In marketing terminology, the phrase “market survey” usually refers to which activity?

Introduction / Context:
Marketers regularly use the term market survey when they talk about understanding customer needs, testing ideas and assessing demand. A market survey is one of the basic tools of market research, and it is commonly mentioned in job descriptions and interview questions. Knowing what a market survey means helps clarify the role of data collection in marketing decisions.

Given Data / Assumptions:

• Companies need information about target customers, their preferences, buying behaviour and pain points.
• They also need to know about competitors, pricing levels and overall market potential.
• Market surveys are conducted using structured questionnaires, interviews or online forms.
• The purpose is to gather data that can be analysed and used in planning and strategy.

Concept / Approach:
A market survey is a form of primary market research where organisations directly ask respondents questions about their needs, opinions and behaviours. It can be done face to face, by phone, by email, through online survey tools or by intercepting customers at points of sale. Survey results help businesses decide which products to develop, how to position them, what prices to set and which segments to target. Market surveys complement secondary research, such as studying reports or published statistics, by providing fresh information tailored to specific questions.

Step-by-Step Solution:
Step 1: Clarify that the term market survey is usually used in the context of data collection about the market. Step 2: Recognise that this involves structured questionnaires or interview guides, not just informal conversations. Step 3: Identify key topics in a market survey, such as customer demographics, product usage, satisfaction, purchase frequency and brand awareness. Step 4: Note that survey data is later analysed using statistical or qualitative methods to draw conclusions about the market. Step 5: Conclude that market survey is best described as market research activity aimed at collecting information about customers, competitors and conditions.

Verification / Alternative check:
A company planning to launch a new energy drink may design a market survey to ask potential customers about their current beverage choices, desired flavours, price sensitivity and interest in energy drinks. It may distribute questionnaires in gyms and colleges or run an online survey. Responses are collected, tabulated and analysed to estimate demand and shape product features. This is clearly a market survey in the marketing sense, and it perfectly aligns with option A, which highlights market research and data collection.

Why Other Options Are Wrong:
Option B refers to market planning, which uses information gathered from surveys but is not itself the survey. Option C emphasises strategy without data collection, which goes against the concept of a survey. Option D relates to financial market monitoring, not consumer or product markets. Option E describes warehouse inspection, which is an operations task, not a market survey. Only option A accurately describes market survey as a market research activity focused on gathering information.

Common Pitfalls:
A frequent mistake is to think that talking informally to a few customers is equivalent to a structured market survey. While informal feedback can be useful, a market survey is usually more systematic and carefully designed. Another pitfall is to over-rely on small, biased samples. In interviews, emphasise that a good market survey has a clear objective, well-crafted questions, an appropriate sample and a plan for analysing the data. This level of understanding shows you see the survey as a professional tool for evidence-based marketing decisions.

Final Answer:
Market survey means conducting market research to collect information about customers, competitors and market conditions.