How to use Market Research Method for Product Development

As the Chief Product Officer (CPO) of key fintech, my experience in selecting research methods has been a crucial aspect of driving the success and relevance of our market research initiatives.

Throughout my tenure, I have leveraged various research methods to gather comprehensive and valuable insights into our target market, customer needs, and industry trends. I will share my experiences with each research method and how I have effectively used them to inform our product strategy and decision-making process.

Online Surveys:

Online surveys have been an invaluable tool in understanding customer preferences, satisfaction levels, and feedback on specific features or services. During my tenure as CPO, we conducted several online surveys to collect quantitative data from a large number of respondents.

Experience: In one instance, we aimed to gain insights into customer preferences for different types of bond investment products offered on bondsIndia. We crafted a well-designed online survey with questions related to various bond options, interest rates, risk tolerance, and investment goals. The survey was distributed to our customer database via email and also made accessible on our website and mobile app. The response rate was impressive, and we received a wealth of data…