Best Free Survey Tool for Market Research

Best Free Survey Tool for Market Research

5-7 minutes

Anyone who runs a business knows that it’s important to get to know your customers. Market Survey is an investigation into the state of the market for a particular product or service, including an analysis of customer needs and preferences. The information gathered during this process allows you to better assess market size, market needs, and the strategy your team should adapt to meet customer needs. The market survey is typically employed in situations where the customer data or insight is required to forecast the demand, for example:

• What do they want out of a product?
• Which price entices them the most?
• Is there a particular feature they look for or did something else brings them in?

These are all important questions to ask before launching a product.

Types of Market Research

Market research surveys are used to gather information about customers or potential customers for your company. Many different types of market research cover various areas of study that can help you to make the most profitable decisions about marketing, product design, pricing, customer service and other facets of your business. Here are some of the common types of use cases of market research business is often interested in:

Market Segmentation Evaluation

One type of research survey, the market analysis, can be used to answer questions about the market as a whole. These surveys can have different focuses and can be given in person, in a group setting, over the phone or by mail. Market analysis surveys are meant to determine the general attitudes of consumers. The wants, needs, priorities, and values of consumers can be explored, as can their past consumer preferences. These kinds of surveys allow you to see what consumers are looking for and what they find important. This type of surveying is generally used to get a feel for the market and to develop a target audience so that you can hone your specific approach.

Product Evaluation

A detailed understanding of how your product meets (or doesn’t meet) your customer’s needs is crucial both to product development and marketing, so these types of market research studies need to be conducted throughout a product’s life.

Product evaluation can allow consumers to point out chances for improvement. Reactions like “it’s great, but…” that can give insight on how to tweak your product or service for the customers. Product evaluations also allow customers to compare your products to your competitors and to give feedback on pricing, prices and other quality indicators.

Advertising Evaluation

Advertising products can help establish your identity as a company, promote products, attract new customers, and boost your sales revenue. It is important to understand that advertising your product successfully is not a task that can be completed through speculation; it requires a market research process that should be conducted and evaluated before and after the advertising campaigns.