Leading consumer goods companies keep a constant finger on the pulse of the South African consumer marketplace. The release of new products and competitor activity make this imperative. It would be risky for any company to spend a vast amount of money creating, manufacturing and marketing a product without first making sure that consumers would buy the product. They must also be fairly certain that enough of the product will be sold to make it a commercial success. It would be equally risky to assume that established products will keep or increase their market share for years and years without continuous monitoring of market factors to protect the product from new competitors’ products. Pricing and advertising would also need to change in the face of dynamic shifts in the nature of the marketplace. The need for up-to-date, accurate consumer market data is where the typical market survey company plays a role.
Market Research is a Huge Industry
Globally companies spend many billions a year understanding the marketplace and the consumer. From establishing focus groups to conducting product testing, interviews and polls, vast amounts of money and effort are spent to understand what strategies will drive product sales and improve market share. Which type of advertising will entice the consumer to buy a particular product? Should the product be sold online, in retail stores or a combination of both? Most leading consumer goods-producing companies will turn to a survey company to monitor consumer metrics on their behalf. A survey company will offer services such as customer satisfaction polling, brand health tracking, packaging testing, concept testing and advertisement testing.
Why Do Online Surveys Work So Well?
A survey company will design a portal which the consumer logs into to complete the questionnaire targeted at their demographic The primary objective is to make the process of registering as user friendly and quick as possible. A list of set questions is compiled for each questionnaire to elicit and capture consumer responses and a reward is stipulated for completing each particular questionnaire. Cash or some other form of reward makes it worthwhile for the consumer to invest their time. It works well because everyone wins. If you look for a well-established survey company that offers free membership and doesn’t expect you to buy anything before you qualify to participate, then you can earn additional income reliably. MobiWorkX ticks all these boxes.
A Survey Company Collects Information
In essence, a survey company collects information about various facets of consumer behaviour. In other words, if you want to know what consumers are doing and thinking, ask them. A survey company knows it is far more efficient and cost-effective to set up online questionnaires which consumers complete than any of the other data gathering options. A large number of consumers can be reached, and more accurate results can be obtained. It is more cost-effective to pay consumers directly to complete questionnaires online than telephonic surveys, for instance.
Earn Money with a Survey Company Like MobiWorkX
MobiWorkX is one of the most reputable and dynamic market research panels and survey companies in the country. At MobiWorkX, we offer you ongoing opportunities to complete questionnaires and supplement your income. Join us today.