What determines the cost of a market analysis?
The cost of a market analysis varies greatly depending on the objective, scope, method, and data source.
A simple secondary research study can cost a few hundred euros, while a comprehensive primary study can quickly run into tens of thousands of euros.
The most important cost factors at a glance:
1st factor: Type of analysis
- One-time analysis (e.g., market potential)
- Continuous market observation (e.g., regular surveys)
2nd factor: Scope of data
- Regional or international
- Depth of target group analysis
3rd factor: Choice of method
- Secondary research (desk research): less expensive
- Primary research (e.g., with online surveys): more complex, but more specific
4th factor: Data sources
- Public data: usually free of charge
- External study providers: subject to a fee
5th factor: In-house vs. outsourcing
- In-house implementation saves costs but requires expertise
- External institutes often provide more in-depth analyses
Using easyfeedback – Create efficient online surveys yourself
A practical example of how to reduce costs in market analysis is the use of easyfeedback, a professional online survey tool for companies.
Instead of hiring expensive market research institutes, companies can use easyfeedback to collect valid data themselves – easily, quickly, and in compliance with GDPR.
Advantages of easyfeedback in the context of market analysis:
- Cost-effective: Can be used even with small budgets – no expensive institute required.
- User-friendly: Intuitive interface, no programming knowledge required.
- Flexible use: Target group surveys, product feedback, customer analyses.
- Professional evaluation: Live results, filter functions, export options.
- Data protection compliant: Hosting in Germany, GDPR-compliant implementation
Example: A start-up is planning to launch a new product.
Using easyfeedback, it creates an online survey within a few hours, distributes it via social media and newsletters – and receives valuable feedback on willingness to pay, brand perception, and product demand within days.
Cost examples with and without tools
| Type of analysis | Estimated costs |
|---|---|
| Internal secondary analysis | € 0 – 1,000 |
| External market study | € 2,000 – 10,000+ |
| Online survey with easyfeedback | From approx. € 29 per month (depending on plan) |
| Focus groups via agencies | € 5,000 – 20,000 |
Conclusion
Market analysis does incur costs, but the benefits usually far outweigh the financial outlay.
Tools such as easyfeedback help small and medium-sized enterprises in particular to collect valid data cost-effectively and independently in order to make strategically sound decisions.
Those who conduct their market analysis using modern, digital tools not only save time and money, but also gain a clear competitive advantage through proximity to their customers.
More about market analysis
- Step-by-step guide to market analysis
- Methods and instruments of market analysis
- 7 steps for creating and performing a market analysis
- Everything you need to know about a market analysis!
- Target group identification in the context of market analysis
- Market Analysis vs. Market Observation – What is the difference?
