When it comes to market research, it is important to use surveys, and ask questions to your possible customers, to know what they want in a product. Depending on who your target audience is, what kind of product or services your business sells, and what information you would like to get from your target audience, are all factors that will influence the content and questions which are going to be asked, in the surveys that you create.
Determine the extent of the survey
The first step is to define the boundaries of the survey. The size of your market respondents, the demographics, and the type of questions all have to be decided before you create a survey. You also have to determine which aspects of the market you want to investigate, and find out where the best location is to reach that specific audience. Sometimes mailing out surveys works best, with other respondents it might be better to do an online research study; determine all of these factors before you hand the survey out.
Develop questions and answers
Once you have determined the market survey group, you then have to develop questions, and you should also create the “ideal” answers for them. Questions should be direct, and should have a clear and concise answer. You also have to devise a way of quantifying answers. So, if you want your target audience to rate their favourite colours with a particular question, you have to give them a method of rating (whether it is 1-10 scale, or A, B, C, etc).
It is also a good idea to consider variables that might have an effect on the survey research. If a respondent is part of a political group, or if they are influenced easily by friends or family, this can skew the results. Make sure you find a way to minimise the possibility of this happening, so you receive honest answers, and answers that are truly representative of the questions being asked.
It is also important to set the date, time, location, and completion time, in order for all surveys to be submitted. You want to make sure you submit the survey through a medium (online, mail, etc) which is going to result in the largest possible sample size, so that you receive the highest number of responses. You will then prepare the forms, and create a survey.
The larger your sample size is, and the more specifically tailored the survey is to the market research you are conducting, the better the results you receive are going to be. It is important to make the survey as pinpointed as possible, so that the individuals answering the survey, do not sway or discuss external issues or factors. You want the market research to be the main focal point, and if possible, you have to find a way to eliminate all external biases, so that you receive raw data that will help you improve the market research and work you are conducting.