market & marketing research

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market & marketing research

who can use it

All enterprises, including commercial ones (companies, restaurants, cinema, fashion stores and etc)

when we can use it

when there is an opportunity for research and a problem in the market.

similarities

A tool to inform decisions about the type of products or services to offer. Types of online market research take the form of a project. Seek to provide answers to organizational questions. Used to uncover optimal markets or geographical locations to enter. Gather information using qualitative and quantitative research methods.

differences

Market research is the study of customers and the market, whereas marketing research is the study of all aspects of marketing. Market research investigates the market success of a product or service, whereas marketing research collects data for marketing intelligence activities and decision-making. The scope of market research is limited as it studies about the aspects of market and consumer behavior only. On the other hand, marketing research involves the study of the whole marketing process, i.e. the research of advertising, pricing, packaging, policymaking and the market as well.

marketing research

Analyzes at the micro level. Concerned with marketing process, including pricing, positioning, promotions, and product. Useful when you already have a product or service, and you need to become more efficient or effective. Focuses on tactics, often generic to a market and others within that market. Dependant on the interpretation of a challenge.

market research

Analyzes the macro environment. Concerned with the whole marketplace, including consumers, prospects, trends, etc. Useful when trying to enter a new market, launch a new product, start a new business, or investigate acquisition or investment. Focuses on strategy, and is very specific depending on the scope of the research. Dependant on market statistics.

definition

Marketing research is a much broader and wider-ranging process, which involves the analysis of every single aspect of the marketing sequence. Marketing research involves discovering consumer reaction to many areas of the marketing process. Thus, it might include market research, product development and testing, pricing, promotional aspects, distribution and selling theory and the evaluation of competition.

Market research is the process of discovering relevant primary and secondary information about the demand for a product or service in a specific market.

examples

market research

Just after World War II Ford designers had developed what they believed would be the best automobile that had ever produced, the Ford Edsel named after Henry Ford’s son. Unfortunately they never consulted with the potential customers and whilst the vehicle might have been technologically advanced, it did not meet the needs of the customer and very few were sold. Similar charges can be perhaps leveled against the suppliers of WAP mobile telephones. Whilst the suppliers were convinced that this was technology that the market wanted, sales were very slow indeed, suggesting that not enough research had been carried out. Asking the customers what they actually want can save a lot of organizational heartache.

merketing research

Mobile Operator Services: Exploring New Business Opportunities. Summing up the results of marketing research into the depths of the small and medium-sized corporate segment: markets and small shops, hairdressers and transport companies, beauty salons, private dental clinics and street catering, we are forced to admit that a small and medium-sized corporate client, although generally satisfied services of mobile operators, remains not too favored by their attention. So far, operators are still far from offering entrepreneurs the tools that would help solve the primary tasks of small businesses: gain a critical mass of customers, expand the sales market, and receive additional revenue.