30 Market Research Questions You May Want To Ask Your Customers
Market research may help businesses better understand the economic demands and needs of their environment. Careful analysis can help to reveal insights into who is buying a product, what services a market needs and how well people within a market respond to various types of advertising. This type of research requires asking yourself and customers a variety of questions that gauge your company's skill and effectiveness. In this article, we discuss 30 market research questions you can ask yourself and your customers before expanding your operation or taking other critical business-oriented steps.
30 market research questions to ask
When evaluating your operations, it may be beneficial to ask yourself the following market research questions. These questions may give you a better insight into your business operation and your place in the market. Consider these 30 market research questions to ask before your next big business or market change:
1. Who are our biggest competitors?
Which companies or firms offer a similar product or service to yours? How do they differ from you and how can you improve your operation compared to theirs? You may want to answer this question to discover what market positioning steps may help your company compete more effectively.
2. How dynamic is our market?
What is the limit of your current market? Have you done everything you can to take advantage of its vast potential? Are there things you could do to improve your position in this market? You could analyze data using growth projection charts to answer this tricky question.
3. What is our market share?
It may help to examine information about your market's overall size, your positioning in the market and what hold your competitors have on the market. Then, try to identify steps to improve your overall market share, such as expanding your operations to new areas.
4. What do customers think about our product?
How are your customers responding to your product or services? Do they seem satisfied? What can you do to improve customer relations? Consider using polls and surveys to get direct answers to these questions from your customers.
5. Where can we take more of a share?
You may want to identify gaps in the market where you could potentially expand your market share. For example, if your competitor ignores older adults and focuses on the millennial market, you could expand your services to the older adult segment.
Related: How To Conduct Market Research
6. Will our market shrink or grow?
What kind of market growth or shrinkage can you expect in the next few years? What may affect these changes? It may help you to identify why these changes occur and how you can improve your positioning.
7. Who is our ideal customer?
All businesses and services have an ideal customer who benefits from their product or service, as it exactly fits their needs. To better position yourself in your market, you may want to figure out your customer's persona, including their age, income and buying power.
8. What struggles do our customers face?
Your business likely fills a role in your customer's life by managing a struggle or need they need addressed. What struggle or need does your product or service help manage? Identify these answers to help your business find the best solutions for these struggles.
9. What sets us apart from our competitors?
What do you do differently or better than your competitors? Focus on ways to continue improving your advantages through research and execution to define your market presence.
10. Why do people buy from us?
You may want to research why people buy from you to discern more about your service. For example, you may learn that customers prefer your fast shipping speed over your competitors' slower times.
11. Do we do anything to help our customers trust us?
Does your business provide a warranty or other guarantee for your services or products? If so, how much do your customers trust you? Try to learn if your methods for establishing trust are helpful and what steps you could take to improve.
12. Which communication methods work best for us?
Try to learn if your company's methods of customer communication are effective, including emails, phone calls, chat lines and social media. Which method do customers like the best and why? These evaluations could help you identify ways to improve your communication with customers.
13. Do we have an overall brand vision or goal?
Companies with a well-defined vision or purpose can focus on success by knowing what they represent. For example, you may want to choose a private label brand for a selective market or place a focus on sustainability to attract eco-conscious customers.
14. Are we charging fair prices?
Try to figure out what your customers think of your pricing models. Do they feel the pricing is appropriate for your value? You may want to use this information to raise prices, lower prices or keep them at your current level.
15. How well do we execute our branding vision?
How do your customers relate to your branding image? Ask them how they would describe your company and then ask if this description aligns with the branding they've seen. Your customers' feedback about your image can help direct your branding needs.
16. How long have you worked with us?
Gaining multiple answers to this question may allow you to calculate an average customer loyalty. Requesting more details about their decisions in purchasing may help you learn why customers remain loyal to your business or go elsewhere.
17. Would you recommend us to a friend?
When asking this question, consider asking your customers for reasons they would or would not recommend you to friends. This can help you learn ways to improve your operation.
18. Is our ordering app easy to use?
Asking your customers about your ordering app could help to provide insights into its operation and usefulness. For example, they can tell you well it works and how effectively you met their order.
19. How would you rate a previous experience with us?
You may ask your customers to rate their last transaction with you to learn more about a shopping experience, transaction, shipping activity or product satisfaction. Their insight can help you understand how your current operation is running.
20. What can we do to improve our service?
It may help you to ask your customers what things you can do to improve your service. For instance, you may ask about your product quality and what changes could help improve its overall design and usefulness.
21. What new products or services would you like us to offer?
You can use this question to gauge your customers' interest in your products and services. Loyal and ideal customers can often identify needs that a company hasn't met yet and request products or services to meet these needs, such as extended sizing or colors or a product similar to a bestseller, but for a different season. They may also identify ways you can enhance your business's efficiency and effectiveness.
22. How does your family like our services?
Companies may ask this question to add more opinions to their market research. Different ages and genders within a family may use a product or service differently, and even children may have interesting insights you can use in your research.
23. In what ways do you use our produce or service?
You can ask this question to gauge how your customers use your product or service. The answers to this question may determine if customers are using it in the way you intended, or if people have found new uses for your product that may be marketable.
24. Is our website easy to use?
A company's online presence is essential, and this question gauges how well your site meets your customers' needs. Ask about its layout, design and ease of use. Are your customizable features helpful?
25. Do you feel comfortable ordering online from us?
If you have an online shop, you may ask your customers if they like your shopping experience. Are they able to navigate and find the products they need? Do they feel secure using your checkout and payment systems? You can ask them how often they use your online shop.
26. What advice do you have for us?
This question may give your customers the chance to offer you direct advice. The answers you receive may vary and could help understand your market presence and operation.
27. How would you rate our customer service?
Learning more about specific customer service experiences could help you understand its strengths and weaknesses. For example, try to ask your customers about the last time they used customer service, how well it met their needs and whether they'd use it again in the future.
28. Where do you purchase our goods or service?
If you conduct sales from a variety of storefronts or sell products through other vendors, this question can help you determine where you're doing most of your business. Ask your customers for specific details about locations if you'd like to establish data points.
29. What is your budget for our product or services?
Learning more about your customers' potential budget can help you determine the accessibility of your products and services. Knowing how much they're willing or able to spend on your products or services can help you gauge if price is a factor in your number of sales. You can follow up with questions that slightly change the pricing of products and ask their likelihood to buy at which prices.
30. Does our packaging meet your needs?
You may want to ask this question to gauge your packaging's effectiveness. Ask about ease of opening, durability and types of packaging for product safety. Also, ask about the customer's environmental preferences in packaging, as sometimes that can be a part of customer decision-making.
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