Conducting market research in Singapore is the first step to knowing your consumers’ wants, needs, and dislikes. It’s how you’ll know what to improve so your product or service can continue to satisfy your consumers. But what are the different types of market research, and how can you make the most of it? Here are four of the most common types of market research.
1. Conduct online surveys.
Conducting an online survey in Singapore for your company is one of the easiest ways to get consumers’ opinions, suggestions, and feelings on the given product or service. Surveys are easy and don’t require much time to complete, so you’ll be able to get several answers for you to analyse later. To make your survey easy to read and answer, try not to ask open-ended questions. Instead, ask questions with yes/no answers, or let your questions have answers based on a scale. For example, they could agree, disagree, or have no opinion on one of the questions.
2. Check your and your competitors’ reviews.
Your reviews are your consumers’ honest thoughts, which makes them essential consumer insight. The reviews might say something about how they’ve encountered problems with your product or service, which means you can revisit these comments later when trying to improve. You can also look at your competitors’ reviews while looking at yours. What good qualities do their consumers like that you can get, and what negative traits should you avoid?
3. Conduct observational research.
Observational research is one of the best ways to get pure and unbiased consumer insight. You can either ask people if you can observe them using your service or scout your nearby areas to see if people are using them naturally. Either way, prepare your pen and paper to write down noteworthy behaviours.
4. Hire a research company in Singapore.
Gaining consumer insight may be challenging for many people, and many companies opt not to do it because of how time-consuming and daunting it is. However, knowing your consumer base is one of the best ways to improve your service or product, so doing it is required if you want your business to grow. What’s the solution? Hire a research company in Singapore. They’ll be able to bring you consumer insights from professionally conducted research.
Are you ready to bring your product or service to the next level? Milieu Insight provides high-quality market research in Singapore, so you know what your consumers love and hate. Visit Milieu Insight today and grow your business.