Question

explain types of market survey conducted to get information

Answer 1

Explanation:

The 2 types of market research

• All market research falls under two distinct categories: primary research and secondary research. Primary research looks at any data you collect yourself (or someone you pay). It encompasses analyzing current sales, metrics, and customers.

1. Collecting primary research can include:
2. Interviews (either by telephone or face-to-face)
3. Surveys (online or by mail)
4. Questionnaires (online or by mail)
5. Focus groups gathering a sampling of potential clients or customers and getting their direct feedback.

Answer 2

Answer:

1. Market Surveys for segmentation: An organization can spot existing and prospective customers and understand why the customers have chosen their products/services and the prospects have not yet made a purchase. This can lead to a structured market segmentation and analysis.

2. Market Surveys for exploring various aspects of the target market: Get information about factors such as market size, demographic information such as age, gender, family income etc. to lay out a roadmap by considering growth rate of the market, positioning, and average market share.

3. Market Surveys to probe into purchase procedure: How does a customer deciding on making a purchase? What are the factors that convert product awareness into sales? This type of market survey will unveil awareness, information, free trial, purchase, and repeat.

4. Market Surveys to establish buyer persona: These surveys are to build a buyer persona by knowing about customer preferences, inclination, and capabilities of purchasing a product.

5. Market Surveys to measure customer loyalty: What is the degree of loyalty that the customers have towards and organization? The answer to this question can be obtained by conducting a market survey.

6. Market Surveys to analyze a new feature or concept: It is essential for an organization to include market-compliant features and concepts. By carrying out a market survey to understand which features to launch, will help all the teams involved in the feature development process to do that with proper research.

7. Market Surveys for competitor analysis: Healthy competition is always good for an organization’s progress. Market surveys done with the motive of competitor analysis will produce results about how does the target market weigh the organization’s products/services in comparison to the others in the market.

8. Market Surveys to understand the impact of sales activities: Sales activities are the backbone of an organization and it becomes crucial to keep track of these activities. Market surveys for sales activities will produce a report of the impact of sales activities, whether their frequency needs to increase or any changes the audiences think should be inculcated in the sales process.

9. Market Surveys to assess prices for new products/services: Affordability of products also is an aspect that drives the market for organizations. Price ranges, product variants to cater multiple price ranges, target customers for each of the products etc.

10. Market Surveys for evaluation of customer service: Good customer service can lead to enhanced satisfaction levels among customers. Factors such as time taken to resolve issues, the scope of improvement, best practices of customer service etc.

Explanation:

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