{"id":73565,"date":"2019-07-22T03:34:10","date_gmt":"2019-07-22T10:34:10","guid":{"rendered":"https:\/\/www.questionpro.com\/blog\/?p=73565"},"modified":"2023-11-16T06:51:58","modified_gmt":"2023-11-16T06:51:58","slug":"how-startups-can-use-a-survey-app-for-market-research","status":"publish","type":"post","link":"https:\/\/www.questionpro.com\/blog\/how-startups-can-use-a-survey-app-for-market-research\/","title":{"rendered":"How startups can use a survey app for market research"},"content":{"rendered":"

Good market research is one of the important factors behind the success of any organization, no matter what the size is – be it a lean startup or a large-scale enterprise. It is necessary to analyze whether the new product or idea will be accepted by the people or not. While there are a number of ways to collect feedback, online survey app<\/a> provides an easy and affordable solution. This makes it an apt choice for startups to find the probability of their success.<\/p>\n

Unless you know what your customers are looking for, it\u2019s hard to succeed in a cut-throat competitive market. A startup for market research<\/a> must be aware of its customers\u2019 choices, likes, dislikes, and tendencies to make sure that their business is in line with what they expect.<\/p>\n

How a survey app can help startups in market research<\/h2>\n
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  1. Demand forecast<\/strong><\/li>\n<\/ol>\n

    Ask questions that will explore the preferences and tap the pulse of your target audience. The survey will help you to know whether the customers are likely to buy online or offline, around which time of the year, factors influencing their decisions, how much are they likely to spend, etc. Considering most people browse the web on smartphones, a mobile survey app<\/a> can help a startup to collect data from respondents on their chosen platform.<\/p>\n

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    1. Market segmentation<\/a><\/strong><\/li>\n<\/ol>\n

      The market is divided into a number of segments based on geographical<\/a>, social and economic parameters. A survey app can help you further segment audience based on response data. For instance, you can filter responses and create a report for a particular demographic, say a combination of males under 40.<\/p>\n

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      1. Gap in current market<\/strong><\/li>\n<\/ol>\n

        Surveys can help identify gaps in the current market. Ask questions to know what are the problems they face in their daily lives while using existing products. This can throw light on the untapped market and open avenues to the new market.<\/p>\n

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        1. Competitor analysis<\/strong><\/li>\n<\/ol>\n

          If you ask a yes\/no question like \u201cAre you satisfied with your current internet service provider?\u201d, you can analyze how many people are likely to switch if they get a better option. Asking questions like \u201cWhat features would you like your current service provider to improve on?\u201d can let you know what is the customer pain point and make sure to address this gap in your product or service.<\/p>\n

          \"survey<\/p>\n

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          1. Product \/ Service design<\/strong><\/li>\n<\/ol>\n

            Once you collect data from market research, you can decide which features should be included in the phase 1 release and what can be kept for a later stage. You can also decide what features are likely to be popular among the customers and hence, it can help you plan your investment strategy.<\/p>\n

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            1. Decide business model<\/strong><\/li>\n<\/ol>\n

              Surveys can help you decide if you should go for a monthly subscription or a pay-per-use model. Based on the size of the potential market, you can decide what should be the apt pricing and how long will it take to turn profitable.<\/p>\n

              Why startups should use a survey app<\/h2>\n