Enhance Your Market Research Using Report Templates in Excel

Are you tired of dull, lifeless market research reports? Do you wish there was a way to turn dry data into a captivating story?

Look no further.

With Excel as your trusty sidekick, you can transform your research results into a dynamic and engaging presentation. One that will have your audience on the edge of their seats.

How?

We have the market research report template that will turn your Excel skills from average to excellent. With this template, you can say goodbye to monotony and hello to creativity.

While market research may not be the most glamorous aspect of business, it is essential for success. This template will help you gather insightful data and analyze it with the precision of a sniper. Then present your findings in a way that will impress even the most skeptical stakeholders.

Dust off your keyboard, fire up Excel and get ready to revolutionize your market research game.

Table of Content:

1. What is a Market Research Report?
2. Market Research Methods
3. Market Research Reports Templates
4. How to Present Market Research Results in Excel?
5. Wrap Up

What is a Market Research Report?

Before exploring the templates, let’s start by understanding a market research report. In essence, it’s a comprehensive summary of your market research findings. It encompasses vital information from customer behavior to competitor analysis and market trends.

You can think of it as a weapon in the struggle for market dominance. It provides insights and recommendations based on collected data, which you can use to inform business decisions.

Market research reports can take many forms, from a simple PowerPoint presentation to a detailed written report. The format you choose will depend on your audience and the purpose of the report. The only thing to look out for is clarity and conciseness.

Market Research Methods

Market research methods vary from surveys and focus groups to online analytics. Among these, Google Forms has emerged as a popular option. This free tool enables you to create personalized surveys and gather real-time responses.

To illustrate this, let’s use an example of market research.

Let’s say you want to launch a new mobile phone. This necessitates you to collect market data to understand what customers want. Therefore, you want to conduct a market research survey of the following questions.

• How important is the operating system for you while purchasing a phone?
• How important is the screen size for you while purchasing a phone?
• To what extent does camera quality factor into your decision?
• To what extent does the color of the phone factor into your decision?

You want to map the response scale below to each question.

1. Extremely Unimportant
2. Unimportant
3. Not Sure
4. Important
5. Extremely Important

To create your survey in Google Forms:

• Open Google Forms and sign in with your Google account.
• Click the “Blank” button to create a new form.

• Give your form a title, description, or anything you want to add about your brand.
• Select the type of question you want to use, such as multiple-choice, checkbox, or short answer. In this case, select multiple choice.
• Type your questions in the “Untitled Question” section. Write “Option 1” and choose “Add option” for more options.
• Customize the look and feel of your survey.
• Preview your survey and make any necessary edits.
• Click the share button to distribute it to your target audience.

• Once you collect enough responses, click the “Link to Sheets” button.

• Download your responses as a .csv file from the dropdown menu.

Market Research Reports Templates

Once you’ve gathered the necessary data, it’s time to create a comprehensive market research report. But the question is, where do you begin? Luckily, there are a plethora of templates at your disposal. Below are the top market research report templates we highly recommend.

• Customer Satisfaction Chart

The Customer Satisfaction Chart is a valuable market research tool. It is a graphical representation of customer feedback and helps to identify improvement areas to enhance customer experience.

This chart includes product quality, customer service, price, and overall satisfaction categories. This provides a comprehensive way of gauging your customers’ level of contentment with your products or services.

• Likert Scale Chart

The Likert scale is a popular method of measuring attitudes and opinions in market research. It consists of a series of statements, each with a corresponding rating. The Likert Scale Chart template visualizes this data clearly and concisely.

The Likert Scale Chart is useful for researchers seeking to quantify subjective data. It allows you to measure the strength and direction of individual responses. You can analyze the responses in the aggregate to identify patterns and trends in attitudes and opinions. Then use them to inform decision-making and policy development.

How to Present Market Research Results in Excel?

Excel is the trusty sidekick of any data analyst, helping you organize, sort, and filter information. But it feels like trying to turn a bicycle into a sports car when it comes to visualization. Ok, you can add some fancy wheels and a spoiler. But trust me; it will never be a Ferrari.

However, there is a solution – ChartExpo.

CharExpo transforms your Excel data into insightful visualizations. You can create visualizations that make complex market research results look like a work of art.

Benefits of Using ChartExpo

• ChartExpo is the data visualization wingman you’ve been looking for. Its wide range of visualizations lets you choose the perfect match for your data.
• ChartExpo has an intuitive user interface. You can easily create insightful and appealing visualizations with no coding experience.
• ChartExpo lets you unleash your inner artist with its customization options. You can personalize your visuals by tweaking colors, fonts, and layouts to your heart’s content.
• ChartExpo offers a great bang for your buck. It has a free 7-day trial and a monthly $10 plan. You won’t find a better deal for transforming your Excel data into insightful visuals.

How to Install ChartExpo in Excel?

1. Open your Excel application.
2. Open the worksheet and click the “Insert” menu.
3. You’ll see the “My Apps” option.
4. In the office Add-ins window, click “Store” and search for ChartExpo on my Apps Store.
5. Click the “Add” button to install ChartExpo in your Excel.

ChartExpo charts are available both in Google Sheets and Microsoft Excel. Please use the following CTA’s to install the tool of your choice and create beautiful visualizations in a few clicks in your favorite tool.

Let’s say your market research survey yields the data table below.

Timestamp	How important is the operating system for you while purchasing a phone?	How important is the screen size for you while purchasing a phone?	To what extent does camera quality factor into your decision?	To what extent does the color of the phone factor into your decision?
10-13-2023 17:47:33	Extremely Important	Important	Extremely Important	Not Sure
10-13-2023 17:47:33	Important	Extremely Important	Not Sure	Important
10-13-2023 17:47:33	Important	Extremely Unimportant	Unimportant	Extremely Important
10-13-2023 17:47:33	Important	Extremely Important	Extremely Unimportant	Extremely Unimportant
10-13-2023 17:47:33	Unimportant	Important	Unimportant	Not Sure
10-13-2023 17:47:33	Extremely Important	Extremely Important	Extremely Important	Unimportant
10-13-2023 17:47:33	Unimportant	Extremely Unimportant	Extremely Unimportant	Important
10-13-2023 17:47:33	Unimportant	Important	Not Sure	Unimportant
10-13-2023 17:47:33	Extremely Important	Important	Unimportant	Extremely Unimportant
10-13-2023 17:47:33	Extremely Important	Not Sure	Unimportant	Extremely Unimportant
10-13-2023 17:47:33	Important	Unimportant	Important	Unimportant
10-13-2023 17:47:34	Extremely Unimportant	Unimportant	Not Sure	Important
10-13-2023 17:47:35	Not Sure	Important	Unimportant	Important
10-13-2023 17:47:36	Not Sure	Extremely Important	Important	Unimportant
10-13-2023 17:47:37	Unimportant	Not Sure	Unimportant	Extremely Unimportant
10-13-2023 17:47:38	Not Sure	Extremely Unimportant	Extremely Unimportant	Extremely Important
10-13-2023 17:47:39	Extremely Important	Extremely Unimportant	Important	Not Sure
10-13-2023 17:47:40	Unimportant	Not Sure	Extremely Important	Extremely Unimportant
10-13-2023 17:47:41	Unimportant	Extremely Unimportant	Extremely Unimportant	Extremely Unimportant
10-13-2023 17:47:42	Extremely Important	Unimportant	Unimportant	Extremely Unimportant

This table contains example data. Expect many responses and questions in real life.

• To get started with ChartExpo, install ChartExpo in Excel.
• Now Click on My Apps from the INSERT menu.

• Choose ChartExpo from My Apps, then click Insert.

• Once it loads, choose the “Likert Scale Chart” from the charts list.

• Click the “Create Chart From Selection” button after selecting the data from the sheet, as shown.

• When you click the “Create Chart From Selection” button, you have to map responses with numbers manually. The Likert scale has this arrangement:
• • Extremely Unimportant = 1
  • Unimportant = 2
  • Not Sure = 3
  • Important = 4
  • Extremely Important = 5
• Once all is set, click the “Create Chart” button.

• ChartExpo will generate the visualization below for you.

• If you want to have the title of chart, click on Edit Chart, as shown in the above image.
• To change the title of the chart, click on the pencil icon that is available very next to Chart Header.
• It will open the properties dialog. Under the Text section, you can add a heading in Line 1 and enable the Show Give the appropriate title of your chart and click on Apply button.

• Let’s say you want to add text responses instead of numbers against every emoji.
• Click the pencil icon next to the respective emoji. Expand the “Label” properties and write the required text. Then click the “Apply All” button.
• Click the “Save Changes” button to persist the changes.

• The final chart will look as below.

Insights

• 50% of customers consider the operating system a critical factor when buying a phone. 35% do not find it important, and 15% are neutral about this aspect.
• 45% believe the screen size is essential, while 40% do not.
• Camera quality is a crucial factor for 30%, while it is not a priority for 55%.
• 30% consider the phone’s color important, while 55% do not find it significant.
• Overall;
  • 39% of respondents prioritize different features when buying a phone, while 46% do not consider them essential.
  • 15% of customers are unsure and may sometimes prioritize features and sometimes overlook them.

FAQs:

What is a market research report template?

A market research report template serves as a blueprint for crafting a thorough and detailed report. The template enables researchers to systematize their ideas and discoveries by providing a well-defined structure. Most importantly, it helps to ensure that no vital element is overlooked.

What is the purpose of market research?

Market research serves the purpose of obtaining crucial insights into the market. It thoroughly scrutinizes customer behavior, market trends, and competitor tactics. By gathering this valuable information, you can make informed decisions. Consequently, carve out effective marketing strategies to gain a competitive edge.

What are some common market research methods?

Various market research methods include surveys, focus groups, and interviews. Surveys are versatile and easy to conduct, while interviews provide in-depth insights and empathy for the customer experience. Focus groups allow for natural conversation and discussion among participants.

How can I make my market research report more effective?

To enhance the impact of your market research report:

• Incorporate a concise and well-defined overview of the results.
• Leverage the power of visual aids such as charts and graphs.
• Offer practical recommendations that are rooted in the knowledge you’ve amassed.

Wrap Up

Market research is a crucial tool that aids businesses in comprehending their customers’ needs and preferences. Gathering valuable insights into customer behavior provides a roadmap for effective decision-making. This, in turn, enables you to tailor your offerings accordingly.

But it can be time-consuming and tedious to conduct research across multiple markets and industries. We have discussed three tools to help you through.

The first is a market research report template. This report template is designed to help you start on the right foot when conducting market research. It provides a comprehensive overview of your key findings—which you can use to inform your business decisions.

The second tool is Google Forms. With Google Forms, conducting surveys, collecting data, and analyzing responses is a breeze, all free.

Then ChartExpo – a potent tool that transforms your Excel data into insightful visualizations. You can create visualizations that make complex market research results look like art.

Why not give it a try?