• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
QuestionPro

QuestionPro

questionpro logo
  • Products
    survey software iconSurvey softwareOur flagship survey solution. Sophisticated tools to get the answers you need.research edition iconResearch SuiteTuned for researchers. Get more insights. Response based pricing.CX iconCXExperiences change the world. Deliver the best with our CX management software.WF iconWorkforceEmpower your work leaders, make informed decisions and drive employee engagement.
  • Solutions
    IndustriesGamingAutomotiveSports and eventsEducationGovernment
    Travel & HospitalityFinancial ServicesHealthcareCannabisTechnology
    Use CaseNPS+CommunitiesAudienceContactless surveysMobile
    LivePollsMember ExperienceGDPRPositive People Science360 Feedback Surveys
  • Resources
    BlogeBooksSurvey TemplatesCase StudiesTrainingHelp center
  • Features
  • Pricing
Language
  • English
  • Español (Spanish)
  • Português (Portuguese (Brazil))
  • Nederlands (Dutch)
  • العربية (Arabic)
  • Français (French)
  • Italiano (Italian)
  • 日本語 (Japanese)
  • Türkçe (Turkish)
  • Svenska (Swedish)
Call Us
+1 800 531 0228 +1 (647) 956-1242 +52 999 402 4079 +49 301 663 5782 +44 20 3650 3166 +81-3-6869-1954 +61 2 8074 5080 +971 529 852 540
Log In Log In
SIGN UP FREE

Home Market Research

How Trend Analysis is Vital for Efficient Market Research

What is Trend Analysis?

Trend analysis is a method to analyze the statistical data and recorded market behavior over a defined period of time and generate valuable insights using this data for strategizing and forecasting future business plans. It helps to identify the dominant traits of the market and the consumers associated with it.

“In today’s complex and fast-moving world, what we need even more than foresight or hindsight is insight.”

 

trend analysis example

One of the reasons why organizations or businesses want to conduct trend analysis is to understand and obtain greater insights on how the market is reacting, what are the primary preference of the consumers and what are the strategies an organization would need to induce.

There are several ways in which the market trend can be analyzed. Some of the most popular market research methods are Quantitative Market Research methods like Surveys and Qualitative Market Research methods online interviews, and observing consumer behavior with supporting data. Amongst the above-mentioned methods, questionnaires or surveys help gather the best data insights.

I believe in innovation and that the way you get innovation is to fund research and learn the basic facts.

Bill Gates

 

How to use trend analysis for better market research?

This is a very common strategic tool for understanding market behavior. It also helps to make predictions for the future and helps an organization understand the relevance of creating a particular product and better strategic forecasting.

This involves collecting relevant data for respective pre-defined metrics and analyzing the same to get a clear picture of the performance behavior over a defined period. The authenticity of the data determines, the accuracy of the projection. More the accuracy, better the prediction.trend analysis example

Here are the factors to be considered for efficient trend analysis:

1. What does the consumer need: A business or an organization that understands the consumer needs are most likely to excel in providing the most suited product to its consumer. Consumer behavior shift can be identified by deploying surveys time to time. The data that is obtained needs to be analyzed to obtain accurate results.

2. Industry cost factors: One of the most important aspect that any organization should take into primary consideration is the cost fluctuation in the market. The cost factor comes into play if a similar product is available in the market at a lower cost. Analyzing consumer behavior with regards to changing prices plays a vital role in market research.

3. Changing dynamics of the market: Organizations need to analyze trends with respect to innovation in products, market competition, changes in operations and delivery methods. For example, if a particular product has dropped in sales despite all other factor being the same, it is time to do a situation analysis to evaluate the packaging, competitor’s products and alternatives available as well as a quick innovation check.

These factors help businesses to understand the market curve and stay ahead of its competitors. Here’s how QuestionPro allows you to analyze your valuable data and get insights into your business’s trend with our survey software and exporting insightful reports.

SHARE THIS ARTICLE:

About the author
Adi Bhat
View all posts by Adi Bhat

Primary Sidebar

Gain insights with 80+ features for free

Create, Send and Analyze Your Online Survey in under 5 mins!

Create a Free Account

RELATED ARTICLES

HubSpot - QuestionPro Integration

Employer Evaluation: What it is, Advantages + How to do it?

May 29,2023

HubSpot - QuestionPro Integration

Web experience management: What it is & Free Guide

Apr 12,2022

HubSpot - QuestionPro Integration

Understanding the Impact of DEI Initiatives on Employee Retention and Organizational Success in 2023

Feb 16,2023

BROWSE BY CATEGORY

  • Academic
  • Academic Research
  • Academic Research
  • Artificial Intelligence
  • Assessments
  • Audience
  • Brand Awareness
  • Brand Awareness
  • Branding
  • Business
  • Business
  • Case Studies
  • Communities
  • Consumer Insights
  • Consumer Insights
  • Customer effort score
  • Customer Engagement
  • Customer Experience
  • Customer Experience IN
  • Customer Loyalty
  • Customer Loyalty
  • Customer Research
  • Customer Satisfaction
  • Customer Satisfaction
  • CX
  • Decision Making
  • Employee Benefits
  • Employee Engagement
  • Employee Engagement
  • Employee Engagement
  • Employee Retention
  • Employee Retention
  • Employee Retention
  • Employee Retention
  • Enterprise
  • Events
  • Forms
  • Friday Five
  • General Data Protection Regulation
  • Guest Post
  • Insights Hub
  • Intercept
  • Life@QuestionPro
  • LivePolls
  • Market Research
  • Market Research
  • Marketing
  • Marketing
  • Marktonderzoek
  • medewerkersonderzoek
  • Mobile
  • Mobile App
  • Mobile diaries
  • Mobile Surveys
  • New Features
  • non-profit
  • NPS
  • Online Communities
  • Polls
  • Question Types
  • Questionnaire
  • QuestionPro
  • QuestionPro Products
  • QuestionPro Products
  • Release Notes
  • Research Tools and Apps
  • Revenue at Risk
  • Startups
  • Survey Templates
  • Surveys
  • Surveys
  • Tech News
  • Tips
  • Training
  • Training Tips
  • Trending
  • Uncategorized
  • Video Learning Series
  • VOC
  • Webinar
  • Webinars
  • What’s Coming Up
  • Workforce
  • Workforce
  • Workforce
  • Workforce Intelligence
  • Workforce Intelligence
  • Workforce Intelligence

Footer

MORE LIKE THIS

Find out how the Service Profit Chain increases profits by giving great customer service and keeping workers interested. Learn more.

Service Profit Chain: What it Is + Step-by-Step Guide

Jun 7, 2023

Customer experience software platforms tend to rely on a customer feedback loop based on two emotions: Delight and Rage. Let's discuss it.

Three Emotions that Really Matter in CX — Tuesday CX

Jun 6, 2023

Use Livepolls as one of the best feedback tools for teachers that empower real-time student feedback for educational transformation. Learn more.

Feedback Tools for Teachers: What They Are + Techniques

Jun 5, 2023

When it comes to research, ethics is a crucial component that guides how we conduct our studies. Learn everything about it.

Ethics in Research: Understanding its Importance + Best Practices

Jun 1, 2023

Other categories

  • Academic
  • Academic Research
  • Academic Research
  • Artificial Intelligence
  • Assessments
  • Audience
  • Brand Awareness
  • Brand Awareness
  • Branding
  • Business
  • Business
  • Case Studies
  • Communities
  • Consumer Insights
  • Consumer Insights
  • Customer effort score
  • Customer Engagement
  • Customer Experience
  • Customer Experience IN
  • Customer Loyalty
  • Customer Loyalty
  • Customer Research
  • Customer Satisfaction
  • Customer Satisfaction
  • CX
  • Decision Making
  • Employee Benefits
  • Employee Engagement
  • Employee Engagement
  • Employee Engagement
  • Employee Retention
  • Employee Retention
  • Employee Retention
  • Employee Retention
  • Enterprise
  • Events
  • Forms
  • Friday Five
  • General Data Protection Regulation
  • Guest Post
  • Insights Hub
  • Intercept
  • Life@QuestionPro
  • LivePolls
  • Market Research
  • Market Research
  • Marketing
  • Marketing
  • Marktonderzoek
  • medewerkersonderzoek
  • Mobile
  • Mobile App
  • Mobile diaries
  • Mobile Surveys
  • New Features
  • non-profit
  • NPS
  • Online Communities
  • Polls
  • Question Types
  • Questionnaire
  • QuestionPro
  • QuestionPro Products
  • QuestionPro Products
  • Release Notes
  • Research Tools and Apps
  • Revenue at Risk
  • Startups
  • Survey Templates
  • Surveys
  • Surveys
  • Tech News
  • Tips
  • Training
  • Training Tips
  • Trending
  • Uncategorized
  • Video Learning Series
  • VOC
  • Webinar
  • Webinars
  • What’s Coming Up
  • Workforce
  • Workforce
  • Workforce
  • Workforce Intelligence
  • Workforce Intelligence
  • Workforce Intelligence

questionpro-logo-nw
Help center Live Chat SIGN UP FREE
  • Sample questions
  • Sample reports
  • Survey logic
  • Branding
  • Integrations
  • Professional services
  • Security
  • Survey Software
  • Customer Experience
  • Workforce
  • Communities
  • Audience
  • Polls Explore the QuestionPro Poll Software - The World's leading Online Poll Maker & Creator. Create online polls, distribute them using email and multiple other options and start analyzing poll results.
  • Research Edition
  • LivePolls
  • InsightsHub
  • Blog
  • Articles
  • eBooks
  • Survey Templates
  • Case Studies
  • Training
  • Webinars
  • Coronavirus Resources
  • All Plans
  • Nonprofit
  • Academic
  • Qualtrics Alternative Explore the list of features that QuestionPro has compared to Qualtrics and learn how you can get more, for less.
  • SurveyMonkey Alternative
  • VisionCritical Alternative
  • Medallia Alternative
  • Likert Scale Complete Likert Scale Questions, Examples and Surveys for 5, 7 and 9 point scales. Learn everything about Likert Scale with corresponding example for each question and survey demonstrations.
  • Conjoint Analysis
  • Net Promoter Score (NPS) Learn everything about Net Promoter Score (NPS) and the Net Promoter Question. Get a clear view on the universal Net Promoter Score Formula, how to undertake Net Promoter Score Calculation followed by a simple Net Promoter Score Example.
  • Offline Surveys
  • Customer Satisfaction Surveys
  • Employee Survey Software Employee survey software & tool to create, send and analyze employee surveys. Get real-time analysis for employee satisfaction, engagement, work culture and map your employee experience from onboarding to exit!
  • Market Research Survey Software Real-time, automated and advanced market research survey software & tool to create surveys, collect data and analyze results for actionable market insights.
  • GDPR & EU Compliance
  • Employee Experience
  • Customer Journey
  • About us
  • Executive Team
  • In the news
  • Testimonials
  • Advisory Board
  • Careers
  • Brand
  • Media Kit
  • Contact Us

QuestionPro in your language

  • English
  • Español (Spanish)
  • Português (Portuguese (Brazil))
  • Nederlands (Dutch)
  • العربية (Arabic)
  • Français (French)
  • Italiano (Italian)
  • 日本語 (Japanese)
  • Türkçe (Turkish)
  • Svenska (Swedish)

Awards & certificates

  • survey-leader-asia-leader-2023
  • survey-leader-asiapacific-leader-2023
  • survey-leader-enterprise-leader-2023
  • survey-leader-europe-leader-2023
  • survey-leader-latinamerica-leader-2023
  • survey-leader-leader-2023
  • survey-leader-middleeast-leader-2023
  • survey-leader-mid-market-leader-2023
  • survey-leader-small-business-leader-2023
  • survey-leader-unitedkingdom-leader-2023
  • survey-momentumleader-leader-2023
  • bbb-acredited
The Experience Journal

Find innovative ideas about Experience Management from the experts

  • © 2022 QuestionPro Survey Software | +1 (800) 531 0228
  • Sitemap
  • Privacy Statement
  • Terms of Use