Market research can support better decisions, reduce uncertainty and provide a clearer basis for planning. Companies frequently use market research to explore the following topics:
Table of Contents
Needs analysis
A needs analysis helps identify the future needs and expectations of potential and future customers. Online surveys can reveal these needs at an early stage, helping organisations respond to future developments and trends. This supports long-term planning and decision-making.
For more information, see: Conducting a needs analysis: definition, examples and templates
Product potential analysis
A potential analysis goes one step further by assessing the market potential of a specific product. It is generally most useful before a product is launched.
LamaPoll can be used to conduct target-group surveys and customer surveys. This makes it possible to gather results quickly and cost-effectively. Online conjoint analysis is particularly useful in this context.
Market analysis
Market analysis is often incorrectly used as a synonym for market research. A market analysis provides a snapshot of the current market situation at a particular point in time. It can therefore support short-term decision-making. Online customer surveys, supplier surveys and surveys of other market participants can provide timely, cost-effective information that helps organisations respond quickly and flexibly. Because fashions, trends and social conditions change over time, market analyses should be repeated regularly using primary or secondary research as appropriate.
Benchmarking
Benchmarking means comparing performance against relevant standards or reference values. It can focus on a product, the organisation itself or specific internal processes. The aim is to make a detailed, credible and realistic comparison with leading competitors or competing products. Important quality criteria include objectivity, validity and reliability.
Image
Image refers to the overall impression or perception held by a larger number of people or groups. The subject of that perception can be almost anything. An image reflects both positive and negative associations and can have a substantial influence on customers’ purchasing behaviour.
Surveys that examine how the relevant target group perceives a company, product or brand can quickly and cost-effectively reveal strengths and weaknesses. Using LamaPoll as a survey tool can therefore support efforts to improve product or brand image and enable more informed action. Choosing the right survey tool is an important prerequisite.
Other market research objectives
- defining and reviewing marketing objectives
- supporting decisions about suitable marketing activities
- measuring the success of marketing activities
- forecasting and identifying trends
- gathering information about customers and product preferences
- measuring customer satisfaction
- conducting product tests
- assessing how the organisation is perceived by the public
- conducting potential analyses
- monitoring the market
- conducting trend analysis
What is LamaPoll?
LamaPoll is an online survey tool for creating employee surveys and measuring employee satisfaction. With us, you can create, conduct, and analyse all types of employee surveys.
Set up your employee survey in just a few steps, customise it with your company's corporate design, and invite your employees conveniently by email or via your intranet. You'll gather insights to boost employee satisfaction in no time. Sign up for free with our online survey tool. You can then run surveys for up to 50 employees immediately and with no obligation. If you need more responses for your online employee survey, simply use our monthly plans. You can also make use of our templates and examples for employee survey questionnaires.
