Types of Marketing and Market research

There are various types of marketing and market research which can be used by the company to find solutions for the problems facing the brand. Marketing research can be categorized by target market (consumer marketing research and B2B marketing research) or methodological approach (quantitative marketing research and qualitative marketing research).

Consumer Marketing Research

In terms of the target market, it is appropriate for a company choose consumer marketing research. This type of research helps the company to understand the preferences, behaviours, interests and attitudes of consumers. This category of marketing research also entails the understanding of effects and success of marketing activities.

B2B Marketing Research

B2B marketing research is a type of marketing in which the researcher attempts to find out the behavior of their B2B customers by surveying a small group of business customers that represent their target customers. The company conducts research on current, former or potential customers using data collection and analysis processes.

Qualitative Marketing Research

Qualitative marketing research is an open-ended approach in which marketers collect information from participants to get their views about a certain phenomenon. Some qualitative market research approaches include: focus groups, in-depth interviews, and other innovative research methods.

The purpose of qualitative marketing research is to understand the consumer behavior. Researchers can observe consumers in their natural environments or ask them questions through open-ended surveys to collect information about their preferences and buying patterns. The importance of the qualitative marketing approach is that it helps marketing researchers to obtain a clear perspective of customers in their natural environments.

Quantitative Marketing Research

Quantitative marketing research is an important methodology because it infers conclusions from the research, which are necessary for solving the problems that affect the organization. The quantitative marketing research entails testing a specific hypothesis using a random sampling technique in which involves choosing members of the population of customers to represent the sample to be tested (Jobber, 2010). The sample of employees can be offered a questionnaire to fill. The results of the questionnaire will then be analyzed using covariance analysis in order to test the hypothesis of the market research.

Apart from the primary sources of data, the marketing research should also involve the use of secondary sources of data. This involves search of quantitative information about the food industry and consumer trends and demand. This will lead to the identification of areas where the company’s product development can be improved.

Secondary data can be obtained in form of demographics and statistics in the internet and libraries. Other important sources of such data include: commercial organizations, government and non-governmental agencies, international organizations such as IMF and World bank and factbook, etc. The data obtained from the secondary sources are recorded appropriately and can then be used to explain and interpret the results from primary research.

Marketing Research Challenges and Solutions

There are various problems related to both the marketing research methodology used. Collecting data from customers, manufacturers and other respondents may be hindered by various obstacles including language barrier, illiteracy and lack of access to technology. In order to deal with these marketing research challenges, it is necessary to develop market intelligence through information.

Marketing research is a source of such marketing intelligence than can be used to develop appropriate recommendations and strategies that can be used to solve the problems of brand failure. Intelligence can be offered by the marketing team through communication of the marketing research in an appropriate manner.

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