5 Market Research Methods You Should Know
Posted: Tue Jan 07, 2025 4:14 am
Market research methods allow us to understand the needs of our clients in detail and obtain valuable insights for generating effective strategies.
If you would like to know which methods you can use for your next project, in this article we have compiled a list of the 5 most essential ones. Keep reading!
What are market research methods?
Market research methods are techniques and tools used to determine the viability of a new service or product through research conducted directly with potential customers.
These methods allow a company to discover the target market and obtain opinions and other feedback from consumers about their interest in the product or service.
Market research methods are a fundamental component in the research and development of a new product or service, and can be carried out by the company itself or by an external company specializing in market research .
What market research methods exist?
There are several ways to conduct market research. However, most ivory coast phone number companies use one or more of the five basic market research methods : focus groups, observation, personal interviews, surveys, and field tests.
What market research methods exist?
1. Surveys
Surveys allow you to assess a sample group that represents your target market with concise and simple questionnaires.
The larger the sample, the more reliable your results will be. You can choose between field surveys (interviews conducted in strategic locations), telephone surveys (less expensive than individual interviews) or online surveys (a simple and inexpensive way to collect data).
Online surveys
Online surveys are easy and inexpensive to conduct, and they allow you to collect a lot of data quickly. The data is generally fairly easy to analyze, even when you have to analyze open-ended questions whose answers may initially seem difficult to classify.
You may be interested in: Types of market research and their main characteristics
Personal surveys
Personal surveys are individual interviews that are usually conducted in crowded places such as shopping malls. They allow people to be presented with samples of products, packaging or advertising and to obtain an immediate response.
F2F surveys can generate response rates of over 90%, but are costly due to the time and labor involved.
Field surveys
Field surveys are those that allow the researcher to conduct a study in the natural environment of the target audience in order to better understand it. In these, the context is essential, since they are focused on understanding the perceptions of the population in the place where they originate.
Field work and surveys are important tools for sociological and public policy studies due to the value provided by the data obtained directly.
If you would like to know which methods you can use for your next project, in this article we have compiled a list of the 5 most essential ones. Keep reading!
What are market research methods?
Market research methods are techniques and tools used to determine the viability of a new service or product through research conducted directly with potential customers.
These methods allow a company to discover the target market and obtain opinions and other feedback from consumers about their interest in the product or service.
Market research methods are a fundamental component in the research and development of a new product or service, and can be carried out by the company itself or by an external company specializing in market research .
What market research methods exist?
There are several ways to conduct market research. However, most ivory coast phone number companies use one or more of the five basic market research methods : focus groups, observation, personal interviews, surveys, and field tests.
What market research methods exist?
1. Surveys
Surveys allow you to assess a sample group that represents your target market with concise and simple questionnaires.
The larger the sample, the more reliable your results will be. You can choose between field surveys (interviews conducted in strategic locations), telephone surveys (less expensive than individual interviews) or online surveys (a simple and inexpensive way to collect data).
Online surveys
Online surveys are easy and inexpensive to conduct, and they allow you to collect a lot of data quickly. The data is generally fairly easy to analyze, even when you have to analyze open-ended questions whose answers may initially seem difficult to classify.
You may be interested in: Types of market research and their main characteristics
Personal surveys
Personal surveys are individual interviews that are usually conducted in crowded places such as shopping malls. They allow people to be presented with samples of products, packaging or advertising and to obtain an immediate response.
F2F surveys can generate response rates of over 90%, but are costly due to the time and labor involved.
Field surveys
Field surveys are those that allow the researcher to conduct a study in the natural environment of the target audience in order to better understand it. In these, the context is essential, since they are focused on understanding the perceptions of the population in the place where they originate.
Field work and surveys are important tools for sociological and public policy studies due to the value provided by the data obtained directly.