Types of Marketing Research

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Manual of Marketing Research

Task 1                                                        Unit 10

Market Research - The process of gathering, analysing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face.

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Primary Research – collecting data which has been not yet processed. This research contains original information and it is completed for the first time.

There are several methods of primary research including: observational, experimental, surveys, e-marketing research, piloting research, field trials, focus groups and panels.

Observational: data is collected by observing actions, services or customers. This kind of data has not been yet processed but once completed, it will be processed and analysed. It is a good idea to carry out this type of research if the product is changing or has to be developed - the business is able to identify how the customers are interacting with products or services.

Experimental: introducing a new strategy and recording a result of this action. This will probably involve a change in the marketing mix. The result of experimental research has to be monitored so the managers have a full control over the situation. This kind of primary research will help to plan future strategy of the business.

Surveys: can be completed by face-to-face, post, e-mail and telephone. Surveys are used to gain information about individuals, usually customers or potential customers. This kind of primary research will indicate customers’ point of view and will help to decide what products should be introduced to the market.  

E-marketing research: using the internet to promote products/services or to get feedback of the customers. It has to be carried out effectively in order to make research successful.

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Piloting Research: more complex survey taken by customers, which will indicate their needs and expectations. Also, it will determine the attitude of customers for a certain product. A business may decide to make some changes to products/services upon the results of this research.

Field Trials: introducing a new product to see how the customer response to it. Field trials will be held in selected stores and it will help the business to make possible improvements upon the customer’s feedback. A business may decide to adjust prices or change packaging and also it will allow customer to test new products.

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