To reduce risks. To reduce time spent on iterations. To reach customers better. Marketing traditionally was not a very precise field. A lot of things can go wrong when marketing a product. Your product might not be needed. It might not be practical to use. Your product might market to the wrong people, at the wrong place and price, or at the wrong time. Marketing research helps you be informed before entering a new market.
Market segmentation divides a large target audience into smaller groups with similar tastes and interests. Marketing strategies can then target these groups individually. Surveys can play a vital role for marketers in understanding the target audience.
Demographic surveys help determine the composition of a population under study by studying their age, gender, marital status, and other similar factors. Typically considered to be a part of marketing segmentation surveys, these surveys are sometimes independently conducted by marketers to gain a clearer profile of the consumer base. A basic profile can go a long way in product design decisions.
Concept testing measure your customer attitude towards a product idea by using qualitative and quantitative methods. It is an integral part of the product development cycle, enabling you to predict the success of your product and minimize the risks of a product failure.
Focus groups encourage a selected group of people to participate in discussions and share their opinion, thoughts, and ideas on selected subjects. Most people prefer focus group discussions because they are encouraged to speak up and raise their opinion in a non-threatening manner.
Keeping in touch with the online generation can be tough. Social media surveys achieve exactly that, making it much easier for you to share your surveys on the most popular social media platforms, including Facebook, Twitter, and Google+. Pay attention to your customers' favorite social media sites and gather customer insights in real-time.
Brand recognition gives you a foothold in any market. Most brand battles are lost even before they start, due to the marketers' lack of touch with the customers' perspectives. Surveys can help you understand your brand from your customers' viewpoint. They want to help you make a great brand.
So, now you know why market research is important. It's time to start making one. Zoho Survey is a great tool to help you do it. If you are feeling lost and don't know where to start we can help you out with that too. We have a lot of ready-made templates for you to choose from. You could start with the sample template above.