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CREATE,
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(https://www.questionpro.com/blog/market-research-questions/)
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For example: A customer survey (https://www.questionpro.com/survey-
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templates/customer-satisfaction-surveys/) on market research of an existing
product line that focuses on the usefulness of speci c features in a product line.
Based on the feedback received from this survey, a business can now decide which
features to invest and enhance/improve, and which features to relatively
defocus/discontinue. This research, therefore, enables a business to ef ciently
allocate resources based on real, data-oriented insights from their own customers.
A similar set of market research questions can also be sent to potential consumers
of a product, to understand market absorption capability.
The primary reason you conduct any customer survey with market research
questions is to make effective decisions that grow your business by selling more to
both existing customers, as well as by acquiring new customers by increasing the
effectiveness of your product/service to better suit their needs. But when you take
even a closer look, we’re making these decisions because the main objective is to
become the obvious choice for that ideal customer. For that to happen and to reach
market research (https://www.questionpro.com/blog/what-is-market-research/)
goals, you need to ask:
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4. What sets you apart from your competition?
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Competitive analysis and bench-marking is critical if you want to increase the
pro tability of your product and build your brand. An effective way to measure
or identify differentiators or competitive advantage is to ask Customer
Satisfaction questions (https://www.questionpro.com/survey-
templates/customer-satisfaction-surveys). The key to asking these kinds of
market research questions is getting the attributes just right. For example
“How important is it that your tires have a run- at safety feature?” instead of
asking “How important is it that your car has tires.”
8. Why do people buy from you? What value or need does it ful ll?
Customers only buy from you because of a perceived value. This value is either
what you depict to potential customers or repeat customers have been privy to
the value of your product or service. Customers also make a purchase because
of the trust they have either in the product or service or the brand or
sometimes even certain individuals. It is therefore important that you
understand the value of your brand and stick to the morals and ethics of
delivering high quality to ensure that the perceived and actual brand quotient
is very high. The other reason why customers purchase from you is if their
need is ful lled by what you have on offer. This could either be a direct or an
indirect need.
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10. What single aspect about your brand makes it stand out and makes clients
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trust you?
People buy from you or transact with you mostly when there is a high trust
factor. Very rarely is the purchasing decision purely based on need or ease of
access. To identify and build on that one factor that makes you a preferred
buying choice over your competitors is very important. You can map preferred
aspects of your brand to age, sex, geographical location
(https://www.questionpro.com/blog/geographic-segmentation/), nancial
limitations etc. because each of those factors can appeal to your brand
differently. It is important that you identify and fortify those aspects of your
business. Your brand can also be preferred because of other factors like
personnel, customer service, ethos and perception amongst peers, consumers
and the society alike. Abercrombie & Fitch was a respected brand but lost a lot
of market share and goodwill due to CEO’s words in one isolated incident. It
takes lots of work and time to build trust but takes none to lose all of it!
11. What is the best way to communicate with the kind of people you are trying to
reach out to?
What’s caused the downfall for a lot of brands is the inability to reach out to
target customers despite their product or service being impeccable. Not
knowing how to reach your target audience or potential customer makes all
your hardwork go down the drain. For example, if a new life saving drug is
making its way to the market but medical professionals and doctors don’t
know about it or how to administer it and its bene ts, about 20 years of work
goes down the drain. You need to identify the right channels and avenues to
reach out to the people that will consume your product or service.
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14. What product or service improvements should be made to ensure a superior
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user experience?
Understanding service or product stagnation and imitation serves as a perfect
segway to this question. In a “what’s new?” hungry market this is “THE”
question to ask. Most of your customers aren’t looking for out of this world,
unimagined, unforeseeable products or services. They’re looking for simple
solutions that would solve their day to day problems. Your customers will not
know what next big thing you should launch but they will know their
frustrations and struggles. It is essential to frame your survey question right,
instead of asking “what improvements can we make to our product or service?”
, ask “what is your current struggle in your business?”, “what service would
improve the quality of your business?”. Approach from a point of “what can we
do for you?” rather than “what can we do for our service or product?”. The key
to bundling service or product is adding value to your customers’ business. It’s
a sure way to deliver value, build trust and retain a loyal customer base.
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18. What should the brand branch out into to avoid stagnation or imitation?
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While launching a product or service, it’s essential to understand where your
competitors stand on the same product type or service line. How soon can
they catch up to you and imitate your service or product? Stagnation, on the
other hand, is what brings the ultimate demise of a brand, product or service
line. With little innovation and competitors saturating the market by imitating
your product or service line, you’ll soon see customer base dwindle. To ensure,
your customers don’t drop out the key question to ask is “What next?”. The
best way to innovate or bundle your product or service is to understand what
your customers struggle with and what value they are looking for. For example,
Sony is known for its PlayStations but competitors like Xbox don’t take long to
catch up to their new products. How Sony does manage to stay ahead of the
market is by constantly branching into new products and services.
19. What bundled service or product that you can offer in conjunction with yours?
Good partnerships are hard to come by, strategic ones are even harder. This
question tackles two of your problems, how to offer something new to your
customers and how to reduce competitors in market. Your bundled service or
product though has to make sense to the use, should complement your brand
and cannot be an operational and logistical nightmare for your brand which
then makes it counter-productive. Facebook’s acquisition of Instagram to
consolidate on social images and short content rich video, is a strategic
initiative to increase customer base as well as reduce competition at the same
time. The key to building strong brand partnerships is to ensure your vision
and product values align. Summing up, offering a bundled service or product
in partnership will not only retain existing customer base but also attract and
increase new customers.
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No matter why you are conducting a survey, you’ll nd these 20 questions at the
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core of “WHY” you want to know. Remember, your respondents will read or spend
time with absolutely ANYTHING as long as they are at the center of it. Be sure to
keep these 20 questions in mind when creating your survey and everyone involved
will save time, aggravation and money.
Beyond these 20 market research questions, here are 300+ Ready-made Survey
Templates (https://www.questionpro.com/survey-templates/) for you to use
completely Free!
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