regional and local needs and to find out how much chance of success and realisation potential a business idea has (Kröll, 2018b). Furthermore, it is important to gain initial experience in dealing with (potential) customer groups. This way, the viability of one or more business ideas is assessed. The results can then be the basis for further strategic decisions to be made. The interviews can be conducted face-to-face with the (potential) customers, by telephone and / or via the internet.