There are many diverse categories of marketing research, and each of these categories can be used by businesses in different ways to extract better ideas for their proposed products or services. The usage of these different types of market research totally types depends on the research objective for the organization. Let’s discuss the Diverse Categories Of Marketing Research.
Categories Of Marketing Research
1. Secondary Market Research
This is the first type of marketing research and is the most common choice for most of the business organisation. Secondary Marketing research involves the collection and analysis of data to derive conclusions. Secondary market research is done before conducting primary research; this helps business to save money and also to achieve their research objectives faster. However, if the business does not draw proper conclusions from secondary research they conduct primary research.
2. Primary Market Research
When a business fails to obtain the required data from secondary market research, they try to opt for primary market research. The process of primary research is laborious as the researches need to collect original data from the market. If the business is successful in implementing the primary research they would be able to draw out unique insights of the market conditions. There are numerous types of marketing research falling within the primary research category, check them out below
A.Quantitative market research
Primary research which deals with collection of loads of data is known as quantitative market research. The 5 major types of quantitative marketing research are –
- Survey research – The survey marketing research is the most common type, this is conducted with the help of questionnaires.
- Observational research – This research involves directly questioning the target audience. The survey involves observing the behaviour of the customer while they are purchasing a product.
- Experimental research – This type of research observes the cause and affects the relationship.
- Focus group research – Focus group research involves a group of people who are provided with a topic to discuss, their discussions are observed to get their point of view on the focused topic.
- Ethnographic research –The ethnographic research focuses on the micro niche audiences to find out what can be done to make them comfortable to the brand and also to make them buy more of their products or services.
B Qualitative market research
Qualitative market research is associated more with branding, positioning and other similar qualitative features of the business where the business would need feedback from their existing or new customers. Word associations, visualizations, projective techniques are some of the common forms of qualitative market research.
The above were the Diverse Categories Of Marketing Research, Business can choose any type of market research depending on their market research objective. Analysis of data obtained from all these market research types is immensely important; as if you go wrong here, you might have to pay the cost later. Contact iSN Global Solutions for our Market Research Services. We have expert professionals who can give you a clear picture of the market and the opportunities you can bank on. We assure the data and statistics are taken from verified sources at ISN.
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