Why use a market research template?
Market analysis is the central tool for market researchers to collect data about a target market, a product or a service. The collected data helps the company to understand consumer purchasing behaviour, the competitive landscape and potential market risks.
Market research surveys are conducted through many different channels: online portals, field research interviews or focus group discussions, or via e-mail and telephone. In market research, a ready-made questionnaire is usually used to structure the survey and obtain the desired information.
In recent years, the use of online questionnaires in market analysis has become popular. They are easy to create, require less effort in distribution and achieve a greater reach. On the other hand, they can be limiting in terms of profound topics. In this case, personal market surveys have a clear advantage.
In this article we will briefly discuss:
1. The challenges of conducting market surveys on site
2. The structure of a questionnaire in market research
3. Solutions to meet these challenges
The 3 challenges of on-site market analysis
Personal market surveys on site present challenges that can result in coordination difficulties, delays in implementation and strain on resources. The following challenges are more common in market research with field studies:
- For market surveys, especially when they take place in the field, the necessary staff, materials and equipment must be on site, which involves a lot of logistical effort.
- If changes are made during or after the market survey, this means that more time and resources must be spent locally to implement new policies. This can lead to delays and put pressure on the market research budget.
2. the data collection
- After a market analysis has been performed with the desired template, the collected data is sent to the team leader for analysis and interpretation.
- For paper-based questionnaires, the data must be entered in a time-consuming manner in order to send the information digitally, or letters are sent out manually, which are then evaluated on the computer.
3. interpretation of the data
- The data for market research from the respective questionnaire must be collected, organized and analyzed. This requires a lot of bureaucratic effort and time.
Market survey questionnaire: The structure
In addition to the selection of question types, the structure of the questionnaire is decisive for the quality of a survey. A well-chosen structure supports the survey participants to find their way around and to answer truthfully. In market research, a questionnaire should always be structured according to the following pattern:
- Introduction: This section provides information about who is conducting the survey, what purpose it serves and why respondents should participate.
- Guidance: This section explains how to fill in the questionnaire and what you need to bear in mind when doing so.
- Main part: This part of the survey contains all questions regarding the content. The questions should be sorted by two rules: (1) from general to concrete, (2) from simple to abstract.
- Demographic questions: This section of the questionnaire asks for information about the person that is important for market research.
- Conclusion: This part offers the opportunity to thank the survey participant and leave room for comments.
Solve challenges in a market survey with a template
In market research, having a questionnaire filled out on site is associated with many challenges that can be easily mastered with new technology.
With Lumiform's mobile app, any type of market research questionnaire can be easily completed using a tablet or smartphone - online or offline. With the desktop software, surveys are created and the data collected on site is later evaluated. This significantly reduces the risk of quality losses and documentation errors.
Lumiform offers market researchers and their team numerous advantages:
- With the flexible form construction kit you can easily create new templates for surveys and update them at any time. The employees at the survey location have immediate access to the new version.
- Set individual time windows and deadlines for surveys. In this way, you can keep track of questionnaires that have already been completed.
- Lumiform's intuitive mobile app and software makes it easy to create logical and complex questionnaires.
- In addition, Lumiform also offers premade templates via prepared templates, so that digital work can be started quickly and safely.
- Reports are created automatically - this saves the complete postprocessing.
- The very simple operation offers no room for error when filling out the questionnaire. The respondent is simply guided through the survey by the system.