Before an answer to your query can be completed, more information is required.
First, is the 25 figure really the sample or is it the population of potential
customers? If it is the latter, simply question all 25 with a mix of Likert
Scale and "Yes/No" responses. With a high tech product, visiting with the
target customer's executives might be the best solution to gauge interest.
Second, if the 25 is indeed a sample, what is the size of the potential
customer base (population). Third, a good visit to a proximate university
library and browsing through a good market research text will explain many of
the questions you ask. Since the "25" appears fixed and not a random
sampling from a given population, it makes a difference in looking at it
statistically. It is called a "convenience" sample, i.e., these 25 were
already in place or selected because they are cooperative. Those 25 might
differ from other customers in an important way. Unless the 25 number is
sine qua non, why not determine the total number of potential customers,
randomly select a sample from them and then analyze the results with standard
statistical procedures?
In article <002901bf63f2$35665e80$210000c0@grant>, [EMAIL PROTECTED]
(Grant) wrote:
>Dear Edsaters,
>
>I have a client who would like to determine the demand for a very high-tech
>product and would like the results to be rigorous as they will be used to
>convince investors of the need for such a product. The problem is that the
>sample size is only about 25. Besides frequency counts and percentages how
>else can one analyses the results to show that there is a demand for the
>product? Any suggestions on important questions that need to be asked will
>also be welcome. I have read that a simple yes/no scale is better that a 5
>point likelihood scale for demand type questions. Any thoughts?
>
>Kind regards
>Grant
>
>
