new business module

INITIAL MARKET ASSESSMENT 77
Competitors may be very talkative and give you some vague
information, but constantly deviate from the subject of interest
by talking about things like family, the weather and minor
problems. Remain polite and try to focus on the topics of interest.
If you get no interesting information, thank them for their
time and leave.
Competitors may also be uncooperative and tell you, for
example, that they have no time for such questions as they
have a business to run. Such competitors are likely to end the
discussion quickly. Remain polite, thank them for their time,
and leave.
In all three cases, entrepreneurs can still learn something. They
can observe how competitors treat their customers (e.g. when
they entered the store, other customers that were there before
them), what the business looks like, what they sell, etc. These
observations can be valuable, too.
Do not expect a competitor to reveal essential information or
trade secrets!
Customers
The most likely place to find potential customers to interview
is where the customers typically buy similar products (e.g.
shops, market places). Many customers are likely to be in a
hurry and on their way to something else. Entrepreneurs
should anticipate that they will probably only be able to ask a
few simple questions.
Customers are likely to be surprised to be addressed and will
not understand immediately why they are being queried.
Prepare to explain your intentions briefly and simply.
Customers may react in different ways. They may be cooperative
and take the time to answer the questions. They may
counter with questions of their own: “Why do you want to
know this?”, “Do you know a better place to buy these products?”,
or “Did you have any bad experiences with this shop?”