Market research can be done on the basis of qualitative or qualitative. For each, the cost of market research depends on the type of research, country, type of tools used and other factors. In this blog, we will discuss the types of market research and the cost of each. 

What is Market Research? 

Market research is the process of collecting and analysing and interpreting and interpreting information about a market. It involves qualitative and quantitative investigation based on goals of research and their target sample size. It helps organisations answer questions such as: Who are my customers? What do they want? How many of them are there? What is the competition doing?
Effective market research enables businesses to make informed decisions about product development, pricing, marketing, distribution and growth strategy.

Within market research we typically talk about two broad dimensions: qualitative vs quantitative research, and primary vs secondary research. Let’s unpack each of these and then explore how much the research tends to cost (and why) 

What is Primary Research vs Secondary research

Primary research meaning: 

Primary research is new data collected directly for your specific research questions. It is tailored to your brand, your market, your customers. Primary research includes both qualitative or quantitative depending on the research goal. You define the methodology, recruit respondents, collect data, process it and analyse it. Since it is bespoke, it is more expensive and more time-consuming.

Secondary research meaning:

Secondary research (also called “desk research”) uses existing data collected by others: industry reports, academic studies, government statistics, syndicated data, internal company data, published articles etc. It is less expensive, faster, broader in scale, but usually less tailored and sometimes less fresh. 

This simple matrix summarises the combinations:

Qualitative Research vs Quantitative Research

What is qualitative research? 

Qualitative research has an open-ended approach that explores motivations, attitudes, opinions and behaviours of people without a rigid interview/survey process. It digs into the why and how behind what people do. Examples: focus groups, in-depth interviews (IDIs), ethnographic / observational studies, diaries or online communities. 

Qualitative methods are exploratory and usually rely on smaller sample sizes. Due to the detailed and genuine discussions, they tend to cost more per participant or per session. It is curated, conducted and moderated by senior researchers

What is qualitative research?

Quantitative research has a closed-ended approach that measures and quantifies behaviour, attitudes or opinions across larger samples. It can allow statistical generalisation. Common methods include large-scale surveys (online, telephone, face-to-face), structured questionnaires, polls etc. Quantitative research gives you numbers such as percentages, averages, correlations over a verbal narrative.

Cost of Conducting Market Research

Now that we know what market research is, the next big question is: how much does it cost? It depends on multiple factors that drive cost: methodology, sample size, audience difficulty, geography, analysis depth, incentives, tools/platforms, and whether you’re working in a regulated industry or a general consumer market.

1. Cost of secondary research

So if you’re buying a syndicated report, analysing industry publications and public data, you might spend anywhere from a few hundred to a few thousand US dollars or equivalent, depending on region, depth and customisation.

Secondary research uses existing data, it is usually the least expensive type of research.

• For an annual member-type subscription or access to pay-walled data, some companies spend 25 % of their total research budget on secondary research. For example, for a company with a $120,000 annual market-research budget, about $30,000 or even lesser would go to secondary research.
  
• For individual reports: A full-market report (detailed) might cost between US$3,500 to US$5,000. For more basic industry reports, the cost might be US$100 to US$1,000.
  
• In Malaysia, for example, secondary research via a service reportedly ranges from RM 4,000 to RM 20,000 depending on depth and relevance.
  

2. Cost of primary qualitative research

Primary research (mainly involving qualitative research methods) cost more per respondent/session because it involves moderators, discussions, sometimes physical venues, higher incentives, transcription, and deeper analysis.
Here are some benchmarks:

• For IDIs (in-depth interviews) typical cost: in the U.S./Europe US$800-$1,500 per respondent, and in India US$120-$250 per respondent. For focus group discussions: U.S./Europe ~US$4,000-$10,000 per session; India ~US$1,200-$2,500 per session.
  
• In-Depth Interviews (10–15 interviews) cost US$5,000-$15,000 (consumer); for tougher audiences, even more.
  
• For focus groups, some older data speak of US$2,500-$3,000 per group in smaller markets, though those numbers may be dated.
  

Let’s give some example cost ranges, simplified:

• Conducting say 10 in-depth interviews of typical consumers in India: ranges include US $1,200-$2,500 total (or even less if local)
  
• Conducting similar consumer IDIs in U.S./Western Europe: ranges include US $10,000-$20,000 depending on incentives, venue etc.
  
• Conducting a focus group in India: US$1,200-$2,500 per session; in U.S./Europe maybe US $6,000-$10,000 per session.
  
• For very specialised qualitative (e.g., ethnography, or executive B2B interviews): costs can go much higher (US$40,000+ for 10–15 interviews) for niche audiences.
  

3. Cost of primary quantitative research

Quantitative research such as online surveys, cost less per respondent. Since you often need much larger sample sizes and more rigorous analysis, the total cost can still be substantial. Factors like geography, target audience (hard to reach), and mode (online vs telephone vs face-to-face) significantly affect cost.

Benchmarks:

• Online surveys: US$5,000-US$15,000+ for ~400 completes in a single market. Phone surveys: US$15,000-US$30,000+ for ~400 completes. In-person surveys: US$20,000-US$50,000+ for ~400 completes.
  
• In 2025, typical custom quantitative or qualitative projects cost about US$25,000-US$65,000.
  
• For international or multi-market quantitative studies, costs can go much higher (US$150,000+).
  

Example simplified cost ranges:

• Conducting an online survey (consumer market, general audience) in India or another cost-efficient country: maybe US$5,000-US$10,000 (though local rates may be even lower)
  
• Conducting an online survey in a mature market (U.S./Western Europe) with 400-1000 completes: US$10,000-US$30,000 depending on complexity
  
• Conducting a telephone or face-to‐face quantitative in multiple markets or with hard-to-reach respondents (senior professionals, niche business decision-makers): US$30,000-US$100,000+
  

4. Cost of combined hybrid research (qual + quant)

Many organisations combine qualitative + quantitative (e.g., start with qual to explore, then quant to validate) or mix primary + secondary. These hybrid approaches naturally increase cost because you’re doing more work, often across methods or markets. 

Multi-market custom programs across several countries can run US$150,000-US$500,000+.

Merren CX can conduct hybrid types of research with Maya AI and omnichannel survey tools. Create conversational surveys with Maya AI and messenger based surveys on WhatsApp and Facebook messenger directly on Merren.  

Cost variation by country/region

As hinted above, the cost of conducting research varies significantly depending on the country/region. Some of the variation is due to: local incentive levels, moderator/facilitator costs, facility rentals, translation and localisation, logistics, panel availability, regulatory complexity, and the difficulty of recruiting respondents.

Examples:

• In India: For qualitative research (IDIs) typical per respondent cost US$120-US$250; focus group session US$1,200-US$2,500.
  
• In U.S./Western Europe: For IDIs US$800-US$1,500 per respondent; focus group US$4,000-US$10,000 per session.
  
• In Malaysia: Secondary research ranges RM4,000-RM20,000 for relevant depth.
  
• For international B2B research (multi-market Europe etc): Basic single-market budget ~€10,000-€15,000; multi-market 3 countries ~€25,000-€45,000 or more.
  

What Drives the Cost of Market Research?

The cost of market research is driven by region, methodology and campaigns planned for a specific goal. 

Key cost drivers:

• Methodology: In-person, face-to-face, ethnography costs more than online surveys. Focus groups cost more than simple surveys.
  
• Sample size & respondent type: Larger sample = higher cost. Hard-to-reach respondents (senior executives, niche B2B decision-makers) cost much more.
  
• Geography / market coverage: Multi-country, multilingual, remote geographies = more cost for recruitment, translation, logistics.
  
• Incentives & engagement: To attract and keep good respondents you may need higher incentives (especially for B2B or “professional” audiences).
  
• Data collection mode & technology: Online is typically cheaper; telephone, mail, face-to-face higher; ethnographic/observational is the highest.
  
• Analysis, reporting & deliverables: If you require deep statistical modelling, segmentation, dashboards, executive workshops or real-time dashboards, cost increases.
  
• Speed and complexity: If you require rush turnaround, custom segmentation, niche audiences, or greater depth, expect cost premium.
  

How much should you budget?

Putting all this together, here are some practical budgeting guidelines:

• If you’re a small business doing basic desk research (secondary only) and perhaps a small survey: maybe US$1,000-$5,000 (or local equivalent)
  
• If you are doing primary research but in one country, with a modest sample size, perhaps an online consumer survey: budget US$5,000-$15,000
  
• If you are doing qualitative work (IDIs/focus groups) in one market: tentatively US$10,000-$25,000 (depending on number of sessions, audience)
  
• If you are doing a combination (qual + quant), across multiple countries, or targeting niche professional audiences: budget US$25,000-$100,000+
  
• For large, multi-country, multi-method strategic studies (brand tracking, marketing mix modelling, global consumer landscape), budgets of US$150,000-$500,000+ are common.
  

What about markets like India?

In India, the cost will be dynamic due to a substantial gap between urban and rural populations:

• As noted, qualitative IDIs in India can cost US$120-US$250 per respondent in many cases.
  
• Focus group session in India: ~US$1,200-US$2,500 per session (6-8 participants) for a mid-range, one-location study.
  
• Online surveys in India, especially for general consumer audiences, will be significantly cheaper than many western markets. However, cost still depends heavily on how targeted the audience is, the sample size, and any incentives.
  
• For secondary research in local/regional context, the costs may range in the tens of thousands of INR (or equivalent USD < 5-10k) depending on depth. The Malaysia example shows localised lower-cost figures.
  

If you were doing market research in India for a B2C brand (consumer audience) with modest sample size and using online mode, you might be able to do a decent quantitative market study in a range perhaps US$3,000-US$10,000 (or equivalent INR) depending on specifics. For more niche audiences or multi-city, multi-language Indian market research, you’d adjust upwards.

Tools for Market Research 

• For quantitative research you can use self-serve survey platforms like Merren CX, Zonka Feedback or SurveySensum.
  
• Maya AI by Merren supports qualitative research that interviews people in a conversational format. Learn more about Maya AI here. AI based qualitative research is up to 80% lower than traditional methods.
  
• For secondary research: many trade reports, syndicated data providers, government data portals can offer valuable inputs at relatively low cost for initial market sizing or landscape overview.

Best Practices Before Conducting Market Research

If you are planning to commission market research for domestic market or international expansion, here’s how you can think about it:

1. Start with clear objectives: are you looking at exploratory (“why are customers behaving like this?”) or confirmatory research (“what percentage of customers prefer feature X?”)? The objective drives methodology, which drives cost.
   
2. Decide methodology early: If you need rich insight, consider qualitative; if you need numbers and scale, quantitative; often a mix. Also decide whether you’ll do secondary first to inform primary.
   
3. Define sample / audience / geography: The more niche your audience (senior executives vs general consumers), the higher the cost. Multi-city or multi-country adds logistics, translation, cost.
   
4. Set budget ranges and negotiate: Use benchmarks to set realistic budgets. For an Indian market study with a standard sample of general consumers, you might budget in the low thousands USD (or equivalent INR). For multi-market, niche audience studies, Prepare higher budgets (tens of thousands USD).
   
5. Choose your vendor/model: Will you use a full-service research agency (higher cost, more hands-on) or self-service plus internal analytics (lower cost but requires internal capacity)?
   
6. Consider tools and innovation: Online tools, chat/ native WhatsApp survey based, remote focus groups can reduce cost. But make sure respondent quality and methodologies remain robust.
   
7. Budget for analysis & insights: Often the fieldwork cost is only part of the total budget. The value comes from high-quality analysis and actionable insights. Skimping here can reduce ROI.
   
8. Be aware of hidden costs and trade-offs: Rushed timeline, very niche or hard-to-find respondents, complex analysis (segmentation, modelling), multi-market logistics raise cost significantly.
   
9. Consider return on investment: A modest investment in good research often saves far more in wasted product launches, mis-targeted marketing or wrong strategic direction. As one source put it, compare the cost of research versus the cost of missed opportunity.

Conclusion

Market research needs careful consideration across industries and departments. Whether you are launching a new product, entering a new market, or wanting to understand your customers better, investing in the right research is crucial. The key is matching your research methods, sample and geography to your budget and objectives.