Any company, before launching a new project or product, analyses the market to get a clear idea of how their venture will work out. Market surveys are done to comprehend consumer behaviour, their needs, what service is to be offered, how it needs to be offered, to whom a product might be of use if the project will be successful, do the consumers need a particular product, etc. Over the course of time, there have been tremendous changes and advancements in the ways or methods of how a market survey is conducted. Earlier, market surveys were restricted to door-to-door. American psychologist Daniel Starch was the first to introduce and professionalize market research in advertising. Later George Gallup, founder of the American Institute of Public Opinion, used a statistical method to break down the US electorate into a set of demographic groups. Following this, market research came into being.
Now with the development, various effective tools have been designed for better market research. These tools help effectively in conducting digital surveys, camcorder-based interviews, preparing questionnaires, observing customer behaviour, conducting combination research, etc.