research questions in marketing

Root out friction in every digital experience, super-charge conversion rates, and optimize digital self-service

Uncover insights from any interaction, deliver AI-powered agent coaching, and reduce cost to serve

Increase revenue and loyalty with real-time insights and recommendations delivered to teams on the ground

Know how your people feel and empower managers to improve employee engagement, productivity, and retention

Take action in the moments that matter most along the employee journey and drive bottom line growth

Whatever they’re are saying, wherever they’re saying it, know exactly what’s going on with your people

Get faster, richer insights with qual and quant tools that make powerful market research available to everyone

Run concept tests, pricing studies, prototyping + more with fast, powerful studies designed by UX research experts

Track your brand performance 24/7 and act quickly to respond to opportunities and challenges in your market

Explore the platform powering Experience Management

• Free Account
• Product Demos
• For Digital
• For Customer Care
• For Human Resources
• For Researchers
• Financial Services
• All Industries

Popular Use Cases

• Customer Experience
• Employee Experience
• Net Promoter Score
• Voice of Customer
• Customer Success Hub
• Product Documentation
• Training & Certification
• XM Institute
• Popular Resources
• Customer Stories
• Artificial Intelligence

Market Research

• Partnerships
• Marketplace

The annual gathering of the experience leaders at the world’s iconic brands building breakthrough business results, live in Salt Lake City.

• English/AU & NZ
• Español/Europa
• Español/América Latina
• Português Brasileiro
• REQUEST DEMO
• Experience Management
• Market Research Questions

Try Qualtrics for free

Market research questions: what to ask and how.

9 min read Whether you’re looking for customer feedback, product suggestions or brand perception in the market, the right market research questions can help you get the best insights. Learn how you can use them correctly and where to begin.

What is market research?

Market research (also called marketing research) is the action or activity of gathering information about market needs and preferences. This helps companies understand their target market — how the audience feels and behaves.

For example, this could be an online questionnaire , shared by email, which has a set of questions that ask an audience about their views. For an audience of target customers, your questions may explore their reaction to a new product that can be used as feedback into the design.

Why do market research?

When you have tangible insights on the audience’s needs, you can then take steps to meet those needs and solve problems. This mitigates the risk of an experience gap – which is what your audience expects you deliver versus what you actually deliver.

In doing this work, you can gain:

• Improved purchase levels – Sales will improve if your product or service is ticking all the right buttons for your customers.
• Improved decision making – You can avoid the risk of losing capital or time by using what your research tells you and acting with insights.
• Real connection with your target market – If you’re investing in understanding your target audience, your product and service will more likely to make an impact.
• Understand new opportunities – it might be that your research indicates a new area for your product to play within, or you find potential for a new service that wasn’t considered before.

Get started with our free survey maker

Who do you ask your questions to?

Who to target in your market research is crucial to getting the right insights and data back. If you don’t have a firm idea on who your target audiences are, then here are some questions that you can ask before you begin writing your market research questions:

• Who is our customer currently and who do we want to attract in the future?
• How do they behave with your brand?
• What do they say, do and think?
• What are their pain points, needs and wants?
• Where do they live? What is the size of our market?
• Why do they use us? Why do they use other brands?

We’ve put together some questions below (Market research questions for your demographics) if you wanted to reach out to your market for this.

With the answers, you can help you segment your customer market, understand key consumer trends , create customer personas and discover the right way to target them.

Market research goals

Give yourself the right direction to work towards.There are different kinds of market research that can happen, but to choose the right market research questions, figure out your market research goals first.

Set a SMART goal that thinks about what you want to achieve and keeps you on track. SMART stands for Specific, Measurable, Attainable, Relevant and Timely. For example, a good SMART business goal would be to increase website sales for a top product by 10% over a period of 6 months.

You may need to review some strategic business information, like customer personas and historical sales data, which can give you the foundation of knowledge (the ‘baseline’) to grow from. This, combined with your business objectives, will help you form the right SMART targets tailored to your teams.

Types of market research questions

Now that you have your SMART target, you can look at which type of market research questions will help you reach your goal. They can be split into these types:

• For demographics
• For customers
• For product

Market research questions for your demographics

Demographic information about your customers is data about gender, age, ethnicity, annual income, education and marital status. It also gives key information about their shopping habits.

Here are some questions you can ask in your market research survey:

• What is your age / gender / ethnicity / marital status?
• What is the highest level of education you have achieved?
• What is your monthly income range?
• What methods of shopping do you use?
• What amount do you spend on [product/brand/shopping] each month?
• How regular do you shop for [product/brand]?

Learn more about the demographic survey questions that yield valuable insights .

Market research questions for your customer

These questions are aimed at your customer to understand the voice of the customer — the customer marketing landscape is not an one-way dialogue for engaging prospects and your customer’s feedback is needed for the development of your products or services.

• How did we do / would you rate us?
• Why did you decide to use [product or service]?
• How does that fit your needs?
• Would you recommend us to your friends?
• Would you buy from us again?
• What could we do better?
• Why did you decide to shop elsewhere?
• In your opinion, why should customers choose us?
• How would you rate our customer experience?

Learn more about why the voice of the customer matters or try running a customer experience survey.

Market research questions for your product

These questions will help you understand how your customers perceive your product, their reactions to it and whether changes need to be made in the development cycle.

• What does our [product or service] do that you like or dislike?
• What do you think about [feature or benefit]?
• How does the product help you solve your problems?
• Which of these features will be the most valuable / useful for you?
• Is our product competitive with other similar products out there? How?
• How does the product score on [cost / service / ease of use, etc.]?
• What changes will customers likely want in the future that technology can provide?

There are also a set of questions you can ask to find out if your product pricing is set at the right mark:

• Does the product value justify the price it’s marketed at?
• Is the pricing set at the right mark?
• How much would you pay for this product?
• Is this similar to what competitors are charging?
• Do you believe the price is fair?
• Do you believe the pricing is right based on the amount of usage you’d get?

Have you tried a pricing and value research survey to see how much your target customers would be willing to pay?

Market research questions for your brand

How does the impact of your products, services and experiences impact your brand’s image? You can find out using these questions:

• What do you think about our brand?
• Have you seen any reviews about us online? What do they say?
• Have you heard about our brand from friends or family? What do they say?
• How likely are you to recommend our brand to a friend?
• Have you read the testimonials on our own channels? Did they have an impact on your decision to purchase? How?
• When you think of our brand, what do you think/ feel / want?
• How did you hear about us?
• Do you feel confident you know what our brand stands for?
• Are you aware of our [channel] account?

Learn more about brand perception surveys and how to carry them out successfully.

How to use market research questions in a survey

For the best research questionnaires, tailoring your market research questions to the goal you want will help you focus the direction of the data received.

You can get started now on your own market research questionnaire, using one of our free survey templates, when you sign up to a free Qualtrics account.

Drag-and-drop interface that requires no coding is easy-to-use, and supported by our award-winning support team.

With Qualtrics, you can distribute, and analyse surveys to find customer, employee, brand, product, and marketing research insights.

More than 11,000 brands and 99 of the top 100 business schools use Qualtrics solutions because of the freedom and power it gives them.

Get started with our free survey maker tool

Related resources

Market intelligence 10 min read, marketing insights 11 min read, ethnographic research 11 min read, qualitative vs quantitative research 13 min read, qualitative research questions 11 min read, qualitative research design 12 min read, primary vs secondary research 14 min read, request demo.

Ready to learn more about Qualtrics?

68 market research questions to ask (and how to ask them)

Example market research questions, market research questions to ask customers, market research questions for product development, market research questions for brand tracking, pricing survey questions for market research, how to write your own market research questions.

No two market research projects are alike, but happily there are some tried-and-tested questions you can use for inspiration to get the consumer insights you’re looking for.

It’s all about asking questions that are most relevant to the goals of your research. Every so often the best questions are actually quite straightforward, like asking consumers where they do their grocery shopping.

If you’re creating a customer profile, you’ll ask different questions than when you’re running creative testing with your target audience, or getting insights on key consumer trends in your market.

The right market research questions are the ones that will lead you to actionable insights, and give you a competitive advantage in your target market.

Let’s kick this off and get straight into some questions, shall we?

Where do we even begin with this?! There are so many types of research and we’ll get into which questions work for each below, but here are some classic example market research questions to get you started.

These particular questions are good for surveys that you might run when you’re running some essential consumer profiling research.

• Which of these products have you purchased in the last 3 months?
• Which of the following types of >INSERT YOUR PRODUCT/SERVICE CATEGORY< do you buy at least once a month?
• Approximately, how much would you say you spend on >INSERT YOUR PRODUCT/SERVICE CATEGORY< per month?
• What is stopping you from buying more of >INSERT YOUR PRODUCT/SERVICE CATEGORY<?
• When was the last time you tried a new >INSERT YOUR PRODUCT/SERVICE CATEGORY<?
• Please rank the following on how important or unimportant they are when deciding which >INSERT PRODUCT CATEGORY< to buy?
• Which of these brands are you aware of?
• Which of these brands have you purchased from in the last 3 months?
• How do you prefer to shop for >INSERT YOUR PRODUCT/SERVICE CATEGORY<?
• Why do you prefer to shop online?
• Why do you prefer to shop in-store?
• Thinking about the following, how often do you use/listen/watch each of these media?
• Where do you go to keep up to date with the news?
• Which social media platforms do you use daily?
• What mobile phone do you currently own?

Surely you want to talk to your current customers to understand why they buy from you and what they think about your products?

Correct! But your consumer research should definitely not end with current customers!

Here’s why you should think about broadening your research to include other groups and different market research methods :

• Current customers: This is a must! Running research to your current customers will help you understand how you can make your product or service better. These are the people who’ve spent their hard-earned cash on your products so they have a unique perspective on what kind of value you offer. In addition, understanding why your existing customer base chose your brand over others can help you create messaging that resonates with people who are still on the fence.
• Previous customers: People who used to buy your products but don’t anymore can give you valuable insight into areas you might need to improve. Perhaps your brand perception has shifted making some customers buy elsewhere, or maybe your competitors offer customers better value for money than you currently do. These are the kinds of areas you can learn about by running research to previous customers.
• Non-customers: You should also ask people who haven’t bought your products why they haven’t. That way you’ll learn what you need to improve to bring new customers in. You should ideally ask the same kinds of questions, so that you can learn about what product features you need to work on but also things like the messaging you should be putting out there to win people over.

Here are some questions that are perfect for competitive market analysis research. Some of these questions might sound similar to some from our previous section on consumer profiling—that’s because there’s often some crossover between these types of research. Consumer profiling often refers to a more general type of research that covers similar ground to market analysis. If you’re wondering how to calculate market size , questions like these would be a great starting point.

• How often do you usually purchase >INSERT YOUR PRODUCT/SERVICE CATEGORY<?
• Why do you buy >INSERT YOUR PRODUCT/SERVICE CATEGORY<?
• What types of >INSERT YOUR PRODUCT/SERVICE CATEGORY< do you buy?
• How often do you buy the following types of >INSERT YOUR PRODUCT/SERVICE CATEGORY<?
• Where do you buy your >INSERT YOUR PRODUCT/SERVICE CATEGORY<?
• Where do you find out about >INSERT YOUR PRODUCT/SERVICE CATEGORY<?
• Which of these brands have your purchased in the last 12 months?
• How would you feel if you could no longer buy >INSERT YOUR PRODUCT/SERVICE CATEGORY<?
• How important or unimportant do you find the following topics? (e.g. sustainability, diversity and inclusion, ethical supply chain)
• What could be improved about the products you currently use?

By involving consumers in the product development process, you can make sure that your products are designed to meet—and ideally exceed—their needs.

Product market research can be done at several points in the product development process, by asking potential customers in your target market questions about existing products (yours or competitors’), prototypes, or just your own early-stage product ideas.

You can dive into the customer experience, specific product features or simply find out if the product quality matches the value proposition you’re putting out there.

Sometimes you even get a surprising answer to the question: how does our product or service help people?

You might learn from the survey responses that customers are using your product in a different way than you intended, opening you up to new target markets and different product types in the future.

Asking these questions also allows you to get feedback on your designs, so that you can make necessary changes before the product is released. Here’s some inspiration for when you’re conducting product market research.

There are different types of new product development research. A key type is Jobs to be done research. This research digs into the practical reasons people buy products—the jobs they need to get done with a specific product. You use these insights to help you create products that will genuinely help consumers, and that they’ll ultimately want to buy.

• How many times have you carried out [INSERT ACTIVITY] in the last 12 months?
• How much time would you typically spend on this [INSERT ACTIVITY]?
• How important or unimportant is carrying out this [INSERT ACTIVITY]?
• How satisfied or unsatisfied do you feel when carrying out this [INSERT ACTIVITY]?
• What is the best thing about carrying out [INSERT ACTIVITY]?
• How does carrying out [INSERT ACTIVITY] make you feel? Please select all that apply
• What particular problems or challenges do you run into while carrying out [INSERT ACTIVITY]?

When you’re cooking up your brand’s next product, you’ll want to go through a concept testing phase. This is where you ask consumers what they think about your idea and find out whether it’s likely to be a success. Here are some of the questions you could ask in your concept testing research.

• To what extent do you like or dislike this idea/product? [ATTACH IMAGE]
• What do you like about this idea/product?
• What do you dislike about this idea/product?
• Is easy to use
• Sounds tasty
• Is good quality
• Is Innovative
• Is different from others
• Purchase this product
• Replace the product I currently own with this
• What other products this idea/product reminds you of? Please provide as much detail as possible including the product name.
• What feature(s), if any, do you feel are missing from this product?
• How would you improve this idea/product? Be as descriptive as possible!
• What issues do you solve through the use of this product?
• When can you see yourself using this product? Please select all that apply.
• The price for this product is $25.00 per item. How likely or unlikely would you be to buy this product at this price?

Get inspired with NPD survey templates

Our in-house research experts have created New Product Development (NPD) survey templates to give you the perfect starting point for your product research!

Does the perspective of new customers change over time? How do you compare to other brands, and how do you become the preferred brand in your market and increase that market share?

Brand perception and brand awareness are super important metrics to track. These insights can be used to improve customer experience and satisfaction on a higher level than just product: the relationship you have with your customers.

This research can also help you understand how to reach the holy grail of branding: turning loyal customers into brand ambassadors.

You should also remember to ask marketing research questions about your brand to existing and potential customers.

Existing customers might have a different view after having interacted with your team and products, and you can use that to manage the expectations of your target customers down the line. And potential customers can help you understand what’s holding them back from joining your customer base.

Top tip: it’s completely fine (and super beneficial!) to run brand tracking into your competitors’ brands as well as your own. Replicating research for different brands will give you a tailored benchmark for your category and position.

Here are some key questions to ask in your brand tracking research.

• Which of the following, if any, have you purchased in the past 12 months?
• Thinking about >INSERT YOUR CATEGORY<, what brands, if any, are you aware of? Please type in all that you can think of.
• Which of these brands of facial wipes, if any, are you aware of?
• Which of these facial wipe brands, if any, have you ever purchased?
• Which of these facial wipe brands, if any, would you consider purchasing in the next 6 months?
• e.g. Innovative
• Easy to use
• Traditional
• We’d now like to ask you some specific questions about >INSERT YOUR BRAND<.
• When did you last use >INSERT YOUR BRAND<?
• What do you like most about >INSERT YOUR BRAND<?
• What do you like least about >INSERT YOUR BRAND<?
• How likely would you be to recommend >INSERT YOUR BRAND< to a friend, family or colleague?
• Why did you give that score? Include as much detail as possible
• In newspapers/magazines
• On Instagram
• On Facebook
• On the radio
• Through friends/family/colleagues
• When did you last use >INSERT MAIN COMPETITOR BRAND<?
• How likely would you be to recommend >INSERT MAIN COMPETITOR BRAND< to a friend, family or colleague?

Kick off your brand tracking with templates

Track your brand to spot—and act on!—how your brand’s perception and awareness affects how people buy. Our survey templates give you the ideal starting point!

When it comes to pricing your product, there’s no need to wing it—a pricing survey can give you the insights you need to arrive at the perfect price point.

By asking customers questions about their willingness to pay for your product, you can get a realistic sense of what price point will be most attractive to them and, not unimportant, why.

Top tip: good pricing research can be tough to get right. Asking how much people would theoretically be willing to pay for a product is very different from them actually choosing it in a shop, on a shelf next to competitors’ products, and with a whole load of other economic context that you can’t possibly test for. Price testing is useful, but should sometimes be taken with a pinch of salt.

Here are some questions you could use in your pricing research.

• Which of the following product categories have you bought in the last 12 months?
• How often do you currently purchase >INSERT YOUR CATEGORY<?
• At what price would you consider this >INSERT PRODUCT CATEGORY< to be so expensive that you would not consider buying it? (Too expensive)
• At what price would you consider this >INSERT PRODUCT CATEGORY< to be starting to get expensive, so that it is not out of the question, but you have to give some thought to buying it? (e.g. Expensive)
• At what price would you consider this >INSERT PRODUCT CATEGORY< to be a bargain—a great buy for the money? (e.g. cheap)
• At what price would you consider this >INSERT PRODUCT CATEGORY< to be priced so low that you would feel the quality couldn’t be very good? (Too cheap)
• How much do you currently pay for >INSERT PRODUCT CATEGORY<? Please type in below
• Thinking about this product, please rank the following aspects based on how much value they add, where 1 = adds the most value 10 = adds the least value.
• Thinking about the product category as a whole, please rank the following brands in order of value, where 1 is the most expensive and 10 is the least.

Formulating market research questions can be tricky. On the one hand, you want to be specific enough that you can get tangible, useful answers. But on the other hand, you don’t want to ask questions that are so difficult or unclear that respondents will get frustrated and give up halfway through.

Think about what answers you need and what actions you are hoping to take based on those answers.

We’ll help you get started with a list of steps to take when formulating your own market research questions, and putting them together in a survey that makes sense.

1. Define your research goals and link them to actions you can take

Before you can write great market research questions, you need to know what you want to learn from your research.

What are your goals? What do you want to find out? Once you have a clear understanding of your goals, you can start brainstorming questions that will help you achieve them.

2. Know your target market and the language they use

Who are you conducting market research for? It’s important to know your audience before you start writing questions, as this will help you determine the best way to phrase them.

For example, if you’re conducting market research for a new product aimed at teenagers, you’ll want to use different language than if you were conducting research for a new financial planning service aimed at retirees.

3. Keep it simple, and break things into smaller pieces

Don’t make your questions too complicated. Stick to simple, straightforward questions that can be easily understood by your target audience.

The more complex your questions are, the more likely it is that respondents will get confused and provide inaccurate answers.

If you feel a question is too difficult, see if you can break it up into smaller pieces and add follow-up questions on top.

And don’t ever load two questions into one! This falls into Consumer Research 101, but it’s amazing how often it happens. Instead of ‘What’s your favorite chocolate bar, and why?’ ask two questions: ‘What’s your favorite chocolate bar?’ and ‘Why is this your favorite chocolate bar?’

4. Be super specific

Make sure your questions are specific enough to get the information you need. Vague questions will only lead to vague answers.

For example, instead of asking ‘What do you think of this product?’, ask ‘What did you think of the taste of this product?’ or ‘What did you think of the packaging of this product?’.

5. Avoid leading questions

Leading questions are those that suggest a particular answer or course of action. For example, instead of asking ‘Do you like our new product?’, which suggests that the respondent should like the product, try asking ‘What are your thoughts on this product?

This question is neutral and allows the respondent to answer freely without feeling pressured in any particular direction. It’s also brand-neutral: people answering this question will have no idea who’s asking, and their opinion won’t be biased as a result.

6. Make sure your question is clear

It’s important that your question is clear and concise so that respondents understand exactly what they’re being asked. If there is any ambiguity in your question, respondents may interpret it in different ways and provide inaccurate answers.

Always test your questions on a few people before sending them to a larger group to make sure they understand what they’re being asked.

7. Avoid loaded words

Loaded words are those with positive or negative connotations that could influence the way respondents answer the question. For example, instead of asking ‘Do you love this product?’, which has a positive connotation, try asking ‘What are your thoughts on this product?’

This question is neutral and allows the respondent to answer freely without feeling pressured in any particular direction

8. Make sure the question is answerable

Before you include a question in your market research survey, make sure it’s actually answerable. There’s no point in asking a question if there’s no way for respondents to answer it properly. If a question isn’t answerable, either revise the question or remove it from your survey altogether.

9. Use an appropriate question type

When designing your market research survey, be sure to use an appropriate question type for each question you include. Using the wrong question type can lead to inaccurate or unusable results, so it’s important to choose wisely. Some common question types used in market research surveys include multiple choice, rating scale, and open-ended questions.

10. Pay attention to question order

The order of the questions in your survey can also impact the results you get from your research. In general, it’s best to start with more general questions and then move on to more specific ones later on in the survey. This will help ensure that respondents are properly warmed up and able to provide detailed answers by the time they reach the end of the survey.

Make smart decisions with the reliable insights

To make sure you make smart decisions that have real impact on your business, get consumer insights you can rely on. Here’s our rundown of the top market research tools.

Survey questions for market research are designed to collect information about a target market or audience. They can be used to gather data about consumer preferences, opinions, and behavior. Some common types of market research survey questions include demographic questions, behavioral questions and attitudinal questions.

There are many different types of market research questions that companies can use to gather information about consumer preferences and buying habits. They can be divided into different categories, like a competitive analysis, customer satisfaction or market trends, after which you can make them more specific and turn them into survey questions. These are some of the things your research questions can help you answer: – What is the target market for our product? – Who is our competition? – What do consumers think of our product? – How often do consumers purchase our product? – What is the typical customer profile for our product? – What motivates consumers to purchase our product?

When conducting market research, surveys are an invaluable tool for gathering insights about your target audience. But how do you write a market research questionnaire that will get you the information you need? First, determine the purpose of your survey and who your target respondents are. This will help you to write questions that are relevant and targeted. Next, craft clear and concise questions that can be easily understood. Be sure to avoid ambiguity, leading questions and loaded language. Finally, pilot your survey with a small group of people to make sure that it is effective. With these tips in mind, you can write a market research survey that will help you to gather the crucial insights you need.

Elliot Barnard

Customer Research Lead 

Elliot joined Attest in 2019 and has dedicated his career to working with brands carrying out market research. At Attest Elliot takes a leading role in the Customer Research Team, to support customers as they uncover insights and new areas for growth.

Related articles

5 beverage branding ideas (with examples you can learn from), survey vs questionnaire: what’s the difference and which should you use, what does inflation mean for brands, consumer profiling, subscribe to our newsletter.

Fill in your email and we’ll drop fresh insights and events info into your inbox each week.

* I agree to receive communications from Attest. Privacy Policy .

You're now subscribed to our mailing list to receive exciting news, reports, and other updates!

• (855) 776-7763

All Products

BIGContacts CRM

Survey Maker

ProProfs.com

• Get Started Free

FREE. All Features. FOREVER!

Try our Forever FREE account with all premium features!

100+ Market Research Questions to Ask Your Customers

Author & Editor at ProProfs

Shivani Dubey specializes in crafting engaging narratives and exploring Customer Experience Management intricacies. She writes on vital topics like customer feedback, emerging UX and CX trends, and sentiment analysis.

Asking the right market research questions can help you understand your target customers and map their behavior and preferences. 

But what does it actually mean?

Let’s look at a sample from a market research survey report for mapping brand awareness:

From this simple Q&A report, you can:

• Visualize the proportions of demographic segments among your audience.
• Measure how your brand is performing in comparison to others.
• Pick the top preferred brand among the customers, explore what makes it stand out, and apply the same techniques to your brand.
• See how your target market perceives brand advertisements and promotional efforts.

Now imagine if this type of data set is available for different aspects of your business – product development, marketing campaigns, optimization plans, and more.

That’s what market research does for you.

With the evolution of customer interaction points and constantly changing market trends, more and more businesses are fueling efforts to do in-depth market research, as evidenced by the steady increase in the revenue of the market research industry worldwide.

Market research can help you develop essential business strategies and maintain a competitive advantage over other brands to increase conversions and customer base.

And it all starts with asking the right questions to the right audience.

That’s why we have created this collection of 100+ market research questions to ask your target market. Each question aims to uncover a specific attribute about your customers. You can use a combination of these customer research survey questions, interviews, and othe marketing questionnaires for customers.

We have also added key tips to help you write your own effective market analysis questions if the needed.

100+ Great Market Research Questions to Ask Your Customers

The main challenge while designing and conducting research is – “What questions should I ask in my customer research survey?

That’s why we have a carefully curated list of market research questions to help you get started.

To Explore New Product Opportunities

• What was your first reaction to the product?
• Would you purchase this product if it were available today?
• What feature would you like to see on the website/product?
• Which feature do you think will help improve the product experience for you?
• Of these four options, what’s the next thing you think we should build?
• What’s the one feature we can add that would make our product indispensable for you?
• Would implementing [this feature] increase the usability of the [product name]?
• Please let us know how we can further  improve this feature.
• What problem would you like to solve with our product?

To Collect Feedback on Existing Products

• Have you heard of [product name or category] before?
• How would you feel if [product name] was no longer available?
• How disappointed would you be if you could no longer use [Product/feature name?]
• How often do you use [product name]?
• How long have you been using [product name] for?
• When was the last time you used [product name]?
• Please rate the following product features according to their importance to you.
• According to you, In which area is this product/service lacking the most? Specify below.
• How does the product run after the update?
• Rate our product based on the following aspects:
• Have you faced any problems with the product? Specify below.
• What feature did you expect but not find?
• How are you planning to use [product or service]?
• How satisfied are you with the product?

To Segment the Target Market

Please specify your age.

• Please specify your gender.
• Select your highest level of education.
• What is your current occupation?
• What is your monthly household income?
• What is your current marital status?

• What is the name of your company?
• Where is your company’s headquarters located?
• Please specify the number of employees that work in your company.
• What is your job title?
• In which location do you work?
• Which activity do you prefer in your free time?
• Which other physical activities do you take part in?
• Where is your dream holiday destination?
• Please rate the following as per their priority in your life – Family, work, and social life?
• Are you happy with your current work-life balance?
• Do you describe yourself as an optimist or a pessimist?
• How often do you give to charity?
• How do you travel to work?
• How do you do your Holiday shopping?

To Conduct a Competition Analysis

• Which product/service would you consider as an alternative to ours?
• Rate our competitor based on the following:
• Have you seen any website/product/app with a similar feature?
• How would you compare our products to our competitors? 
• Why did you choose to use our [product] over other options?
• Compared to our competitors, is our product quality better, worse, or about the same?
• Which other options did you consider before choosing [product name]?
• Please list the top three things that persuaded you to use us rather than a competitor.
• According to you, which brand best fits each of the following traits.

To Gauge Brand Awareness

• [Your brand name] Have you heard of the brand before?
• How do you feel about this brand?
• How did you hear about us?
• Describe [brand name] in one sentence.
• If yes, please tell us what you like the most about [your brand name]?
• If no, please specify the reason.
• How likely are you to purchase a product from this company again?
• If yes, where have you seen or heard about our brand recently? (Select all that apply)
• Do you currently use the product of this brand?
• Have you purchased from this brand before?
• Of all the brands offering similar products, which do you feel is the best brand?
• Please specify what makes it the best brand for you in the category.
• Which of the following products have you tried? (Select all that apply)
• On a scale of 1 to 10, how likely would you recommend this brand to a friend or colleague?

To Map Customers’ Preferences

• Have you ever boycotted a brand? If so, which brand and why?
• What influences your purchase decision more – price or quality of the item?
• How many hours do you spend on social media like Facebook, Instagram, etc.?
• How do you do your monthly grocery shopping – online or through outlets?
• How do you search for the products you want to buy?
• Rate the factors that affect your buying decision for [product].
• What persuaded you to purchase from us?
• How likely are you to purchase a product from us again?
• Please rate the following aspects of our product based on their importance to you.
• What is the most important value our product offers to you?
• Which of the following features do you use least?
• How well does the product meet your needs?

To Map Customers’ Reservations

• Is there anything preventing you from purchasing at this point?
• What’s preventing you from starting a trial?
• Do you have any questions before you complete your purchase?
• What is the main reason you’re canceling your account?
• What are your main reasons for leaving?
• What was your biggest fear or concern about purchasing from us?
• What is the problem that the product/service helped to solve for you?
• What problems did you encounter while using our [product]?
• How easy did we make it to solve your problem?
• What is your greatest concern about [product]?
• Have you started using other similar products? If yes, what made you choose that product?

To Perform Pricing Analysis

• Would you purchase the product at [price]
• According to you, what should be the ideal price of the [product name]?
• Is our product pricing clear?
• According to you, what is the ideal price range for the product?

To Collect Feedback on Website Copy

• Please rate the website based on the following aspects:
• How well does the website meet your needs?
• Was the information easy to find?
• Was the information clearly presented?
• What other information should we provide on our website?
• How can we make the site easier to use?
• What could we do to make this site more useful?
• Is there anything on this site that doesn’t work the way you expected it to?
• How easy was it to find the information you were looking for?
• Have feedback or an idea? Leave it here!
• Help us make the product better. Please leave your feedback.

To Assess Website/Product Usability

• Are you satisfied with the website layout?
• What features do you think are missing on our website?
• What features do you not like on our website?
• Was our website navigation simple and user-friendly?
• How much time did it take to find what you were looking for on our website?
• Was it easy to find the products you are looking for?
• Was the payment process convenient?

To Uncover Market Trends and Industry Insights

• Did you purchase our product out of peer influence or individual preference?
• How do you form your opinion about our product?
• Do you follow trends of the product, or do you prefer to go with what you know?
• Do discounts or incentives impact your decision-making process?

Market Research Survey Templates

One of the easiest ways to conduct market research is to use survey templates. They can help you save time and effort in creating your own market research surveys.

There are many types of market research survey templates available, depending on your objectives and target audience. Some of the most popular ones are:

• Demographic Templates: These templates help you segment your customers based on their location. It can help you tailor your marketing strategies and offers to different customer groups.

• Consumer Behavior Templates: These templates help you keep your pulse on your target market.

Industry Insights Templates: These templates help you get detailed information about your target industry and business.

Case Study:

Check out how AWA Digital increased revenue per customer for Avis by understanding the market and promoting add-on products.

Read Full Story Here

Breakdown of Different Market Research Questions

The answer choices in a market research survey question can significantly impact the quality and reliability of the response data you collect from the audience.

Some answer types help categorize the audience, while others measure their satisfaction or agreement. 

So, before listing the customer research survey questions to ask your target audience, let’s understand their types:

Multiple Choice

A multiple-choice question type lets users select more than one answer from the given options. These questions are great for collecting multiple data sets using the same question and gauging people’s preferences, opinions, and suggestions .

Single Choice

In a single-choice question, the respondent can select only one answer from the given options. This question type is great for:

• Segregating the users.
• Prioritizing product updates based on user consensus.
• Disqualifying irrelevant respondents by placing the question at the start of your customer research survey.

Matrix Match

A matrix matching grid can combine multiple market research questions into one to make the survey shorter . There is only one condition – the individual questions should have the same response anchors as shown in the image below:

The questions are arranged in rows while the answer options occupy the grid columns.

Ranking Question

A ranking question can help map customers’ preferences and set priorities for product development . This question type asks the respondent to arrange the given options in their decreasing/increasing preference.

Dichotomous

A dichotomous question poses a simple yes or no scenario to the respondent. These question types can help disqualify irrelevant people from the survey and categorize the users into two groups .

Likert Scale

Likert scale market research questions can help you measure the extent of respondents’ agreement/disagreement with the given statement . The answer options are arranged from positive to negative sentiments or vice-versa, with the neutral option in the middle.

There are two types of Likert scales: 5-point and 7-point .

Open-ended market questions let you explore the respondents’ minds without adding any restrictions to the answer . This question type is followed by a blank space for the respondent to add a free-text response.

You can add an open-ended question as a follow-up after the first question to explore the reasons for the customer’s previous answer. It also lets you collect more in-depth information about their issues, pain points, and delights.

Tools like Qualaroo offer tons of different question types for your surveys. Just pick the question and match its answer option type from the drop-down. To make it more effective, you can add branching to the survey.

How to Write Your Marketing Research Questions

It’s imperative to have a dedicated repository of market research questions for your surveys. But nothing’s better than crafting your questions.

For this, you need to sit with your team and discuss what information you require from the customers. It lets you analyze and document how much data you already have in your system, which can help set the market research scope.

We have listed some questions you need to ask yourself before asking market research questions to your potential customers or target market:

Audience Segmentation Questions

Audience segmentation questions help to size up your target market and provide a granular view of the audience . Not all customers are equal, and audience segmentation makes it possible to focus on each group individually to address their issues, fears, and expectations.

Here’s what you need to know before you start writing customer research survey questions to understand your audience:

• Do we understand the demographics of the new market we are trying to target? (Age, location, ethnicity, education, company, annual income, etc.)
• What are the locations that drive the most customers to our business? How are these locations different from others?
• What are the interests, preferences, and fears of people from our new target market? Have we addressed these situations for our current customer base?
• What are the psychographics attributes of the current customers and potential market? Are we targeting these in our campaigns?
• What are the most popular engagement channels for our customers? Which channels drive the most traffic to our website?
• Do we have enough data to perform value segmentation to separate high-value customers from low-value customers? 
• How often do these high-value customers make a purchase?

Product-Based Market Research Questions

Product-based market research questions can produce precious insights to channel into your product development and optimization strategies . You can see how changing technology affects customers’ behavior, what new features they want to see in your product, and how they perceive your products and services over the competition.

Start by gathering information about the following:

• How does our product compare to the competition based on the features?
• What products do our competitors offer?
• What new features do customers want to see in our products? Do we have a product roadmap to deliver these updates?
• What unique solutions do our products offer? What is the value proposition that reflects this offering?
• Does our product incorporate the latest technological advancements?
• What channels do we use to collect product feedback from our users?
• What are customers’ preferences while choosing our products over competitors?

Pricing Market Research Questions

Pricing analysis can help you make your product more affordable to different customer segments while maintaining the desired gross margin. It also lets you restructure the pricing tiers to provide features depending on the customers’ requirements and company size .

Watch: (1/5) Supercharge Your Revenue With Data-Driven Pricing

Your sales and marketing team can help you hone in on the market research questions to ask your customers for running pricing analysis:

• Do the customers ever complain about the difficulty in finding the pricing information?
• What is the pricing structure of our competitors for the same products? What features do they include for a specific price?
• How do customers find our pricing when compared to the competitors?
• Do our products provide value for money to the customers? Does the sales pitch reflect this point?
• Can we restructure the pricing, and how will it affect the revenue?
• Are there any customer segments that have high-value potential but find the current pricing unaffordable? What are the plans for such customers?
• Are we in a situation to offer a basic free plan to encourage customers to try our product before upgrading?
• What promotions can we run to attract more customers?
• Should we target customers based on income, company size, or type of solution to set our product prices?

Brand Reputation Market Research Questions

A brand reputation questionnaire for marketing research gives you information on how well your target market knows about your brand. You can uncover previously unidentified channels to increase brand awareness and find potential customers to promote your brand .

Start by gauging what customers are saying about your brand:

• Which channels receive mentions of our brand? Are these posts positive or negative?
• Do we have a system in place to analyze and monitor these reviews and posts?
• What are the reviews of our brand on different sites? What is the overall impression of our brand in the market?
• How are we currently addressing the negative reviews and complaints? What do our customers think about the handling process?
• What is the impression of our brand in our target market?
• What brand awareness campaigns are our competitors running?
• Is our brand among the top choices of our target customers?

Advertisement & Campaign-Based Questions

These customer research survey questions let you assess the effectiveness of your current value propositions and campaigns . You can channel the customer insights into your advertising strategies to design targeted campaigns for different customer segments to reduce the overall acquisition cost and increase conversions.

Ask the following questions to collect information about the different marketing campaigns that are performing:

• What are the best modes to run the advertisement campaigns to reach our target audience?
• What is the estimated lifetime value of customers acquired from current campaigns? Is it higher or lower than the acquisition costs?
• Which campaigns bring the most ROI and why?
• How well do our advertisements present our value proposition to the customers? Do they address customers’ fears and expectations to attract them?
• Are we running A/B tests to improve our online campaigns? How are we gathering data to build the A/B test hypotheses – surveys, heatmaps, eye tracking, etc.?
• What advertisement campaigns do our competitors run?

7 Question Types to Use in Market Research Surveys

We mentioned earlier that market research questions provide important data for different operations like product development, marketing campaigns, sales pipeline and more.

But to what extent?

Let’s break it down to individual processes and understand how insights from customer research surveys can impact them:

To Know Your Target Market

Understanding your target audience is the fundamental aspect of market research, be it a new target market or existing customers. If you know what marketing research survey questions to ask your target market, you can identify different customer types’ unique traits and preferences.

The data can help you segment the users based on demographic, psychographic, geographic, and other attributes. These include their behavior, purchase preferences, age, location, habits, delights, frustrations, and more.

You can then create various customer personas and fuel your sales strategies to maximize ROI.

Case study – How Avis increased its revenue per customer

Avis, a leading car rental company, was looking to enhance customer experience by offering useful car add-ons like navigation systems, child seats, insurance, etc., to customers with their booking. So, it reached out to AWA Digital to find a way to promote these products and increase their sales.

AWA digital implemented customer research campaigns using targeted surveys to determine which add-ons were popular among the customers and why. 

Using these insights, the team added an interstitial pop-up just before the booking page to show relevant add-ons to the customers.

This simple update dramatically increased the sales of add-on items and helped Avis generate more revenue per customer.

Read the entire case study here .

To Plan the Product Roadmap

A product roadmap is a visual representation of the current status of your product and planned updates over time. It shows a high-level summary of planned activities and priorities for different teams to take the product to the next level. Understanding different types of summary can help you create more effective and concise roadmaps that clearly communicate your vision and strategy.

Steve Jobs famously said – “You’ve got to start with the customer experience and work backward to the technology. You can’t start with the technology then try to figure out where to sell it.”

And market research helps to align your product strategies with the customer demand. Using targeted marketing survey questions, you can gauge what new features or functionality customers want to see in your products.

It helps to plan product development strategies based on customers’ consensus to prioritize the ideas that can have the most impact on customers and replace intuition-based approaches with data-backed decisions.

Customers’ demands change with market trends and technological advancements. That’s why your product map also needs to evolve constantly with time to reflect these changes in your product development cycle.

By designing targeted market research questions to ask the customers, you can uncover their expectations to deliver optimal product solutions. 

That’s what our next case study demonstrates.

Case study – How customer research drives Twilio’s operations  

Twilio, a cloud communications platform places customer discovery and research at the core of their product development strategies. It helps its teams to anticipate customer needs in a constantly changing market.

Lack of time and budget are the two biggest challenges that the company faces in its product development cycle. So, the team uses targeted market research questionnaires for a product to understand the challenges the customers face today and the ones they will face tomorrow. 

With an abundance of ideas and no time to test them all, the feedback data from surveys is used to prioritize the hypotheses to run the tests. It makes the process more efficient and effective in producing positive results. 

This data-backed approach is used across 18 different teams at Twilio to release new functionality every week and deliver optimal solutions to the clients.

Read the complete case study here .

To Reduce Acquisition Costs

Your customer base consists of multiple customer segments with different preferences and purchase potential. That’s why you cannot sell to everyone and need to find the right audience for your products.

If an acquired customer doesn’t bring in more revenue than it costs to acquire them, it will increase your acquisition costs over time.

We don’t want that, do we?

For example, let’s say you are targeting the entire market population using the same campaign. If your acquisition cost per customer is $300 and you acquire 20 customers from one campaign, you need to make more than $6000 to register profits.

The difficulty is you don’t know about these customers’ purchase behavior and capacity, so you cannot be sure if you will reach your goals. It adds unnecessary risks to your marketing ventures.

But, if you were targeting a specific segment with high income, regular shopping habits, or proven history of brand loyalty, You can obtain better results.

Now, the question is – 

How will you separate these potential long-term customers from one-time buyers and high-value targets from other segments?

One way to do this is by building customer personas using the data from the market research survey questions. A buyer persona defines different attributes of a particular customer segment so you can hone in on the right audience to funnel your marketing efforts.

Here’s what a typical persona includes:

• Target regions
• Target demographic (age, marital status, gender)
• Ideal psychographics (hobbies, social channels, activities they indulge in, goals)
• Preferred interaction channels
• Favorite brands and products
• Total revenue till date
• Estimated lifetime value

Once you have a clearer picture of different customers, you can find high-value prospects with the potential to be long-term customers looking for product solutions that your business offers. 

You can then design the correct pitch using the market research data to bring in these customers and control the overall acquisition costs.

For example:

• Plugin the demographic and psychographic data into CRM software like BIGContacts or Salesforce to convert high-value targets.
• Use your CRM to create segmented lists of prospects based on estimated value, location, current status, and more. Then target these groups individually with personalized value propositions to increase conversion rates.
• Identify their preferred mode of communication and technographic inclinations to find the right opportunities to pitch your product offering at the precise moment.

Even if acquiring and retaining such customers costs more, their overall revenue can balance the acquisition costs to deliver higher profits.

To Design Targeted Marketing Campaigns

By knowing how your target audience behaves and interacts with your business, you can find the exact opportunities to target them with personalized campaigns.

• You can use mail campaigns to target website users with app-exclusive offers to encourage them to download your app and improve app adoption.
• Add in-app broadcast messages about upcoming offers, exclusive membership benefits, and other incentives for new users to push them towards the end of the funnel.
• Create multiple landing pages to target different customer types.
• Design location-based ad campaigns with personalized value propositions based on audience preferences and problems at each location. 

Case Study – How Canon’s campaigns generated 700% ROI

AWA digital was tasked by Canon, one of the biggest electronics companies worldwide, to assess and increase the demand for their products in different geographies. So, the AWA team conducted customer research using target market survey questions and discovered the following attributes about customers’ purchase behavior and reservations:

• In some regions, people were reluctant to spend money on a Canon camera as they weren’t sure if Canon was an authoritative brand.
• In other regions, authority was not as important to the users.

Using these insights, AWA optimized the ads campaigns’ messaging for different locations to include what consumers deemed important purchase factors.

The results?

With in-depth customer feedback, Canon generated an overall ROI of 700% in all regions using personalized campaigns to target the audience.

To Improve Brand Awareness

Whether you are into soft drinks or not, You probably would have heard of Coca-Cola’s 2011 Share-A-Coke ad. This single campaign put the Coke brand back on the map and reversed the 10-year steady decline in sales in the US.  

Coke understood what motivates their customers and delivered a product offering that appealed to the masses to increase its brand equity- the excitement to get a Coca-Cola bottle with their name on it.

How did they do it?

In 2011, Coca-Cola rolled out its share-a-coke campaign in Australia. The company debranded the traditional Coke logo from the bottle and replaced it with the phrase “Share a Coke with” followed by a name.

The campaign used the list of the country’s most popular names (nicknames). The purpose was to make people go out and find the Coke bottle with their name on it and share it with their friends. The campaign was subsequently rolled out in 80 countries.

How did it impact Coca-Cola as a brand:

• In Australia, it’s estimated that the campaign increased Coke’s share by 4% and increased consumption among young adults by 7%.
• #ShareACoke became the top trending hashtag on Twitter globally and received over 1 billion impressions.
• In the USA, the campaign increased Coke’s market share by over 2% and brought 11% more sales compared to the previous year.

It’s not limited to big brands only.  

Understanding the customers and placing your product’s value offering along with their habits, lifestyle, and behavior can help you extend your brand’s reach.

Today, there are multiple touchpoints to connect with your customers and map their journey to uncover their issues, motivations, and fears to address in your campaigns.

• Monitor brand mentions on social media and engage with the users to cultivate an online community and promote your brand.
• Reach out to satisfied customers and turn them into your brand ambassadors.
• Use targeted ad campaigns that connect people’s emotions and general behavior to imprint your brand’s image in their minds.

Quick Tips for Writing Awesome Market Research Survey Questions

With the inter-team research complete, you are ready to write your own market research questions to ask your target audience. Keep these general dos and don’ts in mind to ensure that the market survey fulfills the purpose without affecting the data quality or response rate.

Use Mutually Exclusive Response Options

If you are using response anchors with specific ranges like age group or income, check that the options do not overlap . Otherwise, it will produce an irregular data set.

Please specify your age:

In the above example, the respondent lying on either extremity of the given age ranges may get confused on which option to choose. For example, a 28-year-old respondent can choose from both second or third options.

Plus, two different respondents of the same age may select different options, which will skew your demographic data.

You can avoid this confusion by creating mutually exclusive groups as shown below:

Always Add A “Not Applicable” Or “Rather Not Say” Option

Since market research questions extract personal information, some respondents may not want to share such details with you. These include questions about age, income, gender, hobbies, social activities, and more.

Forcing such questions on the customers without allowing them to skip can irate them and lead to survey abandonment .

That’s why you can also use Qualaroo’s skip and branching logic to create smart surveys that only ask relevant questions to your respondents based on their previous answers.

Calculate the Required Sample Size

Sample size plays a vital role in your market research questions to determine the reliability of your response data.

If the response volume is low, the results may not be conclusive to point towards customers’ consensus. On the other hand, a larger sample size than required means a waste of the company’s valuable resources and time.

That’s why it’s important to calculate the required sample size to estimate the number of responses you need for your market research survey questions.

You can use any survey sample size calculator available online to get started. Just fill in the required details to get the required sample size.

For example, to reach a statistical significance of 99%, you need at least 3145 responses to your market research questionnaire.

Consider Adding Incentives

Studies show that incentivized customer research surveys or questionnaires fetch higher response rates than general surveys.

The incentives encourage customers to invest their time in a survey and get something in return.

It means creating a gated questionnaire for market research can help you reach the required sample size quickly . The incentive can be a simple discount code, free shipping coupon, free ebook, or other freebies.

However, there is a possibility that irrelevant respondents may fill out the survey randomly just to get to the offer, which may skew the results. You can use screening questions to filter out unsuitable respondents.

Avoid Double-Barreled Market Research Questions

A double-barreled question poses two questions into one. The problem with such questions is that the respondent may have opposing views about the two statements in the questions. It makes it harder for them to choose one answer from the options .

“Please rate the [product name] on a scale of 1-10 based on overall quality and price?”

Here, the respondent may find the product quality appreciable while thinking it to be overpriced at the same time. In such a case, they may skip the question or select any option randomly.

You can easily sidestep this hurdle by breaking your double-barreled market research question into two to make it less confusing for the respondents.

Importance of Market Research

We mentioned earlier that market research questions provide important data for different operations like product development, marketing campaigns, sales pipeline, and more.

Understanding your target audience is the fundamental aspect of market research, be it a new target market or existing customers. If you know what customer research survey questions to ask your target market, you can identify different customer types’ unique traits and preferences.

AWA Digital implemented research campaigns using targeted customer research surveys to determine which add-ons were popular among the customers and why.

Case study – How customer research drives Twilio’s operations

Twilio, a cloud communications platform, places customer discovery and research at the core of its product development strategies. It helps its teams to anticipate customer needs in a constantly changing market.

Lack of time and budget are the two biggest challenges that the company faces in its product development cycle. So, the team uses targeted market research questionnaires for a product to understand the challenges the customers face today and the ones they will face tomorrow.

With an abundance of ideas and no time to test them all, the feedback data from customer research surveys is used to prioritize the hypotheses to run the tests. It makes the process more efficient and effective in producing positive results.

AWA Digital was tasked by Canon, one of the biggest electronics companies worldwide, to assess and increase the demand for their products in different geographies. So, the AWA team conducted a customer research survey using target market questions and discovered the following attributes about customers’ purchase behavior and reservations:

• In other regions, authority was not so important to the users.

Whether you are into soft drinks or not, you probably would have heard of Coca-Cola’s 2011 Share-A-Coke ad. This single campaign put the Coke brand back on the map and reversed the 10-year steady decline in sales in the US.  

Coke understood what motivates its customers and delivered a product offering that appealed to the masses to increase its brand equity- the excitement to get a Coca-Cola bottle with its name on it.

• In Australia, it’s estimated that the campaign increased Coke’s share by 4% and consumption among young adults by 7%.

It’s not limited to big brands only. 

Market Research: A Key to Your Business’ Success

Market research is a vital process for any business wanting to understand its customers and market better. By asking the right questions and using the right tools like Qualaroo, you can gain valuable insights that can help you improve your products or services, enhance your customer experiences, and grow your business.

In this blog, we have shared some of the best market research questions to ask your customers, as well as some of the best customer research survey templates to find market trends and industry insights. We hope that this blog has helped you learn more about market research and how to conduct it effectively.

About the author

Shivani dubey.

Shivani has more than 3 years of experience in the modern creative content paradigm and technical writing verticals. She has been published in The Boss Magazine, Reseller Club, and HR Technologist. She is passionate about Artificial Intelligence and has a deep understanding of how organizations can leverage customer support technologies for maximum success. In her free time, she enjoys Nail art, playing with her guinea pigs, and chilling with a bowl of cheese fries.

Small Business Trends

132 market research questions to ask.

Another market research example involves creating clear pictures of your ideal customers — called customer personas –for precise targeting. Other market research examples involve gathering feedback from existing customers to measure customer satisfaction.

Types of Market Research Questions

Market Research Questions

Questions to ask customers.

Use the following as survey questions, either post sale or as post-support surveys. Or use these market research questions to conduct a focus group, interview individual customers, or engage potential customers during the sales process.

Pricing and Value

Doing research may also require you to gather information internally. For example, meet with Sales to discuss feedback they receive from possible customers.

Product or Service Questions

Online visibility questions, reputation management.

A big part of market research today is to find out what customers think and say about your business (and also about your competitors). You want answers to the following market research questions:

Messaging and Advertising

Market Research: A How-To Guide and Template

Discover the different types of market research, how to conduct your own market research, and use a free template to help you along the way.

MARKET RESEARCH KIT

5 Research and Planning Templates + a Free Guide on How to Use Them in Your Market Research

Updated: 02/21/24

Published: 02/21/24

Today's consumers have a lot of power. As a business, you must have a deep understanding of who your buyers are and what influences their purchase decisions.

Enter: Market Research.

Whether you're new to market research or not, I created this guide to help you conduct a thorough study of your market, target audience, competition, and more. Let’s dive in.

Table of Contents

What is market research?

Primary vs. secondary research, types of market research, how to do market research, market research report template, market research examples.

Market research is the process of gathering information about your target market and customers to verify the success of a new product, help your team iterate on an existing product, or understand brand perception to ensure your team is effectively communicating your company's value effectively.

Market research can answer various questions about the state of an industry. But if you ask me, it's hardly a crystal ball that marketers can rely on for insights on their customers.

Market researchers investigate several areas of the market, and it can take weeks or even months to paint an accurate picture of the business landscape.

However, researching just one of those areas can make you more intuitive to who your buyers are and how to deliver value that no other business is offering them right now.

How? Consider these two things:

• Your competitors also have experienced individuals in the industry and a customer base. It‘s very possible that your immediate resources are, in many ways, equal to those of your competition’s immediate resources. Seeking a larger sample size for answers can provide a better edge.
• Your customers don't represent the attitudes of an entire market. They represent the attitudes of the part of the market that is already drawn to your brand.

The market research services market is growing rapidly, which signifies a strong interest in market research as we enter 2024. The market is expected to grow from roughly $75 billion in 2021 to $90.79 billion in 2025 .

Free Market Research Kit

• SWOT Analysis Template
• Survey Template
• Focus Group Template

Download Free

All fields are required.

You're all set!

Click this link to access this resource at any time.

Why do market research?

Market research allows you to meet your buyer where they are.

As our world becomes louder and demands more of our attention, this proves invaluable.

By understanding your buyer's problems, pain points, and desired solutions, you can aptly craft your product or service to naturally appeal to them.

Market research also provides insight into the following:

• Where your target audience and current customers conduct their product or service research
• Which of your competitors your target audience looks to for information, options, or purchases
• What's trending in your industry and in the eyes of your buyer
• Who makes up your market and what their challenges are
• What influences purchases and conversions among your target audience
• Consumer attitudes about a particular topic, pain, product, or brand
• Whether there‘s demand for the business initiatives you’re investing in
• Unaddressed or underserved customer needs that can be flipped into selling opportunity
• Attitudes about pricing for a particular product or service

Ultimately, market research allows you to get information from a larger sample size of your target audience, eliminating bias and assumptions so that you can get to the heart of consumer attitudes.

As a result, you can make better business decisions.

To give you an idea of how extensive market research can get , consider that it can either be qualitative or quantitative in nature — depending on the studies you conduct and what you're trying to learn about your industry.

Qualitative research is concerned with public opinion, and explores how the market feels about the products currently available in that market.

Quantitative research is concerned with data, and looks for relevant trends in the information that's gathered from public records.

That said, there are two main types of market research that your business can conduct to collect actionable information on your products: primary research and secondary research.

Primary Research

Primary research is the pursuit of first-hand information about your market and the customers within your market.

It's useful when segmenting your market and establishing your buyer personas.

Primary market research tends to fall into one of two buckets:

• Exploratory Primary Research: This kind of primary market research normally takes place as a first step — before any specific research has been performed — and may involve open-ended interviews or surveys with small numbers of people.
• Specific Primary Research: This type of research often follows exploratory research. In specific research, you take a smaller or more precise segment of your audience and ask questions aimed at solving a suspected problem.

Secondary Research

Secondary research is all the data and public records you have at your disposal to draw conclusions from (e.g. trend reports, market statistics, industry content, and sales data you already have on your business).

Secondary research is particularly useful for analyzing your competitors . The main buckets your secondary market research will fall into include:

• Public Sources: These sources are your first and most-accessible layer of material when conducting secondary market research. They're often free to find and review — like government statistics (e.g., from the U.S. Census Bureau ).
• Commercial Sources: These sources often come in the form of pay-to-access market reports, consisting of industry insight compiled by a research agency like Pew , Gartner , or Forrester .
• Internal Sources: This is the market data your organization already has like average revenue per sale, customer retention rates, and other historical data that can help you draw conclusions on buyer needs.
• Focus Groups
• Product/ Service Use Research
• Observation-Based Research
• Buyer Persona Research
• Market Segmentation Research
• Pricing Research
• Competitive Analysis Research
• Customer Satisfaction and Loyalty Research
• Brand Awareness Research
• Campaign Research

1. Interviews

Interviews allow for face-to-face discussions so you can allow for a natural flow of conversation. Your interviewees can answer questions about themselves to help you design your buyer personas and shape your entire marketing strategy.

2. Focus Groups

Focus groups provide you with a handful of carefully-selected people that can test out your product and provide feedback. This type of market research can give you ideas for product differentiation.

3. Product/Service Use Research

Product or service use research offers insight into how and why your audience uses your product or service. This type of market research also gives you an idea of the product or service's usability for your target audience.

4. Observation-Based Research

Observation-based research allows you to sit back and watch the ways in which your target audience members go about using your product or service, what works well in terms of UX , and which aspects of it could be improved.

5. Buyer Persona Research

Buyer persona research gives you a realistic look at who makes up your target audience, what their challenges are, why they want your product or service, and what they need from your business or brand.

6. Market Segmentation Research

Market segmentation research allows you to categorize your target audience into different groups (or segments) based on specific and defining characteristics. This way, you can determine effective ways to meet their needs.

7. Pricing Research

Pricing research helps you define your pricing strategy . It gives you an idea of what similar products or services in your market sell for and what your target audience is willing to pay.

8. Competitive Analysis

Competitive analyses give you a deep understanding of the competition in your market and industry. You can learn about what's doing well in your industry and how you can separate yourself from the competition .

9. Customer Satisfaction and Loyalty Research

Customer satisfaction and loyalty research gives you a look into how you can get current customers to return for more business and what will motivate them to do so (e.g., loyalty programs , rewards, remarkable customer service).

10. Brand Awareness Research

Brand awareness research tells you what your target audience knows about and recognizes from your brand. It tells you about the associations people make when they think about your business.

11. Campaign Research

Campaign research entails looking into your past campaigns and analyzing their success among your target audience and current customers. The goal is to use these learnings to inform future campaigns.

• Define your buyer persona.
• Identify a persona group to engage.
• Prepare research questions for your market research participants.
• List your primary competitors.
• Summarize your findings.

1. Define your buyer persona.

You have to understand who your customers are and how customers in your industry make buying decisions.

This is where your buyer personas come in handy. Buyer personas — sometimes referred to as marketing personas — are fictional, generalized representations of your ideal customers.

Use a free tool to create a buyer persona that your entire company can use to market, sell, and serve better.

Don't forget to share this post!

Related articles.

26 Tools & Resources for Conducting Market Research

What is a Competitive Analysis — and How Do You Conduct One?

SWOT Analysis: How To Do One [With Template & Examples]

TAM, SAM & SOM: What Do They Mean & How Do You Calculate Them?

How to Run a Competitor Analysis [Free Guide]

5 Challenges Marketers Face in Understanding Audiences [New Data + Market Researcher Tips]

Causal Research: The Complete Guide

Total Addressable Market (TAM): What It Is & How You Can Calculate It

What Is Market Share & How Do You Calculate It?

3 Ways Data Privacy Changes Benefit Marketers [New Data]

Free Guide & Templates to Help Your Market Research

Marketing software that helps you drive revenue, save time and resources, and measure and optimize your investments — all on one easy-to-use platform

63 Insightful Market Research Questions to Ask in 2023

Better understand your target customer with these must-ask questions.

Understanding your target market, and how they respond to your product, is the key to successful promotional campaigns. Even if you feel like you understand your market perfectly, markets do change over time. Your customers’ opinions, needs, and wants will change along with current trends in society, politics, pop culture, and other influences. Asking the right market research questions can help you stay on top of your changing market.

The market research questions below will help you understand your market’s most pressing concerns , along with potential pain points.

Market research questions to understand customer demographics and psychology

Aside from basic demographic questions, like age, gender, income, and location, you can create a more specific customer profile. Ask these questions to get to know your customers better:

• How do you primarily spend your time?
• In which industry do you work?
• What kind of hobbies do you regularly participate in?
• What are your main interests?
• If money or time were not an issue, what do you prefer to spend money on?
• What draws you to one brand over another?
• How do you choose between brands and products? 
• Who makes the primary purchasing decisions in your household?
• How many people do you shop for on a regular basis?
• What’s your preferred method of shopping? Why?
• What makes you decide to avoid a brand in the future?
• How do you feel about available products in [your product category]?
• How often do you shop for [your product category]? 
• How much do you spend on [product category] on a monthly basis?
• How do you use [product type] in your everyday life?

Market research questions for new products

If you’re gathering information to create or launch new products, these questions can provide valuable insight:

• What do you look for when purchasing [new product or service]?
• What is the most important feature for a [product type]?
• How does [product type] make your life easier?
• How often do you use [product type]?
• Describe how you use [product type].
• How much would you prefer to spend on a similar product or service?
• What features would encourage you to pay more for a product or service?
• Are there any features in [similar product or service] that you wouldn’t use?
• Do you feel [competing products] are priced fairly?
• What would convince you to try a new product or service in this category?

Market research questions for pain points

Understanding how your customers are responding to your current offerings, whether product, service, advertising, or customer service, can help you understand where your business can improve. Ask these questions to learn more:

• When was the last time you purchased from [company]?
• Describe your experience with your last purchase.
• Where did we succeed in meeting your expectations?
• Where did we fail in meeting your expectations?
• What would make your experience with [product] better?
• Are there any features you don’t use?
• What would your ideal product or service include?
• Have you ever talked to our customer service team?
• Describe your reason for needing customer service assistance.
• Describe your experience with our customer service team.
• Was your issue resolved?
• How quickly was your issue resolved?
• Were you satisfied with the outcome?
• What would have made the experience better?
• What’s the most difficult part of using our products or services?
• Do you use our website? How do you use it?
• Have you experienced any problems contacting us for assistance? What were they?
• Have you experienced any problems on our website? What were they?

Market research questions for pricing and placement

Understanding how your product pricing and placement compare to those of your competitors can be helpful. Use these questions to refine your pricing and promotional strategies:

• How much do you currently pay for [product type]?
• Do you think our product is priced fairly?
• Have you found [product or service] for less? Did you purchase it? Why or why not?
• What is a reasonable price range for [product or service]?
• What is the ideal price for [product or service]?
• Is [price point] too low or too high for a similar product/service?
• Have you seen our products in stores before?
• Where have you seen our products mentioned/placed/advertised?
• Where would you like to see our products or services mentioned/placed/advertised?

Market research questions for advertising and brand awareness

Advertising, marketing, and branding create an image in your customers’ minds. While brand awareness is its own market research niche, these questions will help you understand how customers perceive your brand and advertising campaigns:

• Are you familiar with our brand?
• How did you find our brand/company?
• Have you ever seen any reviews of our brand/product/company? How did they influence your purchase?
• Have you ever seen advertisements for our brand/product/company? How did they influence your opinion of us?
• Who do you think our target customer is?
• When you think of our brand, how do you feel?
• Does our advertising and branding accurately reflect your experience with our company?
• What should potential customers know about our products and services?
• What do you think our brand/company stands for?
• Have you ever followed any of our social media channels? Which ones? How do you feel about our social media presence?

Ask the insightful questions with Voiceform

When it’s time to ask the market research questions that will get you the insight you desire, Voiceform will make the process simple. Our feature-rich, innovative multimedia survey platform empowers companies to get the answers they need. From voice and video functions to AI transcription and analysis , this powerful survey platform can help you create, launch and distribute multiple survey types. Learn more about our products today by scheduling a demonstration.

We make collecting, sharing and analyzing data a breeze

Get started for free. Get instant access to Voiceform features that get you amazing data in minutes.

Product Management

80 Market Research Questions for More Valuable Insights (+tips)

Content Writer

Created on:

April 15, 2024

Updated on:

Transform Insights into Impact

Build Products That Drive Revenue and Delight Customers!

There are different types of market research, with 85% of researchers regularly using online surveys as their go-to tool , allowing them to reach broad target audiences in a cost-effective way.

Online surveys can break down geographical barriers and uncover profound customer insights, but only if you come up with the right market research questions.

Your questions shape the data you get, influencing your understanding of customer behavior and key consumer trends.

In this article, you'll find many examples of market research questions organized by categories, followed by tips for creating and analyzing your own market research survey.

80 market research questions to ask for more valuable insights

Demographic questions.

Learning more about your existing customer base can help you identify your ideal customers and adjust your marketing strategy accordingly. During the process, you may also discover that you have different customer personas, and you can later segment your audience.

Also, having detailed demographic data allows you to create targeted marketing campaigns that will convert better.

Here are some questions to explore your target audience:

• What is your age and gender?
• Where do you live?
• Do you have a partner or children?
• What is your highest level of education?
• In what industry do you work?
• What is your current job title?
• What is your annual income?
• What's the category you spend the most money on (e.g., groceries, technology, clothes)?
• What's the average amount you spend on _____ (mention a particular category relevant to your industry)?
• What websites, newspapers or magazines do you use to stay informed?

Product opportunities

Almost half of the startups fail because they're building products for which there's no real market need . That's why it's essential to do a product opportunity assessment before you invest time and money into building a product that may not have a big enough target market.

The following market research interview questions will help you discover burning issues and problems that your new product or service can solve.

• What challenges and problems do you currently face in _____ (name specific area) that you can't find an adequate solution for?
• Are there any existing products that you find close to meeting your needs but still fall short in some aspects, and which?
• How do you currently cope with the absence of a dedicated solution for that problem?
• Hypothetically speaking, what would an ideal solution for that problem look like?
• What features would you like this product to include?
• Would you purchase this product if it was available today? If not, why?
• What is the one feature that would make our product a must-have for you?
• Are there any untapped market segments or niches where our product could solve the existing problems?
• If you were to brainstorm about a product that anticipates future needs in your industry, what would be its main features?
• How would you prioritize the importance of the following features? (you can provide them with a list of features they need to rank from the most important to the least important)

If you've already started developing your product, read this article on how to get feedback for early-stage products and validate your product.

Customer feedback

If you've already launched a product or service, you should ask your existing customers for feedback and suggestions for improvement. This is an essential component of continuous product discovery , which is the best way to increase customer satisfaction by anticipating their needs.

Here are some questions you can use:

• How long have you been using our product?
• How often do you use our product?
• What made you decide to purchase our product?
• Describe how you use our product and what problems it solves for you.
• Which features of our product do you use the most?
• Which features of our product do you use the least or not at all?
• What is the best feature of our product in your opinion?
• What might be the weakest feature or the biggest area for improvement in our product?
• Have you had any issues or problems with our product?
• What would you miss the most if our product was no longer available?

Click here to discover 13 proven ways to collect customer feedback . Also, here are some additional questions for your product feedback survey .

Brand awareness

Market research surveys can help you see how existing and potential customers perceive your brand and whether you need to raise brand awareness or adjust your brand image.

• Have you heard about our brand before?
• How did you hear about us?
• What is the first thing that comes to mind when someone mentions our brand?
• What emotions or feelings do you associate with our brand?
• How would you describe our brand in one sentence?
• Are you currently using our products, and how often?
• How likely are you to purchase our products again?
• Are you aware that we also offer _____? (this can be an excellent opportunity for up-selling)
• How often do you see our posts or ads on social media?
• You can also calculate the Net Promoter Score by asking your current customers: On a scale of 0 to 10, how likely are you to recommend our product to a friend or colleague?

Pricing analysis

The following market research survey questions will help you explore the balance between product quality, features, and cost and assess the perceived value of your product.

• What is more important to you: product quality or price?
• In your opinion, what's a fair and reasonable price for a product like this?
• What is the price range within which you'd feel comfortable purchasing this product?
• What is the maximum amount you'd be willing to spend on this product?
• If you think the price is too high, what additional features or improvements would justify the current price of our product?
• Are there specific payment options or financing plans that would make you consider purchasing our product?
• Do you find our pricing information clear and easy to understand?

Customer preferences

This set of questions will help you learn more about consumer preferences and their purchasing habits so that you can adjust your strategy accordingly.

• What factors are influencing your purchasing decisions the most?
• Where do you look for products you want to buy?
• Do you prefer offline or online shopping, and why?
• Do you read customer reviews, and on which websites?
• Are you looking for recommendations from your friends and family?
• Do you use social media to follow brand accounts, and which platforms do you use the most?
• What is your preferred way to receive information and updates about a brand (e.g., social media, email newsletter, SMS)?
• How do you prefer to consume information: through video, audio or reading?

Customer concerns

Understanding why people are not buying from you is essential for adjusting your offer and marketing. This set of questions will help you uncover potential objections you can address on your website.

• Is there anything that's preventing you from buying our product?
• What would need to happen for you to purchase our product today?
• If now is not the right time to buy it, why is that?
• Do you have any doubts or questions about our product?
• What was your biggest concern before purchasing our product?
• What is the main reason for canceling your subscription / not ordering again?
• Did you encounter any problems or challenges when using our product?
• If there was one thing about our product that would have made your decision-making process faster, what would it be?

Competitive analysis

It's important to research your competitors and learn both about their unique selling points and their weaknesses from users’ perspectives, which can help you discover your own competitive advantage and do a thorough market opportunity analysis.

• How are you currently dealing with the problem that our product solves?
• Are you already using a product with similar features?
• Which products or brands would you consider as an alternative to ours?
• Why did you choose our product over other options?
• Did you consider any other options?
• Does our product miss some features that our competitors' products have?
• Are our prices higher, lower or similar to those of other companies?
• Which of these products have you tried? (provide a list of your competitors' products)
• What is your preferred brand?
• If our product was no longer available, what other product would you choose instead?

The following market research questions can be applied to your website, landing page, social media platforms or any other channel you use to share information about your product or service or communicate with your customers.

• Was it easy to find information on our website?
• Is our website easy to navigate and user-friendly?
• Is some information missing on our website?
• Is product information clear and transparent?
• Do you think we should add any features to our website, and which ones?
• What kind of content would you like to see on our blog?
• Did you have any difficulties using our website?

Market research questions: Best practices

Here are a few tips to consider when creating your own market research questions:

• Define clear objectives: Before starting, you have to be clear on what you want to get out of the market research. Learning more about your potential customers? Identifying your competition? Evaluating a new product idea? Identifying different customer segments?
• Use neutral language: If you want to get unbiased results to drive customer-led product growth , use neutral language to avoid leading participants toward a particular response.
• Use different types of questions: You should combine multiple-choice questions, Likert scales and open-ended questions, as each of them helps you gather different types of data. While close-ended questions are great for collecting and analyzing large amounts of quantitative data, the open-ended format can be better when creating interview questions for market research as it provides you with deeper customer insights .

Writing questions and conducting market research is just the first step. The second and even more important step is to analyze the data you've gathered so you can uncover insights and patterns.

The best way to do so is through a customer feedback platform like Zeda.io, which provides you with a centralized workspace to collect and manage feedback and analyze data from all customer interaction points in one place.

Our platform helps you transform customer feedback into actionable insights that can help you decide which product to build or how to prioritize product features .

Thanks to advanced AI algorithms, we can help you spot product opportunities by uncovering the features users desire the most.

It can also help you analyze customer feedback to detect issues and frustrations reported by users so that you can enhance customer experience by promptly fixing them.

We can also spot trends in user feedback and calculate a potential revenue impact from adding new features.

We hope you were able to pick some ideas for creating your next customer survey or interview questions for market research.

After conducting research, it's crucial to thoroughly analyze your market research questionnaire using the right user feedback tools .

Zeda.io is an AI-powered tool that transforms raw customer data into actionable insights, helping you better understand your customers and spot emerging trends before competitors.

It helps you take the guesswork out of product discovery and confidently create products your target market will love.

Sign up today, and let's uncover burning issues and market gaps together.

Join Product Café Newsletter!

Sip on the freshest insights in Product Management, UX, and AI — straight to your inbox.

By subscribing, I agree to receive communications by Zeda.

How do you write a good market research question?

Good market research questions are the ones that are clear, concise, specific and aligned with your goals. To get unbiased data, avoid leading questions and suggesting particular answers to your target audience.

What questions should I ask for market research for a new product?

You should ask target customers about their pain points, struggles, challenges and desires. See how they're currently solving those problems, whether they're using any other similar product and whether some features of that product could be added or improved.

What are the 7 basic questions in market research?

Here are the key market research questions: What problem is our product solving? Who is our target audience? What product features are the most important for them? What influences their purchasing decisions? How much are they willing to pay? What's preventing potential customers from buying our product? Who are our main competitors?

What are the elements of market research?

The main elements of market research are researching your target audience, their needs and problems, doing a competitor analysis and spotting market trends.

IN THIS ARTICLE:

Latest articles

9-step product launch checklist for product managers.

A product launch is an event where you announce the release of your product into the market. Use this 9-step product launch checklist to make that effortless.

The Role of AI-Driven Insights in SaaS Product Management

In this article, you'll learn how leading SaaS companies are using AI to understand users, prioritize roadmaps, and drive product-market fit. We'll cover real-world examples and actionable tactics you can start applying to your product and team right away.

Product Feedback Management - What it is, Why it's important & Best practices

Product feedback management is no longer about getting customer responses. It is about listening to the customer's requirements and creating a solution for them.

Decide what to build next with AI-powered Insights

• What are product discovery techniques?
• 8 key product discovery techniques link

How to Successfully Launch on Product Hunt?

What is Product Hunt? What are the benefits of launching on Product Hunt? How to launch on Product Hunt? This Product Hunt launch guide is all you need.

User Personas in Product Management: Complete Guide for Product Managers

Want to delight your users? The first step is to understand them through user personas in product management. Here is how you can build user personas today.

What is Kano Prioritization and How to Use It?

Learn what the Kano Prioritization model is, understand its two dimensions and five categories, and how to implement it in five easy steps.

Download a resourse

Non tincidunt amet justo ante imperdiet massa adipiscing.

App Sign Up

Subscribe to newsletter, book a demo, ai-powered product discovery for customer-focused teams.

Summer is here, and so is the sale. Get a yearly plan with up to 65% off today! 🌴🌞

• Form Builder
• Survey Maker
• AI Form Generator
• AI Survey Tool
• AI Quiz Maker
• Store Builder
• WordPress Plugin

HubSpot CRM

Google Sheets

Google Analytics

Microsoft Excel

• Popular Forms
• Job Application Form Template
• Rental Application Form Template
• Hotel Accommodation Form Template
• Online Registration Form Template
• Employment Application Form Template
• Application Forms
• Booking Forms
• Consent Forms
• Contact Forms
• Donation Forms
• Customer Satisfaction Surveys
• Employee Satisfaction Surveys
• Evaluation Surveys
• Feedback Surveys
• Market Research Surveys
• Personality Quiz Template
• Geography Quiz Template
• Math Quiz Template
• Science Quiz Template
• Vocabulary Quiz Template

Try without registration Quick Start

Read engaging stories, how-to guides, learn about forms.app features.

Inspirational ready-to-use templates for getting started fast and powerful.

Spot-on guides on how to use forms.app and make the most out of it.

See the technical measures we take and learn how we keep your data safe and secure.

• Integrations
• Help Center
• Sign In Sign Up Free
• 50+ Must-ask questions for your market research surveys

Şeyma Beyazçiçek

Market research is an essential part of finding answers to your questions. For this reason, market research surveys have a big importance. So, market study survey questions, too . These types of questions help you get essential data about the target audience, conduct competitive analysis, get new ones, or protect existing customers .

We have gathered the most essential data to help you gather information on the target market or target customer. In this article, you will find 50+ market research survey questions and examples about customers, products, social media, etc. You need to seriously consider these business survey questions for market research and learn more!

• What is a market research survey?

A market research survey is a document that asks demographic questions or any type of market research questions that aim to collect vital customer feedback to make you better in marketing . The critical point of a market research survey is to learn customer experience and make marketing plans according to it.

A report by Statista shows that since 2008 , the market research sector’s global revenue has increased by more than twice, surpassing $81 billion in 2022 . So, the importance of market research is getting more realized, and you need market analysis survey questions. Good survey questions for market research collect data to help you create definite strategies for a better marketing plan.

• 50+ Market research survey questions you must ask in your surveys

Each company has its own unique priorities and needs. For this reason, companies should choose questions carefully for their survey. 50+ market research survey questions might differ according to the needs and requirements of a company. Nevertheless, we have gathered the most essential and basic ones to make you grow faster. 

If you want to access all these privileges we have discussed so far, you need to have a look at these 50+ must-ask questions for your market research surveys:

Customer survey questions for market research questions

The primary reason for selling a product or service is for customers . Finding the target audience for your company is one of the most important parts of your market research survey. For that reason, you need to have a look at these customer survey questions for market research questions: 

1. How often do you shop from us?

• Once a week
• Twice a week
• Once a month
• Twice a month
• Once every two months
• Once every three months
• Once every six months
• Once a year

2. What is your favorite product/service?

3. What is your least favorite product/service?

4. Why do you choose us?

• Your reputation for quality products and services
• Your competitive pricing
• Your commitment to customer service
• Your convenient location
• Your wide selection of products and services
• Your knowledgeable staff
• Your experience in the industry
• Your commitment to innovation
• Your commitment to sustainability

5. Would you recommend us to your friends/family?

6. Since when do you choose us?

• Two Years Ago
• Three Years Ago

7. Overall, from 1-10, how do you rate us?

An opinion scale question example about satisfaction

Market research questions for a product

A market research question for a product is an excellent helper for companies to understand and collect data about existing. If you want to learn how your customers are satisfied with your exciting product, you only need to ask them these questions. Here are your market research questions for a product: 

8. Have you ever heard of this product before?

9. From 1-10, how would you rate this product?

10. Do you believe this product is useful/helpful for you? 

11. What is the likelihood of buying this product again?

• Very Likely
• Very Unlikely

12. What do you like about this product?

• It is easy to use
• It is cost-effective
• It is reliable
• It has great customer service
• It has a wide range of features

13. What do you dislike about this product?

• Functionality

14. Would you recommend this product to your friends or family?

You can replace the word “ product”  with the name of your own product.

A question example about purchasing behavior

New product market research survey questions

New product market research survey questions are perfect for your company if you plan for a new product. Imagine that you are about to launch a new product. You can take fewer risks if you ask questions about the new product before launching it. So you might need these market research questionnaire questions for your new product: 

15. Have you seen a similar product? 

16. How likely are you to use this product for your business activities?

17. What do you think is the best feature of this new product?

18. What do you think is the least favorite feature of this new product?

19. Do you find the price reasonable?

20. Are you excited about this product?

21. Overall, from 1-10, how do you rate this new product?

A question example about later use

Social media survey questions for market research

Social media is an excellent way of collecting helpful data from your customers because, today, nearly everybody has a social media account. You can have insightful data as long as you know which platform to use and how to use it. So, here are your social media survey questions for market research: 

22. Which social media platforms do you use? ( you can choose more than 1 )

23. In which social media platforms do you spend time the most?

24. Do you follow us on your social media accounts?

25. What do you think about our company’s social media account? 

• It's great!
• It could use some improvement.
• I haven't seen it

26. Do you believe we can use social media effectively?

27. What can we do to improve our social media accounts?

• Post regularly
• Run contests and giveaways
• Use relevant hashtags
• Optimize profile information
• Respond to comments
• Collaborate with influencers

28. Which influencers do you relate to us the most?

A market research survey question example about social media

Market research questions to ask potential customers

As much as trying to hold your existing customers, you should also try to find potential customers and expand your network. Because only in this way you can grow your business. When you have good market research questions to ask potential customers, as given below, you can easily get what you need: 

29. Have you ever heard us before?

30. When you think of our brand, what comes to your mind first? 

31. Who is our rival for you?

32. What is your minimum budget?

33. What is your maximum budget?

34. Would you consider choosing our product/service?

35. What are your best aspects, you think?

Market research questions for B2B companies

Just like any sector, B2B companies need to do their best to run market research. As for their market research survey, the questions will be different because they need to aim at businesses directly. If you need them, here are your market research questions for B2B companies: 

36 . Who is your ideal customer?

37. What really matters to your ideal customer?  

38. Do you think you know your customers?

39. How can you know your customers better?

40. What is your customers’ annual income? 

41. What do your customers do in their free time?

42. What attracts your customer?

Demographic questions for your market research survey

Demographic questions allow your company to understand your customer’s background better. Also, if you want to understand the certain characteristics of your target audience, demographic questions are the best option for you. Have a look at these demographic questions for your market research survey: 

43. What gender do you identify as?

• Genderfluid

44. How old are you?

• 65 or Above

45. What is your marital status?

46. Can you please specify your ethnicity?

• African American
• Asian American
• Hispanic/Latino
• Native American
• Pacific Islander
• White/Caucasian

47. Where are you located?

• United States
• United Kingdom

48. What is your education level?

• High School
• Associate's Degree
• Bachelor's Degree
• Master's Degree
• Doctorate Degree

49. What is your annual income?

• $0 - $25,000
• $25,001 - $50,000
• $50,001 - $75,000
• $75,001 - $100,000
• $100,001 - $150,000
• $150,001 - $200,000
• $200,001 and above

50. What is your current employment situation? 

• Employed full-time
• Employed part-time
• Self-employed
• Not looking for work

A market research survey question example about income

• How can I create a market research survey?

In order to collect essential data for your market research, if you want to handle it the fastest way, you will need an online form builder. Also, if you want to build your form with lots of options and create just like you wish and want to do all of them for free, there is only one option left: forms.app .

As long as you follow some basic steps, you can easily create your market research survey and here are the steps: 

1. Login or create an account

Firstly, you should log in to your existing account if you do not have one; no worries, you can easily and quickly create an account . Also, do not forget that you have the opportunity to log in via Google, Facebook, and Apple accounts. 

2. Start from scratch, choose a temple, or generate with AI

You have access to a wide range of options thanks to forms.app . You must begin from scratch if you wish to pick every aspect of your survey. The site offers pre-made market research survey templates if you do not want to spend too much time on it. However, if you stay current with the latest technology, artificial intelligence can create your survey in seconds!

3. Add your market research survey questions

Based on your company’s primary needs and essential requirements, you should choose your market research survey questions very carefully. Each company’s priorities can differ. For that reason, you need to pay attention while adding them. 

4. Customize your survey form

In this step, you can easily change and personalize your online survey . To give an example, you can change the size and type of the font, colors, and order of questions, add your brand’s logo, etc. 

5. Share your market research survey

In the final step, you can share your survey with your target via many platforms . You can choose the link to be public, limited, or private while sharing. Additionally, you can preview the link to see whether it has any meta titles, descriptions, or images. 

• How can I write good market research questions?

One can randomly create market research questions for the survey; however, if you want to be one step ahead of your rivals and be good at writing market research questions, you need to follow the points given below:

• Consider your company’s needs : You need to have a moment and consider what your company needs the most. What are your priorities or urgent needs? Or what are your urgent deficiencies to be covered? After answering these questions, you can create better questions. 
• Think like the customer: The key point is listening to your customers and trying to think like them. When you think like them, you can come up with better market research questions and collect more valuable data for your survey. 
• Be direct: Questions asked directly are definitely better , instead of asking too many indirect questions or long and complex sentences that might be confusing. So, you need to pay attention at this point. 
• Key points to take away

As we have discussed so far, the importance of market research is undeniable. If you want to increase your market share and be more successful in your sector, there are some key points for your company to take away. You should not ignore these points:

• Design of the survey: Do not forget that the more you pay attention to your market research survey design, the more you will seem professional. 
• Pay attention to the context: Design is an important factor, but context is the exact reason you run a survey. So, you need to be careful with your questions. 
• Check the result: At the end of the survey, checking and analyzing the results is a key point. If you will not do that, there is no need to share the survey, isn’t it?

Now that you have read so far, you know all the critical points about the issue and where to start. Take action now and start finding your own effective data collection methods for market research !

Şeyma is a content writer at forms.app. She loves art and traveling. She is passionate about reading and writing. Şeyma has expertise in surveys, survey questions, giveaways, statistics, and online forms.

• Market Research
• Form Features
• Data Collection

Table of Contents

Related posts.

45 Survey questions for a depression questionnaire (+templates)

Eren Eltemur

45 Couples survey question examples for your questionnaire

Talent management strategies for startups

David Torrealba

• A/B Monadic Test
• A/B Pre-Roll Test
• Key Driver Analysis
• Multiple Implicit
• Penalty Reward
• Price Sensitivity
• Segmentation
• Single Implicit
• Category Exploration
• Competitive Landscape
• Consumer Segmentation
• Innovation & Renovation
• Product Portfolio
• Marketing Creatives
• Advertising
• Shelf Optimization
• Performance Monitoring
• Better Brand Health Tracking
• Ad Tracking
• Trend Tracking
• Satisfaction Tracking
• AI Insights
• Case Studies

quantilope is the Consumer Intelligence Platform for all end-to-end research needs

Market Research Questions: What to Ask for Better Insights

You see the value in market research and have support from your stakeholders to get started on some projects, but when you sit down to draft your questionnaire, you don’t quite know where to start. Sound relatable? If so, read on to learn some key market research questions to ask for actionable customer feedback.

Table of Contents: 

• Why ask market research questions? 

Types of market research questions to ask

Market research questions for different research goals, how to use market research questions in a survey, why ask market research questions.

Market research questions help us get to the core of consumer behavior - such as why consumers act the way they do and how they go about their buyers’ journey. Market research surveys are a means of answering these questions, so brands can optimize their offerings (be it products or services) according to customer needs. Without asking your customer base what they want or need, you’re left making assumptions that may or may not hit the mark - which can lead to a waste of valuable time and budget.

Back to Table of Contents

Some of the most basic examples of market research questions are those related to demographics (who consumers are), yet these are some of the most foundational questions a survey can ask to make other insights more powerful. Beyond demographic traits, psychographics (what consumers are like - attitudes, aspirations, etc.) and behavioral questions (how consumers act) also paint a detailed picture of a target market. Below we'll cover some types and examples of market research questions that can help make better business decisions. 

Demographic questions

Where do you live?

How old are you?

What is your gender?

• What is your current marital status?

What is the highest level of education you have completed?

• What is your current employment status?
• What's your household's annual income? 

Psychographic questions

What interests you?

How do you like to spend your free time?

What are your goals for the year?

• What are your top three priorities in life?
• How comfortable are you with trying new things?
• What are your views on social issues like climate change, inequality, or political polarization?
• How important is it for you to be seen as successful by others?

Behavioral questions

How often do you grocery shop?

Do you prefer to shop in-store or online?

On which days of the week are you most likely to watch television (and subsequently see advertising)?

How much money do you usually spend on X products?

Which retail brands do you buy from and why?

• Think about a time you recommended a product or service to someone else. What made you so enthusiastic about it?
• Have you ever participated in a brand's loyalty program or rewards system? If yes, what did you like about it? 

The type of questions you’ll want to ask in your market research survey will depend on your research goals. Are you trying to get to know your existing customers? Are you looking to engage with potential customers? Are you hoping to conduct a competitive analysis for your brand? A survey could be crafted around any or all of these objectives to fully explore each topic.

Once you determine the goal of your research, you can begin drafting your questionnaire using some of the question types above. Beyond capturing basic demographic questions among every survey respondent, below are a few examples of psychographic and behavioral question types:

For existing customers: 

For brands who already have a solid customer base and want to get to know them better to improve customer retention, ask things like:

Why did you start using our [product or service]?

Would you buy from us again?

Would you recommend us to your family and friends?

Are there similar products that you use for different reasons?

What, if anything, would you improve about or product or service?

For potential customers: 

If you’re looking to gather information about new customers you don’t already reach, get to know them through in-depth market research survey questions:

What factors influence your purchasing decision when shopping for a new [product or service type]?

Which of the following products [or services] are most appealing to you?

Where do you typically shop for [product or service]?

When will you be in the market for a new [product or service]?

How much do you typically spend on a new [product or service]?

For products: 

Surveys are a great tool to test reactions and perceptions of your product before you finalize it for launch. Below are some examples of market research questions for a new product to develop a final offering  that fits what customers want:

What are the most/least important elements of a [product type]?

Which scents/flavors do you find most pleasant in our existing product line? Which ones do you hope to see in the future?

What pain points are you looking for a product/service to solve?

How does this product compare to others on the market?

For pricing: 

Once you have settled on a product, you’ll need to determine the pricing for it. You can’t just set any price you want and expect consumers to pay it. The best way to go about pricing decisions is to actually survey your target customers to see what they’d be willing to spend:

Do you think the product is priced fairly?

What do you think is the ideal price for our [product or service]?

Are there any conditions in which you’d pay a higher price for our [product or service]?

What price is so high that you’d not even consider buying our [product or service]? (i.e. price sensitivity ).

For branding: 

Lastly, a brand might have its target audience figured out, with a solid product that’s appropriately priced, but it needs to be marketed and branded . Ask questions like: 

Are you familiar with our brand? (i.e. brand awareness)

Describe your customer experience so far with our brand.

How would you rate your customer satisfaction with our brand?

How likely are you to recommend our brand to family and friends?

For more on branding, consider a brand health tracker that can capture category entry points and the mental availability of brands: 

When designing a market research survey, careful consideration should be given to both the formatting of the questions and their overall structure. Getting these aspects right can significantly improve the quality and depth of the actual insights you gather - empowering you to make better business decisions.  Below we'll explore various question formatting options, including open-ended and closed-ended questions, as well as tips to create a logical flow throughout your questionnaire. 

Question formatting options

Once you’ve determined the question content you’d like to ask in your survey, there are multiple ways you can go about actually programming each one. Below are some common question formats, and when to use each one: 

Multi-select: Use when you want a respondent to select as many items as apply to them from a list.

Rating scale/matrix: Use when you want respondents to provide a numeric rating on a single item (scale) or a list of items (matrix); (i.e. 1-5 likeness toward each, 1-5 level of satisfaction with each, etc.)

Open-ended questions : Use when you want respondents to provide written feedback to a question (i.e. ‘tell me about your latest shopping experience in-store’, or ‘what do you love about this product/service?;)

How to structure your questions for better insights

Good questions that are thoughtfully structured will guide respondents through your survey smoothly, minimize confusion, encourage complete responses, and ultimately, yield high-quality results to tailor marketing strategies, product development, and customer service initiatives.  Starting with broad inquiries and gradually narrowing the focus enhances respondents' survey experience and enables you to identify patterns and correlations within the data. Below are some tips to keep in mind when structuring your market research survey.  

1. Start with a goal

The first step is to set a clear goal for your market research questionnaire. That goal could be to understand your buyer persona, learn how to maintain loyal customers, improve your website’s user experience, increase market share, or launch a new product.

2. Review what you already know

Conducting market research should aim to only answer questions that you don’t already have the answers to from previously-collected customer insights. Start by reviewing your own market research findings from past studies to see if you can answer any current questions. You can also look into customer reviews (if available), social media comments, and other external sources to see what people are saying about your brand.

3. Don’t make assumptions

Don’t ever assume you know something about a consumer without data to support it. For example, you may think that all customers use your product/service year-round when really, they’re only using it in the winter. You need to collect data to support any business decisions you’re making. That’s the only way to ensure you’re making good use of your time and budget, and that customer needs are met appropriately.

quantilope’s Insights Automation Platform makes a brand, product, or customer survey as simple as a drag & drop of questions. The platform is equipped with a number of automated survey tools (piping, pre-programmed survey templates , etc.) along with a suite of thirteen automated, advanced methods (i.e. market segmentation, key driver analysis, a/b testing, and many more). With results available in real-time, quantilope users begin diving into customer feedback instantly, with final results ready in a matter of days.

Ready to collect data for your own market research study? Get in touch below:

Get in touch to start building better insights!

Related posts, unlocking your brand’s potential with white space analysis, effective concept testing in new product development, mastering retail price optimization for maximum profitability, quantilope academy is now open to the broader insights community.

Research 101

How to Calculate Your Sample Size Using a Sample Size Formula

November 25, 2021

Patrick Hyland

Advanced Research

100 Open-Ended Survey Questions for Effective Consumer Research

Consumer research surveys are an impactful way to gain valuable customer insights. Here is a list of 100 open-ended survey questions to get you started.

March 22, 2024

Market Research

Because we live in a globalized economy, market trends and customer preferences constantly morph and change over time. This only leaves brands with (open-ended) questions about their customers.

Among the constant waves of competition and increasing power of choice given to consumers, a company’s ability to maintain an agile strategy with this added pressure will determine its rate of survival over the next decade.

With that in mind, conducting effective and impactful market research is now more essential to basic business survival than at any point in history.

That's why we put together this epic list of 100 open-ended survey questions for market research.

Should I Use Closed-Ended or Open-Ended Survey Questions?

Often, the first step in collecting consumer data is developing a strong customer survey that has high response rates. The type of questions you use would then be dependent on the type of insights you are looking to collect.

A close-ended question can be highly effective in helping you achieve quantitative data of your customers. For example, if you were conducting research on condiment usage patterns, multiple answer or rating scale questions can help you quickly understand the percentage of users that consume cilantro on a weekly basis.

On the other hand, open-ended questions can help you gain qualitative data and customer insights . For example, as part of the same research, open-ended questions can you help collect free form verbatims on what difficulties survey respondents face when they cook with spices.

What is an example of an Open-Ended Survey Question?

Good survey questions are built with specific insights in mind. Within the world of market research, we believe that strong qualitative survey questions can fall under five broad categories:

• Customer Behavior:  Understanding general consumer trends and purchase behavior.
• Customer Feedback:  Understanding what customers feel about your products and services.
• Concept Testing:  Understanding what customers feel about a new concept for a product or feature.
• Marketing:  Understanding the effectiveness of your marketing and advertising campaigns.
• Competitive Analysis:  Understanding how your brand and product stand up against your competitors.

Implementing the appropriate open-ended questions in a survey helps you collect the most relevant insights to your needs. But what are the different types of questions and response options your company can use to collect the strongest survey data?

Customer Behavior Survey Questions

What does the customer journey look like for your consumers? What are some of the key pain points they face? Use these questions to gain better insights into those behaviors and preferences.

• What solutions did you try before using our product?
• When you started using our product, what were you thinking about?
• How do you typically find information about this type of product?
• What websites do you use to discover new products?
• What do you research about a product before purchasing it?
• What type of product do you research the most before purchase?
• What is the biggest difficulty you face when purchasing this type of product?
• How does Product X make you feel?
• How have you tried to solve Problem Y?
• What are the main challenges you are currently facing without a product like Product X?
• What persuaded you to [action] today?
• What is stopping you from [action] today?
• Now that you’ve solved Problem Y, what’s next?
• What influences you to purchase from a store in person?
• What influences you to purchase a product online?
• What deters you from purchasing a product online?
• What discourages you from purchasing a product in-store?
• What is your preferred brand of this product?
• At what point do you re-purchase this product type?
• What additional product are you likely to purchase alongside this product?
• How do you feel before purchasing this product?
• How do you feel immediately after purchasing this product?
• What factors determine your budget for this product?

Customer Feedback Survey Questions

Customer feedback management has a bad reputation for existing in quantitative scales of 1 to 5 and smiley faces of measurement delivered via cold email. Whether a customer’s feedback for your product or service is positive or not, this type of data collection will likely not give your company the feedback you want. Instead, try a few of these open-ended questions to collect quick, meaningful data.

• Follow Up: Why do you like using that feature?
• Follow Up: What makes you say that?
• What surprised you about using this product?
• What annoys you about this product?
• What problem does our product solve for you?
• How well does our product solve your problem?
• What part of our product is easy to use?
• What were the main difficulties you faced when using our product?
• How could we have helped you better use our product?
• If you could change one thing about our product, what would you change?
• What other features would you have liked to see on this product?
• Describe how you feel about our product.
• How can we improve your general experience with the company?
• In what situations do you use our product?
• If someone asked you about this product, what would you say to them?
• What is the primary benefit that you have received from using our product?
• Who would you recommend our product to?
• Describe your experience with our customer service team.
• What is the main factor that influences your decision to switch brands?
• How does past experience influence your decision to purchase from a brand?
• What do you expect from customer service after purchasing a product?
• What are your standards of quality when purchasing similar products?
• How do you prefer that a customer service team handles your complaints?
• What celebrity can you see endorsing or representing this product?
• Describe your purchasing process for this type of product.
• What influences your decision to purchase a new product?
• What was disappointing about your last experience with us?
• What was delightful about your last experience with us?

Concept Testing Survey Questions

Your company can collect data on a variety of types of customer feedback - and you don’t have to wait until after a product’s launch. Gauge customer interest for new products or features by writing a survey that measures perception, usage, tone, and experience before the concept ever reaches fruition. Use these questions to launch your inquisition into a new concept.

• How would you use this new feature?
• Follow Up: Why don’t you like that part of the feature?
• What considerations do you have when deciding on a version of the product?
• Among these different versions of the product, why did you decide on _____?
• How does this new feature make you feel?
• What excites you about this new feature?
• Follow Up: Why did you answer that way?
• If you had a magic wand and could have any new feature that you wanted on this product, what would it be?
• Have you seen something similar to this feature elsewhere?
• How do you think this new feature will improve your experience?
• How much would you expect to pay for this product?
• How do you envision incorporating this product into your daily life?
• Describe why this product is innovative.
• Describe why this product is not so innovative.
• At what stage of development do you think this product is at?

Marketing Survey Questions

Qualitative research is not exclusive to product development and concept testing. Surveys can also be used to understand the customer and consumer perceptions of marketing and advertising campaigns. These questions will help your company better understand external perceptions of your product.

• What do you think about our product’s story?
• What originally attracted you to our product?
• What do you like best about the messaging we use to promote our product?
• How would you explain our product to a friend, family member, or colleague?
• In one line, describe our product.
• What communication channels would you prefer we use?
• What supplementary content would help you use our product?
• Where exactly did you first hear about us?
• What companies or products do you perceive as our competitors?
• How does our messaging stand out from the competition?
• Who do you think uses our product?
• Which product attributes are most important to you?
• What would you improve about the product description?
• Write a one-sentence description of this product.
• How could our brand be more honest and transparent?
• What charity pairs well alongside our product?
• How could our product be more tailored to you?
• What does our product design make you feel?
• What does the product design remind you of?

Competitive Analysis Survey Questions

Although competitors come up in a variety of conversations with customers, asking specific competitive analysis questions is your time to dig deeper into your market share and potentially obtain internal information from competing companies.

• How would you feel if you couldn’t use our product?
• What other solutions have you considered?
• Which other options did you consider before choosing our product?
• Why did you choose our product rather than a competitor’s?
• What do we do better than other companies in this field?
• Who should we try and learn from?
• What would you use as an alternative if our product was no longer available?
• What are the first three brands in this category that come to your mind?
• In your opinion, what could we do to stand out from the competition?
• In the past three months, what have you heard about our brand?
• How would you describe your overall opinion of our brand?
• Do you have any additional comments or feedback for us?
• What could we have done to get a 10/10 today?

So you’ve developed a strong set of questions. What’s next? Check out the next step in our guide to writing better online surveys or discussion guides .

How to Avoid Confirmation Bias in Research

Hidden Insights: The Power of Participant Voting in Market Research

Compressing Research Timelines Without Sacrificing Quality

Stay up-to date..

Stay ahead of the curve. Get it all. Or get what suits you. Our 101 material is great if you’re used to working with an agency. Are you a seasoned pro? Sign up to receive just our advanced materials.

Get insights in your inbox . Sign up to stay up to date on the latest research tactics and breakthroughs.

©All Rights Reserved 2024. Read our Privacy policy

No data capture tricks. No bull SEO content for ranking. Just good, solid, honest, research ed.

By entering your email address, you agree to receive marketing communications in accordance with our privacy policy.

Request a demo

Dive Deeper

• Pollfish School
• Market Research
• Survey Guides
• Get started

The Most Insightful Market Research Questions You Can Ask

With great customer expectations in today’s ever-growing digital world, market research has become exceedingly important. It should be at the forefront of every business’s strategy. Even if you feel as though you’ve nailed your target market down to a tee, there will always remain work to be done on the market research front.

That’s because market trends sway, as do the opinions and desires of your customer base. That means when you least expect it, even your most loyal customers will turn to your competitors, sometimes for good. But you can still stay in the know about what your customers want and think by running a sturdy market research plan.

As part of any solid market research endeavor, you’ll need an apt set of questions to help answer the most pressing needs and opinions of your customers. You’ll also need sets of questions that pertain to your needs as well; this is especially crucial to understanding your customers’ minds about your product or service.

Let’s explore four sets of insightful market research questions.

Questions Based on Pain Points

These questions are thematically based on the difficulties customers may have undergone, are currently experiencing, or may run into in the future. In regards to the latter, these types of questions are great in that they are wired to prevent the pain points from occurring in the first place.

Here are some examples of market research questions on customer experience (CX) and customer journey points of friction.

What is the most difficult aspect of [action related to your product]?

What bothers you the most about ?

What issues do you typically run into on our website?

How can we better support your needs when shopping for…?

What frustrates you the most about ?

Questions Based on Goals

Goals-based questions help answer what your customers want, in that they inquire specifically about what it is customers are looking for and what they hope to gain from a product or service. These questions do not necessarily have to zero in a particular product/service — although some of them should. Rather, they can focus on improving specific tasks/actions related to your field. This will not only help you understand how your customers feel about your market but will allow you to innovate more and faster.

Here you’ll find some examples of market research questions on customer goals.

What do you look for in a ?

What do you think can do to improve its usefulness?

What can do to help improve your overall user experience?

What aspects would you like to see in new ?

What do you hope to gain when taking on [problem or goal within a market]?

Questions Based on Pricing

Pricing has always been (and will remain to be) a major part of the buying equation. Even customers in the luxury sector care about prices to some extent. No one wants to be ripped off; even businesses aim to save money. For example, in 2020, 69% of companies are expected to decrease ad spending.

Thus, it is ideal to have reasonably priced goods or services. But you won’t know what is considered a reasonable price until you conduct a questionnaire on your target market. Referring to general internet research alone will not suffice for this.

Here are a few examples of market research questions to ask about pricing.

What is a reasonable price range for ?

Are there any conditions in which you’d be willing to buy at a higher range?

What do you think is the ideal price for ?

How would you rate the prices within [industry, niche, or specific market]?

Is [price point] too high, low, or a fair ask for ?

Questions Based On Psychographic Traits

Psychographic questions help reveal the psychological characteristics within your target market, or your entire pool of respondents. This type of approach to market research questions involves the feelings, interests, and attitudes your customer base holds.

It allows brands to understand their customers at a more intimate level, specifically, their views on any topic. You can tailor these to focus on your product/service or the desired act of making purchases.

Here are a few examples of questions based on psychographic traits.

Which of the following is most important to you?

How do you like to spend your free time?

If you had more time, which of the following would you do?

If you had more time, what would you spend more money on?

How do you favor making purchases?

What interests you?

What draws you to one brand over another in the [niche, industry, space, etc.]?

A Reminder on Market Research Questions

All four of the question types covered in this article are critical to tap into the brains of your current and potential customers. What’s more empowering about these kinds of questions is that they can help you expand your target market and appeal to a much wider audience. They can inform both your marketing strategies, your content, and the innovation of your product/service itself.

But you must remember, these in-depth questions do NOT cover demographics. Instead, these questions are for those who already passed the screening question portion of the survey.

Screening questions, which determine the eligibility of a respondent to partake in a survey, answer demographic questions about the responders. While they are incredibly necessary to understand who your respondents are, they do not necessarily allow you to conclude your customers’ behaviors, needs, and attitudes (although a few of them might).

A strong survey should combine both sets of questions for a comprehensive market research assemblage.

If you’re looking for more great resources on using surveys to meet your business and marketing goals, check out the Pollfish Resource Center, or reach out to our 24/7 customer experience team for guidance and support.

Frequently asked questions

What is market research.

Market research is an important aspect of business strategy that focuses on gathering information about the target market.

How are surveys used in market research?

Surveys can be used to gather first-hand information while conducting market research. Surveys are an example of primary research and are tailored to gather information specific to your business.

What is the purpose of goals-based questions in a market research survey?

Goals-based questions help you understand what your customers want from a certain product or service. This type of question will help you understand your customers’ wants and needs better so you can create or improve a product to meet their needs.

What are psychographic questions?

Psychographic questions help a researcher understand consumers’ feelings, values, interests, and lifestyle choices. Understanding the psychographic traits of an audience can help a company market to them more effectively.

What are screening questions?

Screening questions are conducted before a survey is distributed. They help researchers identify the eligibility of individuals to take part in the survey. Typically, screening questions focus on demographics and the relationship to a company’s products or services.

Do you want to distribute your survey? Pollfish offers you access to millions of targeted consumers to get survey responses from $0.95 per complete. Launch your survey today.

Privacy Preference Center

Privacy preferences.

• Book Consultation
• SEO Services
• Google Ads Management
• SEO Services for Startups

85 Market Research Questions to Understand Your Audience

• by Sumant Vasan

Knowing your audience is the secret sauce of any successful business or campaign. But how do you crack the code and really get into the minds of your customers?

To truly understand your target audience, you need to ask the right questions. “85 Insightful Questions to Engage and Understand Your Target Audience” is an ultimate guide that provides you with the right set of questions that not only open doors to genuine insights but also help you create a real connection with your audience.

Whether you’re trying to refine your product, tailor your marketing strategy, or get a clearer picture of who’s on the other side of the screen, these questions are your ticket.

Get ready to dive deep, build trust, and unlock the valuable information within your audience’s answers.

Table of Contents

What are Market Research Questions?

Market research questions are crucial in gathering specific information and insights about a target market or audience. They are designed to analyze market trends and competitors and understand consumer preferences, behaviors, and opinions. You can use Quantitative Research Methods (surveys, polls, etc) or if you have a focus group, you can focus on a more qualitative structure.

Market Research to Collect Valuable Insights

Businesses can use market research questions to improve product creation, marketing, and sales decision-making. It’s important to pick questions that match the goals you have for your market research.

So, let’s get started. Below, you can find the breakdown of relevant categories and suggested questions. Feel free to customize your preference, but the market analysis questions below are a great start.

Consumer Insights:

Understanding your customers’ preferences, pain points, and purchase decisions is crucial. Armed with this knowledge, you can enhance what they like and address what they don’t like.

• What drives your decisions when you buy something?
• What changes or enhancements would you prefer in our products or services?
• Rate your satisfaction level with our customer support.
• Would you suggest our products to your friends or family?
• What aspects of our product or service do you value the most?
• How does our product/service fit into your daily lifestyle or routine?

Startup Questions:

In the world of startups, market research isn’t just helpful, it’s essential to your success. It is the key to validating your business vision, identifying your target audience, and anticipating potential opportunities and challenges. This research-focused feedback is crucial in shaping a product that truly reflects the voice of your audience and meets their needs.

• Which attributes do you prioritize when choosing a [product/service]?
• Are you open to adopting a novel [product/service] that better caters to your needs?
• What would primarily influence you to pick one product over its rivals?
• What is your budget for a [product/service] that fulfills your specific needs?
• Which channels do you prefer for receiving updates about new [products/services]?
• How do you like to purchase [products/services] – online, in a physical store, or via a mobile application?
• In what ways do you think technology could further solve your current challenges in [specific industry/problem area]?

If You’re Launching a New Product

When you are getting ready to introduce a new product to the market, it can feel like you’re putting together a puzzle. Conducting market research helps you bring all the pieces together, highlighting potential interest, clarifying desired features, and outlining the characteristics of your target customer base. This strategic approach is a precaution against releasing a product that may not appeal to your audience.

• How did you become aware of our latest product?
• Based on the details provided, what are your first thoughts about our new product?
• How excited are you to try our latest product?
• Which features or advantages of our new product did you like the most?
• Do you think the price of the new product is reasonable considering its value to you?
• Do you have any concerns about the new product?
• Would you like to participate in the new product’s test run or beta phase?
• If you were to describe our new product in three words, what would they be?

Feedback on Current Product Line:

If you need insight into your current product, make sure you ask the type of questions that really matter. Actionable data is what you’re looking for, not the fluff.

• On a scale from 1 to 5, how would you rate your happiness with our current product?
• What difficulties have you had while using our product?
• Are there any specific things you would like to see improved in our product?
• How does our product stand against competitors in terms of functionality and cost?
• If you could change one thing about our product, what would it be and why?

Psychographics To Help With Segmentation:

Using market research questions to split your market into different groups is like being an orchestra conductor. It allows you to adjust your marketing strategies, tailor your products to exactly what different groups want, and connect with each part of your audience in a way that really clicks. It’s all about ensuring each part of your marketing hits the right note with every group you’re trying to reach.

• What age bracket do you fall into?
• What is your gender identity?
• What’s your current place of residence?
• What level of education have you completed?
• Are you employed, running your own business, studying, or retired?
• What hobbies or pastimes do you enjoy?
• Which methods of communication do you prefer?
• How do you typically make your buying decisions?
• What primarily motivates you to buy a particular product/service?
• What media outlets do you frequently rely on for news and entertainment?
• In what ways do your cultural or local influences affect your purchasing decisions?

Competitor Analysis:

Understanding your competitors’ strengths, weaknesses, and tactics can provide valuable insights into market share and potential ways to differentiate yourself in the industry. Using survey tools to analyze your competition is similar to conducting intelligence gathering, which enables you to gain strategic insights from the viewpoints of customers and industry experts.

• Have you ever used products/services from our rivals?
• How would you assess our competitors’ products/services regarding quality?
• What do you consider to be the strong points of our competitors’ products/services?
• What influences your preference for our products/services over our competitors’?
• Are there any particular advantages or features of our competitors’ offerings that you find appealing?
• How do our products/services stack up against our competitors regarding overall value?
• How probable is it that you would suggest our products/services to others over our competitors’?
• What areas do you feel our competitors miss out on, and how could we capitalize on these gaps?

Brand Recognition and Recall:

Assessing brand awareness helps businesses gauge the success of their marketing initiatives and their brand’s visibility in the marketplace. Market research questions on brand awareness can show how well your brand is recognized and perceived.

• Were you previously familiar with our brand?
• How did you come to know about our brand?
• Which products of ours are you aware of?
• Have you ever used or bought any of our company’s products?
• What do you particularly like about our product?
• On a scale from 1 to 10, how likely are you to recommend our brand to someone you know?
• Can you recall any specific marketing or advertising campaign from our brand that left a lasting impression on you?

Price Perception and Expectations:

Determining an effective pricing strategy is crucial for attracting customers and maintaining profitability. Market research questions relating to pricing can provide insight into how customers perceive your prices compared to your competitors and what they value when considering price.

• What price range do you find is fair for our product?
• How does our pricing stack up against that of our market competitors?
• What considerations do you consider when judging a product’s price?
• Would you be ready to spend more on extra features or benefits?
• How does the perceived quality of our product/service influence your willingness to pay a specific price?

Evaluating New Concepts:

Performing concept testing before fully developing a product allows businesses to test the waters with new ideas, ensuring they align with customer needs and have a viable market before significant resources are invested.

• After reading the concept description for our new product/service, how interesting is it?
• Which parts of the concept mainly catch your interest or seem appealing?
• Based on the concept description, how likely are you to try or buy this new product/service?
• What would be your main reason for trying this new product/service over others?
• Is there anything lacking in the concept that would make it more appealing or valuable?
• Would you suggest any changes or improvements to the concept to make it more appealing?
• Based on the concept description, how much would you be ready to pay for this new product/service?
• In considering new products/services, how much do you value sustainability and eco-friendliness?

Digital Footprint and Online Interaction:

Everyone is online. No secret there. So it’s clearly important to get insight into how they found you, if they liked the website experience and design if the content matched up to their expectations, etc.

• How did you come across our brand or company online?
• How often do you encounter our brand or company during your internet browsing?
• Have you visited our website, and if so, what was your reason for the visit?
• Do you follow our brand or company on social media platforms, and if so, which ones?
• What is your impression of our brand or company’s social media presence (e.g., active, engaging, informative)?
• Do you find our website and online material (like blogs or articles) user-friendly and informative?
• What are your thoughts about the overall online experience with our website (considering aspects like speed, design, and functionality)?
• How do you think our online presence compares with that of our competitors?
• Are there any specific online platforms or websites where you’d like to see more activity from our brand or company?
• What type of online content from our brand would make you more engaged or likely to interact (e.g., tutorials, customer stories, live Q&As)?

Understanding Company Image and Reputation:

Knowing how they view your brand is one of the most impactful lines of questioning. If they don’t trust you or feel the authenticity, you lose them as customers. Ask them, point blank, what do you think about our positioning. Do we come across as worthy of earning your business? Get real here, it matters.

• How would you describe your overall view of our company?
• In your opinion, what are the strengths of our company?
• Based on your current view, how likely are you to recommend our company to others?
• Are there particular elements of our company’s reputation that stand out?
• What are your thoughts on how our company handles customer feedback and issues?
• Have any specific events or experiences significantly shaped your view of our company?
• Can you share a particular experience, either positive or negative, that has significantly shaped your perception of our company?
• How do you view our company’s commitment to social and environmental responsibilities?

This set of questions is highly flexible, so you can tailor them to fit your market research requirements and your audience’s unique features. With the help of this toolkit, you have all the necessary resources to discover significant insights that can help you advance your business strategies.

How to Make the Most of Your Research Questions

A solid market research process is crucial because it’s the backbone of informed decision-making in your business. It’s like having a roadmap in unknown territory, guiding you to understand your customers, competitors, and the market.

To make the most of it, be clear about what you want to learn, and choose methods and questions that get you those answers. It’s not just about gathering data, but analyzing it to spot trends, understand behaviors, and predict future moves.

Remember, the goal is to convert this knowledge into actionable strategies that boost your business, not just to collect information. So, every step in your market research should be intentional, aiming to provide insights that directly support your business objectives.

Related posts:

29 Market Research Questions to Improve Your Marketing Strategy

• Post author: Daniel
• Reading time: 5 mins read
• Post last modified: June 10, 2022

One of the best ways to learn about your market and customers is by asking questions. When you ask the right market research questions, you can identify opportunities to improve your marketing strategy , operations, and industry.

Page Contents

You can gain insights that help you:

• Attract your target audience
• Stand out from competitors
• Improve your products and services
• Better serve your customers

To ask the best questions, it helps to break down your market research questions into the following categories:

• Market research questions
• Questions to ask your target market
• Questions to ask your customers
• Questions for competitive analysis

Some market research questions will require research to find the answers. For example, you may want to know, “How do our competitors drive traffic?” Other questions you can directly ask your customers. For those questions, you can survey or interview customers to find answers and insights.

Here are some examples of questions you can ask for each type of marketing research .

Market Research Questions

General market research aims to help you learn about your market size and potential to connect with customers.

Great qualitative market research questions include:

• How big is our potential market?
• Will this market grow or shrink in the future?
• What other products and services are similar to ours?
• Who are our top competitors?
• What market share do our competitors own?
• What share is available for us to own/take?

To find answers to these questions, use  sites for market research  that help you find information on geographic locations, industry competitors, and economic conditions.

Market Research Questions to Ask Your Target Market

Questions to ask your target market include demographic market research questions that help you get to know who your customers are.

Here are some examples:

• What is your age?
• What is your gender?
• What is your education level?
• Where do you live?
• What is your profession?
• What is your household income?
• What is your household size?

These questions can go deeper and uncover psychographic segmentation details that help you learn about the interests, attitudes, and needs of your customers.

Examples of these questions include:

• What are your hobbies and interests?
• Where do you spend your free time?
• What are your biggest challenges?
• What are your primary goals?
• What is most important to you?
• Where do you go for information?
• How do you like to make purchases?

To gather these details, you can survey or interview your customers.

Market Research Questions to Ask Customers

Existing customers can provide great insight into your business, products, and services.

Market research questions to ask clients or customers include:

• How likely are you to recommend our brand to a friend?
• How long have you been a customer?
• What problem does [product/service] solve for you?
• How does the [product/service] fit into your daily workflow?
• How well does [product/service] meet your needs?
• What do you wish the [product/service] had that it currently does not?
• What do you like [most/least] about [product/service]?
• What made you choose us over a competitor?
• How would you rate your last experience with us?

You can gather this information through audience analysis, in-person interviews with your customers, or online customer surveys.

Pro Tip:  It’s important to collect information from customers who are advocates of your product/service, but also those who did not have an agreeable experience. Asking infrequent or lost customers for their feedback is an excellent way to surface gaps in your product/service and identify opportunities for improvement.

Market Research Questions for Competitive Analysis

Once you assess your industry and customers, start asking market research questions about your competitors. Some questions to ask include:

• How is our brand doing compared to our competitors?
• How do our competitors effectively attract customers?
• How much website traffic do our competitors receive?
• Which keywords are driving traffic to our competitors?
• What sources are driving traffic to our competitors?
• How many inbound links do our competitors have?
• What type of content is performing well for our competitors?

For tips on how to conduct a thorough  competitive analysis , download our free competitive analysis template.

Get Better Answers to Your Market Research Questions

Asking the right market research questions helps you uncover insights to improve customer satisfaction, business operations, and  marketing strategies . But asking questions is only half the process. You also need to make sure you’re collecting the most accurate and authentic answers.

Use the market research questions in this post to direct your inquiries to your business, customers, and industry.

Source: blog.alexa.com

You Might Also Like

Perceptual Mapping: The Benefit of Visualizing Your Competitive Landscape

The 10+ Best Sites for Market Research

5 Competitive Analysis Frameworks Explained with Visuals

Order a complete seo audit:.

• Name/Company: *
• Your email *
• Website url: *
• Select deliverable: * SEO Audit [Small & Medium] SEO Audit [Large]
• Get a 15% discount if you add a SEO strategy or a 25% discount if you also add the CI service .
• Only the SEO audit
• Add SEO Strategy [15% off]
• Add SEO Strategy & CI Analysis [25% off]
• Pay with: * Stripe PayPal
• Total (one time): $0.00
• Email This field is for validation purposes and should be left unchanged.

Order a Complete SEO Strategy:

• Get a 15% discount if you add bundle it with an SEO audit .
• Select Deliverable: * SEO Strategy SEO Strategy + Audit [Small & Medium] SEO Strategy + Audit [Large]
• Name This field is for validation purposes and should be left unchanged.

“Daniel goes above and beyond your expectations. The communication was excellent; he is friendly and great to work with. Can’t do anything else than give him a top score and my best recommendations!” Read more testimonials .

Order a CI Website Analysis or CI Program:

• Select Deliverable: * Digital Business Competitive Analysis Competitive Analysis + Ongoing Monitoring

What we include in the Complete SEO Audit

Here is what we include in the complete SEO audit so you can discover how to unleash its true potential and prepare it for Google SGE & AI:

• A manual check of over 100 SEO factors done by a certified SEO specialist [GSC, SGE, AI included];
• A PDF document of 25-30 pages that covers all the findings and importance along with advice on fixing the issues identified;
• 3-4 pages summary of findings that outline the current status of your website SEO and what should be addressed for improvements;
• A 4-page document describing the status of the preparation of your website for Google SGE and AI.
• Technical sheets and documents, crawls, exports, and data that support our audit findings;
• Follow-up call(s) of up to 2 hours (4 hours for the Large plan) on Zoom to discuss and explain all the audit findings and your next steps;
• Four (six for Large plan) weeks of email support from our SEO experts after delivery (up to 4(6) emails answered);
• The option to work with us for fixes on predictable  ongoing SEO plans ;
• Before starting, we need access to your Google Search Console and Google Analytics accounts.
• We will deliver the SEO Audit to you within one month of ordering;

Choose a plan to suit your SEO needs:

• Select SEO Plan: * Ongoing SEO Care Plan Ongoing SEO Performance Plan Ongoing SEO Growth Plan
• Total (monthly): $0.00

“Daniel goes above and beyond your expectations. The communication was excellent, he is friendly and great to work with. Can’t do anything else than give him a top score and my best recommendations!” Read more testimonials .

By continuing to use this website, you consent to the use of cookies in accordance with our Cookie Policy.

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

• Solutions Industries Gaming Automotive Sports and events Education Government Travel & Hospitality Financial Services Healthcare Cannabis Technology Use Case NPS+ Communities Audience Contactless surveys Mobile LivePolls Member Experience GDPR Positive People Science 360 Feedback Surveys
• Resources Blog eBooks Survey Templates Case Studies Training Help center

Home Market Research

Market Research Questions: Types and how to best use them

What is Market Research?

Market research is the process of collecting, analyzing and examining information about a market, related to a product or service that is offered by a certain brand.

Market research has evolved through the years, the internet has now replaced the conventional face-to-face interaction or personal interviews to gather first-hand information. They are primarily categorized into two types:  Quantitative Market Research and Qualitative Market Research . Today, the best way to conduct market research is through surveys or questionnaires: ask the right market research questions!

LEARN ABOUT: Market research vs marketing research

Accurate information is the pillar of any successful business because it provides the perspective of new and existing customers and business competition. It helps business or organization owners to determine if the resources and financial investments that they are aligning with a new product or service will reap any profitability in future or not.

LEARN ABOUT: Open-Ended Questions

Fundamental Levels of Measurement in Market Research Questions

There are 4 basic fundamental measurement scales, n ominal, ordinal, interval and ratio ; that help arrange data collected in market research for statistical data analysis purposes. These are used to capture data in the form of surveys and questionnaires, where each being a multiple-choice question . In statistical analysis, distinguishing between categorical data and numerical data is essential, as categorical data involves distinct categories or labels, while numerical data consists of measurable quantities.

LEARN ABOUT: Level of Analysis

Each scale is an incremental level of measurement, meaning, each scale fulfills the function of the previous scale and all survey question scales such as Likert, Semantic Differential, Dichotomous questions etc, are the derivation of this these 4 fundamental levels of variable measurement. Before we discuss all four levels of measurement scales in details, with examples, let’s have a quick brief look at what these scales represent.

• Nominal Scale – 1st Level of Measurement

Nominal Scale , also called the categorical variable scale, is defined as a scale used for labeling variables into distinct classifications and doesn’t involve a quantitative value or order. The options are assigned a number that can be decided by the researcher but changing the order of the options doesn’t impact the scale as the variables are independent of the options. Nominal data can never be quantified but the data analysis can be conducted by asking an open-ended question and coding the subsequent responses or having pre-coded multiple choice question types . Examples of a nominal scale are gender, place of work or residence, preference of pizza toppings, etc.

• Ordinal Scale – 2nd Level of Measurement

Ordinal Scale is the 2nd level of measurement that reports the ranking and ordering of the data without actually establishing the degree of variation between them. Examples of the ordinal scale satisfaction, happiness and grades. This makes the Likert Scale a perfect example of an ordinal scale as it provides options on the basis of lowest to highest but doesn’t provide quantifiable difference between two options. Ordinal scale data is generally represented in a tabular form to allow for easy further market research analysis.

Learn more: Nominal Scale vs Ordinal Scale

• Interval Scale – 3rd Level of Measurement

The Interval Scale is defined as a numerical scale where the order of the variables is known as well as the interval between these variables. In other words, the variables are measured in actuals and not as a relative manner, where the presence of zero is arbitrary. For example, temperature, income, IQ etc. can be defined by the interval scale. Net Promoter Score, Semantic Differential Scale, Bipolar Matrix Table etc. are the most-used interval scale examples. The interval scale data can be added or subtracted but cannot be divided or multiplied.  Since interval data is a quantitative analysis data type, multiple data analysis methods like SWOT analysis , TURF analysis , conjoint analysis and trend analysis can be conducted.

• Ratio Scale – 4th Level of Measurement

The Ratio Scale is the penultimate measurement scale that has the features of all the above 3 scales along with the presence of an absolute zero. It is calculated by assuming that the variables have an option for zero, the difference between the two variables is the same and there is a specific order between the options. Some examples of ratio scale are weight, height, time etc. where there is no presence of a negative value. The ratio data scale values can be added, subtracted, divided and multiplied and a unique statistical analysis is possible for ratio data.

Learn more: Interval Scale vs Ratio Scale

Types of Market Research Questions: 10 Market Research Question Types with Examples

The fundamental of market research is asking the right questions to collect the right data, be it qualitative or quantitative data . Qualitative data can be collected by focus groups, interviews, longitudinal studies and more. Quantitative data can be collected through surveys, questionnaires and interviews . Some of the most widely used question types are:

Market Research Questions: Open-ended or Close-ended?

A good conversation involves asking the right questions to know more. Similarly, in market research, there is a lot of value in asking questions to get the most appropriate information.

So what are the types of question should one ask to get an apt response: open-ended questions or closed ended questions ?

Both these market research question types have their fair share of advantage, but in this section, we shall focus more on open ended questions.  

Deploying a questionnaire or face to face interviews open ended questions generate better responses. This market research question type lets the respondent answer the question in depth and gives them the liberty to respond without inhibition, contrary to closed ended questions where the respondents to need to choose from the already existing answer options.

However, it is often seen that closed-ended and open-ended questions are used in conjunction. It’s easier to answer a Yes/No question, but if it is followed by an open ended question then you’ll  often get better participation from your respondents.

Closed-Ended vs Open- Ended Market Research Questions

How to best use the Market Research Questions?

It’s certainly not an easy task to know what your customers think. But you will be able to better connect with them through the right market research questions. To make sure you’re getting the most responses to your market research questions follow these tips.

1. Understand your target audience: You need you know why you are reaching out to your respondents. Knowing about their demographics will help you frame your market research questions better.

2. Don’t bug your respondents: Make sure you send survey or questionnaires to your respondents at intervals. Don’t  bug your respondents to a point where they stop responding to you.

3. It’s all about great timing: Make sure your surveys are sensibly timed and has appropriate questions, for example, it’s always good to send a feedback survey to a customer after he has made a purchase with you so that he/she is able to give a better feedback about their experience.

4. Make your respondents feel valuable: Let your respondents know, their responses to the research questions are valuable and will be put to practice and that their suggestions will be implemented to improve the services or the product.

LEARN ABOUT: Product Survey Questions

MORE LIKE THIS

Zero Correlation: Definition, Examples + How to Determine It

Jul 1, 2024

When You Have Something Important to Say, You want to Shout it From the Rooftops

Jun 28, 2024

The Item I Failed to Leave Behind — Tuesday CX Thoughts

Jun 25, 2024

Feedback Loop: What It Is, Types & How It Works?

Jun 21, 2024

Other categories

• Academic Research
• Artificial Intelligence
• Assessments
• Brand Awareness
• Case Studies
• Communities
• Consumer Insights
• Customer effort score
• Customer Engagement
• Customer Experience
• Customer Loyalty
• Customer Research
• Customer Satisfaction
• Employee Benefits
• Employee Engagement
• Employee Retention
• Friday Five
• General Data Protection Regulation
• Insights Hub
• Life@QuestionPro
• Market Research
• Mobile diaries
• Mobile Surveys
• New Features
• Online Communities
• Question Types
• Questionnaire
• QuestionPro Products
• Release Notes
• Research Tools and Apps
• Revenue at Risk
• Survey Templates
• Training Tips
• Tuesday CX Thoughts (TCXT)
• Uncategorized
• Video Learning Series
• What’s Coming Up
• Workforce Intelligence

Zonka Feedback gets smarter with AI: Build smarter surveys, unlock deeper insights ➝

Trusted Security

• Measure and track experiences across all customer touchpoints
• Track crucial metrics to improve Customer Experience
• Restaurants
• Financial Services
• Customer Experience
• Product Experience
• Website Feedback
• Helpdesk Feedback
• Patient Feedback
• Employee Engagement
• Market Research
• Lead Capture

• Schedule a Demo --> Schedule a Demo
• Try for Free

• Schedule a Demo

Book a Demo with Zonka Feedback

Not you? Click here to reset

Get Started for Free

• Your account is being created in the US Data Server EU Data Server Two
• Latest Posts
• Surveys & Feedback
• News, Events & Updates
• Metrics & Analytics
• Artificial Intelligence
• Digital & Product Experience

80+ Market Research Questions to Ask your Target Audiences

To remain competitive in the current business landscape, keeping up with the ever-changing market trends is not just an option but an absolute necessity. By adapting your customer interaction points and developing strategies that not only attract but also convert potential leads into loyal customers, you can solidify your standing in the industry.

But how can you achieve all of this effectively and efficiently? The answer lies in the power of market research and, more importantly, in asking the right survey questions .

Build & Send your Market Research Surveys🔥

Choose from over 30+ question types, add your own themes and create amazing surveys that people love answering.

Market research can navigate your company by helping you understand your audiences and customers better, identify shifting trends, and maintain that sought-after competitive advantage. In this blog, we'll throw light on the most compelling market research questions and best practices that can unveil valuable insights and give you a strategic edge in the ever-evolving market. 

Table of Content

What are market research questions.

• For Customers
• For Startups
• For New Product Launch
• For Existing Product
• To Segment Target Market
• For Competitive Analysis
• To Check Brand Awareness
• Pricing Analysis
• For Concept Testing
• To Understand Online Visibility
• For Reputation Management
• For Messaging & Advertising

Best Practices for Market Research Questions

Why do market research, top 10 market research questions.

Market research questions are designed to gather specific information and insights about a target market or audience. These questions play a crucial role in conducting systematic research to understand consumer preferences, behaviors, and opinions, as well as to analyze market trends and competitors.

You can use a market research survey template offered by Zonka Feedback to make informed decisions, identify opportunities, and develop effective strategies to stay competitive. If you are looking for a ready-to-use market research survey template, here is one that can gain you customer insights, consequently increasing customer satisfaction .

Market Research Questions to Gather Insights

Market research questions can help to optimize the decision-making process for businesses across various stages, from product development to marketing and sales. However, choosing the right market research questions should be based on what you want to achieve through market research. You can leverage microsurveys like the Net Promoter Score or Customer Satisfaction Surveys to conduct market research or create a comprehensive survey to gauge various aspects. Let us look at market research questions aimed at different user personas and business goals. 

1. For Customers

Understanding customers' preferences, concerns, and buying behavior are vital for your business to provide exceptional customer experiences . With this knowledge, you can focus on enhancing the aspects your customers love while working on areas that need improvement. 

What factors influence your purchasing decisions the most? What improvements would you like to see in our offerings?  How satisfied are you with our customer service?  Would you recommend our product to others? Which specific features of our product/service do you find most valuable?

2. For Startups

For startups, market research is crucial to validate business ideas , identify target markets, and uncover potential opportunities and challenges. Seeking product feedback for your startup in the early stages of brand development can be especially valuable in refining your beta version of the product and can help to create a product that truly resonates with your target audience.

What challenges do you currently face in [relevant industry/problem area]? What features are most important to you when considering a [product/service]? Would you be willing to try a new [product/service] if it addresses your needs more effectively? What would be your primary reason for choosing a product over competitors? How much would you be willing to pay for a product/service that meets your requirements? What are your preferred communication channels to learn about new products/services? How do you prefer to purchase product/service - online, in-store, or through a mobile app?

There are certain questions that you should be establishing as a startup before entering the market. Consider these market research questions to refine your startup's value proposition and make well-informed decisions to position your venture for success.

What are the total addressable market (tam), serviceable available market (sam), and share of the market (som)? What is your USP? Are you planning to refine your beta version of the product with beta testing survey ?  How would you onboard new customers? What are the potential barriers or challenges you may face in acquiring customers? How does the pricing of your product/service compare to the perceived value among customers?

3. For New Product Launch

Market research for new products helps locate potential demand, get product feature requests , and identify target markets, reducing the risk of launching a product with limited appeal. Consider these market research questions for new products that you can ask your customers.

How did you first hear about our new product? What is your initial impression of the new product based on the information provided? How interested are you in trying out this new product? What features or benefits of the new product appeal to you the most? How does the pricing of the new product align with your expectations and perceived value? Are there any specific concerns you have about the new product? Would you be open to participating in a trial or beta testing for the new product?

4. For Existing Product

For companies that thrive on product-led growth , customer feedback on the existing product is the key to success. Market research for existing products helps in understanding changing customer needs and market trends, ensuring that the product remains relevant and competitive. 

On a scale of 1-5, how satisfied are you with our current product? What challenges are you facing in using our product? What additional features or improvements would you like to see in our product? How does our product compare to competitors in terms of performance and pricing?

5. To Segment Target Market

By asking market research questions, you can segment your target market based on various demographics, interests, behaviors, and preferences. Through user segmentation , you can create more targeted marketing campaigns, tailor products/services to specific needs, and effectively reach and engage your diverse user base. Here are some of the demographic survey questions that you can ask to segment your target market. 

What is your age group?  What is your gender? Where do you reside? What is your education level? Are you employed, self-employed, a student, or retired? What are your hobbies or interests?  What are your preferred modes of communication? How do you prefer to make purchase decisions? What are your primary reasons for purchasing a specific product/service? Which media channels do you use most frequently for information and entertainment? 

6. For Competitive Analysis

Understanding competitors' strengths, weaknesses, and strategies can help you dig deeper into market share and identify opportunities to stay ahead in the market. You can leverage survey collection software to perform competitive analysis and gather valuable analytics for marketing and conversion rate optimization. Consider these market research questions to ask your customers about competitors. Consider these market research questions to ask your customers about competitors.

Have you ever used products/services from our competitors? How would you rate the products/services of our competitors in terms of quality? What do you perceive as the main strengths of our competitors' offerings? What factors influence your decision to choose our products/services over those of our competitors? Are there any specific features or benefits offered by our competitors that you find appealing? How do you think our products/services compare to those of our competitors in terms of overall value? How likely are you to recommend our products/services over those of our competitors to others?

7. To Check Brand Awareness

Assessing brand awareness helps businesses measure the effectiveness of their marketing efforts and brand visibility in the market. Market research questions for checking brand awareness can include:

Have you heard of our brand before? How did you first learn about our brand? Which of the following products do you associate with our company?  Have you ever used or purchased any products from our company? What feature do you like the most about our product? On a scale of 1 to 10, how likely would you recommend our brand to a friend or colleague?

8. Pricing Analysis

Determining the right pricing strategy is crucial to attracting customers while ensuring profitability. Market research questions for pricing analysis can include:

What price range do you consider reasonable for our product? How does our current pricing compare to competitors in the market? What factors do you consider when evaluating the pricing of a product? Would you be willing to pay more for additional features or benefits?

9. For Concept Testing

Before launching the final product, performing concept testing allows businesses to evaluate the viability of new ideas before investing resources in full-scale development. By doing so, you can tailor your product according to customer needs and assess the overall feasibility of your new product idea.

Please read the description of the new product/service concept carefully. How appealing does this concept sound to you? What specific aspects of the concept do you find most appealing or interesting? How likely are you to consider using or purchasing this new product/service based on the concept description? What would be your primary reason for choosing this new product/service over similar offerings in the market? Is there anything missing in the concept that you believe would make it more appealing or valuable? Is there anything you would change or improve in the concept to make it more appealing to you? How much would you be willing to pay for this new product/service, based on the concept description?

10. To Understand Online Visibility

In the digital age, online visibility is crucial to reach their target audience effectively. Whether you want to drive in-store customers or online, the route is by following online visibility. Conducting an online survey is the easiest way to understand this. Consider these market research questions to understand online visibility.

How did you discover our brand/company online? How frequently do you come across our brand/company while browsing the internet? Have you visited our website? If yes, what was your purpose for visiting? Are you following our brand/company on social media? If yes, which platforms? How do you perceive our brand/company's presence on social media? (e.g., active, engaging, informative) Do you find our website and online content (blogs, articles, etc.) easy to navigate and informative? What do you think about the overall user experience on our website? (e.g., website speed, design, functionality) How does our online presence compare to that of our competitors? Are there any specific online platforms or websites where you would like to see our brand/company more active?

11. For Reputation Management

Monitoring and managing your brand's reputation is essential for improving customer loyalty and business revenue. A major part of market research includes knowing what customers think and speak about your business. Including customer feedback and trends in your analysis will allow for more accurate predictions in your revenue forecasting software . Here are some market research questions for reputation management.

How would you describe your overall perception of our company? What do you think is our company's strengths? How likely are you to recommend our company to others based on your perception? Are there any specific aspects of our company's reputation that stand out to you? How do you feel about our company's responsiveness to customer feedback and concerns? Are there any specific incidents or experiences that have influenced your perception of our company?

12. For Messaging & Advertising

Crafting compelling messaging and advertising campaigns that resonate with the target audience is crucial for driving engagement and conversions. Your advertising should be in sync with your business goals and brand identity to communicate your unique value proposition. 

Have you come across any of our recent advertising or marketing campaigns? If yes, please specify where you saw or heard them. How well do you think our advertising aligns with your needs and preferences as a customer? Are there any specific advertising channels or platforms where you believe our brand should have a stronger presence? How likely are you to take action (e.g., visit our website, make a purchase) after seeing our advertising? Which specific elements of our advertising (e.g., visuals, slogans, offers) do you find most memorable? Have you ever shared or engaged with our advertising content on social media? Do you find our advertising to be informative and educational about our products/services?

Before you start framing your market research, it is essential to follow these best practices to ensure the effectiveness and reliability of your data:

Things to Do

• Decide your Goals : Clearly define the objectives of your market research. Determine what specific insights you aim to gather and how they will support your business decisions.
• Segment your Audience : Understand that different customer segments may have distinct needs and preferences. Tailor your survey questions to target specific groups, allowing for a more focused analysis.
• Choose the Right Survey Question Type : Select appropriate question formats based on your goals. Use a mix of multiple-choice questions, open-ended questions , Likert scales , and rating scales to capture both quantitative and qualitative data.
• Incentivize your Survey : Offer incentives to encourage participation and increase the response rate. It could be in the form of discounts, gift cards, or entry into a prize draw.

Things to Avoid

• Avoid Double-Barreled Questions : Double-barreled questions combine two or more issues into one question, making it challenging for respondents to provide clear and accurate answers. Keep your questions focused on one topic at a time.
• Avoid Leading Questions : Leading questions are worded in a way that influences or biases respondents' answers. Aim for neutrality and objectivity in your questions to obtain unbiased data.
• Avoid Too Many Questions : Lengthy surveys can lead to respondent fatigue, resulting in incomplete or rushed answers. Keep your survey concise and relevant, ensuring it can be completed within a reasonable timeframe.

All the popular companies in the market currently, whether it is Apple, Zappos, or Spotify, rely heavily on market research. Let us look at the reasons why you must consider market research to drive growth.

• Identifying Market Opportunities : Market research helps identify emerging trends, unmet needs, and untapped market segments, providing valuable opportunities for businesses to expand and innovate.
• Testing Product Concepts : Before launching a new product or service, market research can be used to gauge customer interest and receive feedback on potential concepts, get product idea validation , and reduce the risk of product failure.
• Evaluating Marketing Campaigns : Market research allows businesses to assess the effectiveness of their marketing efforts, whether it is driving NPS campaigns or launching new advertising initiatives. It helps to refine messaging, targeting, and channels for better results.
• Measuring Customer Satisfaction : Understanding customer satisfaction levels and identifying areas for improvement is crucial for retaining customers and building brand loyalty.

Now that you know the power of market research and how it can improve your offering and enhance customer experience, let us quickly recall the top 10 market research questions that can drive your business forward.

• What are the primary factors influencing your purchasing decisions?
• How satisfied are you with our product?
• What are the most desirable features you look for in a product?
• How did you first hear about our brand/product/service?
• What do you consider a fair price for our product?
• What improvements or additions would you like to see in our offerings?
• On a scale of 1-5, how likely are you to recommend our brand to others?
• What are the main challenges you face when using our product?
• How well do you think our product compares to competitors in the market?
• Which aspects of our advertising or marketing message do you find most compelling?

From identifying market opportunities and testing product concepts to measuring customer satisfaction and tracking brand awareness, market research questions play a vital role in allowing you to adapt and innovate in a rapidly changing marketplace. By listening to your customers and gaining valuable feedback through market research, you can refine your products and marketing efforts to better meet customer expectations .

For creating a market research survey, it is important that you leverage an omnichannel survey software that enables you to create impactful surveys, share them across multiple channels with your target customers, and gather and analyze valuable feedback using reporting features.

Zonka Feedback is one such powerful market research software that can help you do all of that, along with offering survey logic & branching , segmenting your customers, measuring trends, and closing the feedback loop .

You can sign up for a 14 -day free trial to create effective market research surveys and see how it works for you. 

Published on Jul 25, 2023. Updated on Apr 30, 2024.

Written by Kanika

Try zonka feedback today.

Customer Experience and Product Feedback Software.

• Name, Link 1
• Name, Link 2
• Name, Link 3
• Name, Link 4
• Name, Link 5
• Name, Link 6
• Name, Link 7
• Name, Link 8
• Name, Link 9
• Name, Link 10

Get Started with Zonka Feedback

Sign up now for free and start taking customer feedback in minutes!

Related Posts

Top HIPAA-Compliant Survey Tools for 2024: Secure Your Patient Data

by Nikhil Dawer June 24, 2024

Best Voice of Customer Tools in 2024: Overview, Rating & Free Trial

by Kanika June 10, 2024

Importance Of Feedback In The Solution-As-A-Service (Solaas) Industry

by Crispino Santamaria June 06, 2024

80 Hotel Survey Questions to Gauge Customer Satisfaction [+Template]

by Nikhil Dawer May 27, 2024

Likert Scale Surveys: Use Cases, Questions, Best Practices [+Template]

by Nikhil Dawer May 24, 2024

Smiley Face Surveys: Use Emojis😍😢to measure Customer Sentiment

by Nikhil Dawer May 22, 2024

From Feedback to Forecast: Online Blueprint to Using Market Research for Business Growth

by Nikhil Dawer May 20, 2024

200+ Mental Health Survey Questions: Examples & Best Practices

by Kanika May 17, 2024

13 Best Form Builder Software Tools in 2024

by Nikhil Dawer May 15, 2024

Collecting Feedback Using 1 to 5 Rating Scale Surveys

by Kanika May 13, 2024

Get the latest from Zonka Feedback

Get the best of Feedback and CX News, Tips, and Tricks straight to your inbox.

Get Started Today

Sign up for a 15-day free trial or schedule a demo to know more.

Try for Free Schedule a Demo

Create your Free Account & start taking feedback in minutes!

Quick to setup. Highly engaging. 50% more responses. Transform customer experiences.

14 Days. Full Access. No credit card required.

You're just a few steps away! Please share the following details.

Download your free nps ebook, cx platform.

• Customer Feedback
• Product Feedback Tool
• Survey Software
• Enterprise Feedback Management
• Offline Survey App
• Surveys for Salesforce
• Surveys for Hubspot
• Surveys for Zendesk
• Surveys for Intercom
• NPS Surveys
• Customer Satisfaction Score
• Customer Effort Score
• Website Surveys
• Email Surveys
• SMS Surveys
• Feedback Button
• Mobile Forms
• iPad Surveys
• Android Surveys
• Kiosk Surveys

POPULAR TEMPLATES

• Survey Templates
• Feedback Form Templates
• Healthcare Survey Templates
• Customer Satisfaction Survey Template
• Smiley Survey Template
• 1 to 10 Rating Scale Template
• Restaurant Survey Forms
• Hotel Feedback Form
• Student Satisfaction Survey Template
• Voice of Customer Survey Template
• Website Feedback Form Template
• Blog & Insights
• Product Help
• Product Updates
• Help Center
• API Documentation
• Dev Documentation
• Net Promoter Score
• Customer Satisfaction
• Product Feedback
• NPS Calculator
• Customer Stories

Powerful Customer Surveys & Product Feedback Platform

• Privacy Policy
• Terms of Use
• Cookies Policy

Copyright © 2024 - Zonka Technologies Pvt. Ltd.

Net Promoter, Net Promoter Score, and NPS are trademarks of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld.

What market research questions should you be asking: With examples

• October 19, 2019
• 10 min read
• Market research

Primary market research question examples

Secondary market research question examples, first things first: who is our customer, good market research questions: what is important to ask, 1. who is our ideal customer, 2. what is the biggest challenge for customers, 3. what do customers really want, 4. what sets us apart from the competition, 5. what price is right, write the best market research questions with surveyplanet.

Before launching your next product or business, it’s important to take time to complete some marketing research, which will provide information about what competitors are doing and if your ideas are profitable.

An essential part of market research is refining the target audience, which will help in creating an effective marketing strategy. While there are many different market research components, the most important is asking the right questions.

SurveyPlanet is here to help with examples of good market research questions. Read through our market research 101 guides and discover the best market research questions to ask your target market.

Primary market research

Before diving into specifics, it’s important to grasp the main concepts of market research. There are two basic categories: primary research and secondary research.

Primary research is gathering firsthand information about a market, customers, and competition. It is generally completed with focus groups, interviews, and online surveys that provide information about specific challenges customers face. Such research also helps gather details about the brand awareness of a company. Conducting primary research is a way to establish buyer personas and segment the market.

Here are some examples of primary market research questions that will gather valuable insights about a target market:

Demographics and background

• What is your age range?
• What is your gender?
• What is your educational background?
• What is your household income level?
• What is your occupation?

Product or service perception

• What is your familiarity with our product/service?
• What do you perceive as the primary benefits of our product/service?
• How would you rate the quality of our product/service?
• How likely are you to recommend our product/service to others?

Consumer behavior

• How frequently do you purchase similar products/services?
• What factors influence your purchasing decisions?
• Where do you typically do research or seek information before making a purchase?
• What channels do you use for purchasing products/services?

Brand awareness and perception

• Are you familiar with our brand?
• How would you describe our brand personality?
• What do you associate our brand with?
• How likely are you to consider our brand over competitors?

Pricing and value perception

• How do you perceive the value-for-price equation of our product/service?
• What price range would you consider reasonable for our product/service?
• Would you be willing to pay a premium for additional features or benefits?

Customer satisfaction and feedback

• How satisfied are you with our product/service?
• What improvements or changes would you like to see in our product/service?
• How likely are you to repurchase our product/service in the future?
• Would you recommend our product/service to others? Why or why not?

Market trends and competitor analysis

• Are there any emerging trends or innovations in the market that you find appealing?
• How familiar are you with our competitors?
• What do you perceive as the strengths and weaknesses of our competitors’ offerings?
• What factors would make you switch from our product/service to a competitor?

Remember to tailor questions to your specific industry, target audience, and research objectives. The answers to these questions will provide valuable insights about the market, customer preferences, and areas for improvement, enabling informed decision-making and refined marketing strategies.

Secondary market research

The main purpose of secondary market research is to analyze data that is already published and draw conclusions from it. This involves analyzing public records, industry content, market statistics, and sales data. Secondary research is especially helpful for analyzing competitors. Most secondary research is done using a combination of public, commercial, or internal sources.

Public sources include government statistics such as data from the U.S. Bureau of Labor Statistics and the U.S. Census Bureau. Commercial sources usually come in the form of a market report compiled by research agencies. Finally, internal sources include customer retention rates, average revenue, and data from both old and new accounts. Together, all this data may help determine what buyers want right now and help develop market research questions to ask clients.

Here are some examples of secondary market research questions that can help guide the search for existing information and data.

Market size and growth

• What is the current market size for [industry or product category]?
• What is the projected growth rate for the [industry or product category] in the next few years?
• Are there any specific regions or demographics driving the market growth?

Target market segmentation

• How is the target market segmented within the [industry or product category]?
• What are the key characteristics or demographics of each market segment?
• Are there any emerging or untapped market segments within the industry?

Competitive landscape

• Who are the major competitors in the [industry or product category]?
• What is their market share and positioning?
• What are their strengths and weaknesses compared to each other?

Consumer behavior and preferences

• What are the current consumer trends and preferences within the [industry or product category]?
• What factors influence consumer purchasing decisions?
• Are there any notable shifts in consumer behavior in recent years?

Industry regulations and compliance

• What are the regulatory requirements and compliance standards for the [industry or product category]?
• Are there any upcoming regulatory changes or potential impacts on the industry?
• How do these regulations affect product development and marketing strategies?

Pricing and revenue models

• What are the typical pricing structures and models within the [industry or product category]?
• Are there any pricing trends or changes affecting the industry?
• What are the revenue models commonly used by businesses in the industry?

Technological innovations and disruptions

• What are the emerging technologies or innovations relevant to the [industry or product category]?
• Are there any disruptive technologies that could impact the industry?
• How are businesses adopting or integrating technology within the industry?

Consumer feedback and reviews

• What are consumers saying about products or services within the [industry or product category]?
• Are there any common issues or concerns raised by consumers?
• What are the key factors influencing consumer satisfaction or dissatisfaction?

Marketing and advertising strategies

• What are the prevailing marketing and advertising strategies used in the [industry or product category]?
• Are there any successful or noteworthy campaigns that have garnered attention?
• How are businesses utilizing digital platforms and social media for marketing purposes?

Industry publications and reports

• What industry publications or reports provide insights into the [industry or product category]?
• Are there any reputable market research firms or organizations that publish relevant data?
• What recent studies or reports offer valuable information about the industry?

Remember to search for reliable and up-to-date sources of information like industry reports, market research publications, government data, and reputable news outlets. Secondary market research can provide a foundation of knowledge about the industry, market trends, and consumer behavior, allowing you to make informed decisions and develop effective strategies.

Once you have collected primary market research, it’s time to sit down and define buyer personas and focus groups. Ask who the ideal customer is. What is their age? Where do they live? What do they do for a living? Defining buyer personas helps form a better understanding of your audience.

Key characteristics of a buyer persona include:

• Job Title(s)
• Family Size

Companies may have more than one buyer persona; that’s completely fine. The reason to create buyer personas is to know exactly who your potential audience is. Buyer personas will help optimize campaigns and content to spark their interests.

Conducting a market research survey

Market research surveys are an efficient way to gain data based on insights from real customers. Companies can send surveys to existing and/or potential customers. Surveys give valuable insight into opinions about products, the company, and its customers. Companies use market research questions to make changes to products and improve or enhance features. Surveys may also answer whether the business idea is a good one. Find below some examples of market research questions to ask in a survey.

Explore and use our market research survey templates to get the data you need to make the right decisions.

Market research questions are extremely important for everyone—from small businesses to corporations.

Market research can help better understand customers and, maybe even more importantly, nourish relationships with them by making them feel influential and special. In this way, the goal is not just satisfied customers, but loyal ones too. Examining people’s needs can improve business decisions and help with product development.

Market research questions can also ask clients and associates their thoughts about your cooperation so far.

Online surveys are one of the simplest research methods—they are flexible, dependable, and cost-effective. Read here our tips for creating an engaging survey. But what are good market research questions to ask a target market?

We prepared a few examples of market research questions—with detailed explanations.

Market research surveys should include questions about customers, including gender, age, income level, job title, location, and education level. This is an especially important step for start-up companies new to the market that have yet to nail down their target audience. It’s one thing to create buyer personas; it’s another to verify they are correct based on actual customers.

Don’t hesitate to ask for details in order to learn more about the ideal customer. A pet shop needs to know what kinds of animals customers own. How many? In what type of home do they live? The more information you can learn about customers, the better.

Market research involves learning about customers’ pain points, which will help create better solutions. For example, if an online textbook store sent out a survey to students and asked about pain points, they might find that “textbook prices are too high.” The company could take this information and compare prices to a competitor’s. If their prices are too high, they can lower them or offer discounts to combat this challenge.

Ask customers about their top five to seven problems regarding a service or product. If there are enough similar responses, business owners may need to improve or create a new product to counteract these frustrations.

It doesn’t hurt to ask customers exactly what they want. Asking open-ended market research questions like this will provide answers that you might not have realized were needed. If people show reluctance to answer this question, give them the option to rate certain products or services. This will at least provide guidance about which ones they like or dislike.

For example, a shoe store might send a survey with an email asking about this season’s sandals. Customers have the option to rate the sandal and answer specific questions about it. The company can use this information to learn more about what their customers like and what to provide in the future.

Learning the difference between quantitative and qualitative research can help you choose market research methods and questions.

Ask this question to find out what customers really think about you. Choose open-ended questions and encourage respondents to describe everything in detail. One way to do this is by asking specific questions related to what you offer that competitors don’t.

For example, a bakery might offer gluten-free and vegan options, but they’re unsure if their customers care. The bakery could ask in the survey, “How important is it to you to have gluten-free or vegan options at a bakery?” The responses are rated on a scale from not important to very important. The answers will tell you if what sets you apart matters to the customer.

The survey should also include sections that allow a customer to agree or disagree with statements. For example, “I can count on Phil’s Auto Shop to offer competitive pricing.” Such questions provide insight into the emotional benefits customers perceive from your business.

New businesses benefit from including pricing questions since it can be difficult to pinpoint the right price to charge, especially if you don’t have a true competitor. Pricing products or services fairly can generate the right balance of revenue and customer satisfaction. Pricing products too high can result in a lack of customers. Pricing them too low can result in a profit loss. So how to price just right? Figure out a comfortable profit margin and then ask customers their opinions on prices. Realize that there will always be businesses that charge more or less. Pricing fairly is a matter of creating brand loyalty and excellent customer experience.

While conducting a market research survey, ask customers if they find the prices too low, fair, or too high. Display different products and services with prices and have customers rate them. For example, a marketing agency might wonder if their website design price is appealing. In their survey, they can include an example of a website design, what it includes, and their current price. Customers will have the option to decide if it’s fair or not. To gain more insight, they might also include their other services in the survey.

With these suggestions, you might now be wondering how to use them. SurveyPlanet is a great place to start. We offer a free plan that allows for the creation of unlimited surveys that can be sent to customers. And if you don’t want to write market research material, we have over 90 pre-written surveys and plenty of examples to choose from. All you have to do is press send.

For companies that would prefer to customize their surveys, we offer a Pro plan that allows the creation of custom themes, branch questions , export results, and so much more. Whether you need something basic or more extensive, both our free and paid versions can help get the job done. Start conducting market research by signing up for SurveyPlanet today.

Digital got you dazed?

Type it below and we’ll show you what we’ve written about it!

What others are looking

Marketing Research Questions and How to Craft Them Effectively

Caleb Gasilao

Author & Editor

Copywriting Team Lead

Published on: Sep 14, 2023 Updated on: May 16, 2024

Crafting impactful marketing research questions is a crucial skill in building effective customer personas for all realms of expert digital marketing .

From content marketing services to search engine optimization (SEO) to and even web or mobile development, formulating well-crafted survey queries can help you understand customers better - thus allowing you to create more powerful digital strategies and executions in the long run.

Asking the right questions can return answers that yield valuable insights - but how might one craft these data-driven marketing research questions and examples for things like social media marketing or user experience (UX) design? What are some best tips and practices that you can follow to design comprehensive inquiries for a digital execution?

Discover important techniques to identify and craft these queries with this comprehensive guide today. From pay-per-click (PPC) advertising to digital analytics and more, utilize these analytical tips to improve your customer experience strategies and executions for better digital wins this year.

The importance of good marketing research questions

To be able to craft an effective set of research queries for your digital marketing services and buyer persona needs, you have to understand the importance and relevance of such inquiries first.

A good marketing research question can help you gather consumer insights in an incredibly focused and strategic way. Inquiries that are open-ended, deep, and comprehensive allow you to easily uncover authentic customer sentiments, thus providing you better insight into your audience’s motivations towards your brand.

Well-crafted queries shape the quality of your digital strategies. With open-ended questions aided by analytical tools, you can collect critical insights such as customer needs, pain points, desires, and contexts.

These insights inform business strategies, shape the foundation of data-driven decisions, and help drive wins for things like your content marketing , PPC advertising, and other customer experience executions in the long run.

Best practices to design examples of marketing research questions

Now that you understand the importance of such a research tool to your promotional needs, it’s time for you to discover the best techniques in designing these queries for your customer experience strategy . You can break these practices down into three tips:

• Start with a clear objective. By defining and clarifying your objective, you’ll be able to guide your question formulation and succeeding investigative design accordingly. This will help you link the objective to your business goals, thus resulting in more focused and relevant research insights.
• Don’t be afraid to probe. Make sure to include follow-up prompts in your market research , in order to delve deeper into your customers’ responses. This will aid you in extracting nuanced insights for a more comprehensive customer persona.
• Balance quantitative and qualitative approaches. Explore both open-ended and close-ended queries that are also qualitative and quantitative; this will yield a better mix of both numerical data and qualitative insights.

By employing these best practices, you can garner more valuable and diverse data that aligns with your brand’s goals and ensures a more comprehensive understanding of your customers’ personas or behaviors. So make sure to enact these digital marketing skills to improve your strategy for data collection and exploration design.

Marketing research survey questions for pain points and desires

The next thing you need to do to further refine your research surveys is to craft them according to user pain points and desires. Here are some reasons why you need to address these specific user needs in the question creation process:

• To resolve customer challenges. By designing inquiries that uncover pain points and elicit genuine user frustrations, you’ll be able to identify concerns that you can inevitably resolve for customers through your brand and its products or services.

Invest 5 Minutes a Week to Grow Your Brand.

Get reliable marketing ideas and tactics that drive digital differently from top minds in the digital space.

• To know where you stand in your industry. Are you able to address user needs, or are you currently lacking in certain service areas? By asking for ways you can address pain points and desires, you’ll know where you stand compared to competitors in your brand’s industry today.

Delve into your customers’ pain points and desires in order to reveal insights that help drive ideal content creation for audiences . This will enhance your buyer persona, thus allowing for more opportunities for user engagement and customer satisfaction for your brand in the long run.

How to identify marketing research questions

Want to enrich your marketing research design even further? Then you need to identify and craft inquiries that seek to understand your audience’s demographics and psychographics. Here’s a quick breakdown of the two for your query-making needs:

• Demographic information. This refers to information that focuses on a person’s age, gender, location, and other similar data points. By identifying this information among your audiences, you can tailor your conversion marketing strategies to even more unique customer personas.
• Psychographic information. This refers to information that covers a person’s interests, values, and lifestyle, like their hobbies, political leanings, or buying habits. With psychographics, you’ll have a deeper understanding of  a user’s desires and motivations for a better digital experience strategy .

By identifying and crafting queries based on demographics and psychographics, you’ll get to collect responses that enrich your understanding of user characteristics or preferences. This inevitably contributes to a more comprehensive customer persona, thus enabling you to tailor-make communication strategies that resonate with specific audience segments.

Good questions to ask in an in-depth research marketing interview

Now that you’re equipped with guidelines on formulating queries for your in-depth market exploration, you might be interested in specific prompts that you can ask throughout your well-crafted data collection process.

These inquiries mainly work for primary market study tools, such as surveys, focus groups, or in-depth interviews. If you wish to collect supplementary information from secondary sources like journals, websites, or competitor materials, then you should conduct social listening and social monitoring for these data points instead.

But for more context-specific inquiries and real-life insights, you’ll need to practice:

• Immersing in a customer’s shoes. Create questions that prompt customers to share their own life experiences. This will allow you to understand their interactions with key touchpoints, like your brand’s own products and services, with more personal and emotional resonance .
• Unearthing pain points through contextual inquiry. You can do this by designing interactive content that specifically asks about customer challenges in real-world scenarios. These may include requests for comments and feedback in areas where your business needs to improve its products and services.

Examples of specific market research questions that you can explore, based on your identified business objective, include:

• How old are you? Where do you live? What gender do you identify as? These are a number of good examples of close-ended, quantitative, demographic queries that should be part of any analysis design.
• What have you heard about X brand? This is a simple example of an open-ended, qualitative, and psychographic survey question that uncovers your target market’s knowledge of your brand.
• How much do you usually spend on X brand products? What is the maximum amount you’d pay for X? This is a comprehensive set of close-ended, quantitative inquiries that allow you to probe deeper and follow up with more queries for your target market.
• From a scale of one to ten (1-10), how likely are you to recommend X product and why? This is both a quantitative and qualitative query that allows for an open-ended response, in order for you to identify your user’s desires or pain points with your brand’s product or service.

These are just a few simple examples of contextual inquiries that you can use on your target market. As simple as these are, however, these types of market surveys can add a dynamic dimension to your buyer persona by prompting audiences to reveal their real-life customer experiences too.

With these kinds of questions included throughout your data collection process, you’ll ultimately be able to formulate an accurate buyer persona, pinpoint areas of improvement for your brand, and enhance customer satisfaction and loyalty in the long run.

Key takeaways

Craft queries that create buyer persona wins for your brand’s own digital strategies and executions today. Bring these final takeaways with you as you embark on this crucial research journey for your business this year:

• Start with an end goal in mind. By establishing a clear objective from the very start, you can provide more direction to your study and map out your succeeding survey journey accordingly.
• Step into your customers’ shoes. Discover the pain points, desires, demographics, and psychographics of your target market so that you can truly discover what makes your audiences tick.
• Improve your strategy constantly. The more questions you ask your audience segments, the more solutions you’ll learn to improve your strategy. Optimize an ever-evolving strategy and execution process when you ask for help from the experts at Propelrr today.

If you have any other comments, send us a message via our Facebook , X , and LinkedIn accounts. Let’s chat.

Subscribe to the Propelrr newsletter as well, if you find this article and our other content helpful to your needs.

We use cookies to enhance your browsing experience, serve personalized content and ads, and analyze our traffic. We also share the collected information about you to our Analytics, Advertising and Social Media partners. By clicking “I Agree”, you consent to our use of cookies. Find out more here.

Just one more step to your free trial.

.surveysparrow.com

Already using SurveySparrow?  Login

By clicking on "Get Started", I agree to the Privacy Policy and Terms of Service .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Enterprise Survey Software

Enterprise Survey Software to thrive in your business ecosystem

NPS® Software

Turn customers into promoters

Offline Survey

Real-time data collection, on the move. Go internet-independent.

360 Assessment

Conduct omnidirectional employee assessments. Increase productivity, grow together.

Reputation Management

Turn your existing customers into raving promoters by monitoring online reviews.

Ticket Management

Build loyalty and advocacy by delivering personalized support experiences that matter.

Chatbot for Website

Collect feedback smartly from your website visitors with the engaging Chatbot for website.

Swift, easy, secure. Scalable for your organization.

Executive Dashboard

Customer journey map, craft beautiful surveys, share surveys, gain rich insights, recurring surveys, white label surveys, embedded surveys, conversational forms, mobile-first surveys, audience management, smart surveys, video surveys, secure surveys, api, webhooks, integrations, survey themes, accept payments, custom workflows, all features, customer experience, employee experience, product experience, marketing experience, sales experience, hospitality & travel, market research, saas startup programs, wall of love, success stories, sparrowcast, nps® benchmarks, learning centre, apps & integrations, testimonials.

Our surveys come with superpowers ⚡

Blog Best Of

• 50+ Market Research Questions To Ask Your Target Audience

Kate Williams

Last Updated:  

5 June 2024

11 min read

Table Of Contents

What is Market Research?

• 50+Market Research Questions

How to Write Market Research Questions

• 8 Benefits of Market Research
• Reliable Tools for Conducting Market Researchr

Before we learn about market research questions , how about a coke?

Coca-Cola, from classic coke to their famous diet Coke, is a success. No doubt. But they’ve had their share of failures too.

One of these failures happened because of poor market research. Coca-Cola’s highly ambitious product, C2 , which was half regular and half diet coke, tanked badly, as they didn’t ask the right questions to the right audience during market research.

According to the Coca-Cola market research surveys, Coca-Cola lost upwards of $50 million on C2, and we don’t want something similar happening to one of your products. That’s why we focus on market research questions that’ll get the right responses to scale your business to better heights. Here’s a snippet of what we’ll further discuss in this article.

• What is Market Research
• 50+ Research Questions To Use In 2023
• Benefits Of Market Research.
• Tools for Conducting Market Research.

Market research is the process of gaining your target customer’s insights about new products, competitors, preferences, or more. Marketing research is all about getting high-value information on things that could benefit a company and help them grow – and surveys are a great tool for this.

If you struggle with writing questions for your market research surveys, bookmark this blog. The better and more precise these market research questions are, the better the data and the better the decision you make with it.

50+Market Research Survey Questions to Use in 2023

Here we are now –  the 50 most effective market research questions that deliver outstanding results when used in research surveys. We’ve split these questions into five categories so you can pick the right ones at the right time.

 Effective Market Research Questions: 5 Effective Catagories

• New Product Survey Questions
• New Business Survey Questions
• Competition Analysis Survey Questions
• Questions For Your Existing Customers
• Questions To Improve Customer Service

These marketing research questions can be open-ended, multiple-choice, or scale-based questions as per your data requirements.

1. New Product Survey Questions

A new product launch is where most market research happens. As exciting as it sounds, it can cause a massive failure if the new product ain’t what the target audience wants it to be.

To understand that, here are 10 market research survey questions you can ask:

• How excited are you about our upcoming product? Would you be willing to test it?
• Is the product solving your problem accurately?
• What change do you wish to bring to this product?
• If given the responsibility, how would you go about promoting it?
• How much would the competitors charge for a product like this?
• On a scale of 1 to 10, how likely are you to purchase this product once it’s available?
• What features or benefits of the product stand out the most to you?
• Are there any concerns or hesitations you have about the product?
• In comparison to products you currently use or are familiar with, how does our product fare?
• Which marketing channels (e.g., social media, email, TV, etc.) would you most likely notice information about this product?

Need a ready-to-launch e xamples of research questions? H ere’s a survey created with SurveySparrow .

Unlock access to a range of free market research question templates by simply signing up today!

Please enter a valid Email ID.

14-Day Free Trial • No Credit Card Required • No Strings Attached

From audience panel services to 600+ survey templates , get all the tools you need to research a new market, launch a new product, or overhaul your current marketing strategy. Dive in with a free account.

2. New Business Survey Questions

When you’re about to enter a new business or market opportunity, it always works well too:

• Research the audience you’ll target
• The competition you’ll face
• The market size of this new opportunity
• The buying behavior of your target group

These are the ten  market research questions examples for new business:

• Who are the groups or groups that’ll buy from us?
• How big is the market for this opportunity? Will it sustain or shrink in the long run?
• How can we capitalize on customers’ buying habits/behaviors in this market??
• How are our direct or indirect competitors doing their business in this market?
• What are the problems we’ll solve for our target groups here?
• What differentiates our business or offering from existing competitors in the market?
• Which marketing channels most effectively reach our target audience in this new market?
• Are there any cultural, regional, or demographic factors we should know when entering this market?
• What regulatory or compliance challenges might we face in this specific market?
• How open is the target audience to trying a new product or service in this category?

3. Competitive Analysis Questions

Let’s face it. Whatever your business is, there are competitors. Some are big, some are small, but competition is there, and when you’re keeping tabs on them by asking the right market research questions from your teams and customers, you stay ahead of the curve!

Here are ten good market research questions for competition analysis:

• What do you like the most about our (competitor’s name) product?
• Are you content with their product pricing?
• Where do you think our brand stands compared to (competitor’s name)?
• Do you like the way they market and advertise their products?
• What sets (competitor’s name) apart? Is it their product, service, user experience, content, or anything else?
• Which features or benefits of (competitor’s name) do you wish our product/service offered?
• Have you ever experienced any issues or challenges with (competitor’s name) product/service?
• How do you perceive the customer service or support provided by (competitor’s name)?
• If you could change one thing about (competitor’s name) offering, what would it be?
• How often do you consider switching from (competitor’s name) to another brand or solution? What would motivate that switch?

4. Questions For Your Existing Customers

When you and your teams are working on a new product or service or want to bring changes to the existing ones, it’s always best to know your customer’s opinions about it because you want to deliver what they want and the changes that’ll take their satisfaction levels with your brand to the next level.

Check out these 10 market research questions for your customers:

• What changes would improve our product for you?
• Are you facing any consistent issues where you think we can help?
• Do you think our services can improve? If so, we would love to know how.
• Would you buy our products/services at a higher price if we added additional features to them?
• How can we improve our products to enhance your overall experience?
• How would you rate your overall satisfaction with our product/service on a scale from 1-10?
• If you’ve contacted our customer support, how was your experience, and what can we do better?
• Are there other products or services you wish we offered?
• How frequently do you use our product/service, and are there any challenges during its use?
• What’s the one thing you love the most about our product/service and one thing you dislike?

5. Questions To Improve Customer Service

If you thought market research and market research questions were only about new products, new business opportunities, insights from existing customers, and competitor analysis, think again!

Market research has always been about improving according to your customers, target audience, and employee insights. Your customer experience always needs review and timely improvements, and a market research survey backed with the right market research questions would help you big time here.

So, let’s look at ten such examples of market research questions that you can ask about your customer service:

• After raising your query, how much time did our customer service representative take to reply?
• Did our customer service representative directly give you the solution or explain why the issue occurred in the first place?
• How convenient is it for you to reach our customer representative and head?
• Do you wish our customer service team to be available on any other channels apart from the ones they are?
• Do you get consistent customer experience on all channels from our service team?
• On a scale of 1 to 10, how would you rate your overall experience with our customer service team?
• Were our customer service representatives friendly and empathetic to your concerns?
• Did you feel like our team valued your time and was efficient in their assistance?
• Would you say that the solution provided was satisfactory and met your expectations?
• How likely are you to contact our customer service again for future queries or concerns?

Now that might be familiar with market research questions, why not design a survey seamlessly using our ready-to-use templates?

Register below with your email for free access

Here are ten tested tips to create a perfect market research survey that gets results. Make full use of it.To create the perfect market research survey:

• Define the problem you’ll solve with it.  Don’t just conduct market research, hoping to get actionable data.
• Select the right target group. You do not want to collect irrelevant data that’s of no use. So, for a particular problem, select the right people.
• Know your sample size . Whether your method is cluster sampling , quotas , systematic sampling or purposive sampling , figure out the number of survey responses you’ll need for reliable data and keep a safety margin for half-filled or not-responded surveys.
• Select focused questions . Use these twenty-five questions the best you can. You can also check out our go-to guide on how to write better survey questions .
• Use interactive question types – like voice notes, image choice, video backgrounds, and graphical sliders. This will massively increase your response rates.
• Give incentives like free e-books gift cards. This can give respondents the extra encouragement they need to complete the survey.
• Keep it conversational . Market research surveys work when they are treated with the same care and warmth as a conversation. So, build that trust with the tone of your questions.
• Don’t send the survey to all the respondents at once . Send it to a small batch first. Analyze how they answer, make changes if needed, and then go for the full-scale market research.
• Set times for reminders . You don’t want to speed up at the wrong time.
• And last, give enough time for analysis. Specific survey tools can save time with auto-generated survey reports that you can customize.

8 Benefits of Market Research: What Makes it So Important?

While we were explaining market research and market research questions, we mentioned one of its biggest benefits too. The benefit that makes it absolutely important for any business is gunning for long-term and sustained growth.

Guessed it? Well, it’s the benefit of getting rich insights from your target audience. But that’s not the only benefit.

Yes, market research offers a lot more than you can think of. And it’s time we discuss them one by one.

#1 Know Your Business Better

When you get customer and target market feedback about a product or service, you see the difference between your and your customer’s opinions. Observing this difference allows you to bridge that down by aligning the new or existing product based on their wants.

So, when you use the right market research questions in your survey, you get to observe your company through the target audience’s lens, allowing you to better understand the business and its goals.

#2 Get More Business Opportunities

While conducting a market research survey, you often find or realize a new opportunity or avenue where the company can thrive. This realization comes when you analyze the collected survey data and see your target market’s interest in this new opportunity.

#3 Discover New Customer Segments To Target

“The product has come out well. I want to use it, and I think the Genz’s would like it too.”

If the answer to one of your market research questions is something like this, you and your teams know they have a new customer segment to target. That’s a powerful benefit of conducting a well-planned market research survey that contains the right questions.

#4 Massively Reduce The Risk Of Failing

With market research or market research surveys, you don’t just get to know the insights and opinions of your target audience on a certain product, you also come to understand areas where it’s severely lacking and can cause a failure if not duly addressed.

Also, with a few well-crafted market research questions, you get to know the areas where your business is lacking. And if you’re working on those, the chances of your business going under are reduced massively.

#5 Understand Where And How To Market

By using the right market research questions in your surveys, you understand where and how your customers and target group want your teams to market a product.

Give your survey respondents the freedom to express themselves, and you’ll get gold out of your market research. Believe us on that!

#6 Track Your Competition

While conducting market research, you can’t forget about your competitors. As a leader, you need to stay on top of proceedings regarding your competitors and their products. Your teams need to have answers to questions like what new are they bringing, what’s their new campaign like, what are they focusing on at the moment, and many more.

What better way to do that than to ask these subtly by including the right market research questions? And trust us, you’ll get massive information about your competition with these surveys, allowing you to pivot and do better.

#7 Identify New Trends

Scanning the internet for new trends is an absolute time-consuming process. You can replace that with market research and market research surveys to stay updated and well-informed on what new your customers want. Analyzing new trends can be done successfully with  digital marketing training.  The process of obtaining information becomes effective.

If not anything, it’ll save your teams a lot of time, which they can use for other important tasks.

#8 Predict The Future

To sum all the benefits we’ve mentioned, you’ll be able to predict the future of your products, services, and even your business after knowing your customer’s insights and opinions on it. That’ll give you the chance and the freedom to bring the right changes at the right time. Ain’t that impressive?

Reliable Tools for Conducting Market Research

You now know the twenty-five top market research questions to include. But how can you add these questions to a market research survey and send it? What are the different tools you could use for it?

If you have these questions, with no further ado, get your answers here.

A Full-Action Survey Software

There can be nothing better than using survey softwares to conduct market research surveys. Period. But why? Well, survey software is the best way to gather reliable information quickly from your customers and employees about your existing or new products. These surveys would give clarity about your potential and target customers, buyer persona, and the solid feedback you’ll receive will help you strategize and do better eventually.

If you’re looking to use survey software for your research surveys, look no further than SurveySparrow. This Typeform alternative allows you to create engaging forms and surveys with no hassle. These surveys are conversational, easy-to-use, and completely secure. More importantly, it offers features like likert scale questions , interactive dashboards, customization, embedded surveys, recurring surveys, and so much more. And you can use all these features in the 14-Day free trial itself.

Our friendly suggestion: Don’t miss out on this!

Chatbots for the Website

Chatbots are the future of market research, no doubt on that. As per a study, by 2024, the global market for chatbots is projected to be over $994 million. That’s some number! Thousands of brands are implementing or have implemented chatbots in their everyday business task. From doing market research to tracking and answering customer’s queries, chatbots are everywhere.

Do you know what’s the best thing about a chatbot? It’s that it makes a customer’s or employee’s journey more enjoyable, as the conversations are natural and human-like. In addition, a chatbot will always ask a follow-up question to your customers just like a human mostly does. And this helps in market research. How? By making sure you and your teams are always up to date about what your customers want and what their expectations are from your products, services, and support.

SurveySparrow’s no-code Feedbot is made to gather insightful market data with no programming knowledge. Deloitte Digital , a San Francisco-based marketing, and advertising company de-cluttered their data collection process using SurveySparrow’s Feedbot. The company was facing challenges while collecting market data with the paper questionnaire format. However, the chat-like experience and interactive UI of Feedbot helped them gather 804 survey responses out of 1200 surveyed people. That’s a 67% completion rate. Market research conducted most profitably, isn’t it?

360 Degree Feedback Software

You can spend all your dollars on your customers to make them stay, but without your employees’ efforts, it just won’t happen. When we talk about market research, the first thing that comes in our mind is the customers. We want to conduct market research to gain knowledge about customer preferences, insights, and opinions. But, what about employee research to find their satisfaction levels?

In recent times, employee satisfaction and experience have both become popular and crucial topics. Because, no matter the industry, people like to do business with people. And satisfied employees are the most real, and simple people to attract customers and keep them engaged.

That’s why it’s important to use a 360-degree feedback tool like SurveySparrow’s 360-degree feedback solution . With this, you can conduct an employee assessment (research) to increase their satisfaction levels and drive growth. Trust us, you need to conduct such assessments, especially in this new normal.

Let’s Begin!

There you have it, then. You now know the benefits of market research, twenty-five different questions to include in the market research survey, tools to conduct these surveys, and as a bonus, highly effective tips to create the perfect market research survey.

The only thing that’s left now is for you to use these questions and start conducting market research surveys. SurveySparrow and its marketing experience solution can make this process a lot easier, effective, and the least time-consuming for you and your teams. So, check it out, and we’re just this click away if you need help. Waiting to hear from you. Au revoir!

Product Marketing Manager at SurveySparrow

Excels in empowering visionary companies through storytelling and strategic go-to-market planning. With extensive experience in product marketing and customer experience management, she is an accomplished author, podcast host, and mentor, sharing her expertise across diverse platforms and audiences.

You Might Also Like

Random questions to ask anyone, the best remote team tools for collaboration and productivity, how can you measure returns on employee experience, see it to believe it..

14-Day Free Trial  •  Cancel Anytime  •  No Credit Card Required  •   Need a Demo?

Start your free trial today

No Credit Card Required. 14-Day Free Trial

Request a Demo

Want to learn more about SurveySparrow? We'll be in touch soon!

Discover Top Market Research Questions NOW!

Understand every aspect of your target market and take better decisions. try surveysparrow for free..

14-Day Free Trial • No Credit card required • 40% more completion rate

Hi there, we use cookies to offer you a better browsing experience and to analyze site traffic. By continuing to use our website, you consent to the use of these cookies. Learn More

Toll Free : 1 800 371 6224 | US : +1 650 204 3191 | UK : +44 8082 803 175 | AU : +61 1800 247 724 | Philippine Local No : 63-2-83966000

• 24 7 Answering Service
• Virtual Receptionist Service
• Phone Answering Service
• Customer Support Outsourcing
• Outsourced Technical Support
• Omnichannel Contact Center
• Multilingual Call Center Services
• Telemarketing Services
• Lead Generation Services
• Appointment Setting Services
• Cold Calling Services
• Outsource Telesales
• Market Research Services
• Survey Processing Services
• Accounts Receivable Services
• Accounts Payable Services
• Back Office Services
• Call Center Outsourcing Services
• Certificate Intelligent Document Processing
• Community Moderation Services
• Data Management Services
• Debt Collection Services
• Loan Processing Call Center
• Outsource Form Processing Services
• Recruitment Process Outsourcing
• Staff Leasing Services
• Virtual Assistant Services
• Healthcare BPO Support Services
• Legal Outsourcing Services
• BPO Real Estate Services
• Insurance BPO Services
• Retail Outsourcing Services
• eCommerce Outsourcing Service
• Mobile App Customer Support
• HR Outsourcing Services
• 3D Rendering Services
• Travel Outsourcing Services
• Telecom BPO Services
• Education Process Outsourcing
• eServices Call Center
• Sample Recordings
• Message From The CEO
• Management Team

• 24 / 7 Answering Service
• eCommerce Outsourcing Services

Benefits of Sales Team Outsourcing Every Business Must Know

Philippines Telemarketing Lead Generation For B2B Partners

Home | Blog | 79 Market Research Questions For Better Results

79 Market Research Questions For Better Results

By Magellan Solutions

Updated on June 3, 2024

Schedule a FREE call with our outsourcing expert now and get a precise quotation that meets your requirements. Don't wait - get started today!

Valuable answers come from practical questions.

In this article, you’ll learn about the top market research questions you can ask to obtain valuable insights from your potential and existing market.

What you’ll learn:

What is market research, how to write market research questions, examples of market research questions.

• For new businesses
• For a new product
• For existing customers
• For potential customers
• For competitive analysis
• For customer service improvement

Market research is the systematic process of getting and analyzing feedback from different market segments. Using this approach, you can identify the potential of your product or service when offered to a specific consumer demographic.

In other words, it helps you find the right customers to patronize your business. It also enables you to determine the pain points of your target market. Through this, you can develop or improve products or services that can resolve the struggles of your existing customers or target audience. 

It has three main methods:

• Online survey – This tool can gather information from a sample population online. To help you get started, check out some of the methods for conducting surveys:- If you are starting a business, you can begin by utilizing email and social media to send survey questions or polls to your target market.- You can also embed it into your website or app, but since it is a reactive method, the chances of getting feedback are lower.- If you think you have the budget for it, you can send it to paid survey sites to get higher response rates.
• Phone interview – Have you experienced receiving cold calls from certain companies asking about your opinion on a particular product or service? If yes, then you’re probably familiar with market research. A phone interview is a proactive way of conducting market research surveys. It guarantees you a faster and more accurate response from your target demographics. Some companies outsource to a survey call center to expand their reach while saving time and money.
• Face-to-face interviews – This is the traditional way of conducting customer surveys. It is one of the best ways to get actual, first-hand opinions. Unlike the first two methods, it requires you to go out to the street and into the houses of your sample respondents. Here, you can encourage consumers to participate by giving freebies or samplers. While this is an excellent way to build personal relationships with your ideal customers, it is not as efficient as phone interviews and online surveys.

Aside from gathering first-hand consumer data, you can also keep track of economic trends .

Secondary information provided by existing sources enables you to kick-start your market research. It gives general and quantifiable data on industry trends, demographics, and potential competitors.

Some of the best secondary information sources include government census data, statistics and research reports published by independent market research firms, and business news.

It’s easy to think of and write questions right off the bat. But first, make sure you’re square on the following details:

• What is the problem you want to solve?
• What are your goals/objectives?
• Who is your target audience?

From there, you can start brainstorming questions that would provide insightful information for your marketing, sales, and research and development departments.

Here are some things you can consider that will add depth and dimension to your market research process:

• Demand is the number of products consumers are willing to purchase at any given time.
• Market size – the number of potential consumers within a specific market.
• Customer demographics – any given sector of a population segmented using different factors such as age, gender, occupation, income, location, etc.
• Location – the place where the target market resides.
• Market saturation – the number of similar products available to target customers.
• Economic indicators – any economic activity in the location of your business that is presented in metric format.
• Pricing – the cost of products or services based on target consumers’ economic status and competitors’ current pricing.

Once you’ve listed enough questions based on some of these elements, the next step is to select questions that bring you closer to your objectives. Make sure to remove those that won’t give enough value.

While answering those questions, create a clear picture or a registry of the possible target audience response. Ask only what is necessary to prevent your respondents from getting bored. Remember that if it takes too long, they might get triggered to answer questions hastily.

Also, keep your market research process simple. Through this, you will not only keep the attention of your respondents, but it will also enable you to obtain valuable answers.

Do you still find yourself struggling to come up with appropriate market research questions? If yes, check out these examples and carefully select what you need.

Market research questions for new businesses

If you’re opening a new business, it pays to gather extensive information about the industry, market size, target audience’s buying behaviors, competitors, and competitive advantage. 

• Who are your target customers?
• What are the core problems of your customers?
• What is your product or service?
• How can your product or service solve the problems of your customers?
• Does your product fit into the current market? 
• Is it possible to create a new market for your product?
• What is the current market size? What is the potential size of the market?
• Will the market size grow or contract? Why?
• What are the buying habits in the market? How can we exploit them?
• What are the existing segments of the market?
• In which segments do you plan to compete?
• Which of the segments are growing, and which are contracting?
• Who are your direct competitors? What are their strategies for attracting customers?
• What is your competitive advantage?
• Where do you plan to establish your business?
• What is the current economic status of your target customers from that location?
• How much do you plan to charge your customers for availing of your products or services?
• How much are you going to spend on customer acquisition?

When starting a new business, position yourself as an expert. This means having in-depth knowledge about your customers, the industry, the market trends, and competitors.

It is essential to curate questions that can show you opportunities to succeed. Assess your edge over your competitors. For example, you can ask your target market how your competitors can improve their products or services. Once you’ve analyzed their answers, it will be easier to figure out what you can add or enhance to meet customer expectations.

Market research questions for new product launch

Expanding your product line also requires lots of research and market testing. Here are some of the questions you can ask.

• How do you plan to test your new product?
• What will you test? (Product, marketing collaterals, marketing message, etc.)
• Where will you find users who will test the product?
• How high is the current demand for your new product?
•  How are you going to promote it?
• What channels are you going to use?
• Where do you plan to promote it?
• Who will be your market?
• How much do your competitors charge for a similar product?

Before launching a new product, you must know your target customers, the demand for the product, your marketing or advertising strategy, and your possible competitors.

Questions to ask existing customers

When researching existing customers, the main goal is to find out how they feel about your brand. Since they have first-hand experience using your products, they are the ones who can show you their strengths and weaknesses.

You can use a rating scale or a checklist for these questions. This way, it will be easier for your customers to answer your survey.

Checklist with ‘other’ option in case the answer isn’t indicated on your survey form:

• How did you hear about us?
• How long have you been our customer?
• What problem does our product solve for you?
• What features do you like most about our product?
• What do you like the least about our product?
• What made you choose us over the other products in the market?
• How often do you purchase our product?
• Would you avail of our product/service again?
• What else can we do to improve your experience with our brand?

Rating scale

• How well does our product meet your needs?
• How would you rate your last experience with us?
• How likely are you to recommend our product to a friend?
• How will you rate the speed and promptness of our customer service team?

The goal of conducting market research among your existing customers is to know their satisfaction with your brand. This will let you see what you need to continue doing and the areas you need to improve.

Market research questions to ask potential customers

When interviewing your potential customers, get enough information about their demographics, socioeconomic status, and unique interests.

These are the essential information you need to acquire:

• Address (doesn’t need to be specific, especially if confidentiality is required)
• Education level
• Profession/Job
• Household income
• Household size

On the other hand, these are some questions you can ask to help you better segment your target audience:

• What are your hobbies and interests?
• What are the common challenges you encounter regularly?
• What are your main goals?
• What products do you consider the most important for your everyday life?
• Where do you usually discover new products?
• How much do you spend when purchasing (specify here the type of product you’re offering)?
• How often do you buy (again, specify here the type of product you’re offering)?
• How likely are you going to buy our product?

You can also add more questions about your brand to get the necessary information when improving your marketing message.

These questions will help your marketing team create value-added promotional materials that appeal to your target audience. 

Questions for competitive analysis

Competitive benchmarking lets you compare your performance against your direct competitors. Here are some questions to help you get started:

• How’s your brand’s performance compared to your competitors?
• How do your competitors advertise or market their products?
• What are the other brands’ customer acquisition strategies?
• How much web traffic does your competitor receive?
• What keywords are your competitors using?
• What type of content are they producing?
• Are you using the same keyword on your website?
• What other channels do your competitors use aside from their websites?
• How many inbound links do your competitors have?
• How active are the other brands in producing backlinks with authority websites?

Measure your success by knowing the performance of your competitors. Analyzing their products, services, marketing strategies, sales, authority in the industry, customer acquisition strategies, and branding will let you see where you can thrive better than your competitors.

To improve customer service

Customer service is a crucial element in customer retention. It serves as the fine line between repeat business and an abandoned transaction. Do it right , and your customers will come back for more. Neglect it, and your customers are likely to move to your competitors.

Always check the quality of customer service you provide to keep your loyal customers.

• How fast do you respond to inquiries?
• How well and quickly do you resolve customer complaints?
• What are your customer satisfaction ratings?
• What problems do your customers often experience concerning your customer service?
• How can you improve your customer service?
• How can you measure your customer experience?
• Do your customers know all of the features, products, and services your business offers?
• Do you provide a personalized experience?
• How convenient is it to reach your business?
• What customer service channels are you using?
• Is your website or mobile app user-friendly?
• Is the experience consistent across all channels?
• Does your brand appear trustworthy based on online reviews?
• If you have international clients, do you provide multilingual options ?

As high as 49% of US customers leave a brand due to poor customer service. Don’t let this happen to your brand! Regularly assess the quality of your customer service to provide positive customer experiences. 

In conclusion

Market research can save a lot of trouble and financial heartbreaks when done right. Whether starting a business, chasing growth, creating better marketing messages, or improving your processes, market research can bring you the answers you need to develop dynamic strategies. Ask the right questions, and you’ll surely get valuable results.

Do you need the help of a market research call center to reach a wider audience within a shorter time? Magellan Solutions is here to help! We offer tailor-fit solutions to meet the needs and budget of your business. If you want to know more, contact us using the form below.

Share this:

Talk to us!

Contact us today for more information.

You can also contact our numbers: Toll Free: 1 800 371 6224 US: +1 650 204 3191 UK: +44 8082 803 175 , AU: +61 1800 247 724

Want to know more?

Explore our services further by filling out the form below, and we'll reach out to you soon!

Give us a call!

1 800 371 6224

United States:  

+1 650 204 3191

United Kingdom:

+44 8082 803 175

+61 1800 247 724

Philippines:

63-2-83966000

Get free custom quote

Unlock Outsourcing Potential

Magellan Solutions

Related Articles

Ramp Up Sales With Outsourced Sales Team

9 Signs Your Telemarketing Is A Failure

Risky Pay Per Sale Telemarketing: What’s the Alternative?

Join Magellan and Make a Difference!

Privacy Overview

Get a 60 Minute Assessment

Claim your free 60-minute assessment with our outsourcing expert today and get a quote based on your needs.

• 33 Best Market Research Question Examples

To build a successful business, it is important to gather useful insights through market research. More than anything else, carrying out market research helps you to collect necessary information and make the right business decisions with regard to market segmentation and product differentiation. 

In this article, we will share sample questionnaires for different types of market research; specifically product, client, and customer market research. We will also show you how to use Formplus to create a simple online research questionnaire in no time. 

What is Market Research? 

Market research is the process of gathering valuable information about the needs of your target market, consumer behaviors, and market challenges. Conducting market research helps you to determine the feasibility of a product or service before its introduction to the market. 

During market research , an organization can collect primary and/or secondary data. Primary data refers to information that is collected directly from the research participants and target markets while secondary data refers to already-processed information about the research context and subject(s). 

Importance of Market Research

• Improves Sales

Market research provides unique insights into the expectations of your customers and clients, which helps you tailor your product to meet their specific needs. This would ultimately help to increase your sales.

• Identifying New Business Opportunities

With market research, you’d be able to spot untapped business opportunities in your industry and work on building a product in line with this. You can discover new geographical concentrations for your target market, for instance. 

• Reduces Business Risks

As a business owner, your priority should be taking calculated risks and this can be achieved when you have forehand knowledge of the dynamics of your industry. Conducting market research arms you with useful insights that will help you make the right business decisions.

• Advertising

Market research also improves your advertising by helping you to identify the best channels to reach your customers. You’d better understand market demographics and also know the channels that can yield the best returns in terms of lead generation and sales. 

• Competitive Advantage

With better knowledge of market needs and consumers’ preferences, you’d stay ahead of your competition. For instance, you can identify neglected market segments and focus on penetrating them. 

Market Research Questionnaire Examples for Product 

Product market research questions trigger responses that reveal how well-suited your product is for the target market. The right product-market research questions provide useful insight into the feasibility of the product before it is launched. Here are 11 question samples for your product market research questionnaire. 

• What is your deciding factor for product patronage?

This question would help you focus your product’s unique selling point on what the target market considers valuable. For instance, if the deciding factor for your target market is affordability, you would want to work on a fair pricing rate for your product.

• How likely are you to purchase groceries online?

Since you want to create a product that satisfies a specific need, you need to be sure your target market would be willing to buy into your idea. If the market has no need for an online grocery store, there’s little or no reason for you to launch one.

• Which product features are most valuable to you?

You can tweak this question in line with your specific product. Data gathered via responses would help you identify the product features you need to invest in.

• Would you be willing to subscribe to a weekly business newsletter?

Questions like this would help you decide whether you need to go ahead with a specific development plan for your business. If you want to launch a newsletter, it helps to know if you have a willing audience for it.

• Would you like to process orders and payments in a single form?

This type of question would help you identify the need(s) of the market and you can work on creating a product or developing a feature to meet this need.

• Who is your trusted internet service provider?

If you’re looking to penetrate a new market, it is important for you to identify the existing competition; that is, organizations that provide similar services in your industry. Asking prospective customers to identify the brands they trust is an essential part of your competitive analysis.

• What challenges do you face with 3rd party logistics companies?

This question would help you to identify the specific needs of your target market. You can focus your product on providing solutions to the challenges highlighted.

• Would you find this product useful?

This is a straightforward question to determine whether your product fills a specific need in the market.

• Would you be willing to pay in installments for this service?

Questions like this would help you identify product features that your target market considers to be valuable.

• How much are you willing to pay for this product?

This question would help you fix a reasonable price for your product. While your product may be excellent, ensuring its affordability is key to penetrating the market effectively.

• How much do you spend on groceries every month?

This question would provide insights into the purchasing power of your target market.

Read: Research Questions: Definition, Types, +[Examples]

Market Research Questionnaire Examples for Customer

To better under your customers’ perceptions of your product, you can create and administer a market research questionnaire. A market research questionnaire for your customers should include questions that focus on the usefulness of different aspects of your product delivered to your customers. 

You’d also want to centralize questions that bother on customer demographics, challenges, specific needs of your customers, and how your product meets these needs. Here are 11 specific questions you can include in your market research questionnaire for customers: 

Demographic Questions

These questions will help you better understand who your customers are and also help you create an accurate buyer persona.  Knowing who your customers are and what appeals to them means that you would be able to focus your product on what appeals to them. 

• What is your monthly income range?

Knowing how much your customers earn gives you a hint of their purchasing power and how much they can typically spend on your product. This will inform the pricing of your product so that you do not price yourself out of business.

• How much do you spend on shopping every month?

Just like you, customers work with a budget and are more likely to purchase products whose costs fit into this. Responses to this question will help you fix an appropriate fee on your product.

• Where do you prefer to shop?

Catering to customer preferences is one way of securing repeated patronage. Responses to this question will inform your business expansion plan. For example, if your customers prefer shopping online, you can set up a Formplus online order form to allow them to place orders for items and make payments conveniently. 

• How old are you?

This question will help you identify the age group that your product appeals to the most. Knowing this would help you craft marketing and advertising campaigns that appeal to the members of this group.

Feedback Questions

These questions help you to collect insightful information about customer experience; that is, how customers perceive your product and overall delivery. Responses to these questions would let you know why your customers buy from you and how well your product meets their needs. 

• What specific needs does our product meet for you?

This question helps you to identify the unique selling point of your product. You would know why customers patronize your brand and you can leverage this information for better marketing and advertising.

• How would you rate our product delivery?

Responses to this question are a direct reflection of your customer’s perceptions of your product delivery. For better insight, you can ask them to provide reasons for their ratings.

• What challenges did you encounter while using our product?

These questions help you to identify business weaknesses from the point of view of the end user. If left unattended to, competitors can capitalize on these weaknesses to increase their customer base.

• How likely are you to recommend our product?

Happy customers are one of the most effective marketing tools as customers will only recommend a product they are satisfied with. If more people are eager to recommend your product, it means that your business and brand is on the right track.

Other market research question samples are:

• How would you rate our customer experience?

Feedback on customer experience is important because it helps you improve your brand’s relations with its customers across different business touchpoints.

• What do you think about product pricing?

This question would help you adjust your product pricing appropriately. If customers think your product is too expensive, they may stop buying from you.

• How often do you use our product?

This question would help you track repeated patronage and to know how your product fits into your customers’ everyday lives.

Market Research Questionnaire Examples for Client 

Clients are individuals and organizations that you provide specific services for. Just like with customer market research questions, market research questions for clients help you assess your service delivery, identify clients’ unique needs, and gather useful insights via feedback. Here are 11 sample questions for you: 

• How would you rate our service delivery?

This is a feedback question that will help you understand how well your service meets your client’s needs.

• What challenges are you experiencing with our services?

Responses to this question would highlight areas needing improvement in your overall service delivery.

• Would you be willing to recommend us to your network?

If the answers to this question are in the affirmative, then you can be sure that your clients are quite impressed with the service you provide.

• What specific needs do our services meet for you?

To clearly map out the value of your product from the clients’ perspectives, ask them to identify the specific needs your services meet for them.

• How can our service delivery be better?

This is another feedback question that would help you improve your services to better cater to the needs of your clients.

• For how long have you been a client?

This question helps you to gather meaningful data to improve your client retention strategies.

• What do you like the most about our services?

This question would help you identify the unique selling point of your services.

• How would you rate your last experience with us?

With this question, you’d be able to gather valuable information about a client’s experience with your services.

• What do you dislike about our service delivery?

This question allows clients to highlight areas needing improvement in your service delivery. The data gathered would help you improve your services for the benefit of your clients.

• Are our services helpful?

This is a simple question that requires clients to highlight the value of your services.

• Why did you choose us?

How to Create an Online Research Questionnaire 

With Formplus, it is easier for you to create and administer an online questionnaire for market research. In the drag-and-drop form builder, you can add preferred form fields and edit them to suit specific research needs. Here’s a step-by-step guide on how to go about it: 

• Sign in to your Formplus account. In your dashboard, click on “create new form” to get started on your online research questionnaire.

• Drag and drop preferred fields into your online questionnaire. You can edit form fields to include market research questions. You can also make some fields hidden or read-only depending on your research needs.

• Use the form customization options to tweak the appearance of the online research questionnaire. You can add preferred background images, add your organization’s logo or tweak the form font.

• Finally, copy the form link and share it with form respondents. You can use one or more of the multiple sharing options including the social media direct sharing buttons and the email invitation option.

Conclusion 

While creating your market research questionnaire, it is important for you to tailor its questions to specific contexts. For instance, if you are conducting product market research, you should ask questions that would provide useful information on product feasibility among other things. 

Conducting market research yields multiple benefits for your business. To make the process seamless and easy to coordinate, you can set up an online research questionnaire with Formplus and share this with your customers, clients, and target market(s). 

Connect to Formplus, Get Started Now - It's Free!

• market research
• market research questionnaire
• busayo.longe

You may also like:

Projective Techniques In Surveys: Definition, Types & Pros & Cons

Introduction When you’re conducting a survey, you need to find out what people think about things. But how do you get an accurate and...

Target Market: Definitions, Examples + [Audience Identification]

Without knowledge of your target market, your entire product conception and marketing process is flawed. This article covers practical...

Taste Testing Market Research & How it Works

Introduction The purpose of taste testing is to determine the preferences of consumers. It is an important part of marketing research...

Margin of error – Definition, Formula + Application

In this article, we’ll discuss what a margin of error means, its related concepts, the formula for calculating it and some real-life applications

Formplus - For Seamless Data Collection

Collect data the right way with a versatile data collection tool. try formplus and transform your work productivity today..

Help wanted: Charting the challenge of tight labor markets in advanced economies

At a glance.

• Labor markets in advanced economies today are among the tightest in two decades, not merely a pandemic-induced blip but rather a long-term trend that may continue as workforces age.
• Tightness means forgone economic output. We estimate that GDP in 2023 could have been 0.5 percent to 1.5 percent higher across these economies if employers had been able to fill their excess job vacancies.
• Companies and economies will need to boost productivity and find new ways to expand the workforce. Otherwise, they will struggle to exceed—or even match—the relatively muted economic growth of the past decade.
• Actions for companies and policy makers include:
• Focus on skilling and reskilling, including attracting talent from unconventional pools, offering more flexible work, and internal mobility.
• Encourage foreign-born workers with programs to properly integrate them into the workforce.
• Shape retirement policies to encourage people to work beyond standard retirement ages and take steps to attract more women into the workforce, for example, by offering elder or childcare infrastructure.
• Prioritize investment in labor-complementing and labor-substituting AI and automation to unlock productivity.

Labor market tightness is a persistent challenge. Though loosening somewhat since their 2022 peaks, labor markets in advanced economies remain tighter than at any other time over the past two decades. This is not a pandemic-induced phenomenon. Rather, it continues a long-term trend that started in 2010, when advanced economies began their protracted recovery from the 2008 financial crisis.

Shifting demographic forces could intensify this trend in the future. As workforces age and population growth decelerates, countries cannot count on excess workers to power economic growth. Absent concerted efforts to boost productivity or increases in the workforce through higher participation or immigration, many advanced economies will struggle to exceed—or even match—the relatively muted economic growth of the past decade.

So far, the impact of the labor market squeeze has been unevenly distributed. Job vacancies have climbed most steeply in sectors that traditionally have low productivity, such as healthcare and hospitality, as well as those with stagnant productivity, like construction. Without action, labor shortages may continue to hit sectors that struggle to increase productivity.

Tight job markets present both challenges and opportunities. Job seekers find work more easily and may garner higher wages. Yet upward wage pressure can spur inflation and stress businesses, particularly smaller ones. For instance, companies may need to turn down orders because they can’t hire enough workers to satisfy demand. At the economy level, we estimate that GDP in 2023 could have been 0.5 to 1.5 percent higher in the biggest advanced economies if employers had been able to fill their job vacancies.

Businesses large and small will need strategies to confront persistent labor shortages. Deploying and adopting technologies is one way they can power productivity growth. Retraining programs can help workers gain new skills needed as technologies shift, and matching programs can pair people with jobs. Businesses also can expand their hiring pools, including by seeking to attract immigrants and people who might otherwise sit on the sidelines.

Against this backdrop, this article examines labor markets in advanced economies, using 20 charts to illustrate conditions in labor markets today, future prospects, and actions to address shortages. These labor markets range across 30 economies in Asia, Europe, and North America, with a particular focus on the eight largest: Australia, Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

Tightness is the trend

Today’s tight labor markets reflect longer-term trends in vacancy and unemployment rates across advanced economies.

Since 2010, labor markets have tightened across all 30 advanced economies we analyzed. 1 The 30 countries are Australia, Austria, Belgium, Canada, Croatia, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, the United Kingdom, and the United States. Comparing job vacancies with numbers of unemployed job seekers provides one measure of labor market tightness. The number of job vacancies per unemployed person increased by more than four times on average across these economies between 2010 and 2023, and by almost seven times in the United States.

Labor shortages have appeared across a diverse group of countries that have no apparent common features other than their stage of development. Tightness is particularly acute in seven countries—the Czech Republic, Germany, Japan, the Netherlands, Norway, Singapore, and the United States—that have more vacancies than unemployed workers. Together these countries account for 53 percent of the total labor supply of the 30 advanced economies in our research, and 64 percent of collective GDP. In another seven countries, the number of job vacancies is 0.5 to 1.0 times the number of unemployed workers. Australia, Canada, and the United Kingdom are in this group.

But not all large economies have labor shortages. For example, labor markets in France and Italy remain relatively slack, as they do in 14 other countries among the 30. This group collectively accounts for 31 percent of total labor supply and 20 percent of total GDP. Yet even in most of these places, labor markets have tightened. Vacancies per unemployed person have increased by five times in Italy and by almost four times in France.

The tightening trend began after the 2008 financial crisis, when job vacancies were dwarfed by a vast number of unemployed people. The recovery was slow: labor markets in these 30 economies took 8.2 years on average to reach the degree of tightness they had before the crisis.

The desire to hire carried on apace, and labor markets continued to tighten until the COVID-19 pandemic took hold in early 2020. During the pandemic, many labor markets oscillated, first to extreme looseness and then to extreme tightness. Generous fiscal stimulus measures during the crisis fueled a comparatively fast job recovery, and by 2022, labor markets had achieved the highest ratio of job vacancies to unemployed people in two decades. Today, labor markets remain historically tight but have cooled somewhat from that peak. For instance, as of April 2024, the vacancy-to-unemployment ratio in the United States had dropped to 1.2 from 1.4 at the end of the prior year.

The devil is in the details: Decoding the labor data

In the internet era, posting job listings is easy and motivation to take them down is low, raising questions about the reliability of data on job openings. 1 “Measuring job openings in the U.S. labor market,” Congressional Research Service, February 28, 2024. In this research, we examined trends in labor market tightness using a variety of data that economists typically employ to understand labor market dynamics, drawing data from multilateral and country statistical agencies. These included the following:

• Labor supply, or all the people seeking work, is the sum of the people with jobs (employed people) and people looking or recently looking for jobs (unemployed people).
• Labor demand, or all jobs that need workers, is the sum of filled positions (equal to employed people) and unfilled positions (vacancies or job openings).
• Unemployment rate, or the percentage of people seeking work who haven’t found jobs, is unemployed people divided by labor supply (the sum of employed and unemployed people).
• Vacancy rate, or the percentage of jobs that remain unfilled, is job vacancies divided by labor demand (the sum of filled jobs and job vacancies).

We focus on measuring labor market tightness as the ratio of vacancy rates to unemployment rates, but our conclusions hold if we examine unemployment rates only (exhibit). In 2023 in all countries but Denmark, Luxembourg, Norway, and Sweden, the unemployment rate was lower than the median observed since 2000, and the average unemployment rate across 30 advanced economies was among the lowest one-fifth of unemployment rates observed since 2000.

To explore the micro underpinnings of labor shortages, we analyzed vacancy and employment data at the sector level in seven of the eight focus countries. (We were unable to extract the same data for Japan.) Additionally, we combined US occupational data from the Bureau of Labor Statistics with McKinsey Global Institute’s skills taxonomy to understand the types of jobs and workers most affected by the labor shortage.

We also tested whether labor market tightness was a result of mismatches between workers and available jobs. This happens when vacancy rates rise without a commensurate decline in unemployment rates or vice versa. While we found evidence of such mismatches in Australia, Canada, and the United States during the COVID-19 pandemic, by the end of 2022 they were resolving, and so that analysis is absent from this report. 2 This can be seen on the Beveridge curve, which illustrates the relationship between unemployment rates and job opening rates. For an example, see The Beveridge curve (job openings rate vs. unemployment rate), seasonally adjusted , US Bureau of Labor Statistics, accessed May 20, 2024; Gadi Barlevy et al., The shifting reasons for Beveridge-curve shifts , IZA discussion paper number 16517, IZA Institute of Labor Economics, October 2023.

Across the eight focus economies, labor markets have retreated from peak tightness during the COVID-19 pandemic toward conditions more similar to the rising prepandemic trend. Only Italy, which had one of the loosest labor markets among developed economies before the pandemic, shows no signs of declining tightness yet. This could be the result of the Italian government’s fiscal response to COVID-19, which the International Monetary Fund estimates exceeded 45 percent of the country’s GDP, making it the most generous relief package among advanced economies. 2 Database of Fiscal Policy Responses to COVID-19, International Monetary Fund, accessed May 28, 2023. Japan, where the labor market was among the tightest before the pandemic, lags its prepandemic trend, in part because a weakening yen increased costs in the import-dependent economy. Nonetheless, job vacancies remain 1.2 times the number of job seekers.

Overall, the appetite to hire continues along a rising trend line, outpacing the number of workers seeking jobs.

Increased labor input drove economic growth in many countries

What was behind the robust appetite for labor?

Since 2010, countries that have increased GDP fastest have done so primarily by adding more workers rather than by improving productivity. In markets such as Australia, the United Kingdom, and the United States, where labor has been relatively plentiful and consequently easier to hire, companies had a business rationale to add hours and employment rather than tackling the harder job of improving productivity. Countries where labor wasn’t so plentiful—Germany and Japan, for example—relied more on productivity growth to propel their economies, although that did not fully compensate for low labor force growth. In fact, labor productivity has stagnated in many advanced economies, as documented in previous McKinsey Global Institute reports. 1 For more, see Investing in productivity growth , McKinsey Global Institute, March 2024, and Rekindling US productivity for a new era , McKinsey Global Institute, February 2023.

Even though all countries experienced a productivity slowdown after the financial crisis, some countries were more negatively affected than others. In Australia, productivity benefited from a commodity boom, while in the United Kingdom, underinvestment in regions other than the southeast may have exacerbated stagnating productivity. 2 Angelina Bruno, Jessica Dunphy, and Fiona Georgiakakis, Recent trends in Australian productivity , Reserve Bank of Australia, September 2023; Productivity in the UK: Evidence review , UK Productivity Commission, National Institute of Economic and Social Research, June 2022.

The excess supply of labor has dwindled

In the wake of the financial crisis, many people struggled to find work. In 2010, there were roughly 24 million excess workers, as measured by comparing the number of job seekers with the number of job openings across the eight countries. Today the number of job seekers is close to the number of job vacancies.

However, the degree of excess supply (or no excess supply at all, in some cases) varies at the country level. Labor demand exceeded supply in Germany, Japan, and the United States at the end of 2023. Recently, Germany enacted a law aimed at increasing immigration of highly skilled workers, and in the United States efforts are under way to establish a federal commission to study labor shortages and find ways to address them.

The excess supply of unemployed workers relative to job openings in France and Italy was two million and one million, respectively. While these economies have meaningful slack in their labor markets today, even they have tightened. Their excess labor figures are 7.1 and 5.7 percent, respectively, down from prepandemic peaks well above 10 percent.

The factors that drove labor market tightness also varied across countries. Unemployment rates in Germany, the United Kingdom, and the United States came down from highs in 2010, while Australia never had very high unemployment. Italy continued to have a relatively high rate of unemployment but also increased vacancies, suggesting either a mismatch or a higher natural rate of unemployment. Meanwhile, demand increased markedly in Japan while its shrinking population constrained its labor supply.

The labor surplus has fallen from 24 million to 1 million since 2010 in eight advanced economies

The number of excess workers dwindled as growth in labor demand outpaced growth in labor supply. Labor forces in these eight countries grew between 2010 and 2023. Propelled by population growth and increased labor force participation that outweighed the impact of aging, 33 million workers in total joined their labor forces.

Over the same period, labor demand grew strongly, fueled by expansive monetary and fiscal policies as these countries recovered from the financial crisis. Employers needed to fill some 57 million additional jobs over the same period, or 24 million more than the number of available workers. Most advanced economies avoided subsequent downturns. This uninterrupted growth in demand not only drove average unemployment down from 8 percent to 4 percent but also created an additional ten million unfilled jobs across the eight economies.

During that time, people worked fewer hours on average, but the imbalance between job seekers and available jobs wasn’t due to that change. From 2010 to 2023, the average number of hours worked per employee fell from 37 to 36, a 3 percent decline roughly equivalent to just 33,000 workers in 2023. Declining working hours affect labor supply and labor demand equally, meaning the net effect is negligible.

Countries today have fewer than one million excess workers in aggregate: the number of job seekers is close to the number of job vacancies. What appears to be a perfectly matched labor market is in reality an extremely tight one, since some degree of excess supply is always the norm—matching is never perfect, and demand and supply are always in flux as workers switch jobs and employers shift strategies.

GDP could have been higher by 0.5 to 1.5 percent in 2023 if excess vacancies had been fewer

Increased job vacancies can constrain real economic output; they represent demand for goods and services that businesses are unable to fulfill. In seven of the eight countries—Japan is the exception—unfilled job vacancies in 2023 were higher than in 2019, before the onset of COVID-19, when they were in turn higher than their median levels from 2010 to 2019.

Unmet demand for labor can be addressed by finding additional new workers or by raising the productivity of existing workers. This can restore balance to labor supply and demand while creating additional output.

We estimate the additional output that would have been produced if labor markets were not so tight by examining the degree to which vacancy rates are higher than a structural or natural rate of vacancies. Structural vacancy rates vary across industries and countries and can even vary over time. To account for this, we compared sector-level vacancy rates in 2023 to vacancy rates in 2019 as well as to the median rate from 2010 to 2019. We find that, depending on the country, GDP could have been 0.5 percent to 1.5 percent higher in 2023 if that unmet labor demand had been filled. 1 To estimate how much GDP might have been generated absent increased labor market tightness, we determined how many additional workers would be employed if 2023 job vacancy rates by sector fell to their historical level in 2019, or to their median vacancy rate level from 2010 to 2019, in each country. The output was estimated based on that number of workers and the average productivity per worker, at 2023 levels, for each sector. It is sensitive to the productivity assumption; we assume average productivity, but the potential productivity of unfilled vacancies could be lower than the sector average.

Who’s feeling the crunch?

Employers in some sectors have felt the impact of the labor shortage more than others, and the appetite for physical and manual skills has unexpectedly intensified.

All sectors have higher job vacancy rates today than in 2010

Across economies, average vacancy rates, or job vacancies as a share of total labor demand, increased by more than two percentage points from 2010 to 2023 in the healthcare, leisure and hospitality, and construction sectors. 1 Includes seven of the eight focus countries. This data was not available for Japan. Conversely, job vacancy rates in the financial and real estate sector and the information sector, both high-productivity sectors with well-paid jobs, changed by less than one percentage point on average.

The pandemic hit the leisure and hospitality sector particularly hard as travel and tourism slowed. As restaurants and hotels reopened, they struggled to restaff. In Europe, some hotels hired people with little or no experience, and fast-food restaurants in the United States raised wages and shortened hours to cope with a shortage of staff. 2 Ryan Mann, Esteban Ramirez, and Matthew Straus, “ Three innovations to solve hotel staffing shortages ,” McKinsey, April 2023; Carol Kahn, “Sedona hotels cope with staffing shortages,” Sedona Red Rock News , October 29, 2021; Andrew Mills, Corina Pons, and Catarina Demony, “No experience, no resume, you’re hired! Hotels fight for staff,” Reuters, July 4, 2022; Joanna Fantozzi, “Restaurants are still dramatically decreasing their hours, new study shows,” Nation’s Restaurant News , October 28, 2022. Aggregate employment levels indicate that previous restaurant and hotel workers have rejoined the workforce, but they appear to have taken jobs in other sectors.

The healthcare sector has been strained as aging populations have driven demand for these services. The sector had the highest number of job vacancies among the sectors in our research, or 16.9 percent of all vacancies in 2023.

Vacancy rates also markedly increased in the construction sector, in part due to its cyclicality. Demand in the sector began climbing in 2010 after dropping sharply during the financial crisis. Today, strong demand for housing and government spending on large infrastructure projects, such as a €45 billion construction relief package in Germany and a $1.2 trillion package for infrastructure in the United States, have propelled vacancies.

Vacancies have not grown in lockstep with employment

Sectors fall into four groups depending on how vacancies grew in relation to employment: “labor hungry,” “labor attracting,” “labor disrupting,” and “labor efficient”.

Labor shortages have had the biggest impact on labor-hungry sectors, such as healthcare and construction, as previously noted. Demand for labor has risen faster than the sector’s ability to attract workers. Vacancies have increased in public and private healthcare systems despite efforts in countries such as the United Kingdom to attract immigrants to the sector, and construction is booming in most advanced economies due to housing shortages and infrastructure needs. Typically less capital intensive and more difficult to automate, these sectors added jobs at or faster than the average clip but not fast enough to keep pace with demand. In Canada, for instance, a recent House of Commons committee report acknowledged that the country has “longstanding issues with lack of supply of health professionals,” in part due to mental health issues and burnout exacerbated by the COVID-19 pandemic, which have led to retention issues. 1 Sean Casey, Addressing Canada’s healthcare workforce crisis , Report of the Standing Committee on Health, House of Commons, Canada, March 2023.   And some Italian construction companies are turning to workforce development programs and partnerships with African universities to recruit and train new workers. 2 “Webuild CEO Pietro Salini: Ready to hire about 10,000 people in next three years to develop infrastructure in Italy,” Webuild Group, September 18, 2023.

Conversely, labor-attracting sectors like financial and real estate, information, and professional services have also added employment faster than average—they have attracted workers at a faster pace than their demand for labor has grown. In this group, only the professional services sector increased its share of overall vacancies.

Manufacturing is a labor-disrupting sector. Although the sector accounted for a smaller part of the workforce in 2023 than in 2010 across the eight countries, its job vacancies nonetheless increased significantly, especially after 2019. Research by economist Richard Baldwin found that since 2013, the manufacturing sector has lost 20 million jobs globally due to productivity gains from increasing automation. 3 Richard Baldwin, “Where in the world are manufacturing jobs going?” Factful Friday with Richard Baldwin, LinkedIn, December 22, 2023. The mix of workforce skills has been changing, as some manufacturing jobs require more customer relations or analytics, and as corporate manufacturing footprints are themselves changing. For example, areas such as semiconductors and electric vehicle manufacturing are demanding more workers as a result of shifts in industrial policy and “friendshoring.”

Trade is a labor-efficient sector, in which productivity enhancements have eased the pressure to hire. As consumer demand has shifted, the retail segment of the trade sector has increasingly automated and digitized, increasing productivity and mitigating the impact of labor shortages. In Japan, for example, convenience stores are responding to staff shortages not only by relying on immigrant labor but also by rolling out technology like self-checkout and cleaning robots. 4 For immigrant labor, see “For a glimpse of Japan’s future, see its convenience stores,” Economist , April 4, 2024. For automation, see “Promotion of digitization to improve convenience,” FamilyMart, accessed May 20, 2024. For cleaning robots, see Fumika Nakashima, “Japan’s FamilyMart to roll out cleaning robots at 300 convenience stores,” Nikkei Asia, February 13, 2024.

Sectors struggling with productivity contributed disproportionately to vacancy growth

What explains the differences between the shifting employment share and the shifting share of vacancies? Productivity and productivity growth are crucial factors: sectors with lower productivity and productivity growth had steeper increases in vacancy share. In a growing economy with a tight labor market, low-productivity sectors requiring the most labor per unit of additional output are likely to be most constrained.

Opportunities exist to boost productivity across sectors. The leisure and hospitality sector in the United States provides a case study. In 2021, the sector accounted for 16 percent of all job vacancies, a comparatively big share that was three percentage points higher than its average from 2010 to 2020. The sector responded to challenges posed by the COVID-19 pandemic by automating more processes and raising wages by an average of 29 percent from mid-2019 to mid-2023. Those steps increased the sector’s productivity by 6.4 percent over that period, decreasing pressure to hire and reducing its share of vacancies as its vacancy rate fell to 6 percent in 2023 from a decade high of 11 percent in 2021.

Spotlight: Physical and manual skills in demand

Demand for skill types is another lens through which the impact of a labor shortage can be examined. Our skills taxonomy comprises five broad categories—technological, social and emotional, higher cognitive, basic cognitive, and physical and manual skills, mapped to detailed occupations. 1 See A new future of work: The race to deploy AI and raise skills in Europe and beyond , McKinsey Global Institute, May 2024. Here we analyze skills to understand increased job vacancies in the United States. While some conclusions could be extrapolated to other peer countries, they may not be universally true.

In an era of technological change, the most significant absolute shortage is in technological skills. Occupations relying on these skills, like software developers and other IT-related jobs, have been the hardest to fill since 2015, although the advent of generative AI may restore some balance. The changing skill mix within occupations has already shown up in the United Kingdom in increased references to the need for technological skills in occupational postings. 2 Rui Costa et al., “Old skills, new skills—what is changing in the UK labour market” The Pissarides Review into the Future of Work and Wellbeing , Institute for the Future of Work, February 2024.

However, a shortage of physical and manual skills has likely exacerbated recent labor market tightness. Jobs requiring these skills had the lowest vacancy rate among the five broad skill categories, and job vacancies seeking these skills increased most since 2015. This reflects growing demand for manufacturing and repair workers as well as for some types of healthcare workers, like nursing assistants. For instance, Delaware has begun offering tuition assistance and other incentives to attract workers to study nursing in an effort to address a shortage of trained nurses. 3 See Johnny Perez-Gonzalez, “Delaware responds to nursing shortage with ‘Tuition Incentive Program,’” WHYY, December 13, 2023.

The occupations with the biggest increase in share of vacancies are associated with labor-hungry sectors such as food service, healthcare, and construction. Workers in these occupations mostly use physical and manual skills, which in many cases are challenging to automate and, in the case of healthcare occupations, likely to face unabated increases in demand as populations age.

Workers in occupations in which the share of vacancies declined most, by contrast, use physical and manual skills for only a small part of their work. Instead, these occupations, which include management, sales, financial operations and computing, rely most heavily on social and emotional skills. Across all sectors, such occupations are often more highly paid; in some cases, they are likely to be a shrinking slice of the total workforce. Office support occupations could shrink as basic cognitive skills are increasingly automated, while sales is already a shrinking occupational category as e-commerce becomes a bigger part of retail trade and technological changes shift marketing dollars to other channels and assets. 1 Michael Riely, Inside the decline of sales occupations , US Bureau of Labor Statistics Beyond the Numbers series, May 2020. Research by McKinsey has found that generative AI might accelerate the trend of automation in both of these occupational categories. 2 See The economic potential of generative AI: The next productivity frontier , McKinsey Global Institute, June 2023.

Jobs requiring a high proportion of physical and manual skills often have lower wages. In tight labor markets, wage dynamics shift based on workers’ changing opportunity costs, including options to move into higher-paying jobs. As US labor markets tightened, wages grew across the board, especially among workers in the lowest-paying occupations, and the biggest beneficiaries were workers who switched jobs. 1 David Autor, Arindrajit Dube, and Annie McGrew, The unexpected compression: Competition at work in the low wage labor market , National Bureau of Economic Research working paper number 31010, November 2023. Given that the labor share of production is about 60 percent across advanced economies, rising labor costs are highly relevant for employers and policy makers. 2 Based on data through 2013 for Germany, Japan, and the United States. See Loukas Karabarbounis and Brent Neiman, The global decline of the labor share , National Bureau of Economic Research working paper number 19136, June 2013.

Grouping US occupations based on average salaries, the occupations in the bottom half of the income range require physical and manual skills more than 40 percent of the time. Those lower-paying occupations in the third and fourth quartiles by income had the fastest wage growth from 2015 to 2022. The top half of occupations by income require physical and manual skills much less, and just 5 percent of the time among the top quartile of occupations by pay.

Growing the supply-side pie

Labor supply has struggled to keep up with overall demand due to shifts in demographics—and that’s unlikely to change, according to projections to 2030.

Higher participation rates mitigated the impact of aging on labor supply

Even as labor markets have tightened, labor supply has grown. From 2010 to 2023, 34 million additional people joined the workforces across the eight countries, an average growth rate of 0.6 percent a year. The first factor influencing this growth is the expansion of population, both from so-called natural growth, or the net of new births and deaths, and from immigration. The second factor is linked to an aging mix of workers and had the opposite impact, pushing supply lower. The third factor is increased participation in the labor force, which helps mitigate the impact of aging.

The independent contribution of each of these three factors is clear. Had population alone grown, it would have accounted for 31 million of the 34 million added workers. Aging alone would have led to 18 million fewer workers as more seniors dropped out of the labor force. However, at the same time, labor force participation has increased, particularly among workers 55 years and older. The combined effects of these three factors net to 34 million additional workers.

The dynamics of these three factors varied greatly by country. Labor supply grew fastest in Australia and Canada, driven by strong population growth. Population growth also drove increased labor supply in the United Kingdom and the United States, though more moderately than in Australia and Canada. Germany’s labor supply growth was due largely to increased participation rates, while France’s growth came from both population growth and more participation. In Japan and Italy, the impact of aging has been much more pronounced than in other countries, although for now increased participation has allowed for continued modest labor force growth.

Population growth slowed, despite being buoyed by immigration

A major challenge to labor force growth in the future is that the population growth rate has slowed in all eight countries since 2010 and is projected to continue to decline. In fact, populations in Japan and Italy are shrinking, and, according to United Nations estimates, the German population will begin to shrink by 2030.

Falling birth rates in many advanced economies largely explain their slower population growth. In some countries, immigration has also declined, exacerbating the trend. Immigration could have compensated for natural population decline, or when deaths exceed births, since 2015—if it had been roughly 1.5 to 3.0 times higher than current levels in Australia, Canada, Germany, the United Kingdom, and the United States. In France, Italy, and Japan, it would have needed to be even higher.

Immigration enables short-term labor supply growth. By contrast, it takes perhaps 20 years for natural increase in a population to affect the labor market, because a baby born today cannot meaningfully work for roughly 20 years. Many immigrants are of working age and so can participate in the labor force today. 1 “Foreign-born workers: Labor force characteristics—2023,” US Bureau of Labor Statistics press release, May 21, 2024. For instance, the Congressional Budget Office estimates that the US labor force in 2033 will be larger by 5.2 million people, mostly because of higher net immigration. 2 Phillip L. Swagel, Director’s statement on the budget and economic outlook for 2024 to 2034 , Congressional Budget Office, February 2024. Research by the Brookings Institution suggests that an unexpectedly high level of net immigration explains the recent fast pace of added employment in the United States. 3 Wendy Edelberg and Tara Watson, New immigration estimates help make sense of the pace of employment , Brookings Institution, March 2024.

Older workers are an increasing share of populations

Beyond their slowing population growth, all the countries in our sample are aging, a trend that will intensify as members of the baby boom generation become older. This creates an obstacle to labor force growth because older people often work at much lower rates, especially past the age of 65.

The proportion of the working-age population, or people over 15 years old, that is 55 years and older increased from 2010 to 2023, and the United Nations projects that that share will grow even more by 2030. At that time, about half of the working-age populations of Germany, Italy, Japan, and the United Kingdom will be older than 55, and almost one-third will be older than 65. Populations are younger in Australia, Canada, and the United States, where by 2030 roughly two-fifths of the working-age populations will be older than 55.

As countries aged overall, labor force participation among older cohorts of the working-age population increased.

Older workers fueled growth in the labor supply

Even as aging populations pose a potential drag on labor force growth, people have been working more at almost every stage of life in all eight countries. (The exceptions are 15- to 24-year-olds in Canada, Italy, and the United Kingdom, who are working less; similarly, 25- to 54-year-olds in France are working slightly less.) For example, in the United States, shifts in the overall age mix pushed the aggregate labor force participation rate lower from 2010 to 2023, yet the participation rate grew, albeit marginally, in every age cohort over the period.

Everywhere, older people are working longer. The largest increases in labor force participation have been among those 55 years and older (with the notable exception of the United States, where work in that cohort increased only modestly). From 2010 to 2023, participation among this cohort grew 23 percentage points in Italy, 15 points in Germany and France, and 12 points in Japan. This increase in participation rates reflected shifting pension policies and attitudes toward retirement. For instance, Italy switched to a defined-contribution retirement system and increased its retirement age in 2011. 1 Margherita Borella and Flavia Coda Moscarola, The 2011 pension reform in Italy and its effects on current and future retirees , working paper number 151/15, Center for Research on Pensions and Welfare Policies, September 2015. And long before the COVID-19 pandemic put labor market tightness onto the global radar, Japanese companies struggling to find workers in an aging society were tapping the country’s Silver Jinzai Centers. These community centers for older people traditionally found retirees to help maintain parks or manage parking lots, but more recently, a wide variety of Japanese corporations are enlisting them to find workers for jobs they can’t otherwise fill. 2 Ippei Hoshi, Shinichiro Yamaguchi, and Nobuaki Takada, Changes in elderly employment: New roles of “Silver” Human Resources Centers , Nomura Research Institute, March 2017; Daisuke J. Nakajima and Jeffrey D. Korzenik, “How America can bring the Japanese economic miracle stateside,” Wall Street Journal , June 5, 2023.

The shaded bars in the accompanying exhibit illustrate how labor force participation rates might grow if trends in participation rates for each age cohort continue to 2030 in line with the trend set from 2012 to 2023. In the United States, labor force participation rates didn’t change much over that period, but in countries like Italy and Japan, where participation rates have shifted markedly, achieving the past trend could yield significant increases in labor force participation rates.

Spotlight: Increasing female labor force participation boosted labor supply

One component of rising participation rates is the narrowing gender gap. We compared the ratio of female and male labor force participation rates and average hours worked per week to approximate the gender gap in the workforces of our focus countries. We found the gender gap has been shrinking since 2010, more significantly in labor force participation than in hours. About 60 percent of the workers who joined the labor force from 2010 to 2023 were women. In Italy, Japan, and Germany, the narrowing gender gap is due entirely to women participating in the labor force more. In other countries, the ratio climbed as women increased their labor force participation while participation among men declined, by as much as three percentage points in some places.

Currently more women work part-time than men, likely due to different responsibilities in the household. Improving labor force participation among women may therefore be encouraged by flexible working arrangements and access to care support. For example, Japan has made progress on its gender gap in part through a set of policies called Womenomics that include providing daycare support and tax incentives to encourage married women to join the labor market. 1 “Japan introduces ‘womenomics’ to counter the country’s aging workforce and boost GDP,” Council on Foreign Relations, accessed May 20, 2024. Such interventions could increase the contribution of women to labor supply growth and reduce tightness in the labor market.

Labor supply growth is expected to slow further

Looking ahead, we examined two possible scenarios for labor force participation rates in 2030. In both cases, labor force growth slows.

• A stable scenario, in which labor force participation rates in each age cohort remain constant at 2023 levels between now and 2030
• A growth scenario assuming that trends in 2010–23 participation rate growth for each age cohort continue to 2030

In the stable scenario, France, Italy, Germany, and Japan may have smaller labor supplies by 2030. In fact, even if labor participation rates continue to grow at the same rate as in the past in Germany, Italy, and Japan, their labor forces won’t increase. By contrast, Australia, Canada, the United Kingdom, and the United States are likely to see increases in labor supply under either scenario, although at a slower pace than over the past 13 years, due to stronger expected rates of immigration.

Gearing up for continued tightness

Given shifting demographics, advanced economies will need to find ways to grow labor supply and increase productivity in order to maintain their current level of economic growth, and employers and policy makers can help by taking action.

To maintain GDP growth, all countries need additional labor supplies or productivity growth—and some need both

We quantify four scenarios of economic growth using two alternative rates of productivity growth along with our two possible scenarios of future labor force participation rates. For each economic growth scenario, we assume adequate demand for labor—in other words, that no recession occurs that would curb employment. This assumption may be reasonable in the short term, though recessions are notoriously hard to predict. The United States has so far navigated an economic soft landing, but any economic downturn could crimp job demand. Meanwhile, Germany and Japan have experienced only tepid demand growth, calling into question the underlying strength of demand in those countries.

By contrast, new technologies offer the potential for more robust productivity growth that could dispel some of those concerns. Our two productivity growth scenarios include a higher estimate that uses average productivity growth from 1999 to 2007, a period of robust productivity growth before the financial crisis, and a lower estimate that uses productivity growth from 2012 to 2022. These scenarios suggest that, absent productivity acceleration or growth in labor force participation rates, GDP will increase at a slower pace than the 2012 to 2022 trend in the eight countries.

If labor force participation continues to grow or there is an increase in productivity back to pre-2007 levels in Australia and Japan, the countries would maintain their 2012–22 trend of GDP growth.

Four of the six other countries—Canada, France, the United Kingdom, and the United States—would need productivity to return to pre-2007 levels in order to maintain their economic growth. Continued growth of the labor force participation rate is relatively less important to maintaining economic growth for these countries.

Germany would need continued labor force participation rate growth and a return to pre-2007 levels of productivity to maintain its level of economic growth.

By constrast, even if Italy continued its high rate of growth in labor force participation, it would still need to increase productivity growth by an additional 0.1 percent each year above its 0.4 percent pre-2007 annual productivity growth.

All of these countries have the potential to reach a higher level of productivity growth in the future. Previous MGI research documents the promise of technologies like artificial intelligence, which has the potential to deliver more than enough added productivity to keep their economies growing even in a future with a declining labor supply. To be sure, the path to realize that opportunity is far from certain. Implementing any new technology requires complicated adaptation of business processes and extensive retraining of workforces. However, employed correctly, these tools offer a way forward to economic prosperity despite labor supply constraints.

These projections are not predictions of the future, but they do illustrate the demographic constraints on economies over the next decade, casting a cloud on the prospects of durably resolving labor shortages. For economies to maintain stability or grow, they will need to go beyond business as usual to boost productivity or find additional workers in new ways.

Concerted actions can improve labor supply and productivity and better match people to jobs.

All labor market stakeholders—employers, market influencers, policy makers, training institutions, and other workforce development organizations—can address labor shortages. Each can act by improving supply, productivity, or matching. Action employers can take include the following:

• Improve their value proposition for prospective talent and talent they already employ. Prior McKinsey research has found that some of the most sought-after talent values flexibility and meaningful work. 3 Aaron De Smet, Bonnie Dowling, Marino Mugayar-Baldocchi, and Bill Schaninger, “‘ Great attrition’ or ‘great attraction’? The choice is yours ,” McKinsey Quarterly , September 8, 2021. Providing flexibility, like hybrid working arrangements or flexible hours, and evaluating performance based on output rather than hours worked allow top talent to create more sustainability in work. Training and career advancement opportunities could attract workers to hard-to-fill occupations typically plagued by vacancies. Indeed, companies that excel at training and internal mobility achieve better talent retention as well as top-tier financial performance and more consistent and resilient performance. 4 See Performance through people: Transforming human capital into competitive advantage , McKinsey Global Institute, February 2023. Companies can also double down on retaining talent they already have by, say, improving internal social connections and investing in and developing high-quality managers.
• Seek talent outside traditional hiring pools. Companies should seek talent in broader, more unconventional pools, including by shifting from credentials-based to skills-based hiring. They can offer more flexible work arrangements for parents and seniors contemplating retirement. Employers could also consider looking at often-overlooked groups, like recently incarcerated workers and those with gaps in their résumés, as potential sources of untapped talent.
• Unlock talent in their own organizations through internal mobility. Employers can address skill mismatches by actively shaping career pathways to help employees acquire new skills and by making mobility and rotation a vital part of company strategy. Fostering a culture of collaboration is essential to helping employees discover and build cross-functional skills, with the triple benefits of improved innovation, fewer skill gaps, and higher employee retention.
• Invest in labor-complementing and labor-substituting technology and operations to unlock productivity. Technology adoption can take center stage on company agendas in a tight labor environment, including a full assessment of the potential for augmentation and automation with artificial intelligence and other technologies at the level of specific occupations and work processes. Occupations in administrative support or food services, for instance, have high potential for automation, while healthcare and management occupations have little potential. Companies can then develop short- and long-term strategies to deploy technology and other process improvements to improve the efficiency and attractiveness of jobs that can be enhanced with automation. To capture the full productivity benefit of new technologies, companies also can invest in reskilling, for example through on-the-job training and coaching, creating centers of excellence to better harness skills within their workforces, and identifying skill gaps.

Policy makers and other market-making participants can take the following steps to address tight markets:

• Make it easier for older workers, women, and foreign-born talent to find work. To increase labor force participation among older workers, policy makers can implement more flexible retirement policies that encourage workers to continue working beyond standard retirement ages. They also can design policies to support working parents, such as establishing a minimum leave and improving access to childcare, two policies that have improved female participation in some countries. The supply of workers outside of the developed world remains large, but foreign-born workers can be an immediate and significant source of labor only if properly integrated into the workforce.
• Support the building of human capital across the workforce. Scaling up reskilling programs and improving access to and the capacity of career-oriented schools will help improve the human capital of the workforce. Policy makers can develop incentives to support retraining and other programs needed to facilitate occupational transitions that often accompany continued technological improvement. This approach could be accelerated by artificial intelligence in some countries.
• Reduce labor market barriers to help match job seekers to job openings. Discouraging barriers to employment, like credentialing and noncompete agreements, as well as improving housing affordability in high-productivity, job-rich regions would allow talent to migrate to where it is most needed and most valuable. Universities and workforce development programs can also work hand in glove with employers to help future employees build skills and find the right job opportunities in an ever-evolving labor market.

Acknowledgments

This research was led by Anu Madgavkar , a McKinsey Global Institute partner in New Jersey; Olivia White , a McKinsey senior partner and director of MGI based in San Francisco; Sven Smit , a McKinsey senior partner and chair of MGI based in Amsterdam; Chris Bradley , a McKinsey senior partner and director of MGI based in Sydney; and Ryan Luby , a senior knowledge expert and associate partner based in New York. Michael Neary led the working team, which included Claire Le Barbenchon, Maclaine Fields, Emma Forde, Clio Hancock, Young Kim, Brendan Mackie, Robert Malongo, Shaibyaa Rajbhandari, Noah Welgoss, Simone Tai, Rohan Vora, Samantha Wang, Noah Welgoss, and Daisong Zhang.

This project benefited immensely from the perspectives of McKinsey colleagues. Our thanks go to Marc Canal, Gurneet Singh Dandona, Marco Dondi (alumni), Bonnie Dowling, Bryan Hancock, Maya Horii, Roland Huyghues-Despointes, Tasuku Kuwabara, Deepa Mahajan, Dana Maor, Jan Mischke, Michael Park, and Lauren Yayboke.

We are grateful to the academic advisers who challenged our thinking and sharpened our insights: Martin Baily, senior fellow emeritus in economic studies at the Brookings Institution; Christopher Pissarides, Nobel Prize winner and Regius Professor of Economics at the London School of Economics; and Matthew Slaughter, Paul Danos Dean of the Tuck School of Business and the Earl C. Daum 1924 Professor of International Business, Dartmouth College.

This report was edited and produced by Stephanie Strom, senior editor, together with senior data visualization editor Chuck Burke. We also thank David Batcheck, Nienke Beuwer, Rishabh Chaturvedi, Shannon Ensor, Paromita Ghosh, Rebeca Robboy, Rachel Robinson, and Amanda Soto for their support.

We thank McKinsey Global Publishing for designing this visual narrative, including team members Mary Gayen, Katrina Parker, Charmaine Rice, Diane Rice, Dana Sand, and Nathan R. Wilson.

As with all MGI research, this work is independent and has not been commissioned or sponsored in any way by any business, government, or other institution. While we gathered a variety of perspectives, our views have been independently formed and articulated in this report. Any errors are our own.

Tight job markets are challenging for businesses, yet they also present opportunities to improve productivity and livelihoods. Efforts to engage more workers in fulfilling jobs matched to their skills and enriched with new technologies that improve productivity can yield broad-based prosperity and boost economic growth.

Related Articles

Investing in productivity growth

Human capital at work: The value of experience

The future of work after COVID-19

Intelligent Investment

Global Data Center Trends 2024

Limited power availability drives rental rate growth worldwide.

June 24, 2024 20 Minute Read

Executive Summary

Data center insights & research.

Explore what’s next for digital infrastructure, including enterprise IT, networking and data center operations strategies—and what it means for corporate owners and users of data centers worldwide.

• A continued worldwide power shortage is significantly inhibiting the global data center market’s growth. Sourcing power is a top priority for operators across all regions (North America, Europe, Latin America and Asia-Pacific). Secondary markets with ample power should attract more data center investment.
• Vacancy rates continue to decline across most global markets due to strong demand. Singapore, the world's most power-constrained market, has only 7.2 MW of available capacity and a near record-low 1% vacancy rate.
• Large corporations face increasing difficulty securing data center capacity. Low supply, construction delays and power challenges are impacting all markets. For example, Querétaro, Mexico has only 0.6 MW available for lease.
• The worldwide power shortage continues to fuel price increases for data center capacity. In U.S. dollar terms, Singapore still has the highest rental rates at US$315 to US$480 per month for a 250- to 500-kW requirement, while Chicago still has the lowest at $155 to $165.
• Artificial intelligence (AI) advancements are projected to significantly drive future data center demand. High-performance computing will require rapid innovation in data center design and technology to manage rising power density needs.

All analysis in this report is based only on the four largest data center markets by inventory in each global region, as follows:

• North America: Northern Virgina, Dallas-Ft. Worth, Chicago and Silicon Valley.
• Europe: Frankfurt, London, Amsterdam and Paris.
• Latin America: Querétaro (Mexico), Sáo Paulo (Brazil), Santiago (Chile) and Bogotá (Colombia).
• Asia-Pacific: Singapore, Tokyo, Hong Kong and Sydney.

Inventory (MW)

North America Despite power supply issues, North American data center inventory grew by 24.4% year-over-year in Q1 2024, adding 807.5 MW across Northern Virginia, Chicago, Dallas and Silicon Valley. Northern Virginia led with 391.1 MW of new supply, due to demand from public cloud providers and AI companies. Local governments are addressing power constraints by simplifying permitting and integrating renewable energy into the grid.

Europe The European data center market grew by nearly 20% year-over-year in Q1 2024. There was significant development in all four major FLAP markets (Frankfurt, London, Amsterdam and Paris), with Paris leading at over 40% year-over-year growth. However, supply shortages persist across the continent, especially in core markets like Frankfurt. Preleasing new facilities is now common, indicating a need for ongoing investment in data center development. Power sourcing remains a key challenge.

Latin America The region's data center inventory grew by 15% year-over year in Q1 to 650.2 MW, with São Paulo accounting for 67% of the top four countries’ total inventory. Bogotá’s inventory grew the most at 25%.

Asia-Pacific The region’s data center inventory increased by 22% year-over year in Q1 to 2,996 MW. Tokyo, Sydney, Hong Kong and Singapore each contain well over a half-GW of live power capacity, despite tighter planning constraints in Singapore. The capacity pipeline is strong, with numerous developments under construction across the region.

Figure 1: Data Center Inventory by Market

North America North American data center vacancy rates hit new lows across major markets. Chicago led again with the biggest year-over-year decrease to 2.4% from 6.7%. Northern Virginia's vacancy rate decline closely followed, dropping to 0.9% from 1.8% the year prior despite an 18% increase in inventory over the same period.

Europe The FLAP markets' combined vacancy rate fell by 2 percentage points year-over-year in Q1 to 10.6%. Amsterdam had the largest decrease of nearly 8 percentage points to 11.5%. Despite expected new supply, the low vacancy rate should persist due to strong demand.

Latin America The region’s vacancy rate held steady year-over-year at 11.1%. Querétaro had the biggest decline (1.9 percentage points) to a record-low 1.2%. There is persistently strong regional demand, mainly from hyperscalers.

Asia-Pacific The vacancy rate slightly increased in Asia-Pacific due to many new project completions, with primary market vacancy rising to 16% from 13.5%. Hong Kong’s vacancy rate hit around 30% due to 195 MW of new 2023 supply amid softer leasing conditions. However, Singapore remained an extremely tight market with a vacancy rate of 1.0%.

Figure 2: Data Center Vacancy Rate by Market

Net absorption.

North America Public cloud providers and AI companies are driving strong demand for North American data centers. All four featured North American markets–Northern Virginia, Chicago, Dallas-Ft. Worth and Silicon Valley–had major year-over-year net absorption increases. Northern Virginia had the largest year-over-year increase at 407.4 MW. Chicago absorbed 218.7 MW, Dallas gained 140.2 MW and Silicon Valley secured 62.6 MW.

Europe Despite macroeconomic headwinds, Europe’s data center demand remains high. FLAP markets had a significant surge in net absorption, reaching a combined 487.6 MW from Q1 2023 to Q1 2024, nearly double the previous year’s absorption.

Latin America Latin America's data center demand continues to rise, with net absorption reaching 73.3 MW in Q1 2024. São Paulo, the region's leading market, absorbed 40.4 MW this year. Hyperscalers are expanding their regional presence, seeking reliable data center infrastructure for their growing needs.

Asia-Pacific Asia-Pacific leasing demand remains strong due to corporate and government digitization, and cloud services adoption. AI-related industries, particularly in Tokyo and Sydney, also show massive potential with multi-MW requirements. Singapore’s take-up increased despite supply constraints. Net absorption in Hong Kong improved due to demand from mainland Chinese companies and multinational hyperscalers.

Figure 3: Data Center Net Absorption by Market, Q1 2023 to Q1 2024

Pricing & rental rates.

North America North American data center pricing is significantly accelerating due to supply shortages and high demand. Average asking rates for a typical 250- to 500-kW requirement across all four featured North American markets surged by 20% year-over-year, the highest global increase.

Europe European data center pricing continues increasing due to high demand and rising construction costs. Rental rates in key markets like Frankfurt and London have steadily climbed over the past 18 months. Frankfurt saw a steeper 15% increase, reflecting its status as one of the most expensive markets in Europe.

Latin America Latin America’s data center pricing shows a mixed picture this year. Overall rental rates are rising slightly from last year, with market-specific variations. For example, Bogotá saw an unexpected 8% year-over-year colocation rate decrease, possibly due to increased competition or a temporary market correction. Conversely, Santiago’s rental rates increased by 15%, reflecting strong demand and limited supply.

Asia-Pacific Asia-Pacific pricing has steadily increased due to strong demand and rising construction and operational costs, despite a relatively large amount of new inventory. Singapore, one of the most expensive global markets, is asking over US$300 per kW. Tokyo’s pricing has generally increased, with rates around US$200 per kW. Sydney’s pricing remains steady at US$195 despite significant new supply.

Figure 4: Monthly Pricing Range for 250-500kW (Min-Max) $USD Without Electricity Cost

Availability.

North America North American data center availability keeps tightening due to robust demand. Significant supply additions from Q1 2023 to Q1 2024 were quickly absorbed, further reducing leasing availability. Northern Virginia saw the largest decrease (-16.2 MW), followed by Chicago (-10.6 MW) and Dallas (-1.5 MW). Silicon Valley was the only major market with increased availability (+19 MW).

Europe Despite significantly increased data center supply across FLAP markets, leasing availability stayed relatively flat from Q1 2023 to Q1 2024 due to robust demand quickly absorbing new supply. Amsterdam had Europe’s largest decline, dropping to 65.4 MW from 98.6MW.

Latin America Latin America's data center availability modestly increased in 2024, largely due to more space in São Paulo, the region's largest market. São Paulo’s availability increased to 62.1 MW from 52.3 MW in Q1 2024. However, this growth remains slight, indicating that demand still exceeds new supply in many Latin American markets.

Asia-Pacific Leasing availability in Asia-Pacific slightly rose due to a wave of recently completed facilities, yet demand remains high. Many companies are opting for pre-commitments, absorbing a sizable portion of the new supply. Singapore remains supply-constrained, benefiting alternative markets. Overall, Asia-Pacific maintains a balanced supply-and-demand dynamic, facilitating strong conditions for market entry and expansion.

Figure 5: Data Center Availability by Market

North america featured markets, northern virginia.

Northern Virginia, the world’s largest data center market, increased its inventory by 391.1MW year-over-year despite Dominion Power’s power supply issues. Public cloud providers and AI companies leased most of the market’s space, resulting in a record-low 0.9% vacancy rate. Consequently, rental rates surged by 41.6% year-over-year as tenants secured leases pre-construction to meet capacity needs. The high electricity demand also boosted power costs by 20.8% year-over-year.

Opportunities:

Dominion Energy's current transmission line projects should boost power capacity by 2026, potentially easing existing limitations. This may encourage further data center development in the region.

Persistently low vacancy and preleasing activity indicate sustained demand. Developers may explore opportunities in surrounding areas such as Central Virginia (including Fredericksburg and Richmond), Maryland and neighboring Virginia counties.

Challenges:

Power supply issues remain despite progress on transmission line construction. Power availability and permitting processes dictate data center construction timelines.

Land scarcity in core counties such as Loudoun and Prince William may increase development costs. Additionally, extended timelines could reduce profit margins for some developers.

Dallas-Ft. Worth

Dallas-Ft. Worth has cemented its status as the nation’s second-largest colocation market, with 31.9% year-over-year inventory growth to 573 MW. Currently, it has a record 372.2 MW of data center space under construction, with 91.8% pre-leased. Limited supply is driving rental rates up across all requirement sizes. Hyperscale and AI companies’ continued interest is further fueling market growth.

The independent decision-making and faster development timelines of Texas' energy grid, ERCOT, give it a unique advantage over many other markets facing power and supply chain delays. Oncor Electric's available power further strengthens Dallas-Ft. Worth's appeal for data center development.

Increasing land prices in South Dallas over the past three years indicate strong developer and hyperscale interest in this area, signaling potential for further regional expansion.

Unprecedented preleasing and record-high construction levels raise questions about the market's ability to sustain current growth and meet future demand.

Available colocation space in Chicago is scarce, with a record-low 1.9% vacancy rate, due to high demand from hyperscalers, enterprise users and especially financial services companies. This limited supply and high demand led to a 33% increase in rental rates over the past year. The challenge of power procurement is driving data center development westward towards areas like Elk Grove, Northlake, Wood Dale, Hoffman Estates and Itasca. Meanwhile, established providers are strategically acquiring developed land near existing campuses for future expansion.

Limited land availability in core areas is driving exploration of new submarkets and redevelopment opportunities, offering a chance for innovative solutions.

Affordable development land is scarce and power procurement poses a significant challenge.

Silicon Valley

Public cloud providers continue to dominate the tech industry’s epicenter, setting a gross leasing absorption record in 2023. Most leases were full building takeovers by cloud service providers, whose cloud businesses are growing partly due to AI adoption. The 6.5% market vacancy is solely in second-generation space, mainly smaller 1-2MW suites, which struggle to meet market standards for performance and efficiency. Power constraints will limit new data center supply for the foreseeable future. Asking rental rates in the 250- to 500-kW range have reached $155 to $250 per kW, the highest in our report.

The constrained power grid has opened opportunities for new technology and alternative power sources like fuel cells or on-site generation systems, to alleviate the market’s supply crunch.

Several developers who purchased property to build a data center have been informed that they won’t receive utility power for over a decade. They must decide whether to wait, sell, reposition or pursue a less-common alternative power source.

EMERGING MARKET

Northern indiana.

Two major hyperscaler announcements this year highlighted Northern Indiana as a new data center frontier. Located near major Midwest cities, it’s become one of North America’s fastest-growing markets for new greenfield data center projects. Cities within a 300-mile radius, including Chicago, Toledo, Cincinnati, Detroit, Cleveland and Columbus, are fueling interest in new data center development. Power and land availability, along with tax incentives, are set to drive further growth in 2025.

Boise, Idaho

In 2022, a leading hyperscaler announced a major development in Kuna, near Boise, Idaho, sparking significant interest for data center development land. We anticipate ongoing development in this region due to Idaho Power’s prevalent hydropower, a new solar facility in Pleasant Valley, abundant land and minimal natural disaster risk.

Europe Featured Markets

Germany’s financial capital maintains the lowest vacancy rate (6%) of any primary market. Data center space is typically preleased before a facility opens, making it nearly impossible for many organizations to find space in this market. Remaining capacity is quickly leased, with Frankfurt’s absorption rate being the lowest of any FLAP market. CBRE expects the vacancy rate to drop below 5% this year.

Despite this low availability, organizations are not deterred. There is strong demand for data center space in Frankfurt, with hyperscalers and many enterprises seeking to grow their substantial presence in the metro market. Operators have responded by adding significant capacity to their pipeline and initiating construction for 2024 and 2025 projects.

However, any space in Frankfurt not already pre-leased will likely be swiftly leased. This situation is further complicated by the difficulties providers face in delivering supply due to issues with securing power, finding suitable land and obtaining the necessary construction permits.

Providing service to Frankfurt from nearby areas like Mainz, located west of Frankfurt, may present an opportunity for providers due to its proximity to hyperscaler availability zones.

Providers face more regulations, limiting available building areas and increasing their already high construction costs.

The British capital still attracts significant demand despite its supply shortage. Hyperscalers primarily drive demand in London’s western corridor but are seeking data center space further afield. Expected demand growth from start-ups, enterprises and GPU-as-a-service providers will likely be challenged by capacity scarcity, limited power availability and few local AI-ready data centers. Hyperscalers and enterprises may struggle to find available power in the largest submarkets. However, areas well outside of London’s main regions, with less data center concentration, may offer more options. Consequently, London’s development radius will likely expand, even after key electricity substation upgrades.

Providers who find a site with available power and proximity to hyperscaler availability zones are far likelier to lease space in a data center that can be built on it.

Securing power sources for data centers is increasingly challenging for providers, potentially driving hyperscalers to invest elsewhere due to the considerable difficulty of development.

Amsterdam, a top global connectivity hub and Europe’s third-largest market, remains a strategic region for international data transfer and peering. However, stringent data center regulations and limited power availability make building data centers more challenging. This has slowed development relative to other primary European markets. There is no new supply this year and 2023’s growth was lower than any other FLAPD market, except the much larger London. Year-over-year new supply declines and take-up are common in Amsterdam, like any other data center market after a strong year.

In the short-term, limited power availability will deter development and limit new supply delivery. Numerous markets face this same issue. Still, the expected 2025 completion of a key local electricity substation upgrade should boost future data center development, as Europe faces a need for available wholesale capacity.

Amsterdam is underrepresented in hyperscaler deployments. It’s imperative for operators to make Amsterdam appealing to hyperscalers, as they account for the vast majority of data center demand.

Attracting data center investment may be difficult for Amsterdam due to regulatory constraints such as a national moratorium on data centers with a maximum IT load of over 70MW.

Paris recently surpassed Amsterdam and Dublin in terms of growth. It is expected to become Europe’s third-largest market for total supply this year, after Frankfurt and London. Demand, pricing and construction costs are rising due to record levels of data center capacity being delivered to meet the growing requirements of hyperscalers.

Over the past two years, take-up has surged due to the top hyperscalers’ local cloud regions, with much expansion and new construction delivering space in South Paris last year. Major cloud providers now offer, or soon will, a “Sovereign Cloud” product aimed at French public sector organizations and other security-needy sectors like healthcare and financial services.

More hyperscaler business is obtainable if operators can overcome regulatory and labor law challenges to deliver ample new capacity this year. The potential success makes the risk worthwhile, considering the scale of hyperscaler deployments, particularly in South Paris.

Securing land and power for new developments is increasingly difficult, particularly in the North. The zoning restrictions initiated due to the 2024 Olympics have further complicated matters for providers and others aiming to build in the region.

Data center development in Madrid is expected to accelerate this year despite its relatively high vacancy rate. In contrast, it experienced a development slowdown last year, following a peak in 2022 when market supply nearly doubled. This vacant space surplus distinguishes Madrid from other secondary markets like Milan and Vienna.

Norway’s capital and largest city hosts a mix of retail and wholesale colocation data centers. It had 70MW of supply as of Q4 2023. It is one of Europe’s faster-growing markets due to available, affordable power and land, prompting significant construction of wholesale data center campuses in the broader region.

Latin America Featured Markets

Querétaro, mexico.

Querétaro, an internet backbone connecting Mexico City and the U.S., is a favored location for hyperscale development in Mexico. Its ample land, professional industrial park operators and easy road access make it ideal for new developments. Additionally, it hosts several banks and telecom companies.

The region already hosts cloud availability zones for Amazon Web Services and Microsoft, with the latter having recently opened. Odata, KIO and Ascenty have consistently expanded their presence here over recent years. However, power challenges have slowed new data center launches and expansions. Hopes for resolving these challenges by 2025 are fading, making 2026 a more likely timeline for energy solutions implementation.

Electrical infrastructure limitations hinder market growth but strong demand persists. Securing extra electrical capacity can give operators a significant advantage. Solid government support for the tech sector enhances this market’s appeal for data center investment. Furthermore, land costs remain attractive compared with other markets.

Power supply is the main challenge in the region, impacting Querétaro and other Mexican markets. There are many industrial parks but few have secure energy capacity. Those that do often charge high prices.

São Paulo, Brazil

São Paulo is Latin America’s primary data center market, boasting its largest data center campus under development. This market’s advantages include the country’s best connectivity, strong energy supply and power infrastructure, and proximity to many corporate headquarters and a high-skilled IT labor force. Furthermore, it has the country’s largest concentration of rapidly expanding data center retailers and wholesalers. Its clean energy sources, primarily hydroelectricity, are diversifying with increasing investments in solar and wind power, ensuring stable energy supply.

The market’s potential for AI workload deployment has been studied, taking its clean energy matrix and energy availability into account. Certain areas in Barueri and Osasco have attracted development interest for smaller demands, as land and energy availability diminish.

Space and energy constraints are forcing new development farther from the market’s core.

Santiago, Chile

The Santiago market is connected to several submarine cables through Valparaíso, including the US$400-million Humboldt submarine cable project, a public-private partnership with Google, set to launch in 2026 and link the country to Sydney. This diverse data center market—encompassing retail, hyperscale and public cloud providers—creates a strong ecosystem in a key Latin American country, despite its small size and population. With market vacancy at a record-low 1.1%, hyperscalers and public cloud providers are demanding more energy. Regulation has been widely discussed, with debates over data center permits and usage in different zones.

The connection to Australia should bring more demand. New companies will likely enter the market with the lowest vacancy rate in Latin America, despite recent project completions.

This is a challenging region for data center development, with just a few areas permitting construction. Water restrictions also contribute to the difficulties developers have faced.

Bogotá, Colombia

Bogotá's data center market approached the size of Querétaro's last year due to increasing demand for cloud services, data storage and digital transformation initiatives. Hyperscalers have expanded their regional presence and newcomers have launched data centers through powered shell acquisitions in the main Free Trade Zones. These zones offer tax benefits and strategic locations near main highways and industrial corridors. The market utilizes green energy, despite some transmission constraints.

Several established free trade zones in the city’s main industrial corridors offer financial benefits. Due to some project delays in the region, there are opportunities this year to acquire remaining land subject to tax benefits.

Some free trade zones are far from the city’s core, with only a few fiber paths. Additionally, establishing the energy infrastructure needed for hyperscale projects may delay data center delivery dates.

Rio de Janeiro, Brazil

Brazil’s second-largest market has consistently grown, delivering key hyperscale developments. As some industrial regions become saturated, new areas are emerging, prioritizing energy supply expansion.

Peru has garnered attention for its significant data center activity. The market is transitioning from telecom sites to a third-party focus, facilitated by the entry of international companies like Equinix and Odata.

Asia-Pacific Featured Markets

As a major regional data center hub, Singapore has consistently high demand. However, scarce new supply has led to a 1.0% vacancy rate. An upcoming 80-MW supply awarded from the Data Center-Call for Application (DC-CFA) and 58 MW from the recently announced Singtel Tuas DC will provide temporary relief, supporting market expansion. As new capacity development extends to neighboring markets like Johor and Batam, Singapore will remain the regional interconnection hub. Data center operators will shift focus from size to technology and sustainability, driven by the AI demand boom requiring higher rack density specifications and advanced cooling technology.

Singapore is a top Asia-Pacific market, enjoying political stability, robust digital infrastructure and connectivity, and a tech-friendly business environment. Its serious focus on technological innovation and decarbonization also make it a regional leader, as well as a springboard to many fast-growing Asia-Pacific countries.

Power constraints and government restrictions have limited new supply. Competition from nearby countries with cheaper land, development costs, taxes and utility provide alternative opportunities to operators, investors and customers. Singapore must form part of multi-market strategy to sustain its regional leadership.

This key Asia-Pacific data center market is experiencing strong interest from occupiers and investors. The demand is largely driven by public cloud providers that seek space in strategically located central Tokyo edge facilities, and AI-related companies, which target suburban locations. Greater Tokyo’s current vacancy rate is around 10% to 15%. Despite the expected completion of numerous data centers over the next few years, prices remain stable or are rising due to strong demand. The government promotes data center development in regional areas like Osaka, Fukuoka and Hokkaido as part of its “digital garden city nation" vision.

Tokyo, Japan’s telecommunications hub, is an established data center market with strong international connectivity. It’s currently experiencing high data center demand due to the growth and adoption of cloud services. The surge in AI-related deployments also offers opportunities for colocation/edge providers.

Limited land and power constraints increase costs and potentially delay new developments. Emerging competitors from decentralized locations such as Hokkaido and Kyushu offer alternative options for non-latency-critical AI deployments.

Hong Kong is a major connectivity and commercial hub, acting as a gateway to China. Recent data center supply has outpaced demand, causing an uptick in vacancy levels. Mainland Chinese companies and international hyperscalers drive most absorption. Hong Kong IT service providers have also boosted regional take-up. The current wave of supply is expected to persist until mid-2025, then taper off, allowing greater long-term supply-and-demand balance. Given the softer vacancy rates, the outlook for colocation pricing in the retail & enterprise sectors remains relatively subdued.

Large multinational and domestic hyperscalers have leveraged the high vacancy rate to secure large transactions over the past year. Despite challenges, Hong Kong’s political and environmental stability, along with its role as a regional commercial hub, continues to attract data center occupiers with new supply and competitive prices.

Geopolitical issues still affect multinational retail & enterprise companies’ data center plans in Hong Kong, impacting absorption. The slowing Chinese economy has also reduced activity from mainland Chinese occupiers, though they remain the main market participants. With limited new land and power supply, developers and operators might retrofit existing industrial buildings for supply after 2026.

As one of Asia-Pacific’s largest data center markets, Sydney continues to attract public cloud providers, operators and investors. The persistent demand for colocation capacity is driven by governmental and corporate shifts from traditional on-premises/enterprise models to colocation and cloud service solutions. Despite a slight softening in vacancy levels, the market has seen an influx of new colocation developments, which has increased supply and kept pricing stable. Future growth is expected to be driven by significant activity in the cloud, content, gaming and AI-related industries, necessitating greater use of liquid cooling technologies for intensive computing workloads. The continued expansion by U.S.-based public cloud providers will support Sydney’s and Australia’s data center ecosystem.

Sydney offers a robust data center market, attracting public cloud providers, content, gaming and AI-related industries. With growth constraints in other Asia-Pacific markets, Sydney offers a viable alternative for meeting regional data center demand.

Sydney’s large development pipeline may pressure vacancy levels in the short-to-medium term. Power accessibility remains a challenge, impacting development timelines.

Mumbai, India

Mumbai, India’s largest data center market, boasts over 600 MW of live capacity, comprising about 54% of the overall market. Inventory is expected to surge due to strong demand from banking, financial services and insurance companies, hyperscalers, and media segments supported by international/domestic network connectivity and the government. Generative AI deployments are also fueling demand. Both established domestic and global operators are expanding in the market. International investors planning major developments in Greater Mumbai (Navi Mumbai) include Blackstone, Digital Edge, Digital Connexion and Princeton Digital Group.

Seoul, South Korea

Greater Seoul’s total capacity of 605 MW makes it Korea’s largest data center market. Previously dominated by domestic telecoms and Korean companies, the market now welcomes many new facilities from international developers, expecting a two-thirds increase in supply by 2026. The government’s restrictions on power availability are causing developers to explore land outside of Greater Seoul. Most facilities are pre-leased to hyperscalers because customer demand is high, limiting remaining capacity for enterprise users.

Related Insights

2024 global data center investor intentions survey.

June 3, 2024

The data center sector's momentum is continuing this year, fueled by institutional investment and strong underlying fundamentals.

Data Center Growth Has Economic Ripple Effects

May 23, 2024

Digital infrastructure has never been more important to providing reliable connectivity for business, commerce and communication.

Europe Data Centres Figures Q1 2024

May 17, 2024

The demand for data centre space in Europe's five largest markets – Frankfurt, London, Amsterdam, Paris, and Dublin (FLAPD) – exceeded supply in Q1 2024. This demand is projected to grow to 440MW this year as hyperscalers, start-ups and enterprises seek space that can accommodate their cloud and AI-related needs. For a comprehensive analysis of the key data centre markets tracked by CBRE, read the full report.

Asia Pacific Data Centre Trends - Q1 2024

April 3, 2024

Despite a challenging economic environment, data centres remain in focus for the commercial real estate industry in Asia Pacific, with notable market developments across the region. This report explores key data centre investment trends and outlook for the sector in Asia Pacific, and offers insights into the data centre occupier and investment market in Australia, Hong Kong SAR, Japan, Singapore, India and Korea.

North America Data Center Trends H2 2023

March 6, 2024

Technological innovation is driving record demand despite power constraints.

Related Service

Data center solutions.

Optimize your data center real estate with worldwide consulting, advisory and transaction, project management an...

North America

Executive Managing Director

• Phone +1 303 6281765

Molly Sackles

Senior Business Development Associate

• Phone +1 303 583 2048

Gordon Dolven

Director of Americas Data Center Research

Josh Ruttner

Associate Research Director

• Phone +1 212 984 8000

Head of EMEA Data Centre Solutions, Advisory & Transaction Services

• Phone +44 20 7182 3461

Kevin Restivo

Head of Data Centre Research, Advisory & Transaction Services, Europe

Latin America

Alison takano.

Industrial Manager

• Phone +55 30159964

Rafael Gubitoso

Asia-Pacific

Dedi iskandar.

Head of CBRE Data Center Solutions, Advisory & Transaction Services, Asia Pacific

Andrew Mackin

Head of Regional Consulting, Asia Pacific

Insights in Your Inbox

Stay up to date on relevant trends and the latest research.

• SUGGESTED TOPICS
• The Magazine
• Newsletters
• Managing Yourself
• Managing Teams
• Work-life Balance
• The Big Idea
• Data & Visuals
• Reading Lists
• Case Selections
• HBR Learning
• Topic Feeds
• Account Settings
• Email Preferences

Why Are Companies That Lose Money Still So Successful?

• Vijay Govindarajan,
• Shivaram Rajgopal,
• Anup Srivastava,
• Aneel Iqbal,
• Elnaz Basirian

New research on how to identify investments that produce delayed but real profits — not just those that produce short-term accounting profits.

In a well-functioning capital market, profits should be the sole criterion for firm survival; that is, firms reporting losses should disappear. Of late, however, loss-making firms are highly sought after by investors — often more than some profitable firms. Unicorns, or startups with valuations exceeding a billion dollars, are examples of such loss-making firms. What has changed over time? When and why did losses lose their meaning? The authors’ series of new research papers provide some answers, guiding managers to make the right investments: those that produce delayed but real profits — not just those that produce short-term accounting profits but decimate shareholder wealth in long run.

In 1979, psychologists Daniel Kahneman and Amos Tversky famously posited that losses loom larger than gains in human decision-making. For example, a dollar of loss affects our behavior more than a dollar of profits . Likewise, when a firm announces losses, its stock price declines more dramatically than it increases for the same dollar amount of profits. Investors abandon and lenders tend to stop financing loss-making firms , which then start restructuring their business lines and laying off employees. Some firms go even further, conducting M&A transactions without substance and “managing earnings” to report profits instead of a loss.

• Vijay Govindarajan is the Coxe Distinguished Professor at Dartmouth College’s Tuck School of Business, an executive fellow at Harvard Business School, and faculty partner at the Silicon Valley incubator Mach 49. He is a New York Times and Wall Street Journal bestselling author. His latest book is Fusion Strategy: How Real-Time Data and AI Will Power the Industrial Future . His Harvard Business Review articles “ Engineering Reverse Innovations ” and “ Stop the Innovation Wars ” won McKinsey Awards for best article published in HBR. His HBR articles “ How GE Is Disrupting Itself ” and “ The CEO’s Role in Business Model Reinvention ” are HBR all-time top-50 bestsellers. Follow him on LinkedIn . vgovindarajan
• Shivaram Rajgopal is the Roy Bernard Kester and T.W. Byrnes Professor of Accounting and Auditing and Vice Dean of Research at Columbia Business School. His research examines financial reporting and executive compensation issues and he is widely published in both accounting and finance.
• Anup Srivastava holds Canada Research Chair in Accounting, Decision Making, and Capital Markets and is a full professor at Haskayne School of Business, University of Calgary. In a series of HBR articles, he examines the management implications of digital disruption. He specializes in the valuation and financial reporting challenges of digital companies. Follow Anup on  LinkedIn .
• Aneel Iqbal is an assistant professor at Thunderbird School of Global Management, Arizona State University. He examines the accounting measurement and financial disclosures for new-economy firms and incorporates his wide-ranging industry experience into his research and teaching. He is a seasoned accounting and finance professional with diverse experience in auditing, financial analysis, business advisory, performance management, and executive training. Follow Aneel on LinkedIn .
• Elnaz Basirian is a PhD student at the Haskayne School of Business. She examines the influence and role of intangibles in accounting and finance, aimed at improving valuation and market efficiency. She brings a decade of work experience in international financial markets. Follow Elnaz on LinkedIn .

Partner Center

• Auto Insurance Best Car Insurance Cheapest Car Insurance Compare Car Insurance Quotes Best Car Insurance For Young Drivers Best Auto & Home Bundles Cheapest Cars To Insure
• Home Insurance Best Home Insurance Best Renters Insurance Cheapest Homeowners Insurance Types Of Homeowners Insurance
• Life Insurance Best Life Insurance Best Term Life Insurance Best Senior Life Insurance Best Whole Life Insurance Best No Exam Life Insurance
• Pet Insurance Best Pet Insurance Cheap Pet Insurance Pet Insurance Costs Compare Pet Insurance Quotes
• Travel Insurance Best Travel Insurance Cancel For Any Reason Travel Insurance Best Cruise Travel Insurance Best Senior Travel Insurance
• Health Insurance Best Health Insurance Plans Best Affordable Health Insurance Best Dental Insurance Best Vision Insurance Best Disability Insurance
• Credit Cards Best Credit Cards 2024 Best Balance Transfer Credit Cards Best Rewards Credit Cards Best Cash Back Credit Cards Best Travel Rewards Credit Cards Best 0% APR Credit Cards Best Business Credit Cards Best Credit Cards for Startups Best Credit Cards For Bad Credit Best Cards for Students without Credit
• Credit Card Reviews Chase Sapphire Preferred Wells Fargo Active Cash® Chase Sapphire Reserve Discover It® Cash Back Discover It® Student Chrome Discover It® Student Cash Back Chase Ink Business Unlimited American Express Blue Business Plus
• Credit Card by Issuer Best Chase Cards Best Discover Cards Best American Express Cards Best Visa Credit Cards Best Bank of America Credit Cards
• Credit Score Best Credit Monitoring Services Best Identity Theft Protection
• CDs Best CD Rates Best No Penalty CDs Best Jumbo CD Rates Best 3 Month CD Rates Best 6 Month CD Rates Best 9 Month CD Rates Best 1 Year CD Rates Best 2 Year CD Rates Best 5 Year CD Rates
• Checking Best High-Yield Checking Accounts Best Checking Accounts Best No Fee Checking Accounts Best Teen Checking Accounts Best Student Checking Accounts Best Joint Checking Accounts Best Business Checking Accounts Best Free Checking Accounts
• Savings Best High-Yield Savings Accounts Best Free No-Fee Savings Accounts Simple Savings Calculator Monthly Budget Calculator: 50/30/20
• Mortgages Best Mortgage Lenders Best Online Mortgage Lenders Current Mortgage Rates Best HELOC Rates Best Mortgage Refinance Lenders Best Home Equity Loan Lenders Best VA Mortgage Lenders Mortgage Refinance Rates Mortgage Interest Rate Forecast
• Personal Loans Best Personal Loans Best Debt Consolidation Loans Best Emergency Loans Best Home Improvement Loans Best Bad Credit Loans Best Installment Loans For Bad Credit Best Personal Loans For Fair Credit Best Low Interest Personal Loans
• Student Loans Best Student Loans Best Student Loan Refinance Best Student Loans for Bad or No Credit Best Low-Interest Student Loans
• Business Loans Best Business Loans Best Business Lines of Credit Apply For A Business Loan Business Loan vs. Business Line Of Credit What Is An SBA Loan?
• Investing Best Online Brokers Top 10 Cryptocurrencies Best Low-Risk Investments Best Cheap Stocks To Buy Now Best S&P 500 Index Funds Best Stocks For Beginners How To Make Money From Investing In Stocks
• Retirement Best Roth IRAs Best Gold IRAs Best Investments for a Roth IRA Best Bitcoin IRAs Protecting Your 401(k) In a Recession Types of IRAs Roth vs Traditional IRA How To Open A Roth IRA
• Business Formation Best LLC Services Best Registered Agent Services How To Start An LLC How To Start A Business
• Web Design & Hosting Best Website Builders Best E-commerce Platforms Best Domain Registrar
• HR & Payroll Best Payroll Software Best HR Software Best HRIS Systems Best Recruiting Software Best Applicant Tracking Systems
• Payment Processing Best Credit Card Processing Companies Best POS Systems Best Merchant Services Best Credit Card Readers How To Accept Credit Cards
• More Business Solutions Best VPNs Best VoIP Services Best Project Management Software Best CRM Software Best Accounting Software
• Debt relief Best debt management Best debt settlement Do you need a debt management plan? What is debt settlement? Debt consolidation vs. debt settlement Should you settle your debt or pay in full? How to negotiate a debt settlement on your own
• Debt collection Can a debt collector garnish my bank account or my wages? Can credit card companies garnish your wages? What is the Fair Debt Collection Practices Act?
• Bankruptcy How much does it cost to file for bankruptcy? What is Chapter 7 bankruptcy? What is Chapter 13 bankruptcy? Can medical bankruptcy help with medical bills?
• More payoff strategies Tips to get rid of your debt in a year Don't make these mistakes when climbing out of debt How credit counseling can help you get out of debt What is the debt avalanche method? What is the debt snowball method?
• Manage Topics
• Investigations
• Visual Explainers
• Newsletters
• Abortion news
• Climate Change
• Corrections Policy
• Sports Betting
• Coach Salaries
• College Basketball (M)
• College Basketball (W)
• College Football
• Concacaf Champions Cup
• For The Win
• High School Sports
• H.S. Sports Awards
• Scores + Odds
• Sports Pulse
• Sports Seriously
• Women's Sports
• Youth Sports
• Celebrities
• Entertainment This!
• Celebrity Deaths
• Policing the USA
• Women of the Century
• Problem Solved
• Personal Finance
• Consumer Recalls
• Video Games
• Product Reviews
• Home Internet
• Destinations
• Airline News
• Experience America
• Great American Vacation
• Ingrid Jacques
• Nicole Russell
• Meet the Opinion team
• How to Submit
• Obituaries Obituaries
• Contributor Content Contributor Content

Personal Loans

Best personal loans

Auto Insurance

Best car insurance

Best high-yield savings

CREDIT CARDS

Best credit cards

Advertiser Disclosure

Blueprint is an independent, advertising-supported comparison service focused on helping readers make smarter decisions. We receive compensation from the companies that advertise on Blueprint which may impact how and where products appear on this site. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Blueprint. Blueprint does not include all companies, products or offers that may be available to you within the market. A list of selected affiliate partners is available here .

Today’s top money market account rate roundup: Earn up to 5.13% — July 1, 2024

Taylor Tepper

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Published 2:19 a.m. UTC July 1, 2024

• path]:fill-[#49619B]" alt="Facebook" width="18" height="18" viewBox="0 0 18 18" fill="none" xmlns="http://www.w3.org/2000/svg">
• path]:fill-[#202020]" alt="Email" width="19" height="14" viewBox="0 0 19 14" fill="none" xmlns="http://www.w3.org/2000/svg">

Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy .

Getty Images

The average money market account (MMA) rate has ticked up since last week and sits at 0.60%. But if you shop around you could get a much higher rate of around 5%. These accounts can be a worthy option for savers who prioritize account flexibility and potentially higher interest rates than those typically found offered by traditional savings accounts .

Money market account rates

Money market accounts with a $10,000 minimum balance currently offer an average APY of 0.60%, per Curinos data, slightly higher than last week.

The highest rate in the Curinos dataset sits at 5.13%, so you may be able to find higher rates in your own research.

If you were to invest $10,000 into an MMA with a 5.13% interest rate that compounds daily, you would earn more than $520 in interest over a year, assuming no withdrawals or additional contributions are made.

Money market accounts vs. savings accounts

Money market account rates typically offer higher yields than those provided by savings accounts. MMAs often require a higher minimum deposit or balance, but banks and financial institutions typically reward clients for maintaining larger balances with higher rates.

Currently, the average rate on an MMA with a $10,000 minimum balance in Curinos’ dataset stands at 0.60% APY, while the average rate you’ll find on a savings account with a $10,000 balance is a mere 0.24% APY.

Keep in mind that savings accounts are better suited to achieve a particular goal, such as maintaining an emergency fund or amassing a down payment on a home. By placing your funds in a high-yield savings account , you’ll earn interest and you’ll hopefully also be less inclined to spend the money.

What is a money market account?

Think of a money market account as a mixture between a savings and checking account , often offering competitive interest rates and typically requiring a higher minimum balance. You can enjoy the perks of a high-yield savings account while having access to a debit card and check-writing, all with FDIC insurance up to $250,000. Though not designed for everyday spending, these accounts provide some flexibility with limited transactions.

Methodology

To establish average money market account rates, Curinos focused on accounts intended for personal use. Money market accounts that fall into specific categories are excluded, including promotional offers, relationship-based accounts, private, youth, senior and student/minor. The average money market account rates quoted above are based on a $10,000 minimum deposit amount.

Frequently asked questions (FAQs)

Depending on the bank, you might be able to do this online. You’ll need to provide some basic information, such as your name, address, date of birth, Social Security number and phone number. Additionally, you’ll need to supply the account number and routing number of the bank you intend to use for your initial deposit if you’re funding a new money market savings account online.

Once your account is opened and funded, you can manage it just like any other bank account. This includes regularly reviewing your statements or account activity, setting up transaction alerts and linking it to your other bank accounts for seamless transfers.

In some cases, yes. Some banks or credit unions may charge monthly maintenance fees, which can sometimes be waived if you maintain a certain minimum balance.

Others may impose fees for excess transactions, as MMAs are subject to federal regulations limiting the number of certain types of transactions (such as transfers and withdrawals) to six per month. It’s essential to review the account terms and fee structures before opening a money market account to ensure you’re getting the best possible deal for your financial situation.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Taylor Tepper is the lead banking editor for USA TODAY Blueprint. Prior to that he was a senior writer at Forbes Advisor, Wirecutter, Bankrate and Money Magazine. He has also been published in the New York Times, NPR, Bloomberg and the Tampa Bay Times. His work has been recognized by his peers, winning a Loeb, Deadline Club and SABEW award. He has completed the education requirement from the University of Texas to qualify for a Certified Financial Planner certification, and earned a M.A. from the Craig Newmark Graduate School of Journalism at the City University of New York where he focused on business reporting and was awarded the Frederic Wiegold Prize for Business Journalism. He earned his undergraduate degree from New York University, and married his college sweetheart with whom he raises three kids in Dripping Springs, TX.

Jenn Jones is the deputy editor for banking at USA TODAY Blueprint. She brings years of writing and analytical skills to bear, as she was previously a senior writer at LendingTree, a finance manager at World Car dealerships and an editor at Standard & Poor’s Capital IQ. Her work has been featured on MSN, F&I Magazine and Automotive News. She holds a B.S. in commerce from the University of Virginia.

Today’s top money market account rate roundup: Rates inch up — June 28, 2024

MMAs Taylor Tepper

Today’s top money market account rate roundup: Take home 5.13% — June 27, 2024

Today’s top money market account rate roundup: Rates inch up — June 26, 2024

Today’s top money market account rate roundup: Take home 5.13% — June 25, 2024

Today’s top money market account rate roundup: Rates remain fairly stable — June 24, 2024

Today’s top money market account rate roundup: Rates inch down — June 19, 2024

Today’s top money market account rate roundup: Rates remain fairly stable — June 18, 2024

Today’s top money market account rate roundup: Earn up to 5.13% — June 17, 2024

Today’s top money market account rate roundup: Earn up to 5.13% — June 14, 2024

Today’s top money market account rate roundup: Rates move higher — June 13, 2024

Today’s top money market account rate roundup: Take home 5.13% — June 12, 2024

Today’s top money market account rate roundup: Top rates pay 5.13% — June 11, 2024

Today’s top money market account rate roundup: Rates inch up — June 10, 2024

Today’s top money market account rate roundup: Earn up to 5.13% — June 7, 2024

Today’s top money market account rate roundup: Rates remain fairly stable — June 6, 2024

An official website of the United States government

Here's how you know

Official websites use .gov A .gov website belongs to an official government organization in the United States.

Secure .gov websites use HTTPS A lock ( Lock Locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

News Release FHFA and CFPB Release Updated Data from the National Survey of Mortgage Originations for Public Use

Joint Release

​​Consumer Financial Protection Bureau

Federal Housing Finance Agency

Washington, D.C. – The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) today published updated loan-level data for public use collected through the National Survey of Mortgage Originations (NSMO). The data also provide updated mortgage performance and credit information for a nationally representative sample of mortgage borrowers from 2013 to 2021.

Since 2014, FHFA and CFPB have sent quarterly surveys to borrowers who recently obtained mortgages. These surveys gather feedback on borrowers’ experiences during the mortgage process, their perceptions of the mortgage market, and their future expectations. Today’s release adds one additional year of new mortgage data through 2021.

“The NSMO provides a unique view of mortgage borrowers, helping illustrate underlying trends that can identify emerging issues in mortgage lending,” said Saty Patrabansh, FHFA Associate Director for the Office of Data and Statistics. “The data released today will provide insights into consumer behavior and borrowers’ experiences, leading to better analysis of how mortgage processes could be improved for future borrowers.”

“This year’s survey provides new insights into appraisal satisfaction and willingness to move for borrowers with new mortgages," said Jason Brown, CFPB Assistant Director for Research. “With the release of the public use file, we invite researchers to help us understand the challenges facing consumers and help us to find ways to improve the market for consumers.”

Today’s release features data on three new survey questions first asked of mortgage borrowers in 2021.

• When asked about appraisal satisfaction, 70 percent of respondents reported being very satisfied with their property appraisal, 23 percent reported being somewhat satisfied, and 6 percent were not at all satisfied.
• When questioned on their willingness to move from their primary residence, 50 percent of respondents reported being unwilling to move, 20 percent were unsure about moving, 25 percent were willing and able to move, and 5 percent were willing but unable to move.
• When prompted to select from a list of factors important to borrowers choosing a mortgage lender/broker, 8 percent of respondents selected accommodations for people with disabilities as an important factor in their choice.

The NSMO is a component of the National Mortgage Database (NMDB®), the first comprehensive repository of detailed mortgage loan information designed to support policymaking and research efforts and to help regulators better understand emerging mortgage and housing market trends.

The NMDB is designed to fulfill the requirements of the Housing and Economic Recovery Act (HERA) and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). HERA mandated that FHFA conduct a monthly mortgage survey of all residential mortgages, including those not eligible for purchase by Fannie Mae and Freddie Mac. The Dodd-Frank Act mandated that CFPB monitor the primary mortgage market, in part through the use of the survey data.

Access the NSMO Public Use File

The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks.  These government-sponsored enterprises provide more than $8.4 trillion in funding for the U.S. mortgage markets and financial institutions.  Additional information is available at  www.FHFA.gov , on Twitter  @FHFA ,  YouTube ,  Facebook,  and  LinkedIn .

Contacts: MediaInq​[email protected]