The online Market research is one of the largest industries in the internet world. The market research is considered as the best way to research the shopping nature of the consumers. By getting the opinion from the general consumers, the research organizations use the collected data to analyze the current trends. The final research report will be sent to the companies where the data will be carefully analyzed and they change their products and services according to the customer needs. Let’s see how market research influence the shopping sector.

What is market research?

The market research is the process of analyzing the customers view about products & services which include branding, quality, awareness etc.

What is the use of market research?

Large companies conduct market research to learn the reach of their product, brand awareness, issues in the products/services, usage nature, demographics etc.

How market research program works:

Now you know what is market research. In simple words, market research is the process of extracting the views about something from the targeted group of people.

The companies cannot directly connect to the targeted group of people to conduct research. This is impossible unless they have the database of the consumers. Even with the database, it is impossible to make the consumers to give their opinion wasting their time in this busy world.

So, the companies approach the online market research organizations which already have a community of members who are ready to give their opinion. Nobody would like to participate in the study more than few seconds for free. So, these members will be paid by the market research companies for participating in the study.

The problem is the company only targets a certain group of people from particular geo-location. They cannot waste their money and time by allowing all the members to participate in the survey. So, the market research company will filter the members who don’t fit the survey demographics. This process is called as screening. The screening is done automatically by detecting IP and by asking pre-survey questions.

The members who pass screening survey will be allowed to take the survey. Once completed the reward points will be added to the member’s account which can be later redeemed for cash or gift cards.

How market research influence shopping:

The research studies are conducted in various categories like travel, technology, politics, fashion, analytics etc. Among several categories, the shopping is one of the most trending. A lot of research studies are conducted to analyze the shopping trends of the customers.

Previously, I’ve participated in a survey that is conducted to research the brand value of the different products. Usually, the brand which conducts survey will add their competitors to get the accurate results. The survey was about grooming products. Among the 6 brands the Philips, Gillette, Super Max were some of the brands found in the survey. For each question, I was asked to rate the brands and answer the various questions about the products. By the end of 10 minutes survey, they paid me about two dollars.

This survey had been conducted by the Philips to know the opinion on usage, quality, reliability, cons of their grooming products like the trimmer, shaver, skin massager etc. Along with the data about their company, they have also got the opinion about the other companies like Gillette. So, now they have chances to improve their products according to the customer needs to increase their sales of their product, improve the branding and outrank the competitors.

This is how the market research influence the shopping. This is just an example. Research being conducted on a variety of topics of which few are interesting and fun. I love participating in surveys about smartphones, bikes, Airlines, travel experience, fashion, computers. You can also help the brands by taking surveys for money.

This is the technology era where everything is possible with a touch. The number of people shopping online has doubled in the past five years. And we can hope that this will create a transparent market and quality services. The market research is going to be one of the important factors in the growth of online shopping.

The post How Market Research Works And Why It Influences Shopping appeared first on Shopping Kim.