Business & Finance Tips

Marketing research is a type of sociology that has a focus on understanding the behaviors and preferences of consumers in an open economy. The goal is to interpret the effects and success (comparatively) of marketing strategies.

There are many types of marketing research including:

Questioning

There are different ways that marketing research can be done. One method is called Qualitative marketing research and it involves focus groups, in-depth interviews, and projective techniques. Quantitative marketing research, however, involves sampling, surveys, and questionnaires. Both of these forms of marketing deal with questions and interaction with your subject.

Observation

The other forms of research deal with observation of the subject rather than feedback from the subject. Ethnographic research involves watching social phenomenon occur in the social environment. A great example of this would be computer cookies or product use tests. Experimental techniques make up the last category and account for research done in a controlled environment to try to replicate the type of environment faced by the prospect.

Test Market

One of the most widely accepted forms of research is the “test market”. A population that seems to be a smaller scale version of the actual demographic will be asked to use and evaluate a product before it’s official launch. The feedback given could possibly redirect the original plan for the product to make it better for the end customer. It is better to discover any issues in the test market rather than after the final release.

If you plan to carry out your own marketing research be prepared to be completely honest with yourself. If you sugar coat your findings you will not be doing yourself any favors. Marketing research can be one of your most valuable tools.