The process by which a company obtains data on its target market and ideal client in order to inform its go-to-market strategy is known as marketing research. Data collection for this study may come from consumers in your target market, past or present clients, or even advertising campaigns run by rival businesses.
Make your marketing research more efficient by using Consumer Insights.
You may be already taking action in this direction, but you’re unsure of how effective you are. You’ve come to the right place whether you’re searching for a definition of market research or want to know “what market research is used for” or “why marketing research is important.”
Research Types for Marketing
Marketing research comes in a variety of forms. Each is made to meet a particular purpose. It is split roughly into two categories:
Qualitative Studies
The main goal of qualitative research is to investigate and comprehend the “why” and “how” of consumer behaviour. It entails obtaining non-numerical data, frequently using techniques like content analysis, focus groups, and in-depth interviews. Qualitative research types include descriptive, exploratory, and attitudinal research.
Focus groups: A moderator leads conversations in small groups to elicit viewpoints, attitudes, and views.
In-Depth Interviews: Individual discussions for a thorough examination of each person’s viewpoints and driving forces.
Material analysis is the systematic process of identifying themes and trends in text, media, or internet material.
Ethnographic Research: Gaining a profound understanding of consumer behaviour through immersion in the natural world.
Projective Techniques: Non-direct approaches, such as word association exercises, to reveal subconscious ideas.
Research using Quantitative Methods
Comparatively, statistical analysis and numerical data are the focus of quantitative research. It seeks to offer quantifiable insights into the preferences and behaviour of consumers. Examples of quantitative research include surveys with closed-ended questions, longitudinal studies, cross-sectional studies, and causal studies.
Surveys: Using structured surveys, a large number of respondents provide data that may be analyzed statistically to understand better the attitudes, preferences, and behaviours of consumers.
Experiments: To determine cause-and-effect linkages, researchers modify variables in controlled environments.
Observational research is the systematic study of behaviour and interactions in controlled or natural environments.
Cross-Sectional Studies: To compare several population segments or segments, data from a sample is gathered all at once.
Studies using a longitudinal design: information is gathered from the same sample throughout time to monitor trends and changes.
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