How to Do Market Research in 6 Steps

Create the Quiz

In the list of tools that I will present in the next topic, there are some that are used to elaborate questionnaires. But of course, they will serve as templates, models or formats, and for distribution and capture of results.

The questions themselves are your responsibility. And they have to be very well planned. Try to ask clear and direct questions that do not have double meanings or multiple interpretations about Market Research.

Take care to be impartial. Do not try to induce participants to respond to something that meets what you would like, but perhaps not what they would actually respond to. Give openness and freedom to be honest. Otherwise, your search will have no value.

In objective questions, with scores, for example, try to give enough options to detail the participant's feeling. Always in odd numbers!

And do not confuse the user. If you ask positive questions with a certain range of answers, do not change the question to a negative one, where the scale would look the other way around.

For example:

Are you satisfied with the service of company X?

Choose from 1 to 3, being 1 very dissatisfied, and 3 very satisfied.

The person chooses the 3, as being something very good. So you ask,

How likely are you to trade our company for a competitor?

Choose from 1 to 3, 1 being unlikely and 3 being very likely. Realize that the first question, the best answer is option 3, while the second question, this weight is reversed?

This not only confuses the user, but also disrupts the data analysis, since you will add all the "3" answers and you will find that your indicator is good, when in fact some 3 refer to something negative.

Be sure to Apply Impartial Form Questions

I have already commented that, in the construction of the questionnaire, you need to take care that the questions are unbiased. In the case of online questionnaires, it may be easier to remain unbiased.

But when the Market Research is done face-to-face, or even over a phone call, their expressions and tone of voice may end up inhibiting the honesty of the participants.

This is also extremely important in the case of employee satisfaction surveys, for example.

Imagine a manager or director asking satisfaction questions to their professionals. Or, still, questionnaires with identification of name and sector.

Certainly, professionals will not feel comfortable speaking everything they really think about the company, the environment or their co-workers.

Review Responses and Generate Reports

After performing the Market Research, it is time to analyze the results.

You need to tabulate the information by grouping it into patterns. With this you can create graphs and tables for a visualization of the situation of your problem.

The reports generated with the survey will be a source of consultation for understanding your Market Research goal, and future decision making or action planning for the attention points.

As time goes on, as you conduct new Market Research, you can keep up with the evolution (hopefully it will) of the positive results.

Posted on June 01, 2018 at 01:08 PM