Market Research Questionnaires
Questionnaires are commonly used as a part of market research to collect data that is specific and crucial to the success of a business venture. Without doubt, questionnaires will allow you to gather information that cannot be found elsewhere from, say, secondary information such as books, newspapers and Internet resources: this is because the information you obtain will be fresh and unique. Businesses mainly use questionnaires to find out people’s opinions on their existing or proposed products/services, and then analyze the results. This will then help you to determine the following key points:
- The likely performance of a product/service (demand)
- The buying behaviour of customers
- Customer attitudes towards existing or proposed products
- Customer awareness of a product/service/business
Questionnaires are still very much the cornerstone for market research and the effectiveness of the questions will be determined by the quality and structure of the questionnaire itself. By ignoring this fact, the results you obtain may be irrelevant, inaccurate and even inconclusive. The following article will help explain how to structure and develop your questionnaire in order to gain a response that can be used for an accurate analysis and constructive feed back.
Why do we Ignore Market Research ?
Market research is an area that many businesses avoid for reasons such as; they find it time consuming, expensive to implement, too difficult and mystifying. It is easy to make the mistake, as many people do, with the attitude of “if Mr So-and-so’s business is doing ok, then I’m sure mine will be just fine”. Within a short time, they will find that they are going out of business because they have not researched the market enough to determine success strategies specific to their business: and specific they must be. Why? Location, demand and environment will change from the smallest area to the next.
This is just one example of many scenarios, but the most common reason that people ignore market research is the simple fact that they do not know how to do it and even further, when they have done it – what to do with it. It is therefore important that you learn how market research is carried out (in this particular article, we focus on questionnaires) and how to analyze the results.
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