A business problem, lingering opportunity, or buried knowledge cannot be uncovered by guesswork and rule of thumb. At an age where competition is stiff, proper market research is an absolute necessity. Without it, it’s almost impossible to survive in the market. Apart from fighting the competition, market research can help the company discover exciting trends, consumer behavior, and new business opportunity. Identifying the opportunity enables them to improve efficiency and maximize revenues. Today companies may not solely rely on market research agencies to carry out research. They can do so by using a market research software as well. Here are the top market research software organizations can use to generate meaningful insights:
Best market research software
Pricing is one of the most sensitive topics for any business or consumers. Companies often indulge in price wars to beat their competition. However, a smart approach is to compare prices over time for different products to get an accurate overview. Pricewatch enables you to do just that, instead of manually observing prices over time for various products, it checks competitor prices frequently and provides comprehensive and high-quality pricing data. Their database consists of products that are matched on GTIN codes, which give accurate data and are updated multiple times per day. Good News! It also offers a free trial before taking up the full services.
Survey Monkey is an online survey tool and gets answers to 16 million questions daily. The survey can be used not only at the customer’s end but also for internal employee survey. The tool allows easy and advanced collaboration to share research results with related stakeholders. Top companies such as GoPro, HP, Lyft, Nextdoor, and Box use their services. Their free plan allows the user to perform an unlimited survey with ten questions per survey and up to 100 responses per survey.
One of the fundamental market research tools is good old questionnaires. Question Pro allows businesses to conduct surveys and offers over 80 standard and advanced, ready-made Survey Questions, 50+ Sample Surveys and over 250+ Online Survey Templates. The software also includes tools for survey creation, distribution, and analysis. The Good part? The software is free for life. Companies like SAMSUNG, FIFA, HCL, ING, Honeywell, Microsoft, Deloitte, and GM use Question Pro for their online survey needs.
Dub InterViewer allows businesses to conduct face-to-face, telephone, and internet research from one centralized platform. The software can work anyplace, anytime, anywhere, and any mode. Their software comes with many types of questions available as templates. Additionally, they also have an inbuilt media library to increase response rates of questionnaires, such as Tag Cloud, Card Sort, DragToScale, Slider or Map Markers.
DataPlay takes data analysis and visualization to the next level of automation. It provides an integrated suite of applications which offers analysis, visualization, and presentation for market research. This market research software automates presentation generation and allows users to collaborate effectively. Their tool also allows for integrated project management, team and client collaboration, dynamic data authorization, automated slide generation, association mining, and intelligent data transformation.
CoolTool is an online market research software for professional market research. Its online survey engine includes neuromarketing solutions which are automated with NeuroLab. It provides users with powerful neuromarketing insights including eye tracking, emotion measurement, brain activity (EEG), and mouse tracking. The tool can be effectively used to test video, printed or digital advertising, product packaging, design, website usability, and shelf placement. The software provides results in terms of heatmap, opacity map, gaze plot, and area of interest. The company also sells hardware such as EEG kit, eye tracking kit, and neuro lab kit.
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