Did you know companies who utilize marketing research are 73% more successful? That’s a big deal! Every kind of business uses marketing research to make well-informed decisions. It does not matter if they are large or small. It’s like having a map before embarking on a journey. In this article, we will explain what are the kinds of marketing research. These are exploratory, descriptive, causal, qualitative, and quantitative. Let’s get started and discover how you can level up your marketing!
Exploratory Research
You have become a detective, though, doing exploratory research. To help you grasp a problem or concept. You have it when you don’t know much about something. Perhaps a company wants to release a new product. They can use this to crudely sense the market better.
Literature Review
Doing your homework: A literature review You read what others have said on a subject. Books, reports or even websites could be trained on this data. It creates for you what is already known. It can also highlight gaps in the dataset. This is one simple way to do just that:
- Search journals and online databases for sources.
- 10 sentences to read and take notes: Discover what others have discovered.
- Synthesize: Connect the dots in your own words.
Focus Groups
Picture, if you will, a group of people gathered to discuss a product. That’s a focus group! It’s great for getting ideas. You go, and you ask questions, and you hear what they say. Six to 10 people is generally a good size. A team of moderators guides the conversation. They make certain that everyone gets a voice. You should always run and collect because this can get some of the better type information that you can make use of.
Expert Interviews
Want to learn from the best? Talk to an expert! Seek someone well versed in the subject matter Ask them questions about the market. Come prepared with questions in advance. Pay attention when they answer you. This helps, gives you a lot of insights.
Descriptive Research
Descriptive research is a snapshot of your market. It deals with telling what has been happening. It helps you to be aware of who your customers are and what they ask for. It’s all about the details.
Surveys
Others use surveys to collect data. You’re able to do them online or by phone. You can even do it in person. The secret is asking good questions. Keep them simple, straightforward and easy. This may help you know what people think.
Observational Studies
Do ever watch people to see what they do? That’s an observational study. It may have a qualitative or quantitative nature. Qualitative measures behavioral units. Quantitative counts things. It is useful, but it could be biased if people know they are being monitored.
Panel Data
Individual-level data follows the same people over time. You can see how things are changing. This gives you the understanding of trends. You can see what is causing those changes. The collection and analysis of that data takes time. But it can provide you a great insight.
Causal Research
Causal research aims to identify causal relationships between variables. Does one thing cause another? This is the type of research that attempts to answer that question. Health: Controlled experiments are very important here.
Experiments
One way to test is through experiments. This can be A/B testing or any other popular kind. You present one group a particular version of something. Then you give another group a different one. See which one works better. Control groups allow you to see the effect of changes.
Test Markets
Looking to test a new product? Do it in a test market! Pick a small area. Launch your product there. See how people react. This can prevent you from making big mistakes down the line.
Regression Analysis
Regression analysis shows you how things are related. It demonstrates how/as one thing impacts another. It employs math to locate patterns. This can help you plan wisely.
Qualitative Research
Qualitative research builds an understanding of feelings. It helps make sense of why people do what they do. It’s about studying motivations and behaviors.
Ethnographic Research
Being in the customer’s world — ethnographic research You observe them out in the wild. You see what products they use. It offers you a virtual glimpse at things around in real life.
In-Depth Interviews
In-depth interviews are meetings with one based with another. You ask questions and help people open up. Here are 一 probing techniques that help you dig deeper. This can bring forth repressed emotions.
Projective Techniques
Projective techniques make people talk without knowing it. Examples include word association and sentence completion. These can show what people really feel.
Quantitative Research
Quantitative research is data driven — numbers, stats. It is about measuring stuff. This enables you to identify correlations and anticipate outcomes.
Surveys (With a Quantitative Twist)
Surveys provide you with plenty of data. Stats can be used to examine it. Average stats on Descriptive Its. You are skilled about prediction with inferential stats.
Experiments (Revised with a Focus on Quantitative Measures)
Experiments give you data too. T-tests and ANOVA can tell whether a real difference exists. This portion makes your findings credible.
Database Marketing
Customer data is tons of data and is maintained by databases. It can help you look for patterns. Customer segmentation allows you to provide special offers for groups.
Conclusion
We have done a lot of things in the above article! You will have learned about exploratory, descriptive, causal, qualitative and quantitative research. The trick for a premium experience is choosing the right kind for you. Use these techniques to better your marketing and get more success. So, what are you waiting for? Get started now, and let your marketing take flight!
