Marketing Research is a systematic process conducted by companies and organizations to collect and analyze information about customer needs, market trends, competition, and the overall marketing environment. Marketing research is necessary for companies to improve their products and services, increase customer satisfaction, formulate market strategies and make better decisions.
Main objectives of marketing research:
- Understanding customer needs. Understanding customer requirements, desires and behavior.
- Monitoring market trends: analyzing new market trends and changes, helping companies develop appropriate strategies.
- Conduct a competitive analysis. By analyzing the position and activities of competitors in the market, build a stronger market strategy.
- Risk Assessment: Assess potential risks by studying demand for new products or services.
- Marketing decision support: making informed decisions to formulate marketing strategy and tactics.
Types of marketing research
Marketing research can be carried out with different approaches and objectives. There are mainly two types of research:
Types of marketing research
Marketing research can be carried out with different approaches and objectives. There are mainly two types of research:
- Primary research
Primary research is the process of collecting data directly from customers, the market, and other sources. These data were obtained reliably and specifically for the purposes of the study.
Basic research methods:
- Questionnaires and surveys: Questionnaires and surveys are prepared to collect information from customers. These requests may be in physical or electronic format.
- Focus groups: Small groups are organized and discussed with them to obtain more detailed information from clients or consumers.
- Interviews: Personal interviews are conducted with clients for in-depth communication to gain their opinions and experiences.
- Experiments (Experiments): A company can measure market response by applying certain marketing strategies.