Simple market research template

Triangulate information from multiple sources rather than relying on a single data point. For customer demographics, combine industry reports with your own customer surveys and sales data. For competitive analysis, examine competitors’ websites, use their products if possible, and gather feedback from customers who’ve used both your product and competitors’. This multi-source approach provides more reliable insights.

Start with what you know and mark sections where you need more data. The template serves as both an information repository and a guide for future research. Prioritize gathering information for the most critical business decisions you face. Even partially completed, the template provides structure to your market understanding and highlights knowledge gaps that need addressing through further research.

After completing the template, identify 3-5 key insights that surprised you or confirmed suspicions. For each insight, ask “What would we do differently if this is true?” This question bridges research and action. For example, if you discover your target audience is younger than expected, you might shift marketing channels toward platforms that demographic prefers. The template provides the foundation; your strategic thinking creates the value.