Objectives of Market Survey Report
A market survey is a useful tool to obtain information from your customers. When the end results of such market surveys are put together to generate a market survey report it helps gauge the opinions of customers and make the right business decisions. Finding out what satisfies your customers acts as a key enabler of business success and a market survey report makes this an efficient and hassle-free process. Though there are several objectives that can be accomplished through market surveys, we’ve put together a few common objectives:
Establish positive relations: A market survey opens the line of communication between you and your customers, which means you value their opinions.
Understand your target audience: A well-developed market survey questionnaire comes in handy when you want detailed insights into customer needs and preferences. The more specific the questions, the better your odds are of successful conversions.
Receive feedback about your product/service: Inquiring your customers about their opinions and preferences helps you to be even more successful in your future business endeavors.
The client- a well-known player in the US food and beverage industry, specializing in the manufacturing of deli meat.
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The client was on the lookout for new and innovative ways to improve their brand offerings and launch new products in multiple markets. This led them to capitalize on the deli meat segment, though they took off well and their profit margins skyrocketed within a few years, the deli meat company was unsure of the specific customer needs in different market segments.
To carve a niche for their business in the global landscape, the core management of the company came up with the concept of manufacturing the ‘healthiest deli meat’ using appropriate and hygienic processes. However, prior to launching their new range of deli meat products and crafting the right marketing messages, they wanted to understand customer needs through a detailed market survey. To do so, the deli meat manufacturer collaborated with Infiniti Research to develop a market survey questionnaire that could help them better understand the consumer’s perspectives. Request a free brochure to know more about our expertise.
A market survey questionnaire forms the basis for developing a detailed market survey report. We adopted a holistic approach to the development of a market survey questionnaire which created the best channel through which the deli meat manufacturer gained detailed inputs from the target market. By doing so they were able to understand several aspects of the target market, which in turn improved the quality of their decisions.
The market survey report helped the deli meat manufacturer to answer crucial business associated questions like:
Do the deli meat products meet the needs of consumers?
What changes could be incorporated to improve the new product?
What sets it apart from similar offerings?
Do consumers have an appetite for deli meat products?
The key findings obtained from the market survey report were utilized to develop appropriate measures to satisfy the needs of the consumers. It also helped the deli meat manufacturer to blend industry knowledge, data, and innovation into actionable insights to aid their business strategy and product development processes.
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