A market research survey for a new or existing product is a simple method of gathering consumer feedback about a product or a new concept. It can be any product/service/idea that requires a healthy 360 degree reviews and feedback. It may be about products like household items, electronics or services like holiday packages, healthcare industry and the like. However small or big the product/service under the scanner may be, the process of the market research survey will be the same right from the beginning till its end analyzes.
Keep in mind some basic and simple criteria to have a smooth and effective market research survey. There are a variety of methods to conduct surveys. Online, mobile, paper, phone and face-to-face interviews are some of the most widely used and practiced methods of conducting market research surveys. Albeit, online ones are the most cost effective. Irrespective of the method of research survey you opt for, keep in mind your target audience. Make sure you are surveying the right age group, gender, demography and psychology as the response which you will get will have a direct effect on your product thereafter.
Discuss the drafting of the survey with the managers of various departments in the organization like the product managers, marketing managers, finance and sales as they are the people who are aware of the purpose of the survey having the insight about what exactly is needed out of it. Once you get the raw data from them, arrange and frame it into the market research questions.
It is not necessary that you have the knowledge of creating a survey. If you think you may not be able to do justice to it, outsource it to a research firm. They have the instruments, data, expertise and experience of undertaking a successful and effective product surveys.
Try and have as many open ended questions as possible and keep the survey crisp and short. The longer the survey with more questions, the lesser the number of people participating in it. To the point questionnaire and less brain wrecking, the better and faster the response will be. Once the survey is ready, test it with your employees and managers. Give it to the heads of various departments for a deep scrutiny and get their feedback. Refurbish it wherever required and get going with the research with the final one.
Have a thorough analysis of the survey done and take sensible and relevant steps required for the product to be launched or re-launched in the market. Analyze it with tables, graphs, charts and other advanced form of functionality.
A healthy and wise research is a must for a product/service to do well in the market.