marketing research proposal for new product

Market research for new product development in 6 steps

Market research for new product development will help you understand your users' needs, as well as potential risks and market opportunities.

What is market research in new product development?

Why do market research for new product development, the importance of market research in product development, choose the correct type of market research, how to conduct market research for a new product , examples of market research for new products, what product development idea have you been dallying off.

Picture this: you’ve got a great idea for a new product, or for improving your current product or service. At least, you think it’s great. When you explain it to others, they raise their eyebrows.

While you are incredibly enthusiastic about the product, they have critical questions about consumer trends , the market , and those latest developments in the world. Ouch.

‘My gut told me to go for’ won’t convince a lot of investors to invest in your idea. Plus, your designers, marketers and engineers will work in a much more confident way if they know that what they’re working on has a chance to succeed. The only way to give them that confidence, is through market research. And one of the most valuable types of research is that which you’ve carried out among your target consumers. This research provides you with proprietary data (also known as zero-party data ).

In this article, we’ll explore why consumer research is so important when you’re developing a new product or want to change something you’re currently already selling. We’ll take you through five crucial steps and give you some valuable tips along the way.

Market research for new product development can focus on different areas. You can research market viability, the demand for the product you have in mind, the features your target group is looking for, or the best way to position, price, communicate and market your product to your target audience. You take into account your competitors, market developments, and important trends. And whether you’re running market research for a startup or a massive brand, it’s an essential step to make sure your new products hit the mark. This can be a difficult task, leading many to consult US market research companies .

Market research for new product development is all about identifying opportunities and finding out if it’s worth bringing your product idea to life. And if so, how to do that in the best way.

It’s about more than what the competition is doing, and if your target audience would be willing to spend money on you. You can also dive into market trends to identify the best ways to market your product.

You can use market research to fine-tune your product development and the relevant aspects around it. Based on how your audience is developing, what price and type of message would grab their attention? What kind of marketing tactics are likely to work, and what channels dominate your market?

Consumer research is about understanding all the aspects of your market. You can approach it as a big puzzle, and once you have all the pieces in place, you can proudly present a solid plan or research to your investors and team, to help them understand why your product development idea is worth working on.

To get the best consumer insights, send a survey with our concept testing template . And for a sector-specific lowdown, find out all about the food product development process .

Market research for your new product development strategy helps you minimise risks and prepares you for a successful product launch. You get to know your market and audience in a way that helps you create not just the perfect product concept, but also the right messaging and marketing around it—something that will actually resonate with your audience.

Market research is used to base your decisions on facts, not just ideas and hunches – however good you might be at guessing games. Before spending time and money on a product idea, you get a good idea of how likely it is to be a success. This will also help you plan how much time and money you’ll actually need.

Investors and stakeholders will also want to see market research if you want to launch a new idea: they want some kind of security that the product will actually sell. Even though market research isn’t a crystal ball and doesn’t exactly predict the future, when it’s done right it can definitely give you a clear picture of how your product concept will be welcomed into the market.

Market research is not only important to verify if your completely new product idea is worth the work. You can also use it to optimise existing products, by keeping a close eye on how competitors are changing their products. You might even read online reviews on products similar to yours and see that customers are asking for specific features. This is also market research.

This also goes for adding new products to a line to supplement your current assortment, or if you want to start an entirely new adventure with your breakthrough product idea.

Market research for product development, whether new or existing, is all about listening to what is happening in the market. Step outside of your organisation and ask the people who pay for your products how you would make them even happier, or find out what trends you can jump onto now, so you can become a frontrunner in the future.

Product development shouldn’t just be done in-house, with your designers and developers closely looking at the product. It’s easy to get tunnel vision and build a product that’s more focused on what you can and want to deliver, and less on what the customer wants.

Market research done right forces you to step out of that bubble and not just look at how you can make the product shinier, faster and stronger, but how you can give it the right place in the market . Because product development is also developing a marketing and sales strategy . It’s having a customer journey and experience ready to put the product in and turn your customers into fans. All you need to do, is go talk to them!

Moreover, market research helps you determine what the marketing mix should look like, since developing a new product is never just about a product.

Turn customers into fans with market research tools

Compare the top market research tools of 2022, including details on their features and the best ways to use each tool.

Let’s get back to basics: what types of market research are there? We often lose ourselves in the wide variety of tools out there that give you data – but what kind of data is available, and how relevant is it to you?

It’s important to understand where data is coming from and how complete it is. How can you supplement it with additional research to get the full picture? Let’s look at the types of research you can – and should! – combine.

Quantitative market research

Don’t let the saying ‘quality over quantity’ fool you for this one—if you’re trying to make money, quantity certainly does matter. Quantitative research focuses on things you can measure .

How many people are interested in your type of product? What are they willing to spend, on average? Has that number been growing, been steady or are they willing to pay less and less? And if the latter is the case, is the group growing in size at least?

You can also gather information on how happy people are about a product or service. What’s lacking in this type of information is the motives behind it. For that, you need qualitative market research .

Qualitative market research

Qualitative research gives context to the numbers . Yes, people are increasingly interested in product X – but why is that? What were they looking at before, and what made them make the switch? Was it a change in price, a recommendation from a friend, something they saw in the news?

Now, it’s nearly impossible to gather qualitative data for all the quantitative data you measure. That’s why it’s incredibly important that you get that qualitative data from a hyper-relevant part of your target group. Don’t send out surveys to gather quantitative data from a specific part of your target group, and then ask another part to explain those numbers. That wouldn’t be helpful at all.

Qualitative data often comes from focus groups . You could find a focus group in the people that you survey, or by interviewing existing customers that fit the profile you’re studying. This will help you get a real-life picture of consumer needs and consumer problems. The best person to ask is the one you’re trying to fit into a buyer’s persona.

How is qualitative market research important for your product development process? It’ll help you understand the needs of your target market better. You conduct research that will steer your product idea generation in the right direction, gathered by real consumer insights and consumer feedback.

Of course, you can’t come to your market consumer in the initial stages of the process and ask them to design the product for you. You’ll gather the base information you have through quantitative methods and online new product development surveys , so you can ask focused concept testing questions to your focus group.

Primary market research

Primary market research is collecting raw data directly from your target customers or market by doing your own research. It simply means you only use data you yourself have collected,  from things like surveys and focus groups – no trend reports from third parties.

This is important for product development research , because you can’t base your decisions and product development process on someone else’s findings for different product and target group entirely.

Anything you directly collect from your market, whether it’s through focus groups, surveys, interviews or product research is primary data.

Inform your product development with our JTBD template

Get up and running with your next product development project and learn what customers really need with our jobs-to-be-done (JTBD) template.

Secondary market research

Secondary research can be done using existing data . The fact that it’s not brand-new information, doesn’t mean that it doesn’t hold valuable insights. You just need to collect the right information and connect that to information that’s relevant for your case specifically.

Secondary research can be done to identify business risks, for instance by looking at market developments. Competitor research is also a valuable form of secondary research. Through competitor research you’ll get a real understanding of the other options your potential customers have – a good starting point for any new product development strategy.

What parts of market research can you not skip over when your goal is using it for product development research? We’ve divided it up into five bite-sized steps that will give you a solid framework to work within.

Step 1. Exploratory research

Basically, this is researching what you specifically want to research. It’s completely normal not to immediately know what your research goal is, or how you’ll get there. That’s where exploratory research comes in.

You start by gathering secondary data on all kinds of aspects. Find things that stand out, developments that you hadn’t thought about and things you want to know more about.

With that information, you can start defining what’s most relevant for you in this stage. Where are your knowledge gaps, and how do you make sure you get the relevant data to make wise business decisions?

This is not necessarily about gathering as much data as you can – you want to keep it manageable and relevant. Find out what questions you can’t answer straight away, and focus your exploratory research on that.

Step 3. Define research objectives

After your exploratory research, you can start pinpointing what you really need to know to move forward in your product development process.

Will you be focussing on customer needs, or how to get a competitive advantage? Will the market analysis focus on product demand and pricing, or is there still a lot of ground to cover in the physical product and usage habits?

It’s important to have a clear idea of what you’ll be researching. Ask yourself: what actionable insights do I need to win in this market segment? Make your objectives as concrete as you can, so your answers will be focused and you can confidently use them to base your next step on.

Step 4. Define the scope of the research

Of course, market research is a way to minimise risk. But there’s always a risk if you’re venturing out with a new product. You can never get a 100 percent guarantee of what will happen, until you launch your product.

That’s why it’s important to define a scope around your objectives. It can also help you to decide where you can use secondary data, and where you definitely need primary data.

Step 5. Decide on market research tools or partners

Are you going to focus on the product or business as usual while a research agency does the heavy lifting? Or do you want to keep everything in-house? In that case, you’re going to be in charge of deciding what market research tools you use. And the possibilities are nearly endless…

There’s a tool for every part of research, but it’s important that you use tools that are easy to work with, and collect all the data you want, so you don’t need to glue it all together from different tools. Especially if you’re going to talk directly to your consumers, you want to use a tool that’s as easy and pleasant to use for them as it is for you.

Of course, we have some suggestions. Check out our article on the 6 best—tried and tested—market research tools out there. And if you’re leaning towards agencies in the UK, here’s our rundown of the top market research agencies in London . And here are the top market research companies in the US .

Or, if you’d prefer to focus on sending out insightful customer insights surveys, see our list of the top 11 Qualtrics alternatives .

Step 6. Concept testing

As interesting as the market itself may be, this specific research is still about your product development idea. Is the idea you have in mind good enough to enter the market, or do you need input to fine-tune it?

That’s where concept testing comes in. With concept testing, you create an MVP that you can show to your focus groups. You find out what they think about it. What features do they miss and love? What would they pay for this? How easy is it to use?

But, like we said, you’re not just developing a product. You are also developing the marketing and communication around it, and that also needs to be tested thoroughly. That’s why you can also target your market research at your marketing for the new or improved product, by creating mock-ups and testing messaging with your focus group. 

How are brands you love using Attest to do market research around product development? Let’s tale a look at US farming cooperative,  Organic Valley . They save time and money by using quantitive analysis for new product development.

‘For a lot of our day-to-day work we had been using other tools that weren’t necessarily user-friendly, easy to use or intuitive. We were looking for a tool with a fairly rapid turnaround and I wanted my team to be able to use it themselves, I didn’t want to have to go out and hire somebody else,’ says Tripp Hughes, Organic Valley’s Senior Director of Consumer Strategy. He saw a need for a tool that his team could use, without having to go through excessive training.

After seeing Attest demoed at a conference, Hughes brought in some of his peers to take a look. They now use it for market analysis, concept ideation and testing, creative testing, and messaging testing.

Hughes estimates that being able to make quick initial learnings through Attest saves Organic Valley between 10 to 20 times what it would cost to make the discoveries later down the line.

‘The impact is coming in reduced time and improved next-round thinking that we’re taking into focus groups where we’ve got a high-cost factor. If we don’t go in with the right materials and the right framework, we’re wasting money. And so Attest has helped us do a lot of the front-end work that then we’re able to go and build on.’

Read more about how Organic Valley is developing awesome products with insights from Attest in this case study.

We get it – taking risks is scary. But developing new products is exciting, and could lift your business to the next level. And while doing product development research, you could find a lot more inspiration about other improvements you can make in your business.

If you’re looking for a tool that brings you closer to your target audience and helps you find hyper relevant results, try Attest.

Ask the right questions for NPD

Learn which product development survey questions you should ask to discover what customers value most, from pricing to features.

Customer Research Lead 

Nick joined Attest in 2021, with more than 10 years' experience in market research and consumer insights on both agency and brand sides. As part of the Customer Research Team team, Nick takes a hands-on role supporting customers uncover insights and opportunities for growth.

Related articles

How to write concept testing survey questions that get real insights, new product development, evive nutrition brand manager amaël proulx on taking the states by storm, direct-to-consumer, 12 top storytelling marketing examples: how brands tell stories, 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!

• Our CLT & Focus Group Facilities
• Concept Ideation & Invention Methods
• Creative Problem Solving Research
• Product & Packaging Evaluation
• Consumer / Shopper Segmentation
• Path to Purchase / Journey Mapping
• Virtual Store Testing
• Brand Positioning Research
• Message Evaluation Optimization
• Ad Copy Testing
• Reputation Management
• Brand Equity Assessment
• Market Structure & Landscape
• Competitive Intelligence
• Benchmarking Market Research
• Customer & Employee Satisfaction Surveys
• Habits & Practices / Attitudes & Usage
• Data Presentation & Reporting
• Data Analysis & Interpretation
• Data Processing & Analytics
• Syndicated Data
• Segmentation Algorithms & Panels
• Proprietary Research Reports
• Data Mining
• Consumer Insights
• Sensory Data Analysis
• Crisis Communications
• Marketing & Business Strategy
• Focus Groups
• Face To Face Interviews
• In-Depth Interviews
• Public Opinion
• Web Interviews
• Postal Mail Surveys/Questionnaires
• Interactive Voice Responses
• Public Opinion & Community Engagement
• Leadership Team
• Company Acquisitions
• Testimonials
• Pharmaceutical
• Retail & Consumer
• Agriculture
• Manufacturing
• Marketing & Advertising
• Entertainment
• Finance & Legal
• Food & Beverage
• Travel & Hospitality
• Apparel & Footwear
• Home & Hardware
• Health & Beauty Aids
• Hi-Tech & Ecommerce
• Alternative Energy
• Case Studies
• Project Summaries
• Research Tools
• Join Our Panel

How to Write a Winning Market Research Proposal

The current pandemic may have curbed our travel, but that doesn’t mean we don’t all still know the value of having good maps and a suggested itinerary. Indeed, a solid plan of action makes any endeavor — whether it be a fun-filled vacation, an educational goal, or a professional enterprise — more focused, less stressful, and, thus, more effective. It doesn’t matter if life interrupts our plans (“Hello, COVID-19!”); in fact, interruptions are a given, but we still know that good plans prepare us for whatever lies ahead. They help us to define our priorities and clarify our needs so that we can better manage our resources. The result: we are better prepared to handle uncertainties and more formidable and more productive in whatever we choose to do.

For businesses, good plans are based on good research. More than good products and services, good information sets profitable companies apart from their competition, allowing them to prepare for — and plan for — success. This is why market research proposals are so important. A market research proposal is a document a company uses to map out its future. It unites company stakeholders in joint discovery of information so that everyone knows who and what really matters. In short, a market research proposal outlines the specifics of an information-gathering project. This is how to write a winning one:

Keep It Brief

A market research proposal is sometimes called a “market research brief” because it's just that: brief. It should also be clearly written with no unusual acronyms or industry jargon and only the necessary points to underscore the overall research objective (as well as how it will be addressed) highlighted.

Include a Company Overview

The beginning of the proposal should include a short overview of the company, including such details as its mission and vision statements; market performance history; industry facts, figures, and trends; competitor data points and any other past research findings that shed light on the issue(s) at hand and why further research is needed.

Clearly Define the Objective

The research objective is the most important part of the proposal, as it clearly outlines the information a company needs, and, thus, defines the overall goal of the project. It’s basically the question a company wants to be answered and needs to be specific and measurable (but not necessarily quantitative) with the desired outcome.

Explain the Research Methodology

Of course, a market research proposal should also include a section explaining how the information to address the research objective will be obtained. Details about data collection (including the definition of the target audience, sample selection criteria, and proposed methodology) need to be clarified (since specific demographic, technological, economic, political, and even environmental concerns inevitably impact research outcomes) and should be evident with reasons for their use thoroughly transparent.

List Expected Outcomes

Finally, a good market research proposal needs to include a list of expected outcomes. An estimation of budget concerns, as well as a timeline for specific research milestones and project completion, should be listed here, along with an overview of projected deliverables to be anticipated. This helps both company executives and researchers to remain focused and on point.

Ready to Learn More?

A winning market research proposal isn’t just the one that seals the deal on a research project. It’s the one that provides actionable insights for companies and researchers alike. Following a determined set of standards, a winning market research proposal has the potential to garner data that can be used to inform better business decisions. Our team at Research America has the expertise needed to craft winning market research proposals that yield meaningful results for all involved. Please contact us to learn more.

CUSTOMER EXPERIENCE

CONSUMER INSIGHTS

• Marketing Research |
• Market Research Surveys |
• Market Research Company |
• Market Research Interviews |
• Market Research Calls |
• Market Research News |
• Market Research Initiative |
• Privacy Policy |

Contact Us (315) 303-2040

• Market Research Company Blog

7 Components of a Market Research Proposal

by George Kuhn

Posted at: 5/9/2023 12:30 PM

A market research proposal is the first and most critical step in your project or choosing a market research consultant .

It gives you all of the information you need on the process, approach, and most importantly: the cost 💸💸.

You can also tell a lot about a market research company from the interactions you have before signing on the dotted line.

In this article, our market research company shares everything you need to know about market research requests for proposals.

It will teach you what to look for, what the process looks like, and the key components of an RFP document.

Article Contents

What is a Market Research Proposal?

• Market Research Proposal Components
• What a Proposal Tells You About a Market Research Company

Looking to submit a request for a proposal to a market research company? Contact Drive Research by emailing [email protected] or completing an online contact form on our website.

A proposal for market research is a document that works as a template for the research team and client, determining the steps to take in proper order. What’s more, they ensure the project runs smoothly and follows a key set of steps. 

Market research proposals typically include the following:

• Objectives: The purpose of this section is to clearly define the key goals of the market research project. Like any other project, when there are no objectives, things can get messy–fast. Labeling the project objectives works to avoid this and ensures the rest of the proposal makes sense. 
• Type of approach: While the objectives section is the most important, the approach section has the most details. Going over each step of the entire process is critical for this point, as it almost acts as a map of how the project will go. 
• Project timeline: Just as it sounds. Including a timeline in a market research proposal is necessary to ensure the client is aware of how the project will progress. Additionally, this helps to keep the research team aware of deadlines and goals. 
• Estimated cost: Pricing will always be included in a market research proposal. Usually, costs for a project will be a fixed price. Like many aspects of market research, costs depend on different variables within the project. 

Another key detail to point out here is that proposals are especially important because there are so many different types of market research methods to choose from. 

While the four elements listed above are essential in a proposal for any type of research project, their details will vary based on the type of research being conducted. 

A research team that’s well-versed in multiple industries will be able to craft an effective research proposal that’s unique to their client. 

Below, we’ll expand on the points mentioned above.

Free Resource: Download Our Free Market Research RFP Template

Market Research Proposal Components 

A market research proposal includes a set amount of key components. Each section offers essential information and should always be reviewed to ensure you are selecting the best market research agency for the job.

Looking for assistance in creating a market research proposal to send to agencies? Here is your ultimate guide to writing a market research RFP .

Below are the key components of a market research proposal:

Proposal Component #1: Objectives

This is the general recap of key questions that need to be answered in the market research.

It should address your expectations, what you want to learn from the market research, and what you plan to do with the results.

In this section of the proposal, the market research company should communicate how well they listened and understood the key objectives of your project from the prospecting meetings.

This is an important component of a market research proposal.

It is important both sides have a clear understanding of what the general goals and objectives of the research are.

Your objectives will shape survey or interview questions, and guide the final results. Do not hesitate to discuss any comments or concerns when you receive the proposal. 

💡 The Key Takeaway: As with any market research project, a proposal will contain clear project objectives. This includes project expectations and how the data will be used. 

Proposal Component #2: Approach

In this section of the market research proposal, the firm should outline the approach.

This approach should set the table for the types of methodologies of choice and most importantly, why they are the best options for the client.

Here the proposal may talk about approaches to market research such as:

• Hosting 2 online focus groups followed by an online survey.
• Conducting 15 in-depth interviews (IDIs) followed by an email survey.

Whatever the methodology is, the firm should spend some time discussing the value of each methodology and why it was chosen over other options.

For instance, online surveys offer the best return on investment (ROI) for a client. This is because online surveys are cost-effective , offer a quick turnaround, and capture quality data.

This is part of the story we share for our market research case studies . All great market research companies have a patented process.

💡 The Key Takeaway: For this section of the proposal, the approach will detail what type of market research will be used and other relevant information.

Proposal Component #3: Design

Now that the approach is laid out, the market research company should get into the details here.

The design phase of the market research proposal outlines the structure of each of the market research instruments.

This component of a market research proposal may include:

• A moderator's guide for a focus group
• A survey document for an online survey
• An interview guide for an IDI

This section should explain some of the questions the market research company is considering asking, how long the survey or interview will take, what populations the market research will be targeting, and so on.

For example, if the market research company is proposing focus groups, the proposal will discuss the location of the groups, honorariums, recruitment methods, and more.

This is the crux of the market research proposal. The detail is in the design and it's where the market research company can shine.

The design component is where they can show their expertise and experience. This is where the pretenders are separated from the contenders.

💡 The Key Takeaway: In this section of the proposal, further details about the chosen method of research are provided. This step is essential when it comes to giving clients peace of mind about their projects. 

Proposal Component #4: Fieldwork

During the fieldwork section of the proposal, this is where your organization will read about the number of groups, the number of survey completes, or the number of interviews.

You may also learn about how the firm proposes cutting the audiences or creating quotas .

Here the market research firm should also share how the project will start with a soft-launch email survey before fully launching fieldwork.

Additionally, in this section of our market research proposals, we also share with our clients that they will receive a live data link that they can access 24/7 with a passcode.

This gives our clients up-to-the-second data when their project is active.

To give you a preview, here is an example client portal created for online surveys.

💡 The Key Takeaway: The fieldwork section covers how the feedback will be gathered for the client project. Additionally, this is a chance for the team to discuss how demographics will be handled. 

Proposal Component #5: Reporting

The reporting component is another key section of the market research proposal. This is where your team will read about the analysis and reporting plans of the market research company.

It should give you a mental picture of how the report will be structured.

This would most likely include:

• An executive summary
• Recommendations
• Infographic
• Customer persona
• An appendix of question-by-question results

Depending on the complexity of the project, the market research firm should also touch on some advanced analytics such as TURF analysis , text analytics , regression , correlation , or any other non-traditional form of reporting.

Below is an example infographic you might receive from a market research company, like Drive Research.

Example Infographic of a Market Research Report

💡 The Key Takeaway: This section covers how the received data will be analyzed and reported. It covers how the data will be arranged and interpreted by the team.

Proposal Component #6: Timeline

In one of the final sections of the market research proposal , the market research firm should highlight the timeline.

This not only includes a total start-to-finish estimate in weeks (or months) but a breakdown of each section.

Our market research firm often finds Gantt charts work very well for these timelines. The breakdown here should include kickoff, set up, design, fieldwork, and reporting.

💡 The Key Takeaway: Including a timeline off provides additional peace of mind for clients. This section simply details the due dates for project steps. 

Recommended Reading: How Long Does Market Research Take?

Proposal Component #7: Costs

Lastly, the market research project proposal must highlight the expenses. This total cost is often what our clients (and any human being) want to jump to first.

We typically either include this on the cover page or at least in the email sent to the client. The cost should give some details on how it came to be.

For instance, the cost of market research could be based on hourly rates and the time expected to complete each task.

The scope should also talk about the hard pass-through costs such as incentives or rentals of panels.

💡 The Key Takeaway: An authentic market research proposal will always include cost. This keeps both parties informed and aware of the best pricing strategies. 

What A Proposal Tells You About a Market Research Company

Aside from project cost, there are a few other important factors in choosing a full-service market research supplier .

Here are a few things to consider when reviewing a market research proposal from agencies and firms.

How quickly do they turn it around?

Understanding the estimated project timeline showcases how fast the market research company can move. More importantly, it reflects how much of a priority your project is for them.

If they are taking a week or longer to produce a fairly straightforward and simple proposal, they may not be considering you as a priority client.

Speaking from experience, the research industry moves fast. A week is an eternity in business as far as our market research company  is concerned.

How clean and professional does it look?

The layout and format of a market research proposal will give you some insight into what their reporting, infographics, and deliverables will look like.

A sloppy thrown together proposal is a sign of bad things to come. Remember, this should be the phase where a third-party market research firm is trying to win you over.

If the first document you receive from a vendor is not up to your standards, it is likely not the firm you'd like to move forward with.

How flexible is the market research company?

Are they willing to work with you on scope, process, and cost if your budget requires it?

If they show some flexibility and are willing to make adjustments as part of the proposal process, it is a sign they will be easy to work with throughout the coming weeks.

At our market research company , we like to act as an extension of your team. In the proposal phase, we try to do everything we can for your team to meet your goals.

How consultative is the market research partner?

Market research companies often get a bad rap for being laser-focused on charts, numbers, and analytics. They sometimes fail to see the bigger picture: How can clients use this data to improve everyday business operations?

While we can speak for other firms, we can certainly speak behind the mission of Drive Research.

Sure, we love statistics and data as much as the next analyst. However, every market research project includes a level of consultation to assure our clients are walking away with actionable insights.

Here are a few ways we add consultative elements to the market research process:

• If a prospective client asks for a quote for phone surveys, but we know online surveys are the fast and more cost-effective option, we'll share pricing for both phone surveys and online surveys. We always have our clients' (and participants') best interests in mind.
• Our proposals often include detailed information about the market research process such as where we sample survey respondents, project work plan, key deliverables, and more.
• Our market research reports include actionable recommendations for how our clients can use their unique data to improve sales, marketing, operations, and other areas of their business.
• Every project ends with a debrief meeting where our team reads the report page-by-page to assure all parties have a full understanding of the data.

How responsive are they?

If you send an email to a prospective market research vendor asking them a question about the scope or price, it should not take days to get a response.

Think of it this way, the service is likely not going to get better once they close the project and have you as a client.

The best service you will get from any company is when they are trying to get you to sign the dotted line. Sad but very true.

For more context about choosing a market research company, watch this short 60-second video.

Final Thoughts

A market research proposal may seem simple enough. 

And while this type of document isn’t difficult to construct, it contains many moving parts–which all depend on the needs of the client. This is why it’s crucial to have the proposal handled by a team of trustworthy experts!  

Aside from containing the necessary information, an effective market research proposal will be handled by an equally effective market research team. Covering everything from key objectives to costs, a well-written proposal is the first step to a successful market research project.

Need a Market Research Proposal? Contact Drive Research

Drive Research is a full-service market research company. We provide both qualitative and quantitative research services to organizations across the world.

If you are interested in receiving a market research proposal from Drive Research, contact us today!

• Message us on our website
• Email us at [email protected]
• Call us at 888-725-DATA
• Text us at 315-303-2040

George Kuhn

George is the Owner & President of Drive Research. He has consulted for hundreds of regional, national, and global organizations over the past 15 years. He is a CX-certified VoC professional with a focus on innovation and new product management.

Learn more about George, here .

Categories: Market Research Analysis

Need help with your project? Get in touch with Drive Research.

View Our Blog

How to Create a Market Research Proposal (+Template)

Continuing the market research series, in this article, we’ll discuss what a market research proposal is and how to create one.

To recap, what we’ve covered so far in the series, we’ve talked about what market research is, the different types of market research you need to do to grow your business, and the benefits of conducting market research .

What is A Market Research Proposal

Conducting market research is expensive, and if you work in a large organization, then you would need to justify such expenses.

Before conducting your research you’d need to shed some light on past data about your market, gaps in the data, and why new research is necessary.

This is where a Market Research Proposal come in to play.

Typically, a research proposal is a document proposing a research project, usually, these proposals are done by a scientist or an academic. 

The proposals are then evaluated on the cost and potential impact of the proposed research, and on the soundness of the proposed plan for carrying it out. Research proposals generally address several key points:

• What research question(s) will be addressed, and how they will be addressed
• How much time and expense will be required for the research
• What prior research has been done on the topic
• How the results of the research will be evaluated
• How the research will benefit the sponsoring organization and other parties involved

The same principles apply here, only that your business market environment is what is being researched, which is your target market.

A market research proposal is a document that details the what, the where, the when and the how of market research and the information and costs associated with it.

If this sounds complicated, then here’s what you need to know about a market proposal. It addresses:

• Why market research is necessary and what you aim to gain from the research
• What resources are required for the research
• Past research done on your market
• How the data from this market research will be collected, stored and used
• How the research will benefit your business

Keep in mind that at this point you are not conducting the research yet, you are simply providing a rationale behind why market research is necessary.

In the next article in this “Market Research” series, we will discuss the process of conducting market research, but for now, we need to provide a compelling document on why, how, when and where the research will be conducted.

11 Steps to Create A Market Research Proposal

Now that you know what a market research proposal is, it’s time to create one. There are 11 steps to create a sound and compelling market research proposal

1. Market Research Proposal Summary

Start your proposal by briefly explaining the purpose of the market research and why it is required. Also, give an overview of what the desired outcome of the market research is.

If your business is interested in pouring resources into an in-depth market research then surely, there is something you hope to gain from it.

Remember to provide reasoning for the need of this specific market research and let whoever is reading this, such as the CEO, COO. know what contributions this research will make to the company.

TEMPLATE TO USE:

The market research project, entitled [RESEARCH PROJECT TITLE] hopes to discover more information regarding market trends in [SPECIFIC AREA]. The following summary will give an overview of the causes, processes, and possible effects of the market research proposal, detailed below.

2. Research Objectives

In this section of your proposal give full details about what problem has been identified that requires market research to be conducted. I.e. Show why there is a specific need for this research in the first place.

Explain what the market research results will be used for and how they will help achieve the overall goals. Describe the goals which you hope to achieve with this project.

The proposed market research project contains the following objectives:

• Objective one
• Objective two

3. Background Information on Past Market Research

Odds are you’re not the first person/company to conduct research on your market. This means that there is existing information on your market. However, this knowledge might be outdated, or might not provide the data your business needs.

So, in this section explain what information already exists on this topic and what is already known. Also, highlight the gaps in knowledge that the market research will hopefully fill.

Here you will show information from existing sources regarding the specific topic to be researched. It is great to provide cited sources, graphs, charts, and statistics. 

You will use this section to show that you know a great deal about the market you will be researching, but you also need to show the holes in the current knowledge.

You can then demonstrate the specific need for your proposed research plan, and how this market research plan will fill these holes and contribute to the knowledge of this subject.

4. Market Research Proposal Hypothesis

If your business needs to conduct market research, then you probably have a few ideas of what you hope to get or learn from the research.

In this section describe what you believed to be the likely outcome of the market research and what you hope to learn.

5. Research Target Audience

Your business doesn’t target everyone, and odds are your business targets different audience types. So who is this research targeted at?

This is a very important part of your proposal and you need to be as detailed as possible about the target audience or audiences you will be researching.

Also, describe how you will source this target audience and how you will ensure they meet the correct criteria.

6. Data Collection of Market Research

Time to get to the good stuff. In this part of your proposal, you MUST detail all the data collection methods that will be used during the market research and, how they will be carried out. 

You MUST also explain how the accuracy of data will be maintained, how potential candidates for the research will be approached and, if applicable, how they will be reimbursed for their time and contribution.

Use specifics and consider potential questions such as.

• How will you maintain the accuracy of data? 
• How will you approach potential survey or research candidates? 
• Will these participants be paid for their time? 
• At what times of day will you make phone calls? 
• In what ways will you ensure an accurate data sample? 

The more information you can provide in this section, the better.

Our methods of data collection will be best suited to the project at hand. Research methods will include:

• Focus groups
• Collection of social media data
• Surveys via the Internet, phone, or email
• Long range in-home consumer tests
• Distribution of samples
• In person promotionals

These individuals will be selected [HOW THEY ARE SELECTED] to ensure an appropriately constituted pool of data from which we can infer accurate insights and trends.

The pool itself comprises of individuals who have expressed to us an interest in participating in such surveys, and they will be compensated by [METHOD OF COMPENSATION]….

7. Research and Analysis Methodology

In this section of your proposal, you are to discuss the strengths and possible limitations of your research methods. 

Provide an overall blueprint for your methodology in approaching research data, and describe the implications of each method of data collection, and explain the methods you will use to interpret the data. 

Lastly, discuss the means of evaluating the collected data and how you will account for errors, holes in data, or inaccuracies.

8. Ethics to be Followed During Research

You’re almost done with your proposal, but there are still a few important details that need to be included. 

Explain how the market research will adhere to ethical codes by thinking about how issues such as participant confidentiality, data security, privacy, and consent of research participants will be addressed.

Include waivers or documents you plan to provide to research participants, if applicable

9. Market Research Timeline

In this section, provide a detailed timeline of when the research needs to begin and when a full report is required, ensure sufficient and realistic time for both data collection and data analysis are considered.

Market Research Timeline

• Task 1 ([DATE] [TIME])
• Task 2 ([DATE] [TIME])
• Task 3 ([DATE] [TIME])

10. Market Research Budget

We’re almost done with our proposal, but it’s time to include arguably the most important section. After all, if your company does not have the funds and resources then there would be no research in the first place.

Provide an overall budget for the proposed project. Make sure to include all possible cost considerations. You can provide a breakdown of those here. 

Don’t forget budgets for sections such as Participant Reimbursement, funds for documents, rental space.

11. Conclusion

This is the last part of your market research proposal. You can add ways in which this market research will provide further benefits or include unique applications of the potential results.

Now that you know the market research proposal process and the importance of market research, in the next article will discuss the actual market research process.

Comment with any questions you have about Market Research Proposals and I will get back to you ASAP.

Receive Growth Marketing Resources Directly To Your Email

Join The Growth Metric's mailing list to receive the latest resources and blog posts.

Almost there, click on the confirmation email!

Post navigation, leave a reply cancel reply.

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed .

• Design for Business
• Most Recent
• Presentations
• Infographics
• Data Visualizations
• Forms and Surveys
• Video & Animation
• Case Studies
• Digital Marketing
• Design Inspiration
• Visual Thinking
• Product Updates
• Visme Webinars
• Artificial Intelligence

How to Write a Powerful Product Proposal [+ Templates]

Written by: Mahnoor Sheikh

Product proposals can be extremely useful when pitching new product ideas to potential clients, partners or investors. If you’re looking to write a proposal for your next project, you’re in the right place.

In this article, you’ll learn what a product proposal is, what to include in one, and how to write an effective proposal that helps you secure funding or customers. We’ve also included several product proposal templates and examples to get you started.

Here’s a short selection of 8 easy-to-edit product proposal templates you can edit, share and download with Visme. View more templates below:

Table of Contents

What is a product proposal, what to include in a product proposal, how to write an effective product proposal, 13 product proposal templates (edit & download).

A product proposal is essentially a sales pitch . The purpose of writing a proposal is to persuade someone to buy, promote or invest in your product. It should get your audience excited about your product and highlight it as the best solution for an identified problem or need.

You can create a product proposal in any format — video, presentation or document. Choose one that helps you present features, benefits and growth potential clearly and concisely.

A good product proposal emphasizes your product’s value and what makes it stand out from the competition.

It also shows investors or clients why they should care about your idea by highlighting market demand, financial projections, team strength and other factors.

Here are some key sections to include in your product proposal:

Executive Summary

An executive summary captures the main points of your proposal. It’s often the first (and only) thing your audience reads to get the gist of your idea. Write your summary at the end of your proposal, but add it right in the beginning.

Problem and Solution

Highlight the problem or need that your product aims to solve or fulfill. Also, include how your product will solve that problem.

In most cases, your solution might not be the only one in the market. However, you can still make a convincing case by emphasizing your research, drive and capability to solve the problem(s) instead of focusing only on ‘uniqueness.’

Product Features

This is likely the most important section of your product proposal. Here, you’ll talk about the various features of your product in terms of operation, design and usability.

The key to make this part stand out is to focus more on how those features will benefit the target market instead of just highlighting technical specifications.

Key Differentiators

Next, talk about what makes you different from your competitors. It’s not enough to just highlight your product’s features and benefits. You also have to pinpoint why customers should choose your solution over others.

Key differentiators are usually one, two or even three things that make your product stand out. This could be cost, a specific feature that its alternatives lack or even accessibility.

Product Demonstration

You know what’s better than talking about product features? Showing them in action.

A physical product demonstration could be part of your proposal presentation. Or, if your product is a software, you can embed a pre-recorded demo in your digital document.

You can also add videos showing actual people using your physical products. The product demonstration section essentially focuses on how your product works in real life so your audience can fully understand its potential, value and usage.

Market Opportunity

This section shows potential investors whether there’s any demand in the market for your product or solution. More importantly, it pinpoints exactly who your target market is.

• Who is your product for?
• Who is the decision maker?
• Are they also the end user of your product?

Conduct extensive research and find out your total addressable market (TAM.) Then, narrow down your ideal customer profiles (ICPs) and create specific buyer personas .

This might be difficult in early business stages, but the more focused you are, the more likely your product is going to be to solve a particular problem in your niche. Plus, it shows investors you’ve done your research and are confident a need for your product exists.

Financial Projections

Investors can be picky, and rightly so. They’re not going to pour money into ideas that don’t show any concrete potential for financial growth and success.

Based on your research, include calculated numbers that paint a picture of what you expect to spend and earn in the coming quarters, months and even years. This helps build confidence in future investors and shows them you’re serious about your product.

Product Pricing

Pricing is one of the most crucial aspects of your product. It can impact product positioning , potential revenue and profit, and even your brand image. The way you price your product/s can also show how much market research you’ve done.

Is your product priced higher or lower than its alternatives? Is it one-time or subscription-based pricing? How many pricing plans or packages do you offer? Include all of this in your product proposal to help clients or investors evaluate the value of your product.

Development Timeline

If your product is still in development and you’re seeking funding to move forward, it’s a good idea to include a timeline that visualizes estimated milestones and completion.

This will give potential investors a better idea of when they can expect to see your product launch in the market and where or when you’d need funding.

Project Team and Investors

Who is working on your proposed product? The people on your team can make a huge difference in how the audience perceives your product and brand in general.

For example, if your team is made of experienced professionals who’ve worked on successful products in the past, it would help build trust and credibility. The same goes for team members with impressive qualifications and portfolios.

Also, include any existing investors or partners you may have. This helps build trust in potential investors when they see who else is backing your idea.

Manage your projects in style

• Create professional branded documents , from project timelines to budgets
• Visualize important project metrics with engaging charts and infographics
• Allow your team to comment , collaborate and move from draft to final format in no time

Sign up. It’s free.

Contact and Next Steps

Your product proposal is incomplete if it doesn’t encourage people to take action.

Add interactive buttons that link to your website, social media pages and email. If you have a physical office, embed a Google map in there to help people find you easily.

At this point, you can also include a summary of steps interested clients or partners can take to get involved with your product.

Now you know what to include in an ideal product proposal, here’s how to create one quickly and easily.

1. Conduct Research

A good product proposal is backed by extensive research, drive and commitment. Study the market inside out to identify your target market, pinpoint problems and needs, and understand how your product fits into the picture.

Knowing how your product works, its features, benefits and differentiators is also a key component of building a powerful product proposal.

Most presenters make the mistake of leaving the technical details to the developers or product team. But the more you know about your product, the better you’ll be able to explain how it solves a problem and what differentiates it from its competitors.

Additionally, know who your audience is before creating a product proposal. Who is the client or investor you’re reaching out to? Understand their expertise, interests, priorities and concerns to personalize your proposal and make it more compelling.

2. Create an Outline

Once you’ve conducted enough research, you’re now capable of creating a solid outline of your proposal. Start with brainstorming the title or headline.

Then, list out the sections you plan to include in your product proposal. This will naturally depend on your research and who you’re pitching your idea to.

At this point, it’s also a good idea to prepare your assets. Gather visuals like product photos, videos, demos and recordings. Don’t forget to assemble your brand elements like your logo, fonts and color palette.

3. Choose a Template

Creating a product proposal from scratch can be hard work. In addition to content, you also need to think about the layout and overall design of your proposal so it looks attractive.

Thankfully, this is why proposal templates exist.

Instead of creating a mediocre proposal, you’re able to prepare a highly engaging, professionally designed one that’s more likely to impress your audience.

Visme has a library of product proposal templates you can customize easily — no need to download anything. Just sign up for free, pick a template and start editing.

Starting with a ready-made template saves you tons of valuable time and effort. All you need to do is pick a template that fits your vision, replace the placeholder content with your own, and download or share it in any format you like.

4. Add in Your Text Content

Before you do a complete design overhaul on your proposal template, start by editing the text parts only. Don’t worry about the visuals for now — we’ll get to that in a bit!

With your outline next to you, add all the relevant sections and pages to your proposal. In Visme, you can easily duplicate any pages as well if you need to keep the same design. Rename the headings and subheadings, and then go in with your body text.

Pro Tip: Edit the table of contents at the end — specify the right page numbers to help your audience navigate your proposal easily. Creating a digital product proposal? Make your Table of Contents interactive by linking each row to the relevant page in your proposal!

5. Add Engaging Graphics

Adding relevant and engaging visuals can take your product proposal to the next level. Not only does it make your document look more attractive, but it also helps you showcase your product and features more effectively.

Adding product images, demonstration videos, customer testimonial videos, demos, screenshots and any other visuals that help you build a compelling case.

Additionally, decorate your product proposal with relevant icons and background images to make it look more professional and engaging.

Pro Tip: Spruce up your proposal with millions of free icons, illustrations, stock photos, videos, backgrounds, and other graphics that come built-in with Visme’s proposal maker .

6. Visualize Market Data

When presenting market opportunity, customer demand and financial projections, it’s best to use engaging data visualization over boring tables of numbers.

Use line graphs, bar graphs, pie charts and other forms of data viz to bring statistical figures to life. Visualize revenue, profitability and costs to paint a clearer picture. If you need to visualize percentages and small data bites, you can use Visme’s data widgets as well.

7. Make It Interactive

Let your audience navigate through your digital product proposal with interactive links, hover effects and pop-ups . For example, you can link contact buttons and social media icons to your pages, email and website.

Or, embed videos from external sources , such as YouTube or Vimeo. For instance, you can embed videos of people using your product or a brand video to present your company story.

You can also add animation to your proposal in various forms. Make text and objects appear and disappear in style. Or add animated icons, illustrations, characters and gestures.

Pro Tip: Transform your product proposal into a captivating page-turner with Visme’s flipbook effect . Let your audience flip through the pages like they’d do with a real document!

8. Apply Your Branding

You’re almost done creating your product proposal! Don’t forget to brand it using your company’s visual style guide.

Ensure your proposal is aligned with your brand guidelines by adding your logo , applying your brand colors , using your brand fonts and sticking with any imagery or voice requirements.

Pro Tip: Use Visme’s AI brand design tool to generate a tailored product proposal template that fits with your company’s branding. Or, upload your brand assets and store them in the branding kit to reuse in any other Visme project you create.

9. Download and Share

Finally, download your product proposal to share it with the world. Save it in PDF or HTML5 format if it’s a document.

You can also share it directly with clients or investors online using a private link. This lets you preserve any interactivity and make live changes and updates as needed!

If your proposal is in presentation format, Visme lets you download it in editable PPTX, PDF and even MP4 format (video presentation.)

Ready to create a product proposal? Use these ready-made proposal templates to get started quickly. Each template is fully customizable to fit your unique business needs.

1. 3D Modeling Software Proposal Template

This product proposal template is created for software products. The highlight of this template is the use of 3D assets and graphics coupled with bright colors that will make your document pop. Edit this template in Visme to pitch your SaaS product in a fun way.

2. Grocery Delivery App Proposal Template

Looking for a sophisticated product proposal template for your mobile app product? This template is exactly what you need. The existing design is best suited for green, organic and eco-friendly businesses but can be fully customized to fit any product or brand.

3. Talent Hiring Platform Proposal Template

This product proposal is perfect for pitching a business software in front of potential investors and clients. The template uses professional colors and a sleek, polished layout that fits in more information without making it look cluttered.

4. Cosmetics Proposal Presentation Template

This product proposal template for beauty products is in presentation format, which makes it ideal for pitching during in-person or virtual meetings. With a clean, bold design, this template will help you make a great first impression.

5. Jet Ski Proposal Template

This product proposal template is great for pitching physical products to businesses and corporations. While this particular template is designed for a water sports product, you can edit it for virtually any other product or brand. Change images, colors, fonts and content in minutes.

6. Machine Purchase Proposal Template

Use this product proposal template to show relevant stakeholders the features and rates of the machinery you need for your business. This is a no-nonsense proposal template you can use for any other physical product or brand.

7. Digital Marketing Course Proposal Template

Prospective students will flock to your new course when you frame your ideas with this digital product proposal template. Add more pages and completely overhaul the design to make it fit your unique brand requirements.

8. Mobile Game Development Proposal Template

Create an engaging proposal for your mobile app while it’s still in the development phase. Secure funding to take your mobile game to the next level and turn it into a reality. Easily edit this proposal for any other relevant product.

9. Ergonomic Keyboard Proposal Presentation Template

This product proposal template is another presentation that can help you ace your in-person or virtual meetings with clients and investors. Highlight your physical product’s best features and benefits, pinpoint the problem, present your solution and make a compelling case.

10. Documentary Proposal Template

This creative proposal template helps you pitch a documentary or film product in an appealing and captivating way. It comes with pre-designed sections to break down past projects, requirements, delivery schedule and budget.

11. Printer Purchase Proposal Template

Pitch machinery and other physical products in style to potential corporate clients or investors. Use this product purchase proposal template to list out technical specifications, purchasing purpose, pricing details and more.

12. Video Production Proposal Template

Share your creative ideas with clients and partners using this stunning digital product proposal template. The template has great dedicated sections for the idea, budget and implementation schedule that makes it easy for your audience to understand your process.

13. Food Storage Product Proposal Presentation Template

Use this lively and bright product proposal template to present innovative food-related business ideas and eco-friendly products. This presentation template is great for using storytelling techniques to introduce the problem and solution.

Create a Winning Product Proposal for Your Business

Building a powerful product proposal is a key part of your sales process. Making one from scratch can be time-consuming and intimidating, which is why you should start with a professional template.

Check out Visme’s proposal templates to find the best match for your product. Create a free account today and customize any template using our drag-and-drop proposal maker .

Or, learn more about how to write a business proposal , pitch deck and a sales presentation to get potential investors and clients excited about your idea.

Easily put together winning product proposals that close more sales in Visme

Trusted by leading brands

Recommended content for you:

Create Stunning Content!

Design visual brand experiences for your business whether you are a seasoned designer or a total novice.

About the Author

Mahnoor Sheikh is the content marketing manager at Visme. She has years of experience in content strategy and execution, SEO copywriting and graphic design. She is also the founder of MASH Content and is passionate about tea, kittens and traveling with her husband. Get in touch with her on LinkedIn .

• Join the AMA
• Find learning by topic
• Free learning resources for members
• Credentialed Learning
• Training for teams
• Why learn with the AMA?
• Marketing News
• Academic Journals
• Guides & eBooks
• Marketing Job Board
• Academic Job Board
• AMA Foundation
• Diversity, Equity and Inclusion
• Collegiate Resources
• Awards and Scholarships
• Sponsorship Opportunities
• Strategic Partnerships

We noticed that you are using Internet Explorer 11 or older that is not support any longer. Please consider using an alternative such as Microsoft Edge, Chrome, or Firefox.

Market Research Proposal Template

Use this template to create a proposal for a market research study.

• Estimated time required: 4 hours
• Skills required: Proposal writing

Get Full Access to This Resource With AMA Membership

Market Research Playbook

This tool can be used alone, but it’s also part of the comprehensive Market Research Playbook. It provides step-by-step planning guidance while also helping you utilize more than 25 downloadable tools from the popular AMA Marketer’s Toolkit library.

This tool is powered by Demand Metric .

By continuing to use this site, you accept the use of cookies, pixels and other technology that allows us to understand our users better and offer you tailored content. You can learn more about our privacy policy here

How to Write Product Proposals That Land Deals (+Examples)

Learn how to write product proposals with our expert tips. Discover inspiring product proposal examples and use templates to create your best deck yet.

8 minute read

helped business professionals at:

Short answer

What is a product proposal?

A product proposal is a document that outlines the concept, benefits, and roadmap of a new product. It's designed to persuade stakeholders or investors by showcasing the product's potential and how it addresses specific user needs or bridges market gaps.

Why do most product proposals fail?

Your product proposal is competing for attention against an army of competitors. For a busy decision-maker, 99% of proposals look alike.

Most product proposals fail because they fail to stand out. What are you doing to be that 1% that makes it in the door?

Stick around, and I’ll teach you how to write a product proposal that opens doors.

You’ll also get concrete examples and templates of product proposals that worked well for others like you.

Let’s dive in!

What should be included in a product proposal?

Creating a product proposal presentation is like painting a picture of your product's future – it needs to be vivid, compelling, and memorable.

Here's a list of essential elements to include, ensuring your proposal captures attention and convinces readers to buy into your vision.

11 elements of a product proposal:

Engaging introduction: Begin with a headline that grabs attention and succinctly presents your product idea.

Product overview: Provide a concise yet thorough summary of your product, highlighting its unique aspects.

Target market analysis: Clearly define and describe the intended market for your product, emphasizing its relevance to this group.

Consumer advantages: Clearly list the key benefits your product offers to its users and the problem it solves.

Market comparison: Analyze similar products in the market, showcasing how your product differentiates and excels.

Development roadmap: Outline the key stages in your product's development, including current progress and future goals.

Team: Introduce yourself, highlighting your background and experiences that add credibility to the product's success.

Promotional strategies: Detail your plans for marketing and promoting your product.

Pricing strategy: Discuss your product's pricing model, explaining how it aligns with market expectations and product value.

Financial projections: Provide calculated estimates of potential earnings, costs, and overall financial growth expectations.

Next step: End with a clear call to action, guiding readers on what to do next.

What is the best product proposal format?

When it comes to product proposals, format is key. The most popular product proposal formats include traditional documents and PowerPoint presentations.

Documents are great for detailed, text-heavy content, allowing for in-depth explanations and comprehensive data presentation.

PowerPoint presentations, on the other hand, are excellent for visually driven pitches, making them ideal for capturing attention with graphics and concise points.

Interactive decks combine the best of both worlds – the detail of documents and the visual appeal of presentations.

They stand out for their dynamic nature, allowing viewers to engage with the content through clickable elements, embedded videos, and interactive data visualizations.

It's a format that not only tells but shows the potential of your product, making it a powerful tool in any salesperson's arsenal.

You can see what an interactive product proposal looks like below:

Product proposal examples that sell your idea

Exploring product proposal examples is a great way to understand what leads to success.

In this section, we showcase a variety of proposals that have effectively achieved their goals, whether it’s securing investment, impressing stakeholders, or launching a product with a bang.

We'll break down what makes each example stand out. You'll see how clear communication, creative presentation, and a solid understanding of the audience and market come together to create a persuasive and impactful product proposal.

Product marketing proposal

This product marketing proposal outlines a strategic approach to boost business efficiency and growth, leveraging tailored consulting solutions to overcome common industry challenges.

What makes this product proposal example great:

Strategic insights and custom solutions: It offers actionable strategies and custom solutions tailored to specific business challenges, demonstrating a deep understanding of dynamic market needs.

Quantifiable success metrics: The proposal highlights proven impacts, such as revenue growth, market expansion, and client satisfaction rates, providing tangible evidence of its effectiveness.

Engaging and interactive presentation: Utilizing an interactive format, the proposal engages readers with a compelling narrative and easy-to-navigate sections, enhancing the overall user experience.

Product supply proposal

This product supply proposal shows how a well-structured presentation, combined with a clear value proposition and user-friendly design elements, can effectively communicate the benefits of a product, encouraging potential clients to take the next step.

Clear value proposition: The proposal effectively communicates a clear value proposition, emphasizing how the presented solutions address inefficiencies in IT systems.

Narrated design: It employs a narrated design approach in the key features section, making it easy for readers to understand the benefits of the offered solutions.

Embedded calendar for easy scheduling: Embedding your calendar in the deck simplifies the process for potential clients to schedule a meeting or demo, enhancing user engagement and facilitating immediate action.

Private label product proposal

This proposal effectively utilizes multimedia elements and customization options to enhance engagement and provide comprehensive insights into the product's value proposition.

Video on the cover: Incorporating a video on the cover page immediately engages viewers, providing a dynamic introduction to the product and setting the tone for the proposal.

Option to embed external links: The proposal includes the ability to embed a link to a detailed case study, offering potential clients a deeper insight into the product's impact and success stories.

Easy personalization: It offers the flexibility to easily create personalized versions of the deck in just a few clicks, allowing for a tailored presentation that can address the specific needs and interests of different clients.

Product distribution proposal

This product distribution proposal is designed to efficiently outline a strategic approach for expanding market reach through various distribution channels, leveraging digital tools for customization and adaptability.

What makes this product distribution proposal example great:

Easily customizable logo placeholders: The proposal includes easily customizable logo placeholders, allowing for quick branding personalization that aligns with the distributor or partner's corporate identity.

Option to edit details after sending the deck: It offers the flexibility to edit details even after the deck has been sent, ensuring that the information remains up-to-date and can be adjusted based on ongoing discussions or feedback.

Option to segment content in tabs: You can segment the content in tabs, making the proposal easy to navigate and allowing readers to quickly access the information most relevant to them.

Product development proposal

This product development proposal is crafted to showcase a strategic approach for creating innovative solutions, utilizing a dynamic and interactive presentation format that emphasizes key information and engages stakeholders.

What makes this product development proposal example great:

Use of grayed-out content: The proposal smartly uses grayed-out content to subtly guide the reader's attention towards the most critical information, ensuring focus on key points and decisions.

Various image and video placeholders: It is equipped with a variety of image and video placeholders, allowing for a rich, multimedia presentation of the product concept, features, and potential impact, making the proposal more engaging.

Option to add an accept button: Including an 'Accept' button streamlines the decision-making process and facilitates quicker progression to the next stages of development.

Software product proposal

This product proposal is designed to present a software solution that combines the charm of retro gaming with modern technology. This deck is ideal for showcasing software products that appeal to both nostalgia and contemporary user needs.

What makes this product proposal great:

Captivating introduction: The deck starts with a compelling introduction that sets the stage for the software's unique features and potential impact.

Mission and vision communication: The proposal articulates a mission that focuses on reconnecting generations through the shared joy of gaming, adding depth to the product's purpose.

Interactive elements for user experience: It incorporates interactive elements like demos or virtual tours, enhancing user engagement and understanding.

Physical product proposal

This physical proposal deck is specifically designed for introducing a tangible product, in this case, high-end headphones. It combines technical details with a focus on user experience, making it ideal for a product that blends technology with lifestyle.

Engaging product storytelling: The proposal opens with a compelling narrative about the product, focusing on its unique features and user benefits.

Strategic market positioning: It features a market analysis section, focusing on positioning the product in a competitive landscape.

Target audience identification: It includes a section for defining the target audience, focusing on demographics, preferences, and buying behaviors.

Product business proposal

This proposal is a specialized presentation designed to effectively communicate a product's strategic plan and development journey. It's crafted to be both informative and engaging, with features that enhance the presentation and understanding of the product strategy.

Interactive timeline: It features an interactive timeline that allows viewers to explore the key value propositions.

Built-in analytics panel: The deck features a built-in analytics panel that tracks its performance. This tool provides valuable insights into viewer engagement, helping to measure the effectiveness of the proposal and make data-driven improvements.

Smart CTA with an embedded calendar: The proposal includes a smart call-to-action feature with an embedded calendar, enabling readers to easily schedule a meeting or consultation directly from the proposal.

How to write a product proposal?

Crafting a product proposal is like telling a compelling story where your product is the protagonist. It's not just about listing features; it's about weaving a narrative that captivates, convinces, and converts. Here’s how you can do it in a few simple steps.

7 steps to write a product proposal:

1) Understand your audience

Know who you're speaking to. Whether it's investors, stakeholders, or potential customers, understanding their needs and expectations is crucial. Tailor your product proposal to address their specific interests and concerns.

2) Define your product’s unique value

What makes your product unique? Focus on the features that set your product apart from the competition. Explain how it solves a problem or fulfills a need better than anything else out there.

3) Structure your proposal effectively

Start with an engaging introduction that piques interest, such as a surprising statistic or a relatable anecdote.

Then, detail your product with a focus on benefits, not just features. Conclude with a call to action that's clear and compelling, like inviting stakeholders to a demo. Make sure every section flows logically into the next.

4) Use persuasive language

Your choice of words can make a big difference. Use persuasive language that evokes emotion and creates a sense of urgency. However, avoid over-exaggeration; stay credible and authentic.

For example, instead of saying, "Our product increases productivity," say, "Imagine reclaiming 10 hours a week with our productivity tool." This approach makes the benefit tangible and personal.

If you want to learn more, check out our guide on how to make a persuasive presentation .

5) Provide concrete data and research

Support your proposal with market research, user testimonials, or case studies. For instance, use data to show market trends that support the need for your product, or include a case study of a beta tester who significantly benefited from your product. Use generative AI to gather such insights.

6) Address potential concerns

Identify potential objections and address them head-on. For example, if cost might be a concern, include a comparative analysis showing long-term savings compared to competitors. This approach demonstrates foresight and builds trust.

7) End with a memorable conclusion

Your conclusion should be more than a summary; it should be a final, persuasive pitch. For instance, conclude with, "Be a part of the revolution in enhancing project management efficiency by arranging a demo with us today."

You can also use a conclusion generator to craft a compelling closing statement, on top of embeding your calendar directly into the proposal to make taking that next step easier than ever.

Here's a great example of a deck with an embedded calendar:

Similarly, adding an 'Accept' button to your proposal can streamline the decision-making process. This simple yet powerful feature dramatically reduces friction, letting your clients commit with just a single click.

This effectively shortens the sales cycle, paving the way for quicker, more efficient business transactions.

Here's an example of a deck with an accept button:

How to design a product proposal?

Designing a product proposal is about creating a visual journey that captivates and informs. It's not just about what you say; it's about how you present it.

A well-designed proposal can significantly enhance the impact of your message, turning a simple document into an engaging experience.

7 design tips for your product proposal:

1) Embrace scrollytelling

Scrollytelling , or scroll-based storytelling, brings your proposal to life, turning static information into an interactive journey. As the reader scrolls, they're drawn into a story that unfolds with each swipe, keeping them engaged and interested.

Here's a great example of scrollytelling in action:

2) Personalize your deck

Personalize your proposal by integrating with a CRM to automatically extract elements like the prospect's name or company name. This level of personalization shows attention to detail and creates a connection with the prospect, making the proposal feel tailor-made for them.

Here's an example of a personalized proposal slide:

3) Use data visualization

Go beyond basic charts and graphs. For example, use interactive timelines to show market trends or animated graphs to demonstrate user growth. This approach makes complex data easily digestible and engaging.

Here's a great example of data visualization use:

4) Include visuals and demonstrations

High-quality images, videos, or even interactive demos can significantly enhance your proposal. They allow the reader to see your product in action, providing a clearer understanding of its features and benefits.

For instance, a short video demo can be more effective than pages of text in explaining how your product works.

Here's an example of a visual proposal:

5) Design for all devices

In today's mobile-first world, your proposal needs to look great on any device. Responsive design ensures that your proposal adapts to different screen sizes, providing a seamless experience whether it's viewed on a desktop, tablet, or smartphone.

Here's what a responsive deck looks like:

6) Use consistent branding

Your proposal should reflect your brand's identity. Consistent use of colors, fonts, and logos reinforces your brand and builds trust. Every element of your proposal should align with your brand's aesthetic and values.

Here's an example of a branded deck:

7) Add interactive elements

Incorporate interactive elements like clickable tabs, expandable sections, or embedded ROI calculators that prospects can adjust to see the potential return on their investment.

These features not only make your proposal more engaging but also allow readers to explore your product in a way that's hands-on and make its benefits more tangible.

Here's a great example of an interactive slide:

Interactive product proposal templates

Crafting a proposal from scratch requires not only a deep understanding of your product but also skills in design, storytelling, and data presentation.

This is where interactive product proposal templates become invaluable. They offer a well-structured starting point, saving you from the blank slide syndrome and hours of design work.

With customizable features, these templates allow you to infuse your brand's identity and tailor the content to your product's unique story.

Grab one from the library below.

Hi, I'm Dominika, Content Specialist at Storydoc. As a creative professional with experience in fashion, I'm here to show you how to amplify your brand message through the power of storytelling and eye-catching visuals.

Found this post useful?

Subscribe to our monthly newsletter.

Get notified as more awesome content goes live.

(No spam, no ads, opt-out whenever)

You've just joined an elite group of people that make the top performing 1% of sales and marketing collateral.

Create your best product proposal to date.

Stop losing opportunities to ineffective presentations. Your new amazing deck is one click away!

Home • Knowledge hub • How to write a market research report for a new product launch

How to write a market research report for a new product launch

When launching a new product to market, it’s imperative to be prepared with relevant information. You need a deep understanding of your market, how your products will benefit that market, the potential challenges you might run into, and much more.

This is why it’s so important to write an in-depth, professional, and relevant market research report. Not only to gather and display all the right information but also so that you can share that information clearly and easily with people within and outside your organization. This is important for a wide range of different reasons.

In this article, we’ll look at why market research reports for product launches are so important and show you how to do it as effectively as possible.

Why market research reports are important

Conducting a detailed and relevant market research report before you launch your new product is a good idea for all kinds of reasons. Here are some of the main ones:

• Get buy-in from senior decision-makers . When launching any product, you’ll always want the full support of the top decision-makers at your organization. This can be a tricky thing to acquire, especially if your team is relatively unproven. A detailed and informative market research report can be the deciding factor in winning their support, convincing them that your product is well-placed to succeed, and making it much easier to achieve your goals.
• Learn more about your customers and target audience . One of the main reasons to conduct market research is to understand your prospective customers in more detail. The work you do to compile a report will give you a clear and detailed understanding of what your customers want, what they already like, where they conduct their own research, and much more. This will arm you with the insights and knowledge you need to launch your product confidently and successfully.

Discover ideas for new products and how to improve existing ones . When you research your target market, you’ll likely stumble upon inspiration for new products in addition to the one you’re planning to launch. The feedback you get from your research will also be laced with ideas for improving and tweaking existing products

Get regular insights

Keep up to date with the latest insights from our research as well as all our company news in our free monthly newsletter.

• First Name *
• Last Name *
• Business Email *

How to write a market research report effectively

In the rest of this guide, we’ll show you what you need to do to ensure your market research report is as detailed, relevant, and valuable as it possibly can be. Let’s start with the type of information you need to include.

What you need to include:

Buyer personas.

This is a crucial part of getting to know your customers and the different groups they fall into. You should start by researching your target market members as much as possible through a range of channels — interviews, social media research, email surveys, and more. Then, divide them into demographics and create a detailed persona to represent each one.

This is an incredibly valuable step because it allows you to break down your market and make broad predictions about each group’s preferences, pain points, habits, and desires. If done right, this helps you target your future marketing much more accurately and effectively.

Understand your competitors

Getting to know your competitors is a key element of market research. It allows you to understand what you will be up against when launching your product and what segments of your market might be easier or more difficult to sway from their loyalty to your competitors.

Your research report should contain detailed information about each of your competitors and what they offer. What do their products lack that yours can provide? Why do your customers go to them? How dominant are they in your market? What kind of loyalty do they command? What are some of the keys to their success? All this will help you understand what you’re up against and strengthen your chances of success.

Who did you talk to?

Much of your market research will involve talking to various people and groups of people in situations like focus groups, interviews, and surveys. It’s important to document this side of your research carefully and include it in your market research report. Be sure to break down the people you spoke to into demographics and be as specific as possible — try to align this with your buyer personas.

This will help you understand what different demographics want, identify any areas you may have missed, and see any opportunities for segmentation or expansion, as well as providing clear visibility into your research process and allowing you to justify your findings and decisions to other company members carefully.

Clearly show what will happen next — how will you use your findings? 

When you present your market research report to decision-makers in your organization, their primary concern will be what you want to do with it. Research is only valuable if it has a practical application, which should be a key element of your report.

It’s best to be specific — create plans and roadmaps for campaigns, build strategies, and include timelines and carefully researched cost estimates. If you can present a clear and viable plan for your product launch, it will be much easier to gain the support and buy-in of the higher-ups in your company. Be ready to defend and justify these plans.

Primary vs Secondary Market Research

There are two main types of research you’ll need to do when preparing your market research report: primary and secondary. Here is the difference:

• Primary research . This refers to the first-hand information you have gathered during your research — straight from the primary source. Examples include interviews with individuals, focus groups, surveys, and information from sales teams. It helps add a human touch to your research, incorporating real people’s distinct voices and opinions.
• Secondary research. This is data that your company didn’t personally collect but is available in the form of things like public records, trend reports, and market statistics. While it lacks the specific human element of primary research, it’s a great way to gain valuable overall insights about your target market without having to conduct huge research projects yourself.

Convincing company decision-makers with your market research report

One of the most essential functions of a market research report is to convince your company’s key stakeholders that you are prepared for a product launch and have everything in place to begin the process successfully.

When creating your report, you should always have this goal in mind. Here are some ways to do that:

• Always clearly tie your research for business outcomes. For every conclusion your report reaches, explain what this means for the business and what concrete actions you will take as a result.
• Use as many stats and as much hard data as possible. Clearly express this data in the form of graphs and other visual aids. Show where your data came from, how you collected it, and how your findings will impact your product launch.
• Consider using Porter’s 5 Forces Model . This business model is aimed at understanding and explaining the fundamental market forces at work in any given industry. It can be illuminating to tie your research into this model.

A well-researched and detailed market research report is an essential part of a successful product launch strategy. It allows you to clearly understand your market, formulate concrete plans and strategies, and gain the support of your organization’s decision-makers.

Without one, you’ll be plunged into the dark, facing the monumentally challenging task of launching a product without the support of extensive research and data. To find out more about how Kadence can help you prepare a market research report and launch your product with confidence, contact us .

Helping brands uncover valuable insights

We’ve been working with Kadence on a couple of strategic projects, which influenced our product roadmap roll-out within the region. Their work has been exceptional in providing me the insights that I need. Senior Marketing Executive Arla Foods

Kadence’s reports give us the insight, conclusion and recommended execution needed to give us a different perspective, which provided us with an opportunity to relook at our go to market strategy in a different direction which we are now reaping the benefits from. Sales & Marketing Bridgestone

Kadence helped us not only conduct a thorough and insightful piece of research, its interpretation of the data provided many useful and unexpected good-news stories that we were able to use in our communications and interactions with government bodies. General Manager PR -Internal Communications & Government Affairs Mitsubishi

Kadence team is more like a partner to us. We have run a number of projects together and … the pro-activeness, out of the box thinking and delivering in spite of tight deadlines are some of the key reasons we always reach out to them. Vital Strategies

Kadence were an excellent partner on this project; they took time to really understand our business challenges, and developed a research approach that would tackle the exam question from all directions.  The impact of the work is still being felt now, several years later. Customer Intelligence Director Wall Street Journal

Get In Touch

" (Required) " indicates required fields

Privacy Overview

4+ SAMPLE Market Research Proposal in PDF

Market research proposal, 4+ sample market research proposal, what is a market research proposal, different types of market research proposal, benefits of a market research proposal, basic components of a market research proposal , how to write a market research proposal, what are the different types of market research, what are the fundamental elements of a market research proposal, what are the basic methods of creating a research proposal, what are the general types of market research methodologies.

Market Research Proposal Template

Sample Market Research Proposal

Consumer Market Research Proposal

Market Research Proposal in PDF

Organic Market Research Proposal

1. brand research proposal, 2. campaign effectiveness research proposal, 3. competitive analysis research proposal, 4. consumer insights research proposal, 5. customer satisfaction research proposal, 1. promote exploration and investigation, 2. better customer insight, 3. lead positive changes , 4. data discovery and analysis, 5. allow forecast of market share, share this post on your network, you may also like these articles, title project proposal.

In this comprehensive guide, we will explore the essentials of crafting an effective Title Project Proposal. Whether you're applying for a grant, pitching a new project, or seeking approval…

25+ SAMPLE Construction Company Proposal in MS Word

Navigating the intricate world of construction demands a seasoned company with a proven track record. Our comprehensive guide on the Construction Company Proposal is your blueprint to understanding the…

browse by categories

• Questionnaire
• Description
• Reconciliation
• Certificate
• Spreadsheet

Information

• privacy policy
• Terms & Conditions

Free Marketing Research Proposal Template

Fully editable with custom branding and templated offering.

Bonsai has helped create 1,023,928 documents and counting.

Table of contents

What is a Marketing research proposal?

A marketing research proposal is a document designed to sell your services by showing potential clients the research that you will carry out for their project. Whether you’re a freelance marketing consultant or you have your own marketing agency, a market research proposal will cover what research needs to be done, how you’ll go about it, and why they should choose you for the project.

A proposal is typically one of the first points of contact that you have with an organization. Therefore, it’s a chance to make a strong first impression.

Note: Sign up now to get your free marketing research proposal template that will make yours stand out for all the right reasons.

What to include in the Marketing research proposal

A market research proposal will outline your market research plan and each critical step you need to take to perform the necessary research. It usually consists of three parts.

• Introduction: This includes project objectives and scope, target market, and methodology, including data collection methods.
• Discussion: This covers existing knowledge of the market, case studies or competitor analysis, a project timeline, proposed budget, deliverables, and ethical considerations. ‍
• Summary: This concludes what you expect to achieve from the market research, how it will support the initial objectives, and why your company is the best for the job.

Introduction

At the top of any market research proposal template should be the title of your document followed by who it has been written by and who it’s for. You can also include both company addresses here if you wish.

Proceed to outline the project description and the purpose of performing the market research. What are you trying to achieve? Why is this research needed? Who will be conducting it? What problem are you trying to solve for the client?

You should also include a methodology section in your introduction. The research methodology should dive into what primary and secondary research will be conducted, how data will be collected, and the expected outcomes. As a freelance researcher, you’ll already know this, but it’s worth covering what’s included in each to the client:

• Primary research is research that you carry out yourself in the form of two research methods: qualitative and quantitative research. Qualitative research relies on first-hand observation from things like interviews, questionnaires, and focus groups. Quantitative research, on the other hand, relies on the collection and analysis of data from an online survey and polls.
• Secondary research is research that has already been published and comes from secondary sources. This may include academic literature, print publications, and online studies.

It’s important to give an overview of your target audience in your methodology too.

For instance, if your client is trying to determine whether it’s a good time to launch a new product, your methodology in your market research proposal would explain how you plan to arrange a focus group with their target audience of females aged 16-24. Being present in the meeting, asking the right questions, and making notes to refer to later on would confirm whether the prospective product could be useful and — ultimately — successful.

The discussion section of your marketing research proposal is typically the meatiest. It’s where you should demonstrate what you already know about the industry and company, while getting into the finer details of the market research project.

• Existing Industry Knowledge: Prospective clients are likely going to want to hire someone who knows what they’re talking about. Right? Demonstrate that’s you by discussing the market and how it’s being affected in terms of the PEST analysis (politically, economically, socioculturally, and technologically). You can also cover case studies or a competitor analysis of companies that have already undertaken the same research and achieved similar goals.
• Timeline: For the research items that you listed in your methodology, include time frames of when each one will be conducted. You don’t have to be super precise here — it’s more about giving your client a realistic idea of the timings of key project milestones. However, exact details can be tweaked and laid out in a marketing research contract once your proposal and project quote has been approved.
• Proposed Budget: Any market research proposal template has to include a budgeting section. This is where you would break down how much you expect the research to cost, while offsetting it with how the client can make the most out of their investment. Just like with the timeline, the information doesn’t have to be exact at this stage. It’s more a rough estimate to ensure that the project expectations of both parties align.
• Deliverables: This section should answer any questions that a prospective client may have on the general organization of the project. In other words, it should tell them how you plan to present the research and its findings, whether it’s in the form of a one-off report, series of meetings, or collaborative Google Docs. You may choose to hand-deliver a printed copy of your findings or email through a PDF file. Either way, this section is a significant part of a market research proposal as the findings taken from the document need to be actionable by the marketing team.
• Ethical Considerations: This part of the market research proposal should outline any ethical issues that may arise throughout the course of your research, from conflicts of interest to concerns about supplier relationships. It should also cover how you plan to deal with participants, data gathering, and privacy issues before the project has even begun.

For example, you may write something like the following: “Each participant will be told that their input in this research is voluntary. They will be provided with a form to assure them that their data will remain confidential for the purposes of this research and won’t be used by third parties. They must sign this form in person or we can accept digital signatures to consent to these terms.”

The summary tends to be the shortest section of your market research proposal. It’s where you would refer back to the initial project objectives and conclude the desired outcomes from the market research.

It’s a good idea to end on a punchy note by describing why your potential client should become an actual client.

• What can your company offer to this project that no other company can?
• Why are you the perfect person or team to perform the research?
• What makes this proposal unique?

Don’t lose sight of the fact that you’re trying to convince somebody (or some people) of your value. You want them to take action after reading your proposal, which is why you should include a compelling Call-To-Action (CTA). Let them know what the next steps entail, and how to take them.

How to write a Marketing research proposal

The truth is, it’s difficult to draft a market research proposal without some key information from your prospective client.

To gather all of the details you need to create a winning marketing research proposal, follow the below steps.

Find out exactly what the client wants to achieve

During your initial email or phone discussion, ask your client what they want to get out of the research. Are they rebranding and want to redefine their target market? Or are they testing out a new product with a small group of people before unleashing it to the masses?

Either way, it’s useful to know their final goals so that you can start to make a plan on how to help them achieve them.

Discuss the finer details

Alongside your prospective client’s research objectives, you need to find out more details in terms of their:

• Target demographics
• Project deadline
• Project budget

You should also ask them if there’s any other key information that they would like you to include in the market research proposal. This will ensure that you have everything you need upfront without having to make extensive edits later on.

Figure out what sets you apart

Keep in mind that you haven’t been awarded the job yet. A work proposal is essentially a sales document — it almost serves as a resume before the client decides that you’re the ideal person to hire.

As such, do some company research to put you ahead of your competition. Is there a link you can make with the company based on your background and interests? Why should they care about you? What do you offer that no one else does?

Be sure to feature all of this information in your market researching proposal, and don’t be afraid of highlighting your strengths and wins.

Creating a Marketing research proposal is simple with Bonsai

There's plenty to think about when conducting marketing research, which is why you can make life a little simpler with Bonsai. Bonsai's all-in-one tool for small businesses, freelancers, and entrepreneurs streamlines administrative tasks and covers all bases when it comes to proposals, contracts, and invoices.

You can find a template specific to market research and edit it to meet your needs in minutes. Then all you have to do is send it off to your client, which you can do without even leaving the platform. Talk about a time- and energy-saver!

The marketing research proposal template is professional and refined in structure. This provides clarity to your potential client by laying out exactly what you can do for them within their timeline and budget.

Simply enter your information, sit back, and be prepared to wow your prospective client so much that they hire you on the spot.

Note : Sign up for free and get started!

Marketing research proposal FAQs

How long should a marketing research proposal be.

A market research proposal should be concise and fluff-free. It should cover all the obligatory information without dragging it out. After all, prospective clients are busy reviewing other proposals and working on further aspects of their business.

The perfect length is between 1-2 pages, but try to ensure that it’s no more than 3.

What should the tone and writing style of a marketing research proposal be?

Because your market research proposal is only a couple of pages long, the writing style should be clear and easy to read. The language should be simple, everyday, and familiar, using short sentences that get to the point and won’t clutter up the document.

The tone of your plan should be informative and position you as the expert to leave a positive, long-lasting impression on your prospective client.

What is the main purpose of marketing research?

Marketing research aims to investigate and assess how certain factors influence consumer behavior. This provides key insights that are relevant to decision making.

Marketing research can identify new business opportunities and avoid business failures. That said, above all, it can be used to inform a company’s marketing strategy to help them achieve their business goals.

How do you write a marketing research proposal?

What is market research and examples, what is research proposal template.

Marketing Agreement Template

Free Influencer Collaboration Agreement Template

Free Co Marketing Agreement Template

Free Social Media Contract Template

Free Social Media Invoice Template

Free SEO Invoice Template

Free Public Relations Invoice Template

Free Marketing Invoice Template

Free YouTube Marketing Proposal Template

Free Social Media Proposal (RFP)

Free Social Media Marketing Quotation Template

Free Digital Marketing Quotation Template

Free WordPress Website Proposal (PDF)

QuickBooks Proposal Template

Spec Sheet Template

Free Website Redesign Proposal Template

Free Website Proposal Template

Free Video Production Proposal Template

Free Website Development Proposal Template

Best Virtual Assistant Proposal (Free & Customizable)

Free Translation Proposal Template

Free UX Design Proposal Template

Free Software Development Proposal Template

How to Write a Marketing Research Proposal

• Small Business
• Advertising & Marketing
• Market Research
• ')" data-event="social share" data-info="Pinterest" aria-label="Share on Pinterest">
• ')" data-event="social share" data-info="Reddit" aria-label="Share on Reddit">
• ')" data-event="social share" data-info="Flipboard" aria-label="Share on Flipboard">

How to Design a Focus Group Research Proposal

Principles of marketing engineering, what is demand estimation.

• How to Use Social Media for Qualitative Market Research
• What Is the Difference Between Primary & Secondary Data When It Comes to Market Research?

Marketing research is at the heart of addressing the four P’s of marketing: product, price, place and promotion. That is, the product must satisfy a need, be priced at the right level in a place where it will be seen by the right people and promoted to generate sales. The proposal is a rationale for undertaking a research project and as such it must be persuasive, written in non-technical language and thorough in its analysis.

Purpose and Scope

The marketing research proposal’s primary function is to state the question that the research will attempt to answer. The proposal may attempt to determine how to introduce a new product or to find out why sales are lagging with an established product. In addition to stating the objective, the proposal should include a descriptive background that provides the context of why the ultimate goal is important. If cost is a factor -- and it usually is -- the proposal should include an estimate. A timeline with major milestones or Gantt chart might be appropriate if the proposed research is of significant scope.

The Marketing Environment

Marketing research must include an overview of the marketing environment. Environmental factors include cultural issues (demographic trends and attitudes), technological issues (the internet and data interchange), competitive factors (pricing, service and speed) and economic concerns (competition and unemployment). Even the global market must be considered since the product may be made in a faraway land and compete with imports from other offshore locations.

Data Sources

Data can be gathered from primary or secondary sources. Primary sources include interviews, focus groups, surveys -- either face-to-face or online -- and customer feedback. Customers and prospective customers answer questions, discuss likes and dislikes and provide opinions about existing products; this information can illuminate prior market performance. Primary sources can be expensive or hard to obtain, so secondary sources provide alternative sources of information. Secondary sources include government publications, online searches, magazines, clipping services and trade organizations.

Methodology

Data analysis can be descriptive or statistical. Whatever measurement techniques are used, the researcher must be careful to maintain objectivity. In this section of the proposal the researcher must lay out the methodology that will be used to interpret the data, including a blend of research from primary and secondary sources. Qualitative aspects might include anecdotal evidence, measurement of the intensity of emotions from respondents, compiling consensus opinions from multiple inputs and the like. Quantitative analysis using figures can measure data precisely, offering exact outcomes for the hypothesis being tested. Alternative research methods should be explained to justify their inclusion.

• B2B Marketing: How to Write a Market Research Proposal
• MLT Creative: B2B Marketing Research
• B2B International: Planning Market Research
• QuickMBA: Marketing Research

Thomas Metcalf has worked as an economist, stockbroker and technology salesman. A writer since 1997, he has written a monthly column for "Life Association News," authored several books and contributed to national publications such as the History Channel's "HISTORY Magazine." Metcalf holds a master's degree in economics from Tufts University.

Related Articles

Market penetration analysis, the basic steps of the marketing research process, types of business research methods, attitude factor in market segmentation, how to identify the appropriate price strategy, what is product marketability, quantitative data interpretation, the qualifications of a marketing analyst, introduction to a cost analysis report, most popular.

• 1 Market Penetration Analysis
• 2 The Basic Steps of the Marketing Research Process
• 3 Types of Business Research Methods
• 4 Attitude Factor in Market Segmentation

Market Research Proposal Template

Capture clients' interest with this well-crafted Market Research Proposal Template – demonstrate research approach, expert knowledge, and potential results.

About this template

Secure more market research projects with our Market Research Proposal Template. Designed to showcase your research methodologies, expertise, and success stories, this visually engaging template demonstrates your capabilities and helps you win more business.

Capture the attention of potential clients by highlighting your unique approach to market research and the valuable insights you provide. Our Market Research Proposal Template is tailored to present the best of your research offerings, driving increased interest and bookings for your services.

What's included?

• Executive summary
• Timeline and costs

What is a Market Research Proposal?

A Market Research Proposal is a strategic document outlining the objectives, methodologies, timeline, and budget of a proposed research project. It's crucial in securing stakeholders' support by clearly communicating the project's value. Utilizing a proposal management system streamlines the creation and management of such proposals, ensuring efficiency, accuracy, and consistency in presenting the project's details and objectives to stakeholders.

Market research is vital for understanding target audiences and their preferences, uncovering new opportunities, and improving existing products or services.

Key elements in a proposal include clear research objectives, appropriate methodologies like surveys or interviews, a realistic timeline, and a well-planned budget covering all stages of the project. This essential document helps businesses efficiently conduct market research within their financial constraints.

When should you use a Market Research Proposal?

A Market Research Proposal is crucial when introducing a research project to stakeholders. It enhances the likelihood of securing internal funding or client approval. This proposal outlines the research's objectives, methodologies, expected outcomes, timeline, and budget.

Market research, a critical part of business strategy, provides insights into customers, competitors, and market trends. Your proposal should be tailored to meet stakeholder needs, focusing on the potential benefits for the company or how it can help external stakeholders achieve their goals.

Benefits of using Qwilr's Market Research Proposal Template?

Qwilr's Market Research Proposal Template offers several benefits that enhance your proposal creation process:

• User-Friendly : The template is designed to be simple and intuitive. You don't need advanced design skills to build an impressive, professional proposal.
• Customizable : You can tailor the template to meet your specific needs, including adding or removing sections, changing the color scheme and fonts, and uploading your company logos or images.
• Real-Time Collaboration : The platform allows for synchronous collaboration. You and your team can edit, comment, and fine-tune the proposal together, streamlining the process.
• Engagement Tracking : Qwilr provides analytics on proposal engagement, alerting you when someone views your proposal and how long they spend on each section.
• Responsive Design : With its adaptive design, your proposal will display correctly and attractively on any device, enhancing the user experience.

How do you use Qwilr's Market Research Proposal Template?

Here's a quick video overview of how to get started with this template:

Using Qwilr's Market Research Proposal Template is easy. To begin, simply select the template from the Qwilr library and customize it to match your needs. Add your business information, project objectives, and timeline for completion. You can also add visuals such as graphs or images that will help illustrate the proposal's key points. Once you're finished, share, and track engagement with your team or external clients.

A tool packed with features

Brand control.

Establish your brand settings once and automatically apply to every piece of collateral.

Collect payments instantly from customers with Stripe or direct to your own payment system.

Security & GDPR

Add security features like password protection and link expiry to protect sensitive content.

Embedded content

Add Calendly links, videos, surveys, Looms, GIFs and more to every page.

E-signature

Get deals signed on the spot with built-in e-signing ability.

Asset library

Create a library of reusable content for sales reps.

ROI calculator

Showcase your value with an interactive ROI calculator embedded in your Qwilr pages.

Team management

Set up permissions so your team accesses only what they need.

Interactive pricing

Empower buyers with interactive pricing plans and quotes.

Templates for every use case

Explore templates for sales, marketing, customer success, sales enablement and more.

• All templates
• Sales process
• Customer success
• Online brochure
• Sales proposal

Frequently asked questions

How do you write a market research proposal.

When writing a market research proposal:

• Start with an overview of the project's objective, methods, timeline, and budget.
• Describe the target market and research methodology, including the sampling method, sample size, data collection tool, and survey questions.
• Address potential limitations and provide a timeline for completion.
• Outline the budget and provide a breakdown of the cost estimate.

What are the components of market research proposal?

The components of a market research proposal include an overview of the project's objective, methods, timeline, and budget, as well as the target market and research methodology, a description of potential limitations, and a budget breakdown.

How do you create a market research proposal in Qwilr?

To create a market research proposal in Qwilr, select the Market Research Proposal Template and customize it to match your needs.

Add your business information, project objectives, and timeline for completion. You can also add visuals such as graphs or images that will help illustrate the proposal's key points.

Finally, share and track engagement with your team or clients.

How do you price a market research project?

To price a market research project, consider factors such as complexity, time, and manpower needed to carry out the research.

As a rule of thumb, pricing should be commensurate with the project's scope and level of effort.

It's also a good idea to evaluate the competition pricing to ensure you remain competitive without undercutting your work's value.

What makes an effective market research proposal?

An effective market research proposal clearly outlines the objective of the project, the research methodology, and the budget.

Detailed graphics and visual aids can help illustrate key points and make the proposal easier to understand. Additionally, a clear timeline for completion and potential limitations should be addressed.

Finally, it should be presented in a professional and visually-appealing format that can be easily shared and tracked.

• AI Content Shield
• AI KW Research
• AI Assistant
• SEO Optimizer
• AI KW Clustering
• Customer reviews
• The NLO Revolution
• Press Center
• Help Center
• Content Resources
• Facebook Group

New Product Proposal: Template & Effective Writing Tips

Table of Contents

Innovation and new ideas are critical in business. Whether you’re a small business owner or a multinational corporation, developing new products is essential to keep up with the changing market demands. Furthermore, it’ll help you stay ahead of the competition.

However, it’s not just enough to come up with a great idea – you need to be able to convince others of its value. That’s where a new product proposal sample comes in. A well-crafted product proposal is essential when pitching new product ideas to potential clients, investors, or partners.

In this article, we discuss what a product proposal is and how you can craft an effective one. We’ve also included a new product proposal sample to help you get started. 

What Is a Product Proposal?

A product proposal outlines and presents a new product or service to potential investors, stakeholders, or decision-makers . The proposal aims to convince stakeholders to invest in the product, support it, or approve it for development.

A well-crafted product proposal clearly and concisely describes the new product, its features, benefits, target market, and competitive advantage. It also includes a detailed plan for its development, marketing, and launch.

Your proposal should present the new product as the best solution for a recognized problem or need and excite your audience about your product.

A product proposal can be created in a video, presentation, or document format. Work with a format that lets you present your product’s features, benefits, and growth potential.

What to Include in a New Product Proposal

To create a captivating product proposal, consider your audience and tailor your proposal to their needs and expectations. 

Generally, a new product proposal sample should include the following elements:

Executive Summary

The executive summary is a concise overview of the product proposal, highlighting the proposal’s main points. It should be written to capture the reader’s attention and encourage them to read further. 

It should provide an overview of the problem/need, market demand, competition, and potential market share. And a brief description of the product’s features and unique selling proposition.

The executive summary should be brief, compelling, and give the reader a clear understanding of the proposal’s main objectives.

Problem and Solution

Specify the issue or need that your product attempts to address. Describe how your product will resolve that problem.

Your product may not be the only one available in the market. So instead of concentrating solely on “uniqueness,” make a strong argument by highlighting your research, motivation, and capacity to resolve the problem(s).

Market Opportunity

The market opportunity tells potential investors the demand for the product, the competition, and the potential market share. It also showcases the customer’s needs, the market trends, and the buying behavior of potential customers. 

This information helps ensure the product is tailored to the target audience, addressing their specific needs and preferences. Extensive market analysis will help you discover the market demand for the product and help you create unique buyer personas.

Significant Differentiators

What distinguishes you from your competitors? Emphasizing your product’s features and benefits is not enough. You must also specify why clients should select your solution over competing ones.

The one, two, or even three things that set your product apart are typically its key differentiators. This might be related to price, a particular feature its competitors don’t have or even accessibility.

Product Description

The product description is a detailed overview of the proposed product, including its features, benefits, and unique selling proposition. It should clearly explain what the product does and how it solves the customer’s problem.

The description should also highlight unique features that set the product apart from its competitors. It is important to provide a comprehensive and detailed product description to enable the reader to understand the product’s value proposition.

Product Demonstration

Even better than describing your product is displaying them in use. Your proposal presentation can include a practical product demonstration. If your product is software, you can even incorporate a pre-recorded demo into your digital document.

Videos of actual individuals using your tangible products can also be added. In essence, the product demonstration part focuses on how your product functions in the real world. So that your audience can completely appreciate its potential, worth, and usage.

Development Plan

The development plan outlines a clear and realistic product development plan. It should include a timeline for the development process, the resources required, and the budget.

This plan should be detailed enough to give the reader a clear understanding of the product’s development process and associated costs. It should also highlight any potential risks or challenges during the development process and how you will address them.

Marketing Plan

The marketing plan outlines the strategy for promoting and selling the product. It should identify the target market, the pricing strategy, the distribution channels, and the advertising and promotional activities.

Ensure that the marketing plan effectively promotes your product to intended audience. The plan should be based on a thorough understanding of the target audience, the competition, and the market trends.

Financial Projections

The financial projections include a forecast of the product’s revenue and costs. This includes a break-even analysis and a return-on-investment analysis. The financial projections should be realistic and based on sound assumptions.

It is important to consider the potential risks and uncertainties when developing financial projections. This will help to ensure that the projections are accurate and reliable.

Project Team and Investors

Mention your team members in your proposal, as this can significantly impact how your audience perceives your brand and product. If your team consists of seasoned experts who have previously worked on successful products, it will establish confidence and trust.

Including any current investors or business partners you may have can increase potential investors’ trust, seeing that other people support your idea.

Conclusion and Call to Action

Provide a summary of the key points and include a call to action. Remind the reader of the proposal’s main objectives and highlight the key benefits of the proposed product.

Also, encourage the reader to take action, whether investing in the product or providing feedback on the proposal. You may include interactive buttons that link to your social media pages or website.

Overall, your conclusion should leave the reader with a positive impression of the proposed product and the proposal itself.

How to Write an Effective Product Proposal

Writing a product proposal can be challenging, especially if you’re unfamiliar with formal documents. However, you can create a compelling and persuasive proposal that stands out with the right approach. 

Here are some tips for writing a compelling product proposal:

1. Conduct research.

The first step in writing an effective product proposal is to conduct thorough research on the product and its potential market. This involves identifying your target audience and analyzing competitors, customer needs, and market trends. 

It’s also important to know who you’re presenting your product proposal to, so as to ensure the proposal meets their needs and demands. Understand their interests, concerns, and priorities and personalize your proposal accordingly.

2. Develop a structured outline.

Once you have gathered sufficient information, create an outline for your proposal. This will serve as a framework for organizing your ideas and information in a logical and structured manner. Thus making it easier for readers to follow and understand your proposal.

3. Select a suitable proposal template.

Choose a proposal template appropriate for the type of product you are proposing. Templates provide a framework for the proposed layout and design, saving you time and ensuring a consistent visual appearance throughout the document.

4. Write clear and persuasive text content.

Begin writing your proposal using the outline and template as a guide. Clearly explain the product’s features, benefits, and unique selling points.

Include relevant statistics, data, or testimonials to support your claims and persuade readers of the product’s value.

5. Generate visual representations of market data.

Incorporate graphs, charts, or other visual aids to illustrate key market data and trends. This makes the information more engaging and easier to understand for the reader.

6. Add interactive elements

Consider adding interactive elements, such as videos or product demos, to your proposal. This can engage your audience further and provide a more immersive experience.

7. Establish your brand identity.

Ensure your proposal aligns with your company’s branding and style guidelines. This helps to create a consistent and professional image that reinforces your brand identity.

Once your proposal is complete, share it with your team, stakeholders, or potential customers. Make sure to also save a copy for your records.

New Product Proposal Sample (Template)

Follow this new product proposal sample to persuade readers of the value of your product.

Product Proposal: [Product Name]

Introduction:.

[Product Name] is a new product that is designed to meet the needs of [Target Audience]. Our product is a [Product Category] that offers [Unique Selling Point]. We believe that [Product Name] will be a game-changer in the market and provide an excellent solution to [Target Audience’s] needs.

Product Description:

[Product Name] is a [Product Category] that offers [Unique Selling Point]. It is a [Product Type] that is designed to provide [Benefit] to [Target Audience]. Our product is made from high-quality materials and is built to last.

[Product Name] has [Product Feature], which sets it apart from other products in the market. [Product Name] is easy to use, and its [Product Feature] makes it a must-have for [Target Audience].

Market Analysis:

The [Product Category] market is [Market Size and Growth Rate]. However, no product currently offers [Unique Selling Point]. We believe that [Product Name] will capture a significant market share due to its [Unique Selling Point].

Target Audience:

Our target audience is [Target Audience]. They are looking for [Benefit] and are willing to pay for a product that meets their needs. They are also [Demographics and Psychographics].

Marketing Strategy:

Our marketing strategy will focus on [Marketing Strategies]. We will employ [Marketing Tactics].

Revenue Projections:

We project that [Product Name] will generate [Revenue Projection] in the first year, with a growth rate of [Growth Rate] in the following years.

Conclusion:

[Product Name] is a unique and innovative product that will provide [Benefit] to [Target Audience].

Our product will be a game-changer in the market and will be successful due to its [Unique Selling Point]. We look forward to launching [Product Name] and providing our customers with an exceptional product.

Final Words

Creating a captivating new product proposal is essential to gaining support and investment for your product.

By including the right elements, using clear and concise language, you can create a persuasive proposal that captures your audience’s attention. 

Follow the new product proposal sample in this guide to create a compelling proposal that will persuade readers of the value of your product .

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

Explore All Proposal Generator Articles

Creative terms and conditions agreement in business proposal.

In business, proposals are essential for securing contracts and agreements with clients. However, a proposal is only complete with terms…

• Proposal Generator

Free guide to a statement of proposal sample

A statement of proposal is a document that outlines a proposed project or initiative in detail. It is typically used…

Free Proposal Letter for Training and Development for a Head Start

Training and development are essential to improve employees’ skills, knowledge, and productivity. A well-crafted training proposal can help an organization…

Detailed Guide to Free HR Consulting Proposal

HR consulting is an essential service for businesses of all sizes. HR consultants provide expert guidance to organizations on various…

Key Guide to Better Remote Work Proposal

The rise of remote work has been a significant trend in the business world over the last few years. With…

Guide to Free E-Commerce Proposal Template

E-commerce has become one of the most popular ways of doing business recently. With the increasing number of people using…

Marketing Research Proposal

Proposal maker.

Before conducting market research, you will need to create a market research proposal that will include a brief overview of the study to be undertaken. Its purpose is to seek approval from the readers, such as the business leaders, to proceed, which makes it very crucial. Thus, you will need a very persuasive proposal that will focus on what they are expecting. However, you don’t have to worry! We have prepared a list of marketing research proposal templates and examples below, which you can use as your guide in creating a winning proposal.

10+ Marketing Research Proposal Templates & Examples – Google Docs, MS Word, Pages, Editable PDF

1. market research proposal template.

• Google Docs
• Editable PDF

Size: A4 & US Letter

As a researcher, you should know that in every three people in the world, one uses  social media . With that said, 80% of the users on Instagram follow business profiles. Thus, if you are aiming to get more questionnaire correspondents, you should consider using online polls for specific questions concerning marketing to social media platforms. Get started and create your market research proposal with our easily editable  Market Research Proposal  Template .

2. Marketing Research Proposal Template

One of the factors that you have to consider when creating a market research proposal is the cost of conducting the entire study. Business leaders may want to know the estimated budget required to complete the research. It will help them decide if the survey is worth pursuing. That is why it is necessary to include it in your proposal. With our  Market Research Proposal Template,  you can create a clear  research grant budget  that you can include in your project.

3. Marketing Research Proposal Template

Size: A4, US

When writing a market research proposal , you should state the purpose of your study. For example, the reason you are conducting research is due to the dropping sales of the business you are serving. The purpose of the study may be to determine the cause of low sales and to find ways to increase the company’s sales. With that said, you may try out the  Marketing Research Proposal Template  (shown above) that you can use to create your market research proposal. This template comes with a masterfully designed layout and contents which you can fully customize to create a project with a precise purpose.

4. Market Research Proposal Template

The proceeds of the global  market research industry have been increasing year by year since 2009, where it experienced a slight plunge. Thus, if you are running a market research business, your company has the chance to grow big. Don’t miss the opportunity of your company’s chance of prosperity. Create a market research proposal for your prospected clients with our  Market Research Proposal Template . You can download this template in all file formats, so it will be easy for you to customize its contents.

5. Marketing Research Proposal for a Business to Business Model

Did you know that the 2018 business-to-business( BToB ) e-commerce sales exceeded the $954 billion forecast for the year? The total BToB e-commerce sales in the US reached up to $9 trillion. It is estimated to increase and reach up to 17% by 2023. Take the opportunity of increasing your company’s revenue by using this downloadable example as your guide on creating a winning research proposal for your possible clients.

6. Media Marketing Research Proposal Sample

Size: 340 KB

Many assumed that advertising through new media channels such as the internet is targeting only young audiences. This research focuses on proving the effectiveness of new media advertising to young readers. If you are planning to conduct a similar study or related to this subject, you may use this document to serve as your guide. You can download this 22-page document in PDF format.

7. Marketing Research Proposal for Estate Gardens Sample

Size: 476 KB

This marketing research proposal example tackles obtaining new sources of income and coming up with approaches to increase the product sales of an estate garden with their existing sources. This sample includes the necessary information that you can use as a guide in making your proposal more appealing to your clients. You can download this 27-page document in PDF file format and customize it according to your business needs.

8. Marketing Research Proposal Template

Size: 387 KB

This 5-page document includes an outline of a marketing research proposal . It also contains instructions and guidelines on how to write each part of the project, which can be enough to keep you guided until the end part of your proposal. It includes relevant links for more clarification about certain parts of the proposition. This file will serve your needs if you are in college and still learning on how to create a market research proposal.

9. Marketing Research Proposal Example

Not all popular social media are reigning in terms of advertisement. There may be media channels that are booming in terms of the number of viewers/users. However, there are a few more factors to consider for a company to list his product in an advertising firm. This marketing research proposal example examines how to make a large social media platform’s  advertising  more efficient. Download this file to learn more about this study on online marketing.

10. Sample Marketing Research Proposal

Size: 90 KB

As a businessman, you should be knowledgeable enough before you place your money into any diversified investment . If you already have a business, you may want to do more research about your product and gain an advantage in marketing. The  Sample Marketing Research Proposal  (shown above) discusses the uses of olive oil in general, the applications of existing products, and the most reliable ways to promote their products. If you are planning to create a proposal with a similar problem, download this file to get started.

11. Proposal for Association Market Research Sample

Size: 10 KB

The last example that we included in our list is a proposal for market research for an association. The study’s goal is to know the educational needs of the members and nonmembers of the association. If you are planning to research about a similar subject, you may want to check this sample out to get started in your research. You can download this file in PDF format for free. Try it now!

Text prompt

• Instructive
• Professional

Generate a proposal for a new school recycling program

Compose a proposal for a school field trip to a science museum.

Newly Launched - AI Presentation Maker

Researched by Consultants from Top-Tier Management Companies

Powerpoint Templates

Icon Bundle

Kpi Dashboard

Professional

Business Plans

Swot Analysis

Gantt Chart

Business Proposal

Marketing Plan

Project Management

Business Case

Business Model

Cyber Security

Business PPT

Digital Marketing

Digital Transformation

Human Resources

Product Management

Artificial Intelligence

Company Profile

Acknowledgement PPT

PPT Presentation

Reports Brochures

One Page Pitch

Interview PPT

All Categories

Must-Have New Product Proposal Templates with Examples and Samples

Sapna Singh

Every year, over 30,000 new items are launched in the consumer-packaged goods (CPG) market, with 95% failing to create any impact, whatsoever. According to Harvard Business School, companies’ most common difficulty when releasing a new product is a lack of preparedness.

When launching a new product or attracting new customers, the most important thing is communicating in a way that satisfies and closes the transaction. Click here  for more information on using well-crafted product proposal templates .

Producers, sellers, and marketers must recognize that introducing a new product in the marketplace necessitates substantial research, preparation, and deep understanding of the target audience. Businesses must listen, track, and collect information to tap into the market and determine what is missing. This demands the knowledge and support of research and marketing agencies to produce an exceptional proposal highlighting your goods in a way that people want.

Get a comprehensive solution for your business’s product advertising needs. To learn more, click  here .

This blog offers the correct launch plan, marketing collateral, promotional materials, and more to help you build, launch, and welcome your product. We’ve also included a few new product proposal templates and samples to get you started.

New Product Proposals: Get potential investors and clients enthused about your idea

These 'Must-Have New Product Proposal Templates' from SlideTeam help you convey product features, benefits, and growth potential. These templates help demonstrate to investors or clients why they should be interested in your concept by emphasizing market demand, financial projections, team strength, and other elements. Use them to highlight the value of your product and what sets it apart from competitors. The 100% customizable nature of the templates allows you to edit your presentations. The content-ready slides give you the much-needed structure.

SlideTeam’s best-in-class PowerPoint Templates make it simple to create winning product proposals that result in more sales.

Allow your new product to shine by using these aesthetically-stunning templates to arouse the interest of potential customers.

Template 1: M arket Research for New Product Proposal Template

Product research is an essential first step before product marketing, or moving to another stage of the product lifecycle. Use this PPT Template to build a market research proposal for your research company to sell your services. It contains a synopsis, objectives, current information, expected outcomes, target demographics, data collection techniques, a thorough research methodology, a project timeframe, planned budget, ethical considerations, and additional results. This complete deck demonstrates a wide range of qualitative and quantitative procedures that your research firm uses to acquire the most recent market data and assist clients in developing their marketing strategy. Use this presentation template to describe why this market research is needed and what contribution this project will make to the field. Download now!

Get it right away!

Download this template

Template 2: New Product Development Proposal Report

Use this PowerPoint Presentation to develop a persuasive proposal that emphasizes the value of your services in new product design. This adds to the product marketing strategy by comparing the value of the project that other designers are offering. It also demonstrates to investors or clients why they should be interested in your idea by emphasizing market demand, financial projections, team strength, and other elements. This PPT Presentation shows the services for the product design proposal, the action plan schedule, the vision, mission, introduction, project description, product design proposal, customer testimonials, terms and conditions, the company’s contact information, etc. Use this complete deck to assist clients in gaining traction for bringing something fresh to the market. Download now!

Template 3: Proposal for New Product Marketing

Product marketing advertises product features to customers. Use this PPT Template to streamline the business-to-business sales process between a seller and a buyer. It functions as a source of information, as well as a sales pitch to persuade the buyer. A cover letter, project context and objectives, the scope of work, plan of action, timeline, activities offered during a product launch, event cost structure, price packages, company overview, client testimonials, terms and conditions, next actions, and contact information are included. This download will aid in communicating the scope and budget of a marketing a new product. Save it now!

Position your brand for maximum visibility and ROI

Product proposal is a vital tool for any company looking to sell an idea, product, or service. Use SlideTeam’s PPT Templates to demonstrate the significant value your organization can provide to businesses in terms of promoting and delivering their products.

PS Explore our content-ready Product Launch Roadmap PPT Templates  for coordinating and managing your product’s release activities in an interactive product launch timetable.

FAQs ON NEW PRODUCT  PROPOSAL

What is a new product proposal.

A new product proposal is a well-defined and unified document that persuades clients or top management to allow the initiation of a specific new product development project, the renewal of an existing product, or the launch of a product into a new market. Business owners and project managers use it as a project management tool. It covers project description, the profile of the company or product development team, the new product project scope requirements, the budget, the timetable for the new product development, and other relevant facts.

How do you write a new product proposal?

• Conduct significant research for your product proposal to identify your target market, uncover challenges and demands, and comprehend how your solution fits into the picture.
• Make a proposal outline and identify sections you intend to include in your product proposal.
• Add relevant and compelling pictures to better promote your product and features.
• Use line graphs, bar graphs, pie charts, and other data types to visualize revenue, profitability, and costs.
• Check that your proposal adheres to your brand requirements.

What are the seven stages in the new product development process?

The product development lifecycle is divided into seven stages:

• Prototyping
• Development
• Improvement

Related posts:

• Why Product Management Templates Are a Must for Every Business in 2021
• Types of Product Roadmaps & Roadmap Templates for Successful Launch
• Complete Guide to Ansoff Matrix Model & Business Growth Strategies
• Top 10 Free Timeline Google Slides Templates to Nail your Project Delivery

Liked this blog? Please recommend us

Top 11 Product Proposal Templates to Highlight Your Key Strategies

Top 7 Product Launch Roadmap Examples with Templates and Samples

Top 5 Product Advertisement Templates with Samples and Examples

This form is protected by reCAPTCHA - the Google Privacy Policy and Terms of Service apply.

--> Digital revolution powerpoint presentation slides

--> Sales funnel results presentation layouts

--> 3d men joinning circular jigsaw puzzles ppt graphics icons

--> Business Strategic Planning Template For Organizations Powerpoint Presentation Slides

--> Future plan powerpoint template slide

--> Project Management Team Powerpoint Presentation Slides

--> Brand marketing powerpoint presentation slides

--> Launching a new service powerpoint presentation with slides go to market

--> Agenda powerpoint slide show

--> Four key metrics donut chart with percentage

--> Engineering and technology ppt inspiration example introduction continuous process improvement

--> Meet our team representing in circular format

• Starting a Business

Our Top Picks

• Best Small Business Loans
• Best Business Internet Service
• Best Online Payroll Service
• Best Business Phone Systems

Our In-Depth Reviews

• OnPay Payroll Review
• ADP Payroll Review
• Ooma Office Review
• RingCentral Review

Explore More

• Business Solutions
• Entrepreneurship
• Franchising
• Best Accounting Software
• Best Merchant Services Providers
• Best Credit Card Processors
• Best Mobile Credit Card Processors
• Clover Review
• Merchant One Review
• QuickBooks Online Review
• Xero Accounting Review
• Financial Solutions

Human Resources

• Best Human Resources Outsourcing Services
• Best Time and Attendance Software
• Best PEO Services
• Best Business Employee Retirement Plans
• Bambee Review
• Rippling HR Software Review
• TriNet Review
• Gusto Payroll Review
• HR Solutions

Marketing and Sales

• Best Text Message Marketing Services
• Best CRM Software
• Best Email Marketing Services
• Best Website Builders
• Textedly Review
• Salesforce Review
• EZ Texting Review
• Textline Review
• Business Intelligence
• Marketing Solutions
• Marketing Strategy
• Public Relations
• Social Media
• Best GPS Fleet Management Software
• Best POS Systems
• Best Employee Monitoring Software
• Best Document Management Software
• Verizon Connect Fleet GPS Review
• Zoom Review
• Samsara Review
• Zoho CRM Review
• Technology Solutions

Business Basics

• 4 Simple Steps to Valuing Your Small Business
• How to Write a Business Growth Plan
• 12 Business Skills You Need to Master
• How to Start a One-Person Business
• FreshBooks vs. QuickBooks Comparison
• Salesforce CRM vs. Zoho CRM
• RingCentral vs. Zoom Comparison
• 10 Ways to Generate More Sales Leads

Business.com aims to help business owners make informed decisions to support and grow their companies. We research and recommend products and services suitable for various business types, investing thousands of hours each year in this process.

As a business, we need to generate revenue to sustain our content. We have financial relationships with some companies we cover, earning commissions when readers purchase from our partners or share information about their needs. These relationships do not dictate our advice and recommendations. Our editorial team independently evaluates and recommends products and services based on their research and expertise. Learn more about our process and partners here .

How to Create a Market Research Plan

Before starting a business, you want to fully research your idea. A market research plan will help you understand your competition, the marketplace and more.

Table of Contents

While having a great idea is an important part of establishing a business, you’ll only get so far without laying the proper groundwork. To help your business take off, not only do you need to size up the competition, but you also need to identify who will buy your product, how much it will cost, the best approach to selling it and how many people will demand it.

To get answers to these questions, you’ll need a market research plan, which you can create yourself or pay a specialist to create for you. Market research plans define an existing problem and/or outline an opportunity. From there, the marketing strategy is broken down task by task. Your plan should include objectives and the methods that you’ll use to achieve those objectives, along with a time frame for completing the work.

What should a market research plan include?

A market research plan should provide a thorough examination of how your product or service will fare in a defined area. It should include:

• An examination of the current marketplace and an analysis of the need for your product or service: To know where you fit in the market, it’s important to have a broad understanding of your industry — covering everything from its annual revenue to the industry standards to the total number of businesses operating within it. Start by gathering statistical data from sources like the U.S. Bureau of Labor Statistics and BMI Research and consider the industry’s market size, potential customer base and how external factors such as laws, technology, world events and socioeconomic changes impact it.
• An assessment of the competition: By analyzing your competitors, you can discover strategies to fill market gaps. This involves identifying well-known competitors and noting trends they employ successfully, scrutinizing customer feedback about businesses in your sector, such as through online reviews, and understanding competitors’ product or service offerings. This knowledge can then guide the refinement of your own products or services to differentiate them from others in the market.
• Data about customers: Identify which segment of potential customers in your industry you can effectively target, considering their demographics — such as age, ethnicity, income and location and psychographics, including beliefs, values and lifestyle. Learn about the challenges your customers face in their daily lives and determine how the features and benefits of your offerings address their needs.
• The direction for your marketing in the upcoming year: Your plan should provide a clear roadmap for your marketing strategies for the next year, focusing on approaches to distinguish your brand from competitors. Develop marketing messages that resonate with and display empathy toward your target market and find ways to address customers’ needs and demonstrate value.
• Goals to be met: Outline goals your business would like to achieve and make these goals clear to all employees on your team. Create goals that are realistic and attainable while also making a meaningful impact on the business’s growth. Consider factors including your target number of products or services, the expected number of units to sell based on market size, target market behavior, pricing for each item and the cost of production and advertising.

How to create your market research plan

Doing business without having a marketing plan is like driving without directions. You may eventually reach your destination, but there will be many costly and time-consuming mistakes made along the way.

Many entrepreneurs mistakenly believe there is a big demand for their service or product but, in reality, there may not be, your prices may be too high or too low or you may be going into a business with so many restrictions that it’s almost impossible to be successful. A market research plan will help you uncover significant issues or roadblocks.

Step 1. Conduct a comprehensive situation analysis.

One of the first steps in constructing your marketing plan is to create a strengths, weaknesses, opportunities and threats (SWOT) analysis , which is used to identify your competition, to know how they operate and then to understand their strengths and weaknesses.

Step 2: Develop clear marketing objectives.

In this section, describe the desired outcome for your marketing plan with realistic and attainable objectives, the targets and a clear and concise time frame. The most common way to approach this is with marketing objectives, which may include the total number of customers and the retention rate, the average volume of purchases, total market share and the proportion of your potential market that makes purchases.

Step 3: Make a financial plan.

A financial plan is essentia l for creating a solid marketing plan. The financial plan answers a range of questions that are critical components of your business, such as how much you intend to sell, what will you charge, how much will it cost to deliver your services or produce your products, how much will it cost for your basic operating expenses and how much financing will you need to operate your business.

In your business plan, be sure to describe who you are, what your business will be about, your business goals and what your inspiration was to buy, begin or grow your business.

Step 4: Determine your target audience.

Once you know what makes you stand out from your competitors and how you’ll market yourself, you should decide who to target with all this information. That’s why your market research plan should delineate your target audience. What are their demographics and how will these qualities affect your plan? How do your company’s current products and services affect which consumers you can realistically make customers? Will that change in the future? All of these questions should be answered in your plan.

Step 5: List your research methods.

Rarely does one research avenue make for a comprehensive market research plan. Instead, your plan should indicate several methods that will be used to determine the market share you can realistically obtain. This way, you get as much information as possible from as many sources as possible. The result is a more robust path toward establishing the exact footprint you desire for your company.

Step 6: Establish a timeline.

With your plan in place, you’ll need to figure out how long your market research process will take. Project management charts are often helpful in this regard as they divide tasks and personnel over a timeframe that you have set. No matter which type of project management chart you use, try to build some flexibility into your timeframe. A two-week buffer toward the home stretch comes in handy when a process scheduled for one week takes two — that buffer will keep you on deadline.

Step 7: Acknowledge ethical concerns.

Market research always presents opportunities for ethical missteps. After all, you’ll need to obtain competitor information and sensitive financial data that may not always be readily available. Your market research plan should thus encourage your team to not take any dicey steps to obtain this information. It may be better to state, “we could not obtain this competitor information,” than to spy on the competitor or pressure their current employees for knowledge. Plus, there’s nothing wrong with simply feeling better about the final state of your plan and how you got it there.

Using a market research firm

If the thought of trying to create your own market research plan seems daunting or too time-consuming, there are plenty of other people willing to do the work for you.

Pros of using a market research firm

As an objective third party, businesses can benefit from a market research firm’s impartial perspective and guidance, helping to shape impactful brand strategies and marketing campaigns. These firms, which can help businesses with everything from their marketing campaigns to brand launches, deliver precise results, drawing on their expertise and experience to provide in-depth insights and solutions tailored specifically to your company’s needs. 

Even more, working with a market research firm can elevate a brand above the competition, as they provide credible and unique research that is highly valued by the media, enhancing brand credibility and potentially increasing website traffic, social media shares and online visibility.

Cons of using a market research firm

Although hiring a firm can provide businesses with tremendous results, certain downsides can lead a business toward the do-it-yourself route. Most notably, market research firms can be a costly expense that some businesses can’t afford. However, businesses that can allocate the funds will likely see a positive return on investment, as they are paying for the expertise and proficiency of seasoned professionals in the field.

Additionally, finding the right market research firm for your business’s needs can take some time — and even longer, ranging from weeks to months, for a market research firm to complete a plan. This lack of immediate results can be detrimental for businesses that don’t have the time to wait. 

Market research firms can charge into the thousands of dollars for a market research plan, but there are ways to get help more affordably, including:

• Outline your plans carefully and spell out objectives.
• Examine as many sources as possible.
• Before paying for any information, check with librarians, small business development centers or market research professors to see if they can help you access market research data for free.
• You may think you’ll need to spend a hefty sum to create a market research plan, but there are plenty of free and low-cost sources available, especially through university business schools that will guide you through the process.

Miranda Fraraccio contributed to this article. 

Get Weekly 5-Minute Business Advice

B. newsletter is your digest of bite-sized news, thought & brand leadership, and entertainment. All in one email.

Our mission is to help you take your team, your business and your career to the next level. Whether you're here for product recommendations, research or career advice, we're happy you're here!

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

9 Key stages in your marketing research process

You can conduct your own marketing research. Follow these steps, add your own flair, knowledge and creativity, and you’ll have bespoke research to be proud of.

Marketing research is the term used to cover the concept, development, placement and evolution of your product or service, its growing customer base and its branding – starting with brand awareness , and progressing to (everyone hopes) brand equity . Like any research, it needs a robust process to be credible and useful.

Marketing research uses four essential key factors known as the ‘marketing mix’ , or the Four Ps of Marketing :

• Product (goods or service)
• Price ( how much the customer pays )
• Place (where the product is marketed)
• Promotion (such as advertising and PR)

These four factors need to work in harmony for a product or service to be successful in its marketplace.

The marketing research process – an overview

A typical marketing research process is as follows:

• Identify an issue, discuss alternatives and set out research objectives
• Develop a research program
• Choose a sample
• Gather information
• Gather data
• Organize and analyze information and data
• Present findings
• Make research-based decisions
• Take action based on insights

Step 1: Defining the marketing research problem

Defining a problem is the first step in the research process. In many ways, research starts with a problem facing management. This problem needs to be understood, the cause diagnosed, and solutions developed.

However, most management problems are not always easy to research, so they must first be translated into research problems. Once you approach the problem from a research angle, you can find a solution. For example, “sales are not growing” is a management problem, but translated into a research problem, it becomes “ why are sales not growing?” We can look at the expectations and experiences of several groups : potential customers, first-time buyers, and repeat purchasers. We can question whether the lack of sales is due to:

• Poor expectations that lead to a general lack of desire to buy, or
• Poor performance experience and a lack of desire to repurchase.

This, then, is the difference between a management problem and a research problem. Solving management problems focuses on actions: Do we advertise more? Do we change our advertising message? Do we change an under-performing product configuration? And if so, how?

Defining research problems, on the other hand, focus on the whys and hows, providing the insights you need to solve your management problem.

Step 2: Developing a research program: method of inquiry

The scientific method is the standard for investigation. It provides an opportunity for you to use existing knowledge as a starting point, and proceed impartially.

The scientific method includes the following steps:

• Define a problem
• Develop a hypothesis
• Make predictions based on the hypothesis
• Devise a test of the hypothesis
• Conduct the test
• Analyze the results

This terminology is similar to the stages in the research process. However, there are subtle differences in the way the steps are performed:

• the scientific research method is objective and fact-based, using quantitative research and impartial analysis
• the marketing research process can be subjective, using opinion and qualitative research, as well as personal judgment as you collect and analyze data

Step 3: Developing a research program: research method

As well as selecting a method of inquiry (objective or subjective), you must select a research method . There are two primary methodologies that can be used to answer any research question:

• Experimental research : gives you the advantage of controlling extraneous variables and manipulating one or more variables that influence the process being implemented.
• Non-experimental research : allows observation but not intervention – all you do is observe and report on your findings.

Step 4: Developing a research program: research design

Research design is a plan or framework for conducting marketing research and collecting data. It is defined as the specific methods and procedures you use to get the information you need.

There are three core types of marketing research designs: exploratory, descriptive, and causal . A thorough marketing research process incorporates elements of all of them.

Exploratory marketing research

This is a starting point for research. It’s used to reveal facts and opinions about a particular topic, and gain insight into the main points of an issue. Exploratory research is too much of a blunt instrument to base conclusive business decisions on, but it gives the foundation for more targeted study. You can use secondary research materials such as trade publications, books, journals and magazines and primary research using qualitative metrics, that can include open text surveys, interviews and focus groups.

Descriptive marketing research

This helps define the business problem or issue so that companies can make decisions, take action and monitor progress. Descriptive research is naturally quantitative – it needs to be measured and analyzed statistically , using more targeted surveys and questionnaires. You can use it to capture demographic information , evaluate a product or service for market, and monitor a target audience’s opinion and behaviors. Insights from descriptive research can inform conclusions about the market landscape and the product’s place in it.

Causal marketing research

This is useful to explore the cause and effect relationship between two or more variables. Like descriptive research , it uses quantitative methods, but it doesn’t merely report findings; it uses experiments to predict and test theories about a product or market. For example, researchers may change product packaging design or material, and measure what happens to sales as a result.

Step 5: Choose your sample

Your marketing research project will rarely examine an entire population. It’s more practical to use a sample - a smaller but accurate representation of the greater population. To design your sample, you’ll need to answer these questions:

• Which base population is the sample to be selected from? Once you’ve established who your relevant population is (your research design process will have revealed this), you have a base for your sample. This will allow you to make inferences about a larger population.
• What is the method (process) for sample selection? There are two methods of selecting a sample from a population:

1. Probability sampling : This relies on a random sampling of everyone within the larger population.

2. Non-probability sampling : This is based in part on the investigator’s judgment, and often uses convenience samples, or by other sampling methods that do not rely on probability.

• What is your sample size? This important step involves cost and accuracy decisions. Larger samples generally reduce sampling error and increase accuracy, but also increase costs. Find out your perfect sample size with our calculator .

Step 6: Gather data

Your research design will develop as you select techniques to use. There are many channels for collecting data, and it’s helpful to differentiate it into O-data (Operational) and X-data (Experience):

• O-data is your business’s hard numbers like costs, accounting, and sales. It tells you what has happened, but not why.
• X-data gives you insights into the thoughts and emotions of the people involved: employees, customers, brand advocates.

When you combine O-data with X-data, you’ll be able to build a more complete picture about success and failure - you’ll know why. Maybe you’ve seen a drop in sales (O-data) for a particular product. Maybe customer service was lacking, the product was out of stock, or advertisements weren’t impactful or different enough: X-data will reveal the reason why those sales dropped. So, while differentiating these two data sets is important, when they are combined, and work with each other, the insights become powerful.

With mobile technology, it has become easier than ever to collect data. Survey research has come a long way since market researchers conducted face-to-face, postal, or telephone surveys. You can run research through:

• Social media ( polls and listening )

Another way to collect data is by observation. Observing a customer’s or company’s past or present behavior can predict future purchasing decisions. Data collection techniques for predicting past behavior can include market segmentation , customer journey mapping and brand tracking .

Regardless of how you collect data, the process introduces another essential element to your research project: the importance of clear and constant communication .

And of course, to analyze information from survey or observation techniques, you must record your results . Gone are the days of spreadsheets. Feedback from surveys and listening channels can automatically feed into AI-powered analytics engines and produce results, in real-time, on dashboards.

Step 7: Analysis and interpretation

The words ‘ statistical analysis methods ’ aren’t usually guaranteed to set a room alight with excitement, but when you understand what they can do, the problems they can solve and the insights they can uncover, they seem a whole lot more compelling.

Statistical tests and data processing tools can reveal:

• Whether data trends you see are meaningful or are just chance results
• Your results in the context of other information you have
• Whether one thing affecting your business is more significant than others
• What your next research area should be
• Insights that lead to meaningful changes

There are several types of statistical analysis tools used for surveys. You should make sure that the ones you choose:

• Work on any platform - mobile, desktop, tablet etc.
• Integrate with your existing systems
• Are easy to use with user-friendly interfaces, straightforward menus, and automated data analysis
• Incorporate statistical analysis so you don’t just process and present your data, but refine it, and generate insights and predictions.

Here are some of the most common tools:

• Benchmarking : a way of taking outside factors into account so that you can adjust the parameters of your research. It ‘levels the playing field’ – so that your data and results are more meaningful in context. And gives you a more precise understanding of what’s happening.
• Regression analysis : this is used for working out the relationship between two (or more) variables. It is useful for identifying the precise impact of a change in an independent variable.
• T-test is used for comparing two data groups which have different mean values. For example, do women and men have different mean heights?
• Analysis of variance (ANOVA) Similar to the T-test, ANOVA is a way of testing the differences between three or more independent groups to see if they’re statistically significant.
• Cluster analysis : This organizes items into groups, or clusters, based on how closely associated they are.
• Factor analysis: This is a way of condensing many variables into just a few, so that your research data is less unwieldy to work with.
• Conjoint analysis : this will help you understand and predict why people make the choices they do. It asks people to make trade-offs when making decisions, just as they do in the real world, then analyzes the results to give the most popular outcome.
• Crosstab analysis : this is a quantitative market research tool used to analyze ‘categorical data’ - variables that are different and mutually exclusive, such as: ‘men’ and ‘women’, or ‘under 30’ and ‘over 30’.
• Text analysis and sentiment analysis : Analyzing human language and emotions is a rapidly-developing form of data processing, assigning positive, negative or neutral sentiment to customer messages and feedback.

Stats IQ can perform the most complicated statistical tests at the touch of a button using our online survey software , or data from other sources. Learn more about Stats iQ now .

Step 8: The marketing research results

Your marketing research process culminates in the research results. These should provide all the information the stakeholders and decision-makers need to understand the project.

The results will include:

• all your information
• a description of your research process
• the results
• conclusions
• recommended courses of action

They should also be presented in a form, language and graphics that are easy to understand, with a balance between completeness and conciseness, neither leaving important information out or allowing it to get so technical that it overwhelms the readers.

Traditionally, you would prepare two written reports:

• a technical report , discussing the methods, underlying assumptions and the detailed findings of the research project
• a summary report , that summarizes the research process and presents the findings and conclusions simply.

There are now more engaging ways to present your findings than the traditional PowerPoint presentations, graphs, and face-to-face reports:

• Live, interactive dashboards for sharing the most important information, as well as tracking a project in real time.
• Results-reports visualizations – tables or graphs with data visuals on a shareable slide deck
• Online presentation technology, such as Prezi
• Visual storytelling with infographics
• A single-page executive summary with key insights
• A single-page stat sheet with the top-line stats

You can also make these results shareable so that decision-makers have all the information at their fingertips.

Step 9 Turn your insights into action

Insights are one thing, but they’re worth very little unless they inform immediate, positive action. Here are a few examples of how you can do this:

• Stop customers leaving – negative sentiment among VIP customers gets picked up; the customer service team contacts the customers, resolves their issues, and avoids churn .
• Act on important employee concerns – you can set certain topics, such as safety, or diversity and inclusion to trigger an automated notification or Slack message to HR. They can rapidly act to rectify the issue.
• Address product issues – maybe deliveries are late, maybe too many products are faulty. When product feedback gets picked up through Smart Conversations, messages can be triggered to the delivery or product teams to jump on the problems immediately.
• Improve your marketing effectiveness - Understand how your marketing is being received by potential customers, so you can find ways to better meet their needs
• Grow your brand - Understand exactly what consumers are looking for, so you can make sure that you’re meeting their expectations

Download now: 8 Innovations to Modernize Market Research

Scott Smith

Scott Smith, Ph.D. is a contributor to the Qualtrics blog.

Related Articles

May 20, 2024

Best strategy & research books to read in 2024

May 13, 2024

Experience Management

X4 2024 Strategy & Research Showcase: Introducing the future of insights generation

November 7, 2023

Brand Experience

The 4 market research trends redefining insights in 2024

June 27, 2023

The fresh insights people: Scaling research at Woolworths Group

June 20, 2023

Bank less, delight more: How Bankwest built an engine room for customer obsession

April 1, 2023

Academic Experience

How to write great survey questions (with examples)

March 21, 2023

Sample size calculator

November 18, 2022

Statistical analysis software: your complete guide to getting started

Stay up to date with the latest xm thought leadership, tips and news., request demo.

Ready to learn more about Qualtrics?

7 reasons Nvidia is poised to soar 67% as its rally continues for the next 2 years, according to a Wall Street research firm

• Constellation Research said Nvidia stock will soar 65% to $200 per share over the next year.
• The research firm said it expects Nvidia stock to continue soaring for the next 18 to 24 months as it benefits from its AI dominance.
• There are seven moats around Nvidia's business that will enable continued growth. 

Nvidia stock will surge to $200 per share over the next 12 months, and its ongoing rally is set to last up to another two years, according to Constellation Research.

Constellation founder R "Ray" Wang told CNBC on Monday that he believes Nvidia has seven moats that will help it maintain its dominant position in the market for GPUs that are fueling the AI boom.

"Nvidia is the foundational stock in the Age of AI. CEO Jensen Huang intends to achieve vertically integrated domination from silicon to software through partnerships and direct routes to market. Unlike the PC age where Microsoft, Intel, and Cisco served as a triumvirate foundational players, this new era will have new players all tied back to Nvidia," Wang told Business Insider in an e-mail on Monday.

These are the seven reasons Wang expects Nvidia stock to soar 65% from current levels.

1. Visionary founder-led CEO

"It's a visionary-led CEO, and that's very very important as you've seen in the valley. Those are the ones that have led, like the Larry Ellisons of the world, the scott Mcnealys, the Mark Zuckerbergs," Wang said.

2. High barrier to entry

"There's few competitors that can come into this chip market, and it takes a long time to get a chip to market, and if you can do that and if you succeed and then if you can actually get the right chip, that's a very hard thing to do."

3. High switching costs

"Once you're in, you're locked in because of the CUDA software and all the access to the chips, the software, and the entire stack. You're going to be locked in for quite some time and they've got quite a lead in terms of doing that."

4. Dominant market share

"Nvidia has had dominant market share, and I think that makes a big difference because they've been in this market for quite some time and the competitors are behind by 24 months."

5. Strong product roadmap

"We're only seeing one-tenth, maybe one-one hundredth of the product roadmap that Nvidia has out there, and that's really exciting for those who actually have some insight into what they have next, because it's more than just chips, and it's more than just what's happening in software. That ability to go from silicon all the way to the end side, that's where we're going to see a lot of the innovation."

6. GPU is the default standard in AI

"The ecosystem has made the GPU a default standard. It's the standard everyone's looking to for AI from inference and testing."

7. The numbers don't lie

"We're seeing some amazing growth here that actually matches the P/E ratio, and that's what everyone is looking at, they're trying to figure out how this is going to continue, but gross margins are 78%, 262% growth compared to a year ago, this is going to continue for at least the next 18 to 24 months."

Wang said the current 14% decline in the stock since it peaked at about $140 per share last week represents yet another buying opportunity for investors.

"The pullback is coming at a macro level. People are worried about the consumer side, people worried about where the economy is going to head, and they're doing some profit-taking before the summer, so I think it's a good time to buy the dip," Wang said.

Wang isn't the only analyst on Wall Street with a $200 price target for Nvidia stock.

Last week, Rosenblatt raised its Nvidia price target to $200 per share on the prospect of the company better monetizing its CUDA software platform.

• Main content