Market Surveys
Have you ever been asked to fill out a questionnaire? What exactly is a questionnaire survey, and what are its different types?
First of all, a questionnaire survey involves designing a series of questions and then having respondents answer them, in order to obtain the necessary information and data. This is a very practical data collection method, whether a company wants to understand customer needs or a government agency wants to gauge public opinion - questionnaire surveys are commonly used.
Questionnaire surveys can be classified into several types:
Survey Form: There are paper-and-pencil surveys, online surveys, and telephone surveys, among others.
Questionnaire Structure: There are closed-ended questionnaires, open-ended questionnaires, and mixed questionnaires that combine the two.
Survey Purpose: There are exploratory surveys, descriptive surveys, explanatory surveys, and evaluative surveys, for example.
Different types of questionnaire surveys have their own advantages and disadvantages, so the choice should be based on specific needs. For instance, online surveys are lower in cost, but the respondents may not fully represent the entire population; while telephone surveys can better cover different regions, but may sometimes disturb the respondents.
Questionnaire surveys are a simple and practical way to collect a large amount of data. By designing a well-structured questionnaire, we can better understand the target group and provide valuable insights for decision-making. I hope this brief introduction has been helpful. If you have any other questions, please feel free to let us know.
Online Survey
Fast. Convenient. Low-cost
In the past, street surveys were difficult to conduct, so the cost of market research was high. However, with the popularity of mobile phones, online questionnaires have gradually replaced traditional telephone interviews or street interviews and become the most popular opinion survey method for corporate recruitment.
Mansfield will recruit respondents in advance or recruit respondents in an open manner. Generally, the opinion survey results can be obtained within a few days, which is convenient and efficient.
Street Intercept
Wide coverage. Real-time communication
As a common survey method, street interviews do have certain advantages.
First, this survey method can cover a wider target group. Unlike other surveys that are limited to specific environments or channels, street interviews can reach people of different backgrounds, ages, occupations, etc., thereby obtaining more comprehensive information feedback. This helps researchers gain a deeper understanding of the needs and opinions of all levels of society.
Secondly, street interviews are highly interactive. Researchers can interact with interviewees in real time, adjust their questioning methods in real time according to their responses, and dig deeper into potential problems. This face-to-face communication method can help researchers gain more vivid and detailed insights.
Street interviews do not require renting a venue or purchasing equipment, and you only need to prepare the questionnaire in advance to conduct the survey directly. This makes this method an economical and practical survey option, especially suitable for situations with limited funds.
Of course, street interviews also have some limitations, such as the respondents may be defensive or give perfunctory answers. Therefore, researchers need to maintain a friendly and patient attitude during the implementation process and clearly explain the purpose of the survey to ensure that more reliable and true information is obtained.
Street interviews are a flexible and economical survey method that can play an important role in many situations. Researchers need to carefully evaluate the applicability of this method based on specific research objectives and take appropriate measures to improve the quality of the survey.
How to decide the number of survey respondents?
-
Determining the number of respondents for a questionnaire is an important statistical exercise that requires balancing many factors. Here are some common recommended steps:
-
Population Size
First, it is necessary to clarify the size of the target population. This may involve the entire city's population, employees in a certain industry, consumer groups of a specific age group, etc. Knowing the approximate size of the target group is the basis for subsequent decisions on sample size. -
Research Purpose and Expected Accuracy
Different research purposes have different requirements for the required sample size. For example, if the purpose is to understand general trends, a smaller sample size may be needed; but if more precise statistical estimates are required, a larger sample size is needed. The expected precision of the results also affects the sample size decision. -
Reference Statistical Formulas
Statistics provides formulas for calculating reasonable minimum sample sizes based on target population size, desired confidence level, and margin of error. These methods can provide a more objective reference basis for sample size. -
Practical Feasibility
After determining the ideal sample size, appropriate adjustments need to be made based on actual conditions, such as survey cost, time, manpower and other factors. Sometimes there may be a trade-off between accuracy and feasibility.
In Hong Kong, the number of respondents for commercial market research projects is typically 300 to 500, and for survey projects on social issues, the number is around 1,000 or more. If you need more information, please feel free to contact us.
How do Businesses Use Market Research?
-
Improve aspects of their businesses, such as customer service.
-
Test interest in new products or services to respond to customer needs.
-
Find and develop new markets or expand existing ones.
-
Determine the feasibility of a new business. Market research is an essential component of a business plan for start-up businesses. If market research does not indicate a demand for the product or service, the proposed business will not likely be viable.
-
Monitor industry and economic trends and develop strategies to adapt the business to the changing environment.
-
Determine optimal product placement - when, where, and how a product or service will be distributed.
-
Monitor the competition - checking competitors’ ads, websites, social media campaigns, etc. to see how they attempt to capture some of your market share.
-
Develop competitive strategies - for example, setting competitive pricing for products or services or determining how your products/services and customer service compare to the competition.
How is Market Research Conducted?
Customer Surveys and Interviews
Customer surveys and interviews are conducted in various ways, including street intercepts, online surveys, and telephone interviews. This way of conducting market research about products and services is a simple, inexpensive, and effective way to survey customer preferences. Web-savvy businesses can use their online presence to conduct market research by encouraging customer feedback on business websites and social media.
Focus Groups
These are organized sessions with selected groups of people (based on their demographics, psychographics, buying attitudes or past buying behavior) where a scripted topic or Q&A discussion with a moderator takes place to collect useful information. The moderator will ask questions and participants will answer the questions and or discuss the issue with other members while the moderator listens, makes notes and asks additional more probing questions.
Mystery Shopping
This method is used to measure quality of service, compliance with regulation, and gather specific information about products and services. Mystery shoppers, as anonymous identities, are paid to perform specific tasks such as purchasing a product, asking questions, registering complaints, or behaving in a certain way, carries out these tasks then provide detailed reports or feedback about their experiences. It is ideally suited for retail businesses like fashion retail establishments that wish to test their front-line sales force service or product satisfaction. Food and beverage industries use mystery shopping research to measure the service quality of their staff.