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Market Research Definition, Types, Tools and Benefits

Published on Jul 01, 2022

More than doubling in size from 2008 to 2021, the market research sector brought in over $76.4 (Statista) billion worldwide in 2021.  

What is Market Research?

Market research is the process of gathering, analyzing, and interpreting information about a market, about the product or service to be offered for sale in that market. It is also about the previous, current, and potential customers for the product or service. 

Data collection, analysis, and interpretation are the three main steps in any successful market research project. The data could pertain to a certain demographic, general consumers, rival businesses, or the entire market. This is the cornerstone of any thriving business. The findings can be used for anything from discovering a fresh opportunity to entering the market to developing an entirely new product or service. 

Small business owners can benefit greatly from conducting market research. It can eliminate uncertainty in the creative process and direct energy and funding toward the most promising ideas and initiatives. Many types of market research are conducted by businesses at many different stages. 

Market Research for Businesses  

Accurate and comprehensive data gives a plethora of information on potential and existing customers, competitors, and the industry as a whole, making it the bedrock of any successful commercial endeavor. It helps entrepreneurs weigh the odds of success before sinking a lot of money into a new firm. 

An essential aspect of every successful business plan is conducting market research to gather data that can be used to address potential marketing obstacles. In reality, it is not viable to develop tactics like market segmentation (identifying distinct groups within a market) and product differentiation (establishing a unique selling proposition for a product or service that distinguishes it from the competition) without conducting market research. 

Types of Market Research  

1. quantitative research .

The results of quantitative studies are typically presented using numerical and graphic representations. It's the gold standard for verifying or disproving hypotheses. It is possible to establish broad, overarching truths about a subject by conducting this kind of study. Experiments, numerically recorded observations, and surveys with a limited number of predetermined answer choices are all examples of common quantitative approaches. 

2. Qualitative research 

Words are the currency of qualitative inquiry. It's a tool for making sense of things like ideas and experiences. Using this method, you can learn more about a topic from every angle, which is very useful for researching controversial or poorly understood subjects. Open-ended interviews, written descriptions of observations, and in-depth analyses of the existing literature are all examples of common qualitative techniques. 

Qualitative vs. Quantitative Research 

Quantitative research focuses on numerical and statistical facts, while qualitative research examines concepts and interpretations. Both are necessary to learn various things. Comparatively, qualitative research draws its conclusions from interviews and documents rather than statistics and reasoning. Quantitative studies typically report their findings numerically or graphically, while qualitative studies report their findings verbally. 

3. Primary Research 

Primary data refers to a study that seeks to collect firsthand information from real-world participants. Primary research is data collected by the researcher themselves through various techniques of approaching the target audience directly. You have full legal and ethical rights to the data set you to create. Primary research can be challenging due to the time, money, resources, and familiarity with the topic that it demands. 

4. Secondary Research 

Secondary research is a study that is done after primary research has already been conducted, and it consists of analyzing, interpreting, and summarizing the results of the primary research. A more precise definition of secondary research would be any study that makes use of publicly available data. When conducting secondary research, scholars refer to information that has already been gathered, processed, and made public (and therefore, you do not own this data). Since the accessible data has already been evaluated and interpreted, the researcher just needs to determine the data he wants to use, i.e., the data that is necessary for his project. 

Primary Research vs. Secondary Research

Research that involves the collection of new information, or "primary" research, is distinguished from secondary research by the fact that it is conducted for the first time on a particular topic. Instead, secondary research makes use of information that has previously been gathered through primary research. The fundamental dividing line between primary and secondary research is whether the research has been done before. 

5. Market Research 

Market research on branding can help a business develop, launch, and sustain its brand. This may involve the firm's ethos, branding, visuals, ideals, or very name. Interviews, focus groups, and surveys are all viable options for conducting research. 

6. Customer Research 

Market research on customers is learning what factors most strongly affect your demographic of interest and what adjustments may be made to better attract and retain them as paying customers. The objective of this study is to acquire an intimate understanding of your consumer base and their habits and preferences as they relate to your business. 

7. Competitor Research 

Conducting market research on your competitors entails learning about their businesses and assessing how they stack up against your own. Your competitive product in the market or how to break into a new market could also be a topic of discussion. The study's overarching goal is to help your company prepare for the future by identifying methods to set itself apart from competitors and by learning from customers' opinions and suggestions. 

8. Product Research 

Conducting market research on your items is essential to ensuring they will sell successfully once they hit the shelves. Finding out how people feel about your product and if they feel it's valuable and functioning properly is the goal of this study. The ability to think creatively about enhancements and new features is another benefit. 

Benefits of Market Research 

According to a survey, the market research business is expected to increase at a rate of 12-14% (The Economic Times) per year through FY26, at which point it would have surpassed the $4 billion mark. 

The following is a list of the most important reasons and benefits of marketing research: 

It's a great tool for boosting companies' standing. The ability to think critically and act on that thinking is the key to success. You can keep your business one step ahead of the competition by conducting market research to expand your knowledge of your market or target audience. 

Reduces the potential for loss on an investment. This is a basic point to think about, but it is often crucial to the success of a firm. When starting a firm, it makes sense to spend what amounts to a negligible amount on research and testing the market, product, concept, or idea. 

Possible dangers and benefits are highlighted. Insurance against these two glaring pitfalls lies in both primary research (fieldwork) and secondary research (desk research). Opportunities or red flags may be uncovered through the combination of this with qualitative research for further investigation. 

You can learn more about the advantages and disadvantages of your own business and of your competitors. To achieve entirely objective reporting, it is generally recommended to collaborate with a market research agency. Take advantage of what you've learned from study to improve in areas where you're weak and to gain an edge over the competition. 

Strategic preparation is helped by this. Where do you stand with the core principles of your company plan? If it's supported by data, and you've put in the time and effort to do your own (hopefully continuous) research, you can rest assured that you're giving yourself the best chance of success in your commercial endeavors. 

This aids in the identification of developing tendencies. Being the first, the best, or coming up with the idea that nobody else has is typically what it takes to stay ahead in business. Taking the pulse of your industry on a regular basis is an important habit. You can learn more about the tools available to you to identify and capitalize on these trends by consulting with a research firm or expert. 

Helpful for firms in keeping up with the competition. Being the best calls for an insatiable need for knowledge and a propensity to experiment. The key to success, and the ability to maintain that success, is knowing how to effectively apply the information gleaned from market research, audience research, and data research. 

It includes forecasts for future income. One of the most important parts of any market study is a forecast, which looks into the future and predicts the size, makeup, and trends of the market you're interested in. This allows for the categorization of prospective clients. You should prioritize the market that is the best fit for your business rather than the largest or fastest-growing. 

It's geared toward meeting the wants and desires of its patrons. Many things in business, including research, benefit from keeping clients front and center. By reaching out to individuals through online panels, web forums, telephone surveys, in-depth interviews, and focus groups, market researchers can learn where their business's ideas, services, and products can be strengthened. 

Using this method, one can measure the progress of one's company against predetermined standards. Utilize data gathered from the market to study the competition, gauge employee enthusiasm, identify knowledge or skill shortages, and identify development opportunities. This will allow you to consider novel approaches, ideas, and resources for boosting your company's efficiency. 

Market Research Tools 

In order to better understand your market and target audience, you need to use market research techniques. It's fundamental to every company's success, and in today's more crowded marketplace, a thorough familiarity with your target market is more important than ever. Good news: you don't have to be an "insights genius" to get started collecting the data you need, owing to the proliferation of market research tools. Some of the best and most widely used methods of market research include: 

• Answer the Public 
• Attest 
• Google Trends 
• Social Mention 
• Remesh 
• Heartbeat Ai 
• Think With Google 
• Spyfu 
• Latana 
• BuzzSumo 
• Statista 
• Typeform 
• Otter.ai 
• Dimensions.ai 

How to Conduct Research for Your Business: Market Research Strategies 

Despite their different objectives, market research and marketing research should use the same framework for gathering and analyzing information about your company's target audiences. These help in primary research as well as secondary research.  

Clearly identify the problem at stake. Establish an initial research topic. Having a clear research question in mind will allow you to better organize your findings. 

Start by figuring out your financial and time constraints. How much money do you have to put into your study? When do you anticipate finishing data collection? Research, like any other tactic for expanding your company, should be carried out within your means. Nonetheless, it may be worthwhile to spend more money to receive the most comprehensive results available, especially if the questions you are answering are time-sensitive. 

Planning your approach and requirements. Find out what information needs to be gathered and figure out how to get it. Observation, surveys, phone calls, and focus groups are among the alternatives. Consult a professional research agency if you are unsure of how to organize your data collection. 

Pick a way to sample the data. I need to know how you plan on picking people to take part in your study. You may require a cross-section of the consumer population at large, a subset of the population who share a particular characteristic of their way of life, or just the opinions of those who are already familiar with your brand. Develop a plan for tracking down and contacting the persons who will take part in your research. 

Prepare a data analysis strategy. Think about the methods you'll use to examine the data. Do you require numbers for statistical analysis, or can you get a sense of things from qualitative, observable data? Spend some time learning about the many types of analysis so you can pick the one that will yield the most useful results for your study. 

Gathering information. The next step is data collection, which may begin once you have settled on a research question and developed a strategy for answering it within the bounds of your time and money. Research is often outsourced to professional firms or consultants by many corporations. 

Examining the information. It is important to apply certain methods of analysis to make sense of your data, no matter how simple it may appear at first. Which analytical techniques you employ are most suited to your data is a function of the information you've gathered. Also, this is the time to double-check for any mistakes that might have crept into your data gathering, analysis, or sampling. 

Make the report you need. Concluding your research with a written report is the next to last stage. From formulating a problem statement to discussing the findings of your data study, your report should include it all. 

Why is Market Research Important?

Over 44,000 businesses across the United States provide some form of market research. Their total annual income is around $23 billion (QuestionPro).  

The importance of Market Research is the following -  

1. Identifies new products or services

By conducting market research, a business can learn what consumers want and how to best meet their demands. Identifying the major challenges associated with creating a product or service can help you save money. It's useful for figuring out what customers value most and how to implement that into your product or service offering. 

2. Identifies potential customers

You may learn more about your clientele by analyzing demographic information like their gender, age, income, occupation, and interests. You'll have a better idea of who to target with your future advertising efforts if you have a clear picture of your current clientele. When a product is marketed to the wrong demographic, sales suffer. 

3. Establishes viability of a product or service

If your organization is considering introducing a novel product or service to consumers, you should find out if there is a need for it. Do people need this product? Do the people you plan to sell to actually want this product? Does it have any chance of succeeding, and does it even have a chance of being a viable trend? 

4. Anticipates and discovers future market trends 

If you are familiar with your market and the tendencies that are just beginning to emerge, you will be better prepared to build tactics to combat any negative tendencies that may threaten your company. As a result, you can use rising tendencies to your advantage and propel your company forward. 

5. Keeps your company ahead of competitors

Examining your company's performance in relation to that of its rivals is a prime use for comparative research. If they're much ahead of you, it's a fantastic chance to figure out what you're doing wrong. It is possible to devise business plans that will help you surpass the competition. 

6. Decide the best marketing strategy

Conducting research is helpful for pinpointing the optimal distribution platform for reaching your target audience. If you find out that a large portion of your audience prefers one form of communication over another, it makes sense to concentrate your efforts there. Because of the scarcity of these resources, it only makes sense to direct them toward endeavors with a high probability of success. 

7. Reduces risk and increases profitability

The ability to assess the value of potential risks in light of past performance and anticipated future market behavior is a crucial business skill. The success or failure of a business idea depends heavily on the results of market research. Understanding your consumers and their habits is another crucial step in risk reduction. Taking less risk leads to greater financial rewards. 

8. Identifies threats and opportunities

The SWOT analysis is likely familiar to many of you. The acronym SWOT refers to a company's "strengths," "weaknesses," and "All four of them can be figured out with the use of market research . While a lot of data can be collected through market research, not all of it needs to be used. Use only information that is directly related to your major objective (which you will have established in advance). 

9. Helps to understand existing customers

By conducting market research, you can learn more about your current clientele. Because of this complexity, you can't assume that you know what your clients require. If you want to be successful, you need to take the temperature of your clientele on a frequent basis. Satisfaction levels among customers can also be measured with the help of surveys. You can find out what is bothering them and make adjustments if necessary. If they are already rather high, you can examine the factors that led to this success and implement changes to maintain it. 

10. Assists in realistic goal setting

Goals that are more realistic can be established with the support of up-to-the-minute information on your market and customer base. Knowing what to expect and how to realistically expand growth over time is greatly aided by establishing a growth pattern throughout time. Setting objectives that are too lofty will cause you to waste time and energy trying to achieve something that is impossible. 

How Efficient is Market Research? 

You should only invest time, energy, and money into market research if you expect to see a favorable return on that investment. Because it is so worthwhile, market research continues to play a significant role in the success of any organization. Market research won't ensure your company's success on its own, but it will arm you with the data you need to make the moves that will. 

Many of the advantages of this type of study were examined, but the drawbacks were also taken into account. If you don't conduct market research, you run the danger of losing clients to the competition, missing out on growth prospects, being more susceptible to hazards, making bad business decisions, and more. Some companies succeed without first doing their homework, but those situations are unusual. To build your firm and avoid typical errors, conduct market research. 

Market Research Methods  

Although there are a variety of approaches to conducting market research, the majority of companies opt to utilize one of the following five fundamental approaches: surveys, focus groups, personal interviews, observation, and field trials. Which strategies you decide to implement for your company will depend on the kinds of data you require as well as the amount of money you are ready to pay. Some of the major methods of market research are following - 

1. Surveys 

Surveys ask participants questions. They can use numerous survey methods. Surveys are a cost-effective technique to collect data for the study. Written surveys may encourage truthful responses since participants feel like they're speaking privately. 

2. Discussions 

Focus groups are moderated discussions. Companies assemble consumers to conduct focus groups, pose questions, and record replies. Participants' replies may reveal what consumers want in a firm or a product because they represent a broad group. Focus groups offer longer participant interaction than surveys. 

3. Interviews 

An interview combines focus group and one-on-one survey aspects. It includes recording one participant's comments at a time. Open-ended questions elicit in-depth answers from the interviewee. Researchers can ask follow-up questions and let interviewees ask their own. 

4. Social media listening 

Social media users routinely discuss corporations and their products. Researchers can search for discussion topics and measure consumer sentiment through social media listening. 

5. Observations 

Observation in market research means studying how consumers shop. Filming shoppers in a store and studying their shopping habits is common. This strategy can reveal their natural selves if they are ignorant of the observation. 

6. Experiments 

In a field trial, a corporation lets participants use a product under typical conditions and collects data. Participants' feedback was used to improve the product. 

7. Competitive analysis 

Competitive analysis is a secondary market research process where companies acquire and analyze competition information. It entails identifying primary and secondary rivals and analyzing their offerings, revenues, and marketing methods. 

8. Statistics 

Public data entails seeking and evaluating public market data. This research is often free online or in libraries. Research centers, polls, or government databases may provide this information. Public data is often used to confirm or compare primary market research. 

9. Purchased data 

Companies without the time or resources to perform their own market research can buy it. Several market research companies sell database subscriptions. Small and medium-sized businesses that can't afford primary market research may benefit from this approach. 

10. Analysis of sales data 

Competition analysis is just one way that may be used in tandem with sales data analysis to show how different business tactics affect revenue. It can also reveal consumers' buying behavior and consumer trends. 

Functions of Marketing Research  

The following are the main functions of Marketing Research - 

Description: Marketing research details customers. Age, sex, education, income, etc., are listed. It describes the market and competitors. This description helps marketing decision-makers and problem-solvers. 

Evaluation: Marketing research evaluates firm performance. It evaluates production and marketing policies. It measures customer reactions to product quality, price, packaging, advertising, sales, and promotions. If consumers dislike the company's policies, they must alter them. It contrasts company and rival policies. 

Explanation: Marketing research answers all marketing questions. It explains why sales are declining, why retailers are unhappy, etc. It explains the problem's causes. It gives a solution. 

Prediction: Marketing research forecasts. Predictions are future forecasts. It predicts sales, market prospects, dangers, marketing environment, customer behavior, etc. All predictions may be wrong. Predictions help the organization create plans and policies. It helps seize possibilities. It prevents future hazards. 

Decision Making: Marketing research aids decision-makers. It gives decision-making data. Decision-making involves choosing between options. Decision-making requires accurate data. MR helps the marketer decide. It gives decision-making data. It offers alternatives. It compares each option's pros and cons. It helps marketing managers choose the right action. 

Conclusion 

The world's markets are changing at a dizzying rate, making it more important than ever for companies to adapt quickly enough to be competitive. One method is to conduct market research. The results of your market research and analysis will provide you with a thorough understanding of your target audience's wants and needs, as well as your competitors' strengths and weaknesses. 

The key to making your business successful in the face of intense competition is identifying and fixing your deficiencies. The right market research tools will aid you in doing just that! The time to begin expanding your company is now.  

With a presence in New York, San Francisco, Austin, Seattle, Toronto, London, Zurich, Pune, Bengaluru, and Hyderabad, SG Analytics, a pioneer in Research and Analytics, offers tailor-made services to enterprises worldwide.    

A leader in  Market research services , SG Analytics enables organizations to achieve actionable insights into products, technology, customers, competition, and the marketplace to make insight-driven decisions.  Contact us  today if you are an enterprise looking to make critical data-driven decisions to prompt accelerated growth and breakthrough performance.

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How to Do Market Research: The Complete Guide

Learn how to do market research with this step-by-step guide, complete with templates, tools and real-world examples.

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What are your customers’ needs? How does your product compare to the competition? What are the emerging trends and opportunities in your industry? If these questions keep you up at night, it’s time to conduct market research.

Market research plays a pivotal role in your ability to stay competitive and relevant, helping you anticipate shifts in consumer behavior and industry dynamics. It involves gathering these insights using a wide range of techniques, from surveys and interviews to data analysis and observational studies.

In this guide, we’ll explore why market research is crucial, the various types of market research, the methods used in data collection, and how to effectively conduct market research to drive informed decision-making and success.

What is market research?

Market research is the systematic process of gathering, analyzing and interpreting information about a specific market or industry. The purpose of market research is to offer valuable insight into the preferences and behaviors of your target audience, and anticipate shifts in market trends and the competitive landscape. This information helps you make data-driven decisions, develop effective strategies for your business, and maximize your chances of long-term growth.

Why is market research important? 

By understanding the significance of market research, you can make sure you’re asking the right questions and using the process to your advantage. Some of the benefits of market research include:

• Informed decision-making: Market research provides you with the data and insights you need to make smart decisions for your business. It helps you identify opportunities, assess risks and tailor your strategies to meet the demands of the market. Without market research, decisions are often based on assumptions or guesswork, leading to costly mistakes.
• Customer-centric approach: A cornerstone of market research involves developing a deep understanding of customer needs and preferences. This gives you valuable insights into your target audience, helping you develop products, services and marketing campaigns that resonate with your customers.
• Competitive advantage: By conducting market research, you’ll gain a competitive edge. You’ll be able to identify gaps in the market, analyze competitor strengths and weaknesses, and position your business strategically. This enables you to create unique value propositions, differentiate yourself from competitors, and seize opportunities that others may overlook.
• Risk mitigation: Market research helps you anticipate market shifts and potential challenges. By identifying threats early, you can proactively adjust their strategies to mitigate risks and respond effectively to changing circumstances. This proactive approach is particularly valuable in volatile industries.
• Resource optimization: Conducting market research allows organizations to allocate their time, money and resources more efficiently. It ensures that investments are made in areas with the highest potential return on investment, reducing wasted resources and improving overall business performance.
• Adaptation to market trends: Markets evolve rapidly, driven by technological advancements, cultural shifts and changing consumer attitudes. Market research ensures that you stay ahead of these trends and adapt your offerings accordingly so you can avoid becoming obsolete. 

As you can see, market research empowers businesses to make data-driven decisions, cater to customer needs, outperform competitors, mitigate risks, optimize resources and stay agile in a dynamic marketplace. These benefits make it a huge industry; the global market research services market is expected to grow from $76.37 billion in 2021 to $108.57 billion in 2026 . Now, let’s dig into the different types of market research that can help you achieve these benefits.

Types of market research 

• Qualitative research
• Quantitative research
• Exploratory research
• Descriptive research
• Causal research
• Cross-sectional research
• Longitudinal research

Despite its advantages, 23% of organizations don’t have a clear market research strategy. Part of developing a strategy involves choosing the right type of market research for your business goals. The most commonly used approaches include:

1. Qualitative research

Qualitative research focuses on understanding the underlying motivations, attitudes and perceptions of individuals or groups. It is typically conducted through techniques like in-depth interviews, focus groups and content analysis — methods we’ll discuss further in the sections below. Qualitative research provides rich, nuanced insights that can inform product development, marketing strategies and brand positioning.

2. Quantitative research

Quantitative research, in contrast to qualitative research, involves the collection and analysis of numerical data, often through surveys, experiments and structured questionnaires. This approach allows for statistical analysis and the measurement of trends, making it suitable for large-scale market studies and hypothesis testing. While it’s worthwhile using a mix of qualitative and quantitative research, most businesses prioritize the latter because it is scientific, measurable and easily replicated across different experiments.

3. Exploratory research

Whether you’re conducting qualitative or quantitative research or a mix of both, exploratory research is often the first step. Its primary goal is to help you understand a market or problem so you can gain insights and identify potential issues or opportunities. This type of market research is less structured and is typically conducted through open-ended interviews, focus groups or secondary data analysis. Exploratory research is valuable when entering new markets or exploring new product ideas.

4. Descriptive research

As its name implies, descriptive research seeks to describe a market, population or phenomenon in detail. It involves collecting and summarizing data to answer questions about audience demographics and behaviors, market size, and current trends. Surveys, observational studies and content analysis are common methods used in descriptive research. 

5. Causal research

Causal research aims to establish cause-and-effect relationships between variables. It investigates whether changes in one variable result in changes in another. Experimental designs, A/B testing and regression analysis are common causal research methods. This sheds light on how specific marketing strategies or product changes impact consumer behavior.

6. Cross-sectional research

Cross-sectional market research involves collecting data from a sample of the population at a single point in time. It is used to analyze differences, relationships or trends among various groups within a population. Cross-sectional studies are helpful for market segmentation, identifying target audiences and assessing market trends at a specific moment.

7. Longitudinal research

Longitudinal research, in contrast to cross-sectional research, collects data from the same subjects over an extended period. This allows for the analysis of trends, changes and developments over time. Longitudinal studies are useful for tracking long-term developments in consumer preferences, brand loyalty and market dynamics.

Each type of market research has its strengths and weaknesses, and the method you choose depends on your specific research goals and the depth of understanding you’re aiming to achieve. In the following sections, we’ll delve into primary and secondary research approaches and specific research methods.

Primary vs. secondary market research

Market research of all types can be broadly categorized into two main approaches: primary research and secondary research. By understanding the differences between these approaches, you can better determine the most appropriate research method for your specific goals.

Primary market research 

Primary research involves the collection of original data straight from the source. Typically, this involves communicating directly with your target audience — through surveys, interviews, focus groups and more — to gather information. Here are some key attributes of primary market research:

• Customized data: Primary research provides data that is tailored to your research needs. You design a custom research study and gather information specific to your goals.
• Up-to-date insights: Because primary research involves communicating with customers, the data you collect reflects the most current market conditions and consumer behaviors.
• Time-consuming and resource-intensive: Despite its advantages, primary research can be labor-intensive and costly, especially when dealing with large sample sizes or complex study designs. Whether you hire a market research consultant, agency or use an in-house team, primary research studies consume a large amount of resources and time.

Secondary market research 

Secondary research, on the other hand, involves analyzing data that has already been compiled by third-party sources, such as online research tools, databases, news sites, industry reports and academic studies.

Here are the main characteristics of secondary market research:

• Cost-effective: Secondary research is generally more cost-effective than primary research since it doesn’t require building a research plan from scratch. You and your team can look at databases, websites and publications on an ongoing basis, without needing to design a custom experiment or hire a consultant. 
• Leverages multiple sources: Data tools and software extract data from multiple places across the web, and then consolidate that information within a single platform. This means you’ll get a greater amount of data and a wider scope from secondary research.
• Quick to access: You can access a wide range of information rapidly — often in seconds — if you’re using online research tools and databases. Because of this, you can act on insights sooner, rather than taking the time to develop an experiment. 

So, when should you use primary vs. secondary research? In practice, many market research projects incorporate both primary and secondary research to take advantage of the strengths of each approach.

One rule of thumb is to focus on secondary research to obtain background information, market trends or industry benchmarks. It is especially valuable for conducting preliminary research, competitor analysis, or when time and budget constraints are tight. Then, if you still have knowledge gaps or need to answer specific questions unique to your business model, use primary research to create a custom experiment. 

Market research methods

• Surveys and questionnaires
• Focus groups
• Observational research
• Online research tools
• Experiments
• Content analysis
• Ethnographic research

How do primary and secondary research approaches translate into specific research methods? Let’s take a look at the different ways you can gather data: 

1. Surveys and questionnaires

Surveys and questionnaires are popular methods for collecting structured data from a large number of respondents. They involve a set of predetermined questions that participants answer. Surveys can be conducted through various channels, including online tools, telephone interviews and in-person or online questionnaires. They are useful for gathering quantitative data and assessing customer demographics, opinions, preferences and needs. On average, customer surveys have a 33% response rate , so keep that in mind as you consider your sample size.

2. Interviews

Interviews are in-depth conversations with individuals or groups to gather qualitative insights. They can be structured (with predefined questions) or unstructured (with open-ended discussions). Interviews are valuable for exploring complex topics, uncovering motivations and obtaining detailed feedback. 

3. Focus groups

The most common primary research methods are in-depth webcam interviews and focus groups. Focus groups are a small gathering of participants who discuss a specific topic or product under the guidance of a moderator. These discussions are valuable for primary market research because they reveal insights into consumer attitudes, perceptions and emotions. Focus groups are especially useful for idea generation, concept testing and understanding group dynamics within your target audience.

4. Observational research

Observational research involves observing and recording participant behavior in a natural setting. This method is particularly valuable when studying consumer behavior in physical spaces, such as retail stores or public places. In some types of observational research, participants are aware you’re watching them; in other cases, you discreetly watch consumers without their knowledge, as they use your product. Either way, observational research provides firsthand insights into how people interact with products or environments.

5. Online research tools

You and your team can do your own secondary market research using online tools. These tools include data prospecting platforms and databases, as well as online surveys, social media listening, web analytics and sentiment analysis platforms. They help you gather data from online sources, monitor industry trends, track competitors, understand consumer preferences and keep tabs on online behavior. We’ll talk more about choosing the right market research tools in the sections that follow.

6. Experiments

Market research experiments are controlled tests of variables to determine causal relationships. While experiments are often associated with scientific research, they are also used in market research to assess the impact of specific marketing strategies, product features, or pricing and packaging changes.

7. Content analysis

Content analysis involves the systematic examination of textual, visual or audio content to identify patterns, themes and trends. It’s commonly applied to customer reviews, social media posts and other forms of online content to analyze consumer opinions and sentiments.

8. Ethnographic research

Ethnographic research immerses researchers into the daily lives of consumers to understand their behavior and culture. This method is particularly valuable when studying niche markets or exploring the cultural context of consumer choices.

How to do market research

• Set clear objectives
• Identify your target audience
• Choose your research methods
• Use the right market research tools
• Collect data
• Analyze data 
• Interpret your findings
• Identify opportunities and challenges
• Make informed business decisions
• Monitor and adapt

Now that you have gained insights into the various market research methods at your disposal, let’s delve into the practical aspects of how to conduct market research effectively. Here’s a quick step-by-step overview, from defining objectives to monitoring market shifts.

1. Set clear objectives

When you set clear and specific goals, you’re essentially creating a compass to guide your research questions and methodology. Start by precisely defining what you want to achieve. Are you launching a new product and want to understand its viability in the market? Are you evaluating customer satisfaction with a product redesign? 

Start by creating SMART goals — objectives that are specific, measurable, achievable, relevant and time-bound. Not only will this clarify your research focus from the outset, but it will also help you track progress and benchmark your success throughout the process. 

You should also consult with key stakeholders and team members to ensure alignment on your research objectives before diving into data collecting. This will help you gain diverse perspectives and insights that will shape your research approach.

2. Identify your target audience

Next, you’ll need to pinpoint your target audience to determine who should be included in your research. Begin by creating detailed buyer personas or stakeholder profiles. Consider demographic factors like age, gender, income and location, but also delve into psychographics, such as interests, values and pain points.

The more specific your target audience, the more accurate and actionable your research will be. Additionally, segment your audience if your research objectives involve studying different groups, such as current customers and potential leads.

If you already have existing customers, you can also hold conversations with them to better understand your target market. From there, you can refine your buyer personas and tailor your research methods accordingly.

3. Choose your research methods

Selecting the right research methods is crucial for gathering high-quality data. Start by considering the nature of your research objectives. If you’re exploring consumer preferences, surveys and interviews can provide valuable insights. For in-depth understanding, focus groups or observational research might be suitable. Consider using a mix of quantitative and qualitative methods to gain a well-rounded perspective. 

You’ll also need to consider your budget. Think about what you can realistically achieve using the time and resources available to you. If you have a fairly generous budget, you may want to try a mix of primary and secondary research approaches. If you’re doing market research for a startup , on the other hand, chances are your budget is somewhat limited. If that’s the case, try addressing your goals with secondary research tools before investing time and effort in a primary research study. 

4. Use the right market research tools

Whether you’re conducting primary or secondary research, you’ll need to choose the right tools. These can help you do anything from sending surveys to customers to monitoring trends and analyzing data. Here are some examples of popular market research tools:

• Market research software: Crunchbase is a platform that provides best-in-class company data, making it valuable for market research on growing companies and industries. You can use Crunchbase to access trusted, first-party funding data, revenue data, news and firmographics, enabling you to monitor industry trends and understand customer needs.

• Survey and questionnaire tools: SurveyMonkey is a widely used online survey platform that allows you to create, distribute and analyze surveys. Google Forms is a free tool that lets you create surveys and collect responses through Google Drive.
• Data analysis software: Microsoft Excel and Google Sheets are useful for conducting statistical analyses. SPSS is a powerful statistical analysis software used for data processing, analysis and reporting.
• Social listening tools: Brandwatch is a social listening and analytics platform that helps you monitor social media conversations, track sentiment and analyze trends. Mention is a media monitoring tool that allows you to track mentions of your brand, competitors and keywords across various online sources.
• Data visualization platforms: Tableau is a data visualization tool that helps you create interactive and shareable dashboards and reports. Power BI by Microsoft is a business analytics tool for creating interactive visualizations and reports.

5. Collect data

There’s an infinite amount of data you could be collecting using these tools, so you’ll need to be intentional about going after the data that aligns with your research goals. Implement your chosen research methods, whether it’s distributing surveys, conducting interviews or pulling from secondary research platforms. Pay close attention to data quality and accuracy, and stick to a standardized process to streamline data capture and reduce errors. 

6. Analyze data

Once data is collected, you’ll need to analyze it systematically. Use statistical software or analysis tools to identify patterns, trends and correlations. For qualitative data, employ thematic analysis to extract common themes and insights. Visualize your findings with charts, graphs and tables to make complex data more understandable.

If you’re not proficient in data analysis, consider outsourcing or collaborating with a data analyst who can assist in processing and interpreting your data accurately.

7. Interpret your findings

Interpreting your market research findings involves understanding what the data means in the context of your objectives. Are there significant trends that uncover the answers to your initial research questions? Consider the implications of your findings on your business strategy. It’s essential to move beyond raw data and extract actionable insights that inform decision-making.

Hold a cross-functional meeting or workshop with relevant team members to collectively interpret the findings. Different perspectives can lead to more comprehensive insights and innovative solutions.

8. Identify opportunities and challenges

Use your research findings to identify potential growth opportunities and challenges within your market. What segments of your audience are underserved or overlooked? Are there emerging trends you can capitalize on? Conversely, what obstacles or competitors could hinder your progress?

Lay out this information in a clear and organized way by conducting a SWOT analysis, which stands for strengths, weaknesses, opportunities and threats. Jot down notes for each of these areas to provide a structured overview of gaps and hurdles in the market.

9. Make informed business decisions

Market research is only valuable if it leads to informed decisions for your company. Based on your insights, devise actionable strategies and initiatives that align with your research objectives. Whether it’s refining your product, targeting new customer segments or adjusting pricing, ensure your decisions are rooted in the data.

At this point, it’s also crucial to keep your team aligned and accountable. Create an action plan that outlines specific steps, responsibilities and timelines for implementing the recommendations derived from your research. 

10. Monitor and adapt

Market research isn’t a one-time activity; it’s an ongoing process. Continuously monitor market conditions, customer behaviors and industry trends. Set up mechanisms to collect real-time data and feedback. As you gather new information, be prepared to adapt your strategies and tactics accordingly. Regularly revisiting your research ensures your business remains agile and reflects changing market dynamics and consumer preferences.

Online market research sources

As you go through the steps above, you’ll want to turn to trusted, reputable sources to gather your data. Here’s a list to get you started:

• Crunchbase: As mentioned above, Crunchbase is an online platform with an extensive dataset, allowing you to access in-depth insights on market trends, consumer behavior and competitive analysis. You can also customize your search options to tailor your research to specific industries, geographic regions or customer personas.

• Academic databases: Academic databases, such as ProQuest and JSTOR , are treasure troves of scholarly research papers, studies and academic journals. They offer in-depth analyses of various subjects, including market trends, consumer preferences and industry-specific insights. Researchers can access a wealth of peer-reviewed publications to gain a deeper understanding of their research topics.
• Government and NGO databases: Government agencies, nongovernmental organizations and other institutions frequently maintain databases containing valuable economic, demographic and industry-related data. These sources offer credible statistics and reports on a wide range of topics, making them essential for market researchers. Examples include the U.S. Census Bureau , the Bureau of Labor Statistics and the Pew Research Center .
• Industry reports: Industry reports and market studies are comprehensive documents prepared by research firms, industry associations and consulting companies. They provide in-depth insights into specific markets, including market size, trends, competitive analysis and consumer behavior. You can find this information by looking at relevant industry association databases; examples include the American Marketing Association and the National Retail Federation .
• Social media and online communities: Social media platforms like LinkedIn or Twitter (X) , forums such as Reddit and Quora , and review platforms such as G2 can provide real-time insights into consumer sentiment, opinions and trends. 

Market research examples

At this point, you have market research tools and data sources — but how do you act on the data you gather? Let’s go over some real-world examples that illustrate the practical application of market research across various industries. These examples showcase how market research can lead to smart decision-making and successful business decisions.

Example 1: Apple’s iPhone launch

Apple ’s iconic iPhone launch in 2007 serves as a prime example of market research driving product innovation in tech. Before the iPhone’s release, Apple conducted extensive market research to understand consumer preferences, pain points and unmet needs in the mobile phone industry. This research led to the development of a touchscreen smartphone with a user-friendly interface, addressing consumer demands for a more intuitive and versatile device. The result was a revolutionary product that disrupted the market and redefined the smartphone industry.

Example 2: McDonald’s global expansion

McDonald’s successful global expansion strategy demonstrates the importance of market research when expanding into new territories. Before entering a new market, McDonald’s conducts thorough research to understand local tastes, preferences and cultural nuances. This research informs menu customization, marketing strategies and store design. For instance, in India, McDonald’s offers a menu tailored to local preferences, including vegetarian options. This market-specific approach has enabled McDonald’s to adapt and thrive in diverse global markets.

Example 3: Organic and sustainable farming

The shift toward organic and sustainable farming practices in the food industry is driven by market research that indicates increased consumer demand for healthier and environmentally friendly food options. As a result, food producers and retailers invest in sustainable sourcing and organic product lines — such as with these sustainable seafood startups — to align with this shift in consumer values. 

The bottom line? Market research has multiple use cases and is a critical practice for any industry. Whether it’s launching groundbreaking products, entering new markets or responding to changing consumer preferences, you can use market research to shape successful strategies and outcomes.

Market research templates

You finally have a strong understanding of how to do market research and apply it in the real world. Before we wrap up, here are some market research templates that you can use as a starting point for your projects:

• Smartsheet competitive analysis templates : These spreadsheets can serve as a framework for gathering information about the competitive landscape and obtaining valuable lessons to apply to your business strategy.
• SurveyMonkey product survey template : Customize the questions on this survey based on what you want to learn from your target customers.
• HubSpot templates : HubSpot offers a wide range of free templates you can use for market research, business planning and more.
• SCORE templates : SCORE is a nonprofit organization that provides templates for business plans, market analysis and financial projections.
• SBA.gov : The U.S. Small Business Administration offers templates for every aspect of your business, including market research, and is particularly valuable for new startups. 

Strengthen your business with market research

When conducted effectively, market research is like a guiding star. Equipped with the right tools and techniques, you can uncover valuable insights, stay competitive, foster innovation and navigate the complexities of your industry.

Throughout this guide, we’ve discussed the definition of market research, different research methods, and how to conduct it effectively. We’ve also explored various types of market research and shared practical insights and templates for getting started. 

Now, it’s time to start the research process. Trust in data, listen to the market and make informed decisions that guide your company toward lasting success.

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What Is Market Research?

• How It Works
• Primary vs. Secondary
• How to Conduct Research

The Bottom Line

• Marketing Essentials

How to Do Market Research, Types, and Example

Joules Garcia / Investopedia

Market research examines consumer behavior and trends in the economy to help a business develop and fine-tune its business idea and strategy. It helps a business understand its target market by gathering and analyzing data.

Market research is the process of evaluating the viability of a new service or product through research conducted directly with potential customers. It allows a company to define its target market and get opinions and other feedback from consumers about their interest in a product or service.

Research may be conducted in-house or by a third party that specializes in market research. It can be done through surveys and focus groups, among other ways. Test subjects are usually compensated with product samples or a small stipend for their time.

Key Takeaways

• Companies conduct market research before introducing new products to determine their appeal to potential customers.
• Tools include focus groups, telephone interviews, and questionnaires.
• The results of market research inform the final design of the product and determine how it will be positioned in the marketplace.
• Market research usually combines primary information, gathered directly from consumers, and secondary information, which is data available from external sources.

Market Research

How market research works.

Market research is used to determine the viability of a new product or service. The results may be used to revise the product design and fine-tune the strategy for introducing it to the public. This can include information gathered for the purpose of determining market segmentation . It also informs product differentiation , which is used to tailor advertising.

A business engages in various tasks to complete the market research process. It gathers information based on the market sector being targeted by the product. This information is then analyzed and relevant data points are interpreted to draw conclusions about how the product may be optimally designed and marketed to the market segment for which it is intended.

It is a critical component in the research and development (R&D) phase of a new product or service introduction. Market research can be conducted in many different ways, including surveys, product testing, interviews, and focus groups.

Market research is a critical tool that companies use to understand what consumers want, develop products that those consumers will use, and maintain a competitive advantage over other companies in their industry.

Primary Market Research vs. Secondary Market Research

Market research usually consists of a combination of:

• Primary research, gathered by the company or by an outside company that it hires
• Secondary research, which draws on external sources of data

Primary Market Research

Primary research generally falls into two categories: exploratory and specific research.

• Exploratory research is less structured and functions via open-ended questions. The questions may be posed in a focus group setting, telephone interviews, or questionnaires. It results in questions or issues that the company needs to address about a product that it has under development.
• Specific research delves more deeply into the problems or issues identified in exploratory research.

Secondary Market Research

All market research is informed by the findings of other researchers about the needs and wants of consumers. Today, much of this research can be found online.

Secondary research can include population information from government census data , trade association research reports , polling results, and research from other businesses operating in the same market sector.

History of Market Research

Formal market research began in Germany during the 1920s. In the United States, it soon took off with the advent of the Golden Age of Radio.

Companies that created advertisements for this new entertainment medium began to look at the demographics of the audiences who listened to each of the radio plays, music programs, and comedy skits that were presented.

They had once tried to reach the widest possible audience by placing their messages on billboards or in the most popular magazines. With radio programming, they had the chance to target rural or urban consumers, teenagers or families, and judge the results by the sales numbers that followed.

Types of Market Research

Face-to-face interviews.

From their earliest days, market research companies would interview people on the street about the newspapers and magazines that they read regularly and ask whether they recalled any of the ads or brands that were published in them. Data collected from these interviews were compared to the circulation of the publication to determine the effectiveness of those ads.

Market research and surveys were adapted from these early techniques.

To get a strong understanding of your market, it’s essential to understand demand, market size, economic indicators, location, market saturation, and pricing.

Focus Groups

A focus group is a small number of representative consumers chosen to try a product or watch an advertisement.

Afterward, the group is asked for feedback on their perceptions of the product, the company’s brand, or competing products. The company then takes that information and makes decisions about what to do with the product or service, whether that's releasing it, making changes, or abandoning it altogether.

Phone Research

The man-on-the-street interview technique soon gave way to the telephone interview. A telephone interviewer could collect information in a more efficient and cost-effective fashion.

Telephone research was a preferred tactic of market researchers for many years. It has become much more difficult in recent years as landline phone service dwindles and is replaced by less accessible mobile phones.

Survey Research

As an alternative to focus groups, surveys represent a cost-effective way to determine consumer attitudes without having to interview anyone in person. Consumers are sent surveys in the mail, usually with a coupon or voucher to incentivize participation. These surveys help determine how consumers feel about the product, brand, and price point.

Online Market Research

With people spending more time online, market research activities have shifted online as well. Data collection still uses a survey-style form. But instead of companies actively seeking participants by finding them on the street or cold calling them on the phone, people can choose to sign up, take surveys, and offer opinions when they have time.

This makes the process far less intrusive and less rushed, since people can participate on their own time and of their own volition.

How to Conduct Market Research

The first step to effective market research is to determine the goals of the study. Each study should seek to answer a clear, well-defined problem. For example, a company might seek to identify consumer preferences, brand recognition, or the comparative effectiveness of different types of ad campaigns.

After that, the next step is to determine who will be included in the research. Market research is an expensive process, and a company cannot waste resources collecting unnecessary data. The firm should decide in advance which types of consumers will be included in the research, and how the data will be collected. They should also account for the probability of statistical errors or sampling bias .

The next step is to collect the data and analyze the results. If the two previous steps have been completed accurately, this should be straightforward. The researchers will collect the results of their study, keeping track of the ages, gender, and other relevant data of each respondent. This is then analyzed in a marketing report that explains the results of their research.

The last step is for company executives to use their market research to make business decisions. Depending on the results of their research, they may choose to target a different group of consumers, or they may change their price point or some product features.

The results of these changes may eventually be measured in further market research, and the process will begin all over again.

Benefits of Market Research

Market research is essential for developing brand loyalty and customer satisfaction. Since it is unlikely for a product to appeal equally to every consumer, a strong market research program can help identify the key demographics and market segments that are most likely to use a given product.

Market research is also important for developing a company’s advertising efforts. For example, if a company’s market research determines that its consumers are more likely to use Facebook than X (formerly Twitter), it can then target its advertisements to one platform instead of another. Or, if they determine that their target market is value-sensitive rather than price-sensitive, they can work on improving the product rather than reducing their prices.

Market research only works when subjects are honest and open to participating.

Example of Market Research

Many companies use market research to test new products or get information from consumers about what kinds of products or services they need and don’t currently have.

For example, a company that’s considering starting a business might conduct market research to test the viability of its product or service. If the market research confirms consumer interest, the business can proceed confidently with its business plan . If not, the company can use the results of the market research to make adjustments to the product to bring it in line with customer desires.

What Are the Main Types of Market Research?

The main types of market research are primary research and secondary research. Primary research includes focus groups, polls, and surveys. Secondary research includes academic articles, infographics, and white papers.

Qualitative research gives insights into how customers feel and think. Quantitative research uses data and statistics such as website views, social media engagement, and subscriber numbers.

What Is Online Market Research?

Online market research uses the same strategies and techniques as traditional primary and secondary market research, but it is conducted on the Internet. Potential customers may be asked to participate in a survey or give feedback on a product. The responses may help the researchers create a profile of the likely customer for a new product.

What Are Paid Market Research Surveys?

Paid market research involves rewarding individuals who agree to participate in a study. They may be offered a small payment for their time or a discount coupon in return for filling out a questionnaire or participating in a focus group.

What Is a Market Study?

A market study is an analysis of consumer demand for a product or service. It looks at all of the factors that influence demand for a product or service. These include the product’s price, location, competition, and substitutes as well as general economic factors that could influence the new product’s adoption, for better or worse.

Market research is a key component of a company’s research and development (R&D) stage. It helps companies understand in advance the viability of a new product that they have in development and to see how it might perform in the real world.

Britannica Money. “ Market Research .”

U.S. Small Business Administration. “ Market Research and Competitive Analysis .”

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Market Research: What It Is, Why It Matters, and How To Get It Right

What is market research?

What is market research used for? How important is it? And, how do you choose the right type of research for your business?

Sit back, take five, and I’ll explain the different types of research , what tools are best for the job, and how you can leverage them to grow your business and master your market .

Market research definition:

Market research means to systematically collect and analyze data about a target market or defined segment. It’s a multivariate process that uncovers key facts and insights to inform decisions.

Whether you’re launching a new product , looking for ways to expand a business, or seeking out efficiencies in an existing company, market research is a highly effective way to flesh-out ideas, innovate, and grow. 

Advantages of market research

Market research helps you identify your greatest strengths, threats, and opportunities. It can help you find your way when markets become tough to predict and find efficient ways to grow your business .

• Reduce costs
• Define detailed customer personas
• Make data-driven decisions
• Find new opportunities for growth
• Unpack competitor’s successes
• Develop an informed content marketing strategy
• Identify trends
• Inform market analysis
• Discover the best marketing channels to use
• Find the best ways to communicate with customers
• Benchmark performance against rivals

Online market research can help the whole business at any stage of its life. When practiced consistently and systematically, you can realize its many benefits.

Why is market research important?

Market research helps you identify your greatest threats. And it also gives you a clear picture of opportunities you can capitalize on for greater returns on your business investments, or ROI.

Understanding your specific market on different levels and from different perspectives helps you reach well-informed, data-informed decisions . The process can involve multiple phases. But, if you follow a systematic approach using a market research template , your efforts will pay off.

To skip ahead and start right now, download our free pack of market research templates.

Different types of market research

Market research is a questions and answers game. Once you’ve asked the important questions, you’ll need to choose the right type of research to get your answers. There are four core types of research, each of which can be applied to help you solve a problem or gather insights to inform key decisions.

Primary market research

Primary market research is the first-hand collection of data. It’s data that’s not available to others, and can be obtained in a number of ways. Here are the most common.

• Web Metrics Use analytics software that provides traffic and engagement metrics to understand how audiences behave.
• Observation To observe how users behave and navigate your site, you can install software that records visits and creates heatmaps. Such tools are useful for qualitative research regarding your UX/UI and at the same time, quantify the findings.
• Customer surveys Survey questionnaires and polls can be distributed to any number of customers through email, SMS, your site, or social media. They let you collect both qualitative and quantitative data from respondents using open-ended questions.
• Focus groups You select a small number of people for a group discussion. A moderator leads the session with questions and records the conclusions. This is also a form of qualitative research, and you would use it to get in-depth information.
• Face-to-face interviews Another qualitative assessment method is one-on-one interviews. Consumers representative of your target audience or a segment of it are selected to answer questions about a specific research topic.
• Phone calls To involve a larger number of people and get more answers, you can conduct surveys over the phone. These interviews would be less specific and include fewer questions.

Helpful: A complete guide to doing primary market research

Secondary market research

Secondary research is second-hand data that has already been produced. It’s available to all who wish to consume it. Using this type of data is preferred by those who wish to keep costs low, as it can be quicker and freely available.

• Government reports and census data Annual, quarterly, and other periodic industry reports are a rich data source to tap into. Government organizations publish statistics in areas of trade, ecommerce, and finance.
• Academic papers and educational resources University research is a source of high-quality information. This is useful for in-depth background information on a broad scale.
• Online articles and case studies, public and commercial sources Industry-specific publications can be a valuable source of information for market segmentation, providing you with data and insights on market trends or a specific market segment or niche.

Further reading: A complete guide to doing desk research

Qualitative market research

Qualitative market research is one of the best ways to understand how people think or feel about a brand, product, or service. It takes more time to plan and analyze the results than other market research types. However, with tools like market research surveys , there are quick and effective ways to do it.

As some of the methods are outlined in the primary and secondary research sections, I’ve included a short list of qualitative research methods below.

• Focus groups
• Case study or whitepaper 
• Online forums
• Biometrics 
• Ethnography

Helpful: Read the complete guide to qualitative research and 83 qualitative research questions & examples

Quantitative market research

Quantitative market research is all about numbers. It collects numerical data to help answer specific research questions . The information collected can be easily quantified and analyzed to establish trends, insights, and patterns.

With this type of research, you’ve got three core data collection methods. However, you’ve also got to consider the design of the research, which can impact which method is used.

What is market research used for?

The applications for market research are virtually limitless. Market research can help you unravel the most complex of business challenges to reach data-driven decisions , and when used consistently, it can help you navigate turbulent times, fuel growth, and support your success . Here are just a few examples of what market research is used for, with a few real-world examples thrown in for good measure.

1. Company research

Market research allows you to shine a spotlight on any business and unpack its wins and losses for your own gain. Let’s say you are doing market research for a business plan ; you’ll likely want to evaluate the successes of others in your industry. Doing systematic company research is a proven way to inform a SWOT analysis .

Doing industry analysis can show you who your industry leaders are , along with any emerging players showing exponential growth.

Let’s say I want to find out which companies to research, I would use Similarweb Digital Research Intelligence to analyze an industry. Here, I can see who my top companies to watch are instantly. It also shows me other companies showing rapid growth in my market.

Read More: How to Research a Company: The Ultimate Guide

2. Competitive benchmarking

Most of your relevant data will come from your competition. If you plan to offer something that’s new for you but already exists in the market, learn from other’s mistakes and successes. If your goal is to evaluate and optimize, collect competitors’ data, and compare it to yours. See what works for them, find their weak spots, and improve on them.

What market research gives you here, is the ability to systematically compare each of your rivals. And, it’s not as complex as it sounds either. Simply choose a type of competitive analysis frameworks to use, complete the template for each; then compare the results to uncover relevant insights.

Read More: The Why and How of Competitive Benchmarking

3. Trendspotting

Another objective for market researchers is to forecast upcoming trends. Data collection over time helps you understand the dynamics of the market. Some markets have strong seasonal fluctuations. Increased shopping during December is an obvious example, but often these shifts are not always evident unless you measure and analyze them specifically.

With the data from your historical market research, you can evaluate their impact and the likelihood you will keep seeing these trends. Based on that, you can make predictions about future developments.

4. Audience analysis

Who will find your product most useful and why? 

Examining the size of your audience and the existing demand for your product or services is crucial. Understanding  your target audience allows you to build your product offering and marketing strategy more efficiently. You also want to learn first-hand where people buy this type of product and how much they are willing to spend so that you can estimate your reachable market share .

Here’s a quick example of how we use Similarweb to do effective audience analysis . You can unpack key audience demographics for any site you choose. And get up-to-date stats about gender, age, location, interests, browsing habits, and more.

5. Market segmentation

There are lots of ways to segment a market. Doing this well can deliver higher conversions, reduce costs, redefine marketing strategies, and help you connect with customers on a more personal level. Market research can help you do most types of market segmentation, the most widely adopted of all is demographic segmentation. Here, you look for shared but specific characteristics of a target audience.

Using Similarweb, I can view audience demographics for a website, and compare it side-by-side with rival sites. In this example, I am looking at hotel booking sites to try and spot any difference between the respective audiences of each.

Helpful: Read our complete guide to market segmentation

6. Marketing strategy

Market research can also help you reach the right decision regarding where to advertise or market your business. After analyzing the data, you’ll know which marketing channels are most effective with your target audience. You can also use research to look at the specific keywords and ad creatives that are generating the best responses and ROI.

Similarweb Digital Research Intelligence makes this type of research effortless. Within the marketing channels tab, you can analyze an entire industry or hone in on a specific site of interest. View the various channels across social media, email, direct, organic search, paid search, and display ads to see which channels convert and where the highest channel traffic comes from.

7. Customer experience

Market research is your best way to get information that isn’t naturally visible but that may significantly affect your business. Just think, the fact that your users don’t complain doesn’t necessarily mean they are all delighted with what you offer.

While some customers tend to keep their criticism to themselves, others will be vocal and leave reviews online. Market research is a powerful tool to help inform improvements to services and products alike. Asking for feedback, listening to it, and looking at the feedback left for rivals in your market can uncover telling insights that can shape service offerings, marketing campaigns, and new feature development.

To see what people use market research for and view real-world instances of research in action, head over to our market research examples page.

Tools for market research

When we look at what market research is, the answer is always rooted in data . Over 100 years ago, vehicle manufacturers undertook extensive research to help them develop different models to suit various segments of society. Fast-forward 100 years, and we find similar applications still exist. However, what’s changed are the tools being used and, more importantly, the accessibility of those tools to a far broader audience .

There are more market intelligence tools in existence today than ever before. Here’s a quick summary of a few you can use to collect information for your market research.

• Google Trends Google Trends is a valuable resource for quantitative research data about market tendencies and user behavior.

• Similarweb Research Intelligence Get the freshest digital intelligence from a platform that shows the insights that count. With the ability to analyze an entire market in an instant and unpick competitors’ wins and losses online, you can count on it to help you perform quick and effective market research.
• Hotjar The digital tool lets you observe and record user behavior on your website. It also creates heatmaps of your pages so you can analyze how visitors navigate.
• SurveyMonkey Create your own online survey with this free tool. SurveyMonkey provides templates for questionnaires and lets you distribute them through your various channels, then collect and interpret results.
• YouGov This platform offers its users daily with thousands of data points and statistics on consumer attitudes, opinions, and behavior.
• Pew Research Center This non-profit organization conducts and publishes public opinion polling, demographic research, content analysis, and other data-driven social science research.
• Living Facts The site provides current statistics about the American population, including demographics, social and health issues, opinions, and more.

Read this post to see what market research tools are hot right now.

Wrapping up: what is market research

Market research is insight. It gives you information to fuel key decisions in your business. Without it, companies must navigate their market uncertainly and make key decisions based on instinct or outdated data.

Similarweb transforms the way companies do market research . There’s no expensive outlay for prolonged research reports that take an age to produce. The data is the freshest there is; it’s credible and shows traffic trends and comparable performance like no other.

Try using it to answer your next big market research question.

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What are the benefits of market research?

Effective market research helps businesses understand and improve their position while also identifying potential threats and opportunities, while also spotting emerging trends .

What is the main purpose of market research?

The main benefit of market research is insight. It can give you access to the data you need to make decisions in your business. Before you invest money or time in any venture, use market research to inform your decision.  

What’s the difference between primary and secondary market research?

Primary research is research you conduct on your own that uses numbers and metrics, and secondary research is research that was done by someone else with a qualitative focus.

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Marketing research: Definition, steps, uses & advantages

What is marketing research?

Marketing research is defined as any technique or a set of practices that companies use to collect information to understand their target market better. Organizations use this data to improve their products, enhance their UX, and offer a better product to their customers. Marketing research is used to determine what the customers want, and how they react to products or features of a product.

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Four standard marketing research methods

The four most common marketing research methods are surveys, interviews, customer observations, and focus groups. You can research various ways without limiting yourself to just one way. Let’s dive deeper into each of these marketing research techniques.

Researchers collect responses by deploying surveys and managing data via online questionnaires or on-screen surveys at the POS. These surveys contain closed-ended and open-ended questions. They are popular and are the most widely used research techniques.

Why are online surveys popular?

Surveys are inexpensive, simple to set-up, deploy, and gather responses. It gets easy to collect multiple answers from a tailored audience group using surveys. Researchers rely on quantitative data, and online surveys provide quick responses compared to the more traditional offline methods. You can collect large amounts of data within minutes from anywhere in the world.

2. Interviews

Face-to-face or personal interviews are a more traditional way of doing marketing research. It is a slow and more expensive way of collecting responses. Researchers doing large scale marketing research do not prefer this method to collect a large number of responses. Interviews are conducted both in-person and on the telephone (CATI). 

Why are interviews important?

Personal interviews may not be widely used but play a significant role in understanding precisely what the respondent feels. You can record more than just verbal responses and understand the customer better. Often, when two humans interact with each other, more information is shared because of the dialogue. Personal interviews are useful in small-scale studies, where the researcher wants to interview a specific group of local respondents. CATI’s are helpful when the respondent base is more expansive.

3. Focus groups

Focus groups or online focus groups involve several respondents who participate in discussions about a particular topic. A researcher conducts focus groups to obtain richer information. The main reason for a focus group is to hold a dialogue between various people on a particular topic of interest. Unlike interviews, focus group members are allowed to interact with each other and influence one another.

Why are focus groups impactful?

It is no secret that focus groups are hugely impactful in decision making. Researchers gain a lot of information by organizing focus groups. Often, focus groups bring up issues not foreseen by researchers. Online or video focus groups have a broad reach, and many organizations have now started creating and nurturing research communities for better respondent handling and data gathering. Direct interaction of business groups and customers positively impacts users because they feel that their voices are heard.

4. Observation

Observation, though not popular and widely used, gives intuitive feedback. Research companies organize customer observation sessions to gather information on how they engage with the product or service (or a similar competitor product or service). Feedback from people’s behavioral attitudes is a powerful tool for researchers looking to improve their products and services.

What makes observation so powerful?

Observational market research is an excellent alternative to focus groups. It’s not only an inexpensive research tool, but you will also witness people interacting with and using your product in a natural environment. The downside is that you will have to make inferences about their feelings and reactions.

LEARN ABOUT: market research trends

How to conduct marketing research

Follow these four marketing research steps to help you understand what your users think and feel about your product, service, or business.

LEARN ABOUT: Behavioral Research

1. Create simple user personas

A user persona is nothing more than a fictional character that represents a user or a customer. Understanding user personas will help you gauge how different persons react to other products and services to understand their needs. To create a persona, your questions must answer these types questions about the user or customer:

• Who are they?
• What’s their primary goal?
• What stops them from achieving that goal?

2. Conduct observational research

Use both overt and covert observation methods to observe and take notes while users use your products or a similar one.

Overt vs. covert observation

• Overt observation asks users if they will allow you to watch them use your product. 
• Covert observation studies users in a natural environment without them knowing. This type of observation generally works only if you sell a product that consumers buy and use regularly. It brings in the purest observational research data as people act naturally while using the products. 

3. Conduct personal interviews

One-on-one conversations with your target population allow you to explore and dig deep into their concerns, revealing answers to many questions. Here are a few tips for conducting personal interviews.

• Be a journalist and not a salesperson. Ask users about their frustrations, needs, and areas where they think they need an improvement in the product. 
• Pose the ‘why’ question to dig deeper. Dive into the details to know more about their past behavior.
• Recording the conversation helps you focus on it rather than take notes simultaneously.

4. Analyze the data

The idea of conducting lean marketing research is to receive quick, actionable insight data. Analyze the information you have collected using various techniques to draw patterns into what customers like and dislike, what they want, and what they do not need. Create a simple visual representation of how people will interact with each other and the product to assess their needs in a better way.

LEARN ABOUT: Marketing Insight

Why is research so valuable?

Without research, it is impossible to gauge and understand your customers. Of course, you will have an idea of what they need and who they are and, but you must dive deeper to win their loyalty. Here is why marketing research matters:

• Attract potential customers: The primary aim of marketing research is to find ways to attract potential customers. It also helps to keep current happy and coming back for more. Understanding your customers entirely is the only way to progress. You’ll lose potential customers if you stop caring about improving your user experience.
• Answer the why’s: Marketing research gives you the answer to the ‘why.’ Make use of user analytics, big data, and reporting dashboards in marketing research to tell you what your users are thinking and why they think and act that way. For example, only marketing research can explain why customers leave you.
• Data-backed decisions: Research beats trends, assumptions, and so-called best business practices. Bad decisions are often taken due to emotional reasoning and guesswork. Focusing on customer experience by listening to your customers directs you in the right direction.
• Better planning: Research keeps you from making absurd decisions by planning in a vacuum. You might not fully gauge what your customers experience and feel while using your product. Customers may use products in a way that surprises you, and they may get confused by features that seem obvious to you. Conducting too much planning but not testing your assumptions will waste your money, time, efforts, and resources. Research helps you save up on all these factors.

LEARN ABOUT: 12 Best Tools for Researchers

Advantages of MKT research

Marketing research and user experience (UX) design help you continuously improve your product by acting on your feedback. Here are the advantages of conducting marketing research:

• Improved efficiency: Efficiency draws you closer to your users. You can improve the efficiency of delivering the product to the market and also increase its usability.
• Cost-effective: Marketing research helps you make the right decisions based on consumer demand, thus saving you costs in creating something that customers do not like or want.

LEARN ABOUT:  Test Market Demand

• Competitive edge: Quicker, more robust insights can help you place your services and products strategically, gaining a competitive advantage over others.
• Build strategies: You can quickly build, alter, or design new approaches to attract your users and consumers.
• Improved communication: Bridge the communication gap by interacting with consumers and hearing them out. This helps consumers feel wanted and special.
• LEARN ABOUT: Market research vs marketing research

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Marketing Research: Types, Process, Models

Let’s learn about Marketing Research, its types, processes, steps, and models.

Meaning of Marketing Research

Marketing research specifies the information, manages and implements the data collection process, analyzes the results, and communicates the findings and implications. To offset unpredictable consumer behavior , companies invest in marketing research.

Increased customer focus, resource productivity demands, and domestic and international competition have prompted an increased emphasis on marketing research.

Managers cannot always wait for information to arrive in bits and pieces from marketing departments. They often require formal studies of specific situations. This official study is called marketing research, whether performed internally or externally.

As stated earlier, marketing research is generally considered part of an MIS.

Marketing research is the systematic and scientifically unbiased data collection and analysis, preparing information relevant to a particular problem or opportunity.

It may also be defined as the systematic collection of information for decision-making. A firm gets and tests ideas through marketing research.

You should know that marketing research is not a part of the marketing mix but rather an aid to management in making decisions about the company’s marketing mix and the target market.

It is a process, not an institution; as such, it is a part of virtually all aspects of the research process, from data collection to information transmission .

Marketing research processes are almost always used to collect data for recurring and unique decision-making.

For data evaluation, research methods are commonly used to determine the error factors in collected data when certain sampling techniques ( e.g., purposive samples) are used.

Similarly, data transformation occurs mostly through statistical testing methods normally used in marketing research.

We first define and discuss what marketing research refers to.

Marketing Research Definition

Marketing research is the systematic and objective identification, collection, analysis, and dissemination of information about issues relating to marketing products and services for the sole purpose of assisting management in decision-making related to the identification and solution of problems and opportunities in marketing.

Marketing research aims to identify and assess how changing elements of the marketing mix impact customer behavior.

The term is commonly interchanged with market research; however, expert practitioners sometimes draw a distinction.

Market research is concerned specifically with markets, while marketing research is concerned with marketing processes.

Marketing research is partitioned into two sets of categorical pairs:

• Consumer marketing research
• Business-to-business (B2B) marketing research

Consumer Marketing Research

Consumer marketing research is a form of applied sociology that concentrates on understanding consumers’ preferences, attitudes, and behaviors in a market-based economy. It aims to understand the effects and relative success of marketing campaigns.

Arthur Nielsen pioneered consumer marketing research as a statistical science by founding the AC Nielsen Company in 1923.

Marketing managers make numerous strategic and tactical decisions in identifying and satisfying customer needs.

They make decisions about potential opportunities, target market selection , market segmentation, planning and implementing marketing programs, marketing performance, and control.

Traditionally, marketing researchers provided relevant information, and the managers made marketing decisions.

However, the roles are changing, marketing researchers are becoming more involved in decision-making, and marketing managers are becoming more involved with research.

DECIDE Model in Marketing Research

The role of marketing research in managerial decision-making is explained further using the framework of what is known as the DECIDE model . The structure of the model is as follows:

• D: Define the marketing problem;
• E: Enumerate the decision factors;
• C: Collect relevant information;
• I: Identify the best alternative;
• D: Develop (and implement) a marketing plan;
• E: Evaluate the decision and the decision-making process.

The DECIDE model conceptualizes managerial decision-making as a set of six steps. The decision process begins by defining the problem, opportunity, objectives, and constraints.

Next, the possible decision factors that make up the alternative courses of action (controllable factors) and uncertainties (uncontrollable factors) are enumerated.

Then, relevant information on the alternatives and possible outcomes is collected. The next step is to select the best option based on chosen criteria or measures of success.

Then a detailed plan to implement the alternative selected is developed and put into effect. Lastly, the outcome of the decision and the decision process itself is evaluated.

A specialized form of marketing research is the so-called advertising research. The sole purpose of conducting this research is to improve the efficacy of advertising.

It may focus on a specific ad or campaign or be directed at a more general understanding of how advertising works or how consumers use the information in advertising.

It can entail various research approaches, including psychological, sociological, economic, and other perspectives.

Another component of marketing research is product research

Product research looks at what products can be produced with available technology and what new product innovations near-future technology can develop .

Business-to-business (B2B) Marketing Research

There are several ways in which a company can obtain marketing research. The company may have a marketing research department.

The person in charge of this department plays a multidimensional role, such as a study director, administrator, company consultant, and advocate who usually reports to the company’s marketing head.

If the company cannot afford to maintain a separate marketing research department or the services of marketing research firms, it has other affordable options.

They are as follows:

• It can engage students and professors to design and carry out marketing research projects in their favor. This is the most cost-effective way of marketing research activities, and even small companies may afford it.
• The other option is to use online information services where business information may be collected at a meager cost. There are many online services available nowadays on the internet. Browsing the internet may help a company get much-needed information quickly and economically.
• Checking out competitors is another option that small companies may exploit nicely. A regular visit to competitors’ business premises may help the company get many important tips that may be utilized later.
• Taking help from Syndicated Service Research firms is another good option. This type of firm gathers different information on trade and consumers and offers them for sale to interested companies. Information may be gathered at a relatively low cost from syndicated research firms.
• Custom marketing research firms may be hired for some specific projects. This type of firm, if given responsibility, designs the study, conducts it, and reports to the clients on findings. But, it is interesting to note that the study results become the property of the appointing firm.
• Specialty-line marketing research firms may also be hired to get some specialized research services. One of the example of such firms is a field interviewing service firm. This type of firm only provides field interviewers.

Types of Marketing Research

All marketing research activities are not the same and are different in many respects. They may differ in objectives, research design, covered area, depth, data analysis method , presentation, etc.

Research activities may be classified as exploratory, aimed at a specific problem, or used to provide routine feedback. Now let us look at each of them in the following section.

Exploratory Research

Exploratory research is conducted when the problem is generally known, but its nature and causes are not or partially known.

For example, if a company experiences no change in sales even after aggressive promotion, it may conduct exploratory research in this situation.

Because the problem is known here, but its nature and causes are unidentified. What is the problem here?

The problem is sales have not increased despite aggressive sales promotion activities .

Specific Research

This is another type of research. When a problem has been defined, a different type of information input is needed to enable management to make decisions concerning alternative ways of solving the problem.

Specific questions that might be posed include:

• What changes should be made in the marketing mix ?
• Is the product positioned properly?

Questions such as these lead to specific research. Specific research generally involves larger samples and is more costly than exploratory research.

While exploratory research aims to suggest hypotheses, specific research enables management to accept or reject hypotheses with a predetermined confidence level.

Routine Feedback

It attempts to continuously monitor certain development variables such as sales, market share, or consumer sentiment.

Firms with well-operating marketing information systems would receive such information through the marketing intelligence subsystem . Firms without such sophisticated means of conducting routine feedback research have two options.

The first is to utilize the marketing research department to gather and assess routine feedback. Companies without the necessary internal resources may avail themselves of commercial services offered by the different outside research organizations.

What is the primary purpose of marketing research?

Marketing research is the systematic and objective identification, collection, analysis, and dissemination of information about issues relating to marketing products and services to assist management in decision-making related to problems and opportunities in marketing.

How is marketing research different from market research?

Market research is specifically concerned with markets, while marketing research is concerned with marketing processes.

What are the two main categories of marketing research?

The two main categories of marketing research are Consumer marketing research and Business-to-business (B2B) marketing research.

What is the difference between secondary and primary data in research?

Secondary data are data that have already been collected for some other purpose, while primary data are collected by the researcher from the source specifically for the particular purpose of the study.

7 Steps of Marketing Research Process

Most marketing managers delegate the detailed design and implementation of research projects to specialists either within or outside their organizations.

The principal reason for such delegation is that most marketing managers do not have the time or the expertise to engage in market research activities. They must, to a greater or lesser extent, depend on the efforts of others.

Therefore, it is most important that managers know enough about the research process , design, and methods of implementing research to be effective in commissioning research and appraising the quality and cost-effectiveness of its results.

Because marketing research is an element vital in an MIS , it must be conducted systematically and unbiasedly. The information it generates is too important to be haphazardly collected, analyzed, and disseminated.

The methodology can be elaborate and comprehensive, depending on the significance of the problem or opportunity needing study.

Underlying any research study, then, is the need to obtain the best information possible, given environmental and company limitations (e.g., time and money).

But the more scientifically based, the more expensive and time-consuming the marketing research process will be.

Although there is always a risk of collecting and processing useless data, the seven-step research process described below and in the following exhibit will minimize these risks:

• Determine the needed information.
• Conduct a preliminary investigation.
• Weigh the costs and benefits of formal research.
• The research design-how data will be collected.
• Develop the questionnaire or other data collection forms.
• Conduct a formal study.
• Analyze the data and report the results.

Step-1: Determining the Needed Information/Problem Definition

The best research on the wrong study is as useless as conducting the worst research on the right study. If we fail to do a thorough job at this stage, no sophisticated research will save us.

Often, the rush for answers leads to research based on vaguely defined objectives and unspecified information needs. When this happens, decision-makers typically receive only part of the information they actually must have. The research tends to take longer and costs more to collect than is necessary.

The process begins with clearly defined objectives.

• What is the research supposed to accomplish?
• Why is a study going to be made?

Although research studies are conducted for various reasons, the most common ones determine if a problem or opportunity exists or obtain information pertinent to a problem or opportunity.

Whatever the reason, there must be a purpose involved – research is too costly to conduct for idle curiosity. When objectives are clearly defined, specific informational needs can be determined.

Step-2: Conduct a Preliminary Investigation

A preliminary investigation is necessary before any formal data collection is actually undertaken. This investigation tends to be informal, relatively inexpensive, and beneficial for three reasons.

First, the activities in step two define the objectives of the study and the informational needs.

Second, a preliminary investigation sometimes provides the decision-maker with enough information, making further study necessary.

Third, preliminary investigations help familiarize the researchers with the issues involved.

Researchers often are not experts in the fields they study, and they need to develop a feel for the problems or opportunities if they are to prepare and conduct a useful study.

Whatever the reasons, researchers frequently make preliminary investigations, using various sources to obtain the data they need.

The most likely sources used in this particular collection process are secondary data sources, interviews with people inside the firm, and observations of, or interviews with, people outside the firm.

Sources of data

Public institutions and private agencies collect a tremendous amount of data that can frequently prove useful to a researcher. Data that have already been collected for some other purpose are known as secondary data.

That which is collected by the researcher from the source for the particular purpose of the study is called primary data. Quite obviously, secondary data are usually easier, quicker, and cheaper to obtain than primary data.

Unfortunately, secondary data are not always readily available and desirable. Data may be free or for sale, handily indexed and in a useable form, or buried within volumes of other extraneous data.

The accuracy of secondary data frequently cannot be assessed. Information on how they were collected might not be available, so the researcher will never really know if they were obtained systematically and unbiasedly.

Despite these problems, secondary data are still generally preferred because of time, trouble, and cost savings. Among the more important and useful sources of secondary data are:

Internal Company Records

The company’s own records are one of the best sources. Data on sales volume, market shares, competitive tactics, etc., are nearly always maintained.

Government Documents

Certainly, the largest single source of secondary data is the government.

Marketing Research Firms

Several private businesses collect and analyze market data and sell them to other firms. Also, several firms known for their public opinion surveys can provide specialized types of market data.

Trade and Professional Associations

Local and national associations frequently collect and publish data about their particular trades and professions. Since these associations so closely match their industries, they are usually good sources of information.

Advertising Agencies and Media Firms

Advertising agencies, television stations, and large newspapers and radio stations often collect data on the market areas they serve. Researchers may take help from such data in the course of their research.

University Research Centers

Many of the larger universities have developed research bureaus providing published data useful to marketing researchers.

Published Sources

Various business and trade publications are accessible, inexpensive, and usually very timely.

The primary data can be obtained mainly from two sources. Now we shall mention these two sources/ways of collecting primary data:

Interviews with People Inside the Firm

Marketing researchers frequently turn to knowledgeable people within the firm during a preliminary investigation. Salespeople and sales managers, brand managers, senior marketing executives, and other top marketing and nonmarketing personnel have considerable experience and vast amounts of expertise.

Interviews with People Outside the Firm

Researchers prefer not to go outside the firm to conduct interviews unless they find it necessary. This process is more time-consuming and expensive, but these interviews can alert customers and competitors to problems and opportunities within the firm.

Despite these drawbacks, present and potential customers, suppliers, and even competitors undoubtedly can provide valuable data for the preliminary investigation. The most frequently used methods to collect these data are informal interviews and observation.

Informal interviews are more popular because they are simpler. They are used like interviews conducted with people inside the firm to obtain various people’s attitudes and opinions. The other method, observation, will be discussed later in this lesson.

Step-3: Weigh the Costs and Benefits of Formal Research

Very few issues are destined to be the subject of formal data collection. The researcher must determine whether further research is necessary or justified.

Step two may yield enough information for the executive to make the decisions without more formal research.

When enough information is not available, the researcher must determine whether the added study’s benefits would justify the costs.

A formal study’s costs must be determined, including data collection, data analysis , data interpretation, and report preparation and presentation. If the researcher believes that decision-makers could use additional information, the value of better information must be estimated.

Admittedly, the process of weighing the costs and benefits is somewhat subjective. It depends heavily on the estimates of the executive and researcher.

Step-4: Develop the Research Design

Once it has been decided that a formal research study is needed, detailed plans can be developed.

Among the most important questions are the following;

• How will the data be collected?
• How will respondents be selected? How many respondents will data be collected from?

Answers to these questions form the research design – the formal plans for the conduct of the study.

How will data be collected?

The initial decision in the development of a research design is the choice of a data collection method . Researchers usually use the survey, observational, or experimental method. Each approach has unique strengths and weaknesses.

Survey Method

Here researcher gathers data from only a portion of all the people it would be appropriate to collect data from. Those included in the survey are known as the sample, and the entire group is called the population.

Three specific techniques are used to collect data – personal, telephone, and mail interviews. Personal interviews involve a direct interface between the researcher and the interviewee or respondent.

Telephone interviews are another technique providing direct interaction between the researcher and the respondent, although telephone contact is only vocal.

Although rapport is harder to build over the telephone, it is still better than a mail survey. It also tends to be fairly inexpensive to administer since no travel is involved, and even long-distance calls are relatively cheap compared to personal interviews .

Finally, the telephone survey has the special advantage of speed, making it most appropriate when short.

Mail surveys are also popular in business research . Researchers send respondents printed questionnaires to complete and return within a specified period of time.

This technique is very efficient when respondents are dispersed geographically, as in a national survey.

Observation Method

This method allows the researcher to watch the actions (or listen to the words) of people or events to obtain the desired data. Normally, this is done within the people’s own environment without their knowledge.

Trained observers are needed here to ensure that the data is collected accurately and that people’s actions are properly interpreted. Additionally, the events they monitor have to occur with sufficient frequency to make this method feasible.

Finally, there are some ethical considerations for monitoring people without their knowledge or consent.

Experimental Method

Historically, this method has been used mostly in the natural sciences and not in business. With this method, the researcher tries to determine causes and effect relationships. By controlling some variables and varying others, the results can be measured and relationships identified.

Sample Size Determination

Deciding on sample size is one of the more important issues in the research design.

Although a census – interviewing all population members – is always preferable from an accurate viewpoint, it is usually not feasible. The costs involved and the difficulty in reaching everybody are just too great. Executives and researchers must trade accuracy for cost savings.

Most nonresearchers mistakenly believe that the sample size depends on the size of the sample population. Actually, the main determinant of sample size is how the sample population varies on the issues under study. The more they vary, the greater the sample size needed to obtain accurate data.

There are several formulas researchers use to determine sample size. One of the simplest is:

Sample Selection

Once the sample size has been determined, the researcher can plan for the sample selection.

This is an especially important element in the research design since the people selected might significantly impact the research results. The researcher’s objective is to make the sample just like the sample population in terms of its mean, median, and mode.

However, it is tough to obtain a sample that is a perfect miniature of the sample population.

The researcher has to select a sample that is as close as possible, given time and cost limitations. The researcher must decide between probability or nonprobability sampling plans as a method in selecting the sample.

Probability Samples

In a probability sampling plan , chance determines whether an individual member of the population is included or excluded from the sample.

The basic probability sampling plan is known as the simple random sample . Here, each sample population member has a known and equal chance of being included in the sample.

This plan is called simple, but it is not always so.

In fact, researchers frequently find it very difficult or expensive to obtain a full list of the population from where the sample is drawn. To reduce some of the problems associated with a simple random sample , an area cluster sample is often used, where a population is grouped into smaller units (clusters).

Then, some of those units are selected in a purely random manner. Finally, some of the members of the selected units are also chosen in a purely random fashion.

Although both the simple random and area cluster sampling plans are commonly used, neither can assure the researcher that the sample selected will represent the population.

To maximize the likelihood of obtaining a representative sample, a stratified sampling plan should be used.

In a stratified sampling plan, the population is grouped based on characteristics relevant to the study. Based on the size of each group, specified numbers will be randomly selected from each.

Nonprobability Samples

Although probability samples can be more exact because they eliminate interviewer bias in selecting respondents, they frequently are either too costly or impossible to use.

In those instances, researchers turn to nonprobability sampling plans, where they or others select the final sample instead of it being done on a random-chance basis.

The easiest nonprobability sampling plan for a researcher to use is a convenience sample. The researcher may choose people closest to each other or a group gathered in one place. No consideration is given to whether the sample group reflects the entire sample population.

To refine this method, a researcher will sometimes use a judgment sample, choosing respondents who are thought to match the population.

The most sophisticated nonprobability plan is the quota sample, similar to the stratified sample. The researcher identifies the population’s relevant characteristics and tries to select a roughly proportional sample.

If, for example, it is known that 51 percent of the population are men, the researcher would make sure that 51 percent of the sample selected are men.

Step-5: Develop the Questionnaire or Other Data Form

Although not all marketing research involves surveys, much of it does. Accordingly, the process of survey research will be described here. Developing a good data collection instrument or questionnaire is one of the more difficult tasks.

There are many different types of questionnaires . Initially, the researcher must decide whether to use one that is structured or unstructured.

If a personal or telephone interview is used, the most common is the structured questionnaire, where every question is worded and sequenced, and the interviewer does not depart from it at all. No other questions can be asked, nor different sequences be used.

An unstructured questionnaire contains a limited number of questions allowing the interviewer to vary the wording after the sequence or probe for more data based on the respondent’s answers.

The advantage is that the additional questions may obtain some valuable data.

Now we shall present some of the important issues in this regard;

Question Design

Each question must be carefully prepared, whether it is in a structured or unstructured questionnaire.

Most importantly, questions must be appropriately formed and worded for the specific data being sought. The researcher can use open-ended, dichotomous choice, or multiple-choice questions.

Open-ended questions allow the respondent to answer in their own words so that exact data can be collected. Dichotomous choice questions limit respondents to two choices – yes or no, agree or disagree, etc.

Multiple-choice questions force respondents to select one of several pre-established answers.

Question Sequencing

A questionnaire is not simply an assortment of questions that happened to be grouped. If they are improperly ordered, respondents may not answer any of the questions or not answer them accurately.

The questions are interrelated but must be sequenced logically to flow together, assisting the respondent in answering correctly and truthfully.

In general, questions should be ordered in the following manner :

• from easy to difficult
• from general to specific
• from insensitive to sensitive (or confidential)
• in groups by topical area
• with demographic questions toward the end

Questionnaire Design

A questionnaire consists of four parts: the introduction, the set of instructions to the interviewer and respondent, the set of questions, and the closing.

The introduction is especially important because it helps the interviewer gain rapport with the respondent. It also gives the respondent some general information on what the study is about and why it is being conducted.

Inexperienced researchers often ignore instructions . Interviewers and respondents need to know how the interview will proceed and how responses are recorded on the questionnaire.

The questions were discussed earlier, but a courteous closing is called for in deference to the respondent’s cooperation after the questions.

The physical layout is a final consideration in the questionnaire design. Proper use of white space, quality printing, and paper are all important.

Location and spaces for responses to the questions are also a concern and should be arranged to simplify transferring the data to punch cards or tape.

Step-6: Conduct the Formal Study

The formal study is a three-phase process.

• First, the questionnaire must be pre-tested to ensure that it is defect-free.
• Second, trained interviewers are needed to collect the data properly.
• Finally, the formal study can be conducted, but only after the first two phases have been completed.

Even the most experienced researcher pretests the questionnaire before using it in a formal study.

Omitting an important question, wording a question ambiguously, or making some other mistake is very easy. As a safeguard, the questionnaire is tested on a relatively small group of people.

When the questionnaire has been finalized, the interviewers – if they are using a personal or telephone survey – must be familiarized with the questionnaire and the overall study.

Interviewers need to know the type of people they will meet and the questionnaire they will use.

Finally, the beginning and end dates for the study must be established and adhered to.

Step-7: Analyze the Data and Report the Results

Once the data has been collected, the researcher can begin making an analysis. For relatively large studies, the data will be transferred from the questionnaires directly into a computer or recorded on punch cards or tape.

With small studies, it is common for the data to be tallied by hand, although this method is becoming less frequent.

The particular analysis conducted on the data depends on the study’s objectives.

The analysis will most often begin with a simple tabulation of the mean, median, mode, and frequencies. Although this is certainly the least sophisticated step, it frequently provides valuable information.

If a probability sampling plan has been used, further analysis through some of the higher-level statistical tests can be conducted, such as regression analysis, chi-square, correlation analysis, and analysis of variance.

Most of the quantitative analyses have been computerized to complete the actual computations quickly and easily.

Before the information obtained from the data analysis is sent to an executive, it is usually translated into a more useful form for decision­making purposes. The value of the entire project depends on how well the executive understands and uses the results.

Reports are usually prepared to describe the purpose, methodology, limitations, analysis, and study findings. Many executives demand the full report and an “Executive Summary” capsulizing the study in one or two pages.

Final Words

From time to time, marketers may be required to undertake marketing research to collect information on the market.

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Marketing Research: Meaning, Definitions, Components, Scope, Features, Importance, Advantages, Limitations

• Post author: Anuj Kumar
• Post published: 23 August 2022
• Post category: Marketing Management
• Post comments: 0 Comments

Table of Contents

• 1 What is Marketing Research?
• 2 Definition of Marketing Research
• 3.1 Market Research
• 3.2 Product Research
• 3.3 Advertising Research
• 3.4 Motivation Research
• 3.5 Sales Research
• 4.1 Syndicate Service
• 4.2 Marketing Information System (MKIS)
• 4.3 Decision Support System
• 4.4 Market Research Projects
• 5.1 Systematic and Continuous Process
• 5.2 Wide in Scope Application
• 5.3 Emphasizes Accurate Data Collection and Critical Analysis
• 5.4 Offers Benefits to Sponsoring Company and Consumer
• 5.5 Commercial Equivalent of Military Intelligence
• 5.6 Device for Managerial Decisions
• 5.7 Applied Type of Research
• 5.8 Reduces the Gap between the Producers and Consumer
• 5.9 Not an Accurate Science
• 5.10 Apply Different Methods
• 5.11 Dynamic Character
• 6.1 Planning and Execution of Marketing Plan
• 6.2 Quick and Correct Decision-Making
• 6.3 Effective Solutions to Marketing Problems
• 6.4 Huge Spending on MR
• 7.1 Indicates Current Market Trends
• 7.2 Pinpoints Deficiencies in Marketing Policies
• 7.3 Explains Customer Resistance
• 7.4 Suggests Sales Promotion Techniques
• 7.5 Guidance to Marketing Executives
• 7.6 Selection and Training of Sales Force
• 7.7 Facilitates Business Expansion
• 7.8 Facilitates Appraisal of Marketing Policies
• 7.9 Suggests Marketing Opportunities
• 7.10 Facilitates Inventory Study
• 7.11 Provides Marketing Information
• 7.12 Suggests Distribution Channels
• 7.13 Creates Progressive Outlook
• 7.14 Social Significance
• 8.1 Offers Suggestions and not Decisions
• 8.2 Fails to Predict Accurately
• 8.3 Cannot Study all Marketing Problems
• 8.4 Resistance to Research by Marketing Executives
• 8.5 Time-Consuming Activity
• 8.6 Costly/Expensive Activity
• 8.7 Dearth of Qualified Staff
• 8.8 Complexity of Subject
• 8.9 Uncertainty of Conclusions
• 8.10 Limitations of Data Used
• 8.11 Limited Practical Utility
• 8.12 Miscellaneous Limitations
• 9.1 What is the meaning of marketing research?
• 9.2 What is the definition of marketing research?
• 9.3 What are the components of marketing research?
• 9.4 What are the scopes of marketing research?
• 9.5 What are the features of marketing research?
• 9.6 What is the importance of marketing research?
• 9.7 What are the advantages of marketing research?
• 9.8 What are the limitations of marketing research?

What is Marketing Research?

Marketing research can be defined as the process of gathering recording and analyzing the data related to certain products and services . This need for market research is derived from the concept that only by understanding the needs and wants of the target audience and by effectively meeting them, you will be able to achieve the organizational goals and surpass the competition in the specific market.

The process of gathering, analyzing and interpreting information about a market and about the past, present, and potential customers for the product or service.

Market Research is any organized effort to gather information about target markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research , however, expert practitioners may wish to draw a distinction in that marketing research is concerned especially with marketing processes while market research is concerned specifically with markets.

Marketing research does not make decisions and it does not guarantee success”. Marketing managers may seek advice from marketing research specialists, and indeed it is important that research reports should specify alternative courses of action and the probability of success, where possible, of these alternatives.

However, it is the marketing manager who makes the final marketing decision and not the researcher. The second observation, that marketing research does not guarantee success, is simply a recognition of the environment within which marketing takes place.

Definition of Marketing Research

These are the following simple and understandable definitions of marketing research given by the authors:

Marketing research is a systematic objective and exhaustive search for and study of the facts relevant to any problem in the field of marketing. Marketing research is a part of the marketing information system and a key to the implementation of the marketing concept. It is usually designed to aid planning and often involves the evaluation of previous marketing efforts.

Components of Marketing Research

The objective of marketing research is to provide management with relevant, accurate, reliable, valid, and current information. The competitive marketing environment and the ever-increasing costs attributed to poor decision-making require that marketing research provide sound information.

Sound decisions are not based on gut feeling, intuition, or even pure judgment. The following are the major components of marketing research explained below:

Market Research

Product research, advertising research, motivation research, sales research.

Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically with marketing processes, while market research is concerned specifically with markets.

Market Research is the key factor to getting an advantage over competitors. Market research provides important information to identify and analyze the market need, market size, and competition.

This looks at what products can be produced with available technology, and what new product innovations near-future technology can develop (see new product development ). Developing and designing great products are keys to success in business.

Anything less than an excellent product strategy can be destructive to a firm. Top companies focus on a few products and concentrate on maintaining a high level of quality for those products to maximize the potential for success.

Advertising research is a specialized type of marketing research conducted to improve the efficiency of advertising. According to MarketConscious.com, “It may focus on a specific ad or campaign or may be directed at a more general understanding of how advertising works or how consumers use the information in advertising. It can entail a variety of research approaches, including psychological, sociological, economic, and other perspectives.”

It is a specialized type of marketing research conducted to improve the efficacy of advertising. Copy testing, also known as “pre-testing,” is a form of customized research that predicts the in-market performance of an ad before it airs, by analyzing audience levels of attention, brand linkage, motivation, entertainment, and communication, as well as breaking down the ad’s flow of attention and flow of emotion. Pre-testing is also used on ads still in rough type.

The research is used to investigate the psychological reasons why individuals buy specific types of merchandise, or why they respond to specific advertising appeals, to determine the base of brand choices and product preferences. Motivation research is Qualitative research designed to probe the consumer’s subconscious and discover deeply rooted motives for purchasing a product.

Motives: Something that compels or drives a consumer to take a particular action. Motivation research is also used to investigate the psychological reasons why individuals buy specific types of merchandise, or why they respond to specific advertising appeals, to determine the base of brand choices and product preferences.

Sales research is geared toward discovering certain data which is required to make additional sales to a company’s existing customers. A Sales Research Specialist is someone who has the expertise to find, evaluate, analyze, organize and package suspect, prospect, and customer data into useful intelligence a sales force can act on immediately.

Sales research enables salespeople to do what they do best, which is selling, instead of spending their time trying to find who is looking to buy. The process of sales research can also have other benefits over and above generating sales such as reducing costs.

For example, the identification of contact name and address changes reduces a company’s sales and marketing communications costs by eliminating phone calls and mailings to contacts who are no longer employed or who have changed positions.

Scope of Marketing Research

Marketing Research includes all the activities that enable organizations to obtain market information. Market researcher needs to make a decision about their environment, marketing mix , and present or potential customer. Marketing research plays an important role in the planning, implementing, and evaluation of the marketing management process. The Marketing Manager makes use of four main sources of decision making .

Following is the scope of marketing research :

Syndicate Service

Marketing information system (mkis), decision support system, market research projects.

A marketing research firms produce and sell these scheduled reports. The report contains valuable information. E.g. Survey of Indian Industry, Chambers of Commerce and Industry.

This is an internal activity where standardized reports are generated on regular basis or it is generated on demand also. E.g. Sales Reports, inventory amounts, production schedules, and also purchased information. We can track the sales performance and the changing taste of consumers also through MKIS.

DSS is the interactive system in the company. It permits the decision maker to interact directly with data through a PC to answer specific questions. The difference between MKIS and DSS is that while the former only provides information on the basis of which decision is taken, the latter provides answers or decisions appropriate to a situation.

It is done to find out specific problems in the market. It is done by the employee of the company or outsourced to external agencies.

Features of Marketing Research

These are the main features of marketing research :

Systematic and Continuous Process

Wide in scope application, emphasizes accurate data collection and critical analysis, offers benefits to sponsoring company and consumer, commercial equivalent of military intelligence, device for managerial decisions, applied type of research, reduces the gap between the producers and consumer, not an accurate science, apply different methods, dynamic character.

Marketing research is a continuous process. One type of research is not adequate to resolve all marketing problems. Similarly, new research projects will have to be undertaken to solve new marketing problems and challenges.

A marketing company faces new marketing problems from time to time and for facing them marketing research activities need to be conducted on regular basis. A marketing company has to conduct marketing research regularly for its survival and growth in the present dynamic marketing environment.

Marketing research is wide in scope as it deals with all aspects of marketing of goods and services. Introduction of new products, identification of potential markets, selection of appropriate selling techniques, study of market competition, the introduction of suitable advertising strategy, and sales promotion measures are some areas covered by Marketing research.

In marketing research , required data should be collected objectively and accurately. The data collected must be reliable. It should be analyzed in a systematic manner. This will provide a comprehensive picture of the situation and possible solutions.

Marketing research is useful to the sponsoring company. It raises the turnover and profit of the company. It also raises the competitive capacity and creates goodwill in the market. It enables a company to introduce consumer-oriented marketing policies. The consumer also gets agreeable goods and more satisfaction due to marketing research activities.

Marketing research is a commercial intelligence activity. It is similar to military intelligence where a systematic study is made before taking any military action marketing research acts as the intelligence tool of marketing management.

Marketing research acts as a tool in the hands of management for identifying and analyzing marketing problems and finding out solutions to them. It is an aid to decision-making. It suggests possible solutions for the consideration and selection by managers. Marketing research is an aid to Judgement and never a substitute for it.

Marketing research is applied knowledge. It is also called ‘decisional’ research as it provides specific alternative solutions to deal with a specific marketing problem. It studies specific marketing problems and suggests alternative solutions and possible ones.

Marketing research is an essential supplement to modern competitive marketing. It is useful for understanding the needs and expectations of consumers. It reduces the gap between producers and consumers and adjusts the marketing activities to suit the needs of consumers.

Marketing research is both science and art. It collects information and studies marketing problems in a scientific manner. The information collected is also applied to real-life problems. However, marketing research is not an exact science.

It only suggests possible solutions and not the exact solution to the marketing manager for consideration and selection. At present, Marketing research is treated as a professional activity. We have professional research agencies dealing with the marketing problem of their clients on a commission basis.

Marketing research can be conducted by using different methods. Data can be collected through surveys or by other methods like observation methods or experimentation methods. Even computers and the internet are used for data collection. The researcher has to decide the method suitable for his research project .

Marketing research is dynamic in nature. Its scope is fast expanding along with the new developments in the field of marketing.

In addition, development in other subjects such as economics, statistics, computer science, sociology, psychology, cultural anthropology , and behavioral sciences also bring corresponding changes in the field of marketing research. This suggests that marketing research is a dynamic and progressive subject.

Importance of Marketing Research

Marketing research is fast growing in its importance due to increasing competition, fast-moving technological developments, and changing consumer needs, expectations and attitudes. The importance of marketing research is universally accepted. The status of marketing research in business management is identical to the position of the brain in the human body.

The following points suggest the importance of marketing research :

Planning and Execution of Marketing Plan

Quick and correct decision-making, effective solutions to marketing problems, huge spending on mr.

A business unit can plan and execute all activities right from manufacturing to marketing with reasonable accuracy and confidence due to the guidelines available through marketing research .

Marketing research facilitates quick and correct decision-making by marketing managers. It enables management to take quick and correct marketing decisions.

Marketing research provides effective solutions to marketing problems. Marketing research is the radiology and pathology of marketing operations of the business. It diagnoses the business ailments and suggests measures to remove them. Marketing researcher acts like business doctor and prescribes treatment for business elements.

Large companies spend crores (1 Crore = 10 million) of rupees on marketing research activities. New techniques and methods are used in the conduct of research activities in an accurate manner. This suggests the growing importance of marketing research.

Advantages of Marketing Research

These are the advantages of marketing research explained below:

Indicates Current Market Trends

Pinpoints deficiencies in marketing policies, explains customer resistance, suggests sales promotion techniques, guidance to marketing executives, selection and training of sales force, facilitates business expansion, facilitates appraisal of marketing policies, suggests marketing opportunities, facilitates inventory study, provides marketing information, suggests distribution channels, creates progressive outlook, social significance.

Marketing research keeps the business unit in touch with the latest market trends and offers guidance for facing a market situation with confidence. It facilitates production as per consumer demand and preferences.

Marketing research pinpoints the deficiencies as regards products, pricing , promotion, etc. It gives proper guidance regarding different aspects of marketing. They include product development, branding , packaging, and advertising.

Marketing research is useful for finding out customer resistance to the company’s products. Suitable remedial measures are also suggested by the researcher to deal with the situation. This makes the products agreeable to the consumers.

Marketing research enables a manufacturer to introduce appropriate sales promotion techniques, select the most convenient channel of distribution, suitable pricing policy for the products, and provision of discounts and concessions to dealers. It facilitates sales promotion.

Marketing research offers information and guidance to marketing executives while framing marketing policies. Continuous research enables a company to face adverse marketing situations boldly. It acts as insurance against possible changes in the market environment.

Marketing research is useful for the selection and training of staff in the sales Organisation. It suggests the incentives which should be offered for motivation of employees concerned with marketing.

Marketing research enables a business unit to grow and expand its activities. It creates goodwill in the market and also enables a business unit to earn high profits through consumer-oriented marketing policies and programs.

Research activities enable marketing executives to appraise the present marketing policies in the fight for research findings. Suitable adjustments in the policies are also possible as per the suggestions made.

Marketing research suggests new marketing opportunities and the manner in which they can be exploited fully. It identifies existing and emerging market opportunities.

Marketing research is useful for the evaluation of a company’s inventory policies and also for the introduction of more efficient ways of managing inventories including finished goods and raw materials.

Marketing research provides information on various aspects of marketing. It suggests the relative strengths and weaknesses of the company. On the basis of such information, marketing executives find it easy to frame policies for the future period. Marketing research provides information, guidance, and alternative solutions to marketing problems.

Marketing research can be used to study the effectiveness of existing channels of distribution and the need of making suitable changes in the distribution system.

Marketing research generates a progressive and dynamic outlook throughout the business Organisation. It promotes systematic thinking and a sense of professionalization within the company. It also creates enthusiasm among executives concerned with marketing. This brings success and stability to the whole business unit.

Marketing research is of paramount importance from a social angle. It acts as a means by which the ultimate consumer literally becomes king of the marketplace.

Limitations of Marketing Research

These are some points of limitations of marketing research :

Offers Suggestions and not Decisions

Fails to predict accurately, cannot study all marketing problems, resistance to research by marketing executives, time-consuming activity, costly/expensive activity, dearth of qualified staff, complexity of subject, uncertainty of conclusions, limitations of data used, limited practical utility, miscellaneous limitations.

Marketing research is not a substitute for the decision-making process. Ready-made decisions on marketing problems are not provided by the researcher. Marketing research does not solve any marketing problems directly. It only aids management in the decision-making and problem-solving process.

In marketing research, efforts are made to predict the possible future situation. For this, certain research studies are undertaken. However, the predictions arrived at may not be perfect. The future is always uncertain and an exact prediction about the future is just not possible through marketing research.

Marketing research cannot study all marketing problems, particularly where it is difficult to collect relevant data. Similarly, the research study is not possible where value judgments are involved. Thus, all marketing problems are not researchable and all research problems are not answerable. Marketing research is not a ‘panacea’.

Researchers study marketing problems and offer guidance to marketing executives in their decision-making process. However, some executives are reluctant to use the solutions suggested by the researchers. They feel that such use will act as a threat to their personal status. Marketing executives also feel that researchers give solutions that are academic in character and lack practical utility.

Marketing research is a time-consuming activity. The research work takes a longer period for completion and the findings when available may prove to be outdated. Even data collected very soon become old due to the fast-changing market environment.

Marketing research activity is costly as research work requires the services of experts. Advanced training in economics, computer technology, sociology, etc. is also necessary on the part of the research staff. Even giving the responsibility for research work to an advertising agency or to a management consultant is costly.

For a scientific marketing research, professional marketing researchers with proper qualifications, experience, and maturity are required. Research work is likely to be incomplete /unreliable in the absence of such expert staff.

Marketing research fails to give complete and correct guidance to the management on marketing issues. This is because Marketing research is not an exact science. It is concerned with the study of human behavior which is always difficult to predict. As a result, the conclusions drawn and recommendations made are not cent percent correct.

The consumer is the focal point in marketing research. However, consumers’ buying motives are difficult to judge precisely and accurately. This brings some sort of uncertainty to the conclusions drawn from the marketing research.

The marketing research process solely depends on the data collected and used for analyzing the marketing problem, drawing conclusions, and making recommendations. However, the whole process will come in danger if the data collected are inadequate and unreliable.

Marketing research is mainly an academic exercise. Researchers take more interest in research work rather than in supplying information and guidance to marketing managers in the decision-making process. Many research reports are rather bulky and unintelligible. This brings down the practical utility of marketing research.

Problems developed due to changing marketing environment cannot be solved quickly through MR. A research report may be bulky, technically worded, and difficult. Its execution is difficult at lower levels.

The limitations of marketing research (noted above) do not suggest that it is a redundant activity. It only suggests that the marketing research activity should be conducted with proper care and caution. This will make research activity meaningful and result-oriented.

FAQ Related to Marketing Research

What is the meaning of marketing research.

Marketing research is the process or set of processes that links the producers, customers, and end users to the marketer through information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.

What is the definition of marketing research?

MR is the systematic and objective search for and analysis of information relevant to the identification and solution of any problem in the field of marketing. By Green and Tull

What are the components of marketing research?

These are the major components of marketing research explained below: 1. Market Research 2. Product Research 3. Advertising Research 4. Motivation Research 5. Sales Research.

What are the scopes of marketing research?

Scope of marketing research are given below: 1. Syndicate Service 2. Marketing Information System (MKIS) 3. Decision Support System 4. Market Research Projects.

What are the features of marketing research?

Features of Marketing Research: 1. Systematic and Continuous Process 2. Wide in Scope Application 3. Emphasizes Accurate Data Collection and Critical Analysis 4. Offers Benefits to Sponsoring Company and Consumer 5. Commercial Equivalent of Military Intelligence 6. Device for Managerial Decisions 7. Applied Type of Research 8. Reduces the Gap between the Producers and Consumer 9. Not an Accurate Science 10. Apply Different Methods 11. Dynamic Character.

What is the importance of marketing research?

The following points of the importance of marketing research: 1. Planning and Execution of Marketing Plan 2. Quick and Correct Decision-Making 3. Effective Solutions to Marketing Problems 4. Huge Spending on MR.

What are the advantages of marketing research?

Advantages of marketing research are given below: 1. Indicates Current Market Trends 2. Pinpoints Deficiencies in Marketing Policies 3. Explains Customer Resistance 4. Suggests Sales Promotion Techniques 5. Guidance to Marketing Executives 6. Selection and Training of Sales Force 7. Facilitates Business Expansion 8. Facilitates Appraisal of Marketing Policies 9. Suggests Marketing Opportunities 10. Facilitates Inventory Study.

What are the limitations of marketing research?

Limitations of Marketing research: 1. Offers Suggestions and not Decisions 2. Fails to Predict Accurately 3. Cannot Study all Marketing Problems 4. Resistance to Research by Marketing Executives 5. Time-Consuming Activity 6. Costly/Expensive Activity 7. Dearth of Qualified Staff 8. Complexity of Subject 9. Uncertainty of Conclusions 10. Limitations of Data Used 11. Limited Practical Utility 12. Miscellaneous Limitations.

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The Impact of Technology in Market Research: What’s Changed and What’s to Come

The impact of technology in market research: what’s changed and what’s to come, the impact of technology in market research.

The rapid evolution of technology has impacted nearly every aspect of our lives, and that’s especially true for the market research industry. While some tried-and-true methods of collecting data about customers and the marketplace persist, new tools and understandings are shaping the way a new generation of market research professionals conduct business.

Online market research, for example, is influencing our collective concept of traditional market research. When we factor in the massive amount of data that’s found online and in all of our digital trails, insights about customers are now accessible at a more granular level.

What’s in it for you? Big data means a big impact, when your market research includes information shared, organized, and contextualized on the new digital frontier.

Then, there’s “secondary research”—technology market research gathered from work that others have collected. That’s easier to find nowadays, too.

Ready to make the most of technology market research? The market research industry is already moving at full speed ahead.

Fortunately, Creatives On Call can provide any organization with an appropriate market research process professional. No matter the objective, we’ve got a skilled market research ambassador standing by.

Market Research Technology Has Changed

The way we conduct market research has been forever changed, in large part because of innovative new market research tools. Data collection has become more precise, efficient, and targeted.

When we consider how technology market research itself has changed, we notice that analytics are increasing at an exponential rate. Artificial intelligence (AI) and other tools are changing the way we work and do business.

Companies must not wait before investing in AI or risk being left behind. According to IDC, worldwide AI spending will top $500 billion in 2023, with software as the dominant investment area. The ever-expanding breadth of no-code and cloud service AI offerings exponentially increases AI accessibility. With the technology infrastructure, data science and creation simplified, businesses with great ideas can produce AI-powered products and services that enhance customer interactions. — Newsweek, 12/12/22

Social Media

Social media is everywhere—and it’s a big part of contemporary market research. On Facebook, LinkedIn, or other social media platforms, users share deep insights about their behavior: shopping trends, hobbies, and work. That information is being collected as part of a broader tech-driven market research strategy. It is honest data, and yesterday’s marketing professionals would have done anything for access to what we have today. Social media also impacts market research by serving as a convenient platform for surveys or collective discussion.

It’s no surprise that technology market research is a booming industry. Creatives On Call can connect you with experienced professionals—from conducting the research to utilizing a project manager who understands the material, to a graphic designer or copywriter skilled in data visualization to optimize the work—so you can capitalize on the research.

Paying Attention to Customer Behavior

Effective market research allows us to harness the power of big data for even more insightful solutions. Audiences that were once elusive or difficult to observe have come within reach, all thanks to tech-driven market research. And a bigger audience means more opportunity.

Informed by this customer behavior, technology market research allows you to make game-changing decisions based on observations and patterns. Creatives On Call can provide the surveys and conduct sales enablement training, from content to learning development courses based on the findings. All of this will then allow customers to better implement their findings.

Today, we know that, without a doubt, automation and artificial intelligence are extremely important to conducting thorough market research. 

In fact, automation is one of the most important market research technology tools utilized all over the world. Market researchers have learned to manage data collection with the assistance of automated tools to save time and money. Communication has benefited from automation, and millions of technical processes have become more efficient. As market research teams conduct technology market research around the world, it helps to employ automation in order to gain more efficient insights.

Survey research has forever been changed by automation, which makes the process of pulling insight and sorting data easier than ever. This isn’t just big business; automation can benefit everybody.

Heavy Reliance on Remote Virtual Collaborations

The pandemic accelerated our collective embrace of remote and virtual collaborations. It’s led to a monumental shift in where and how we work, and it’s also made its mark on market research.

Take focus groups, for example. Old-school survey research had to be collected in person, or with a wasteful paper trail; compare that to virtual chat rooms, which can provide an avenue for immediate insights from across the world. Traditional research methods have their place, but the world is quickly changing. 

Creatives On Call can implement a true learning and development program to focus on curated virtual surveys, chats, and various other methods of collecting data. We can then implement a data visualization expert or professionals to foster ongoing insights.

Tapping into a Large and Diverse Audience

Advanced analytics allow us to conduct market research for valuable insights by tapping into larger and more diverse audiences. After all, marketing research–specifically, survey research–has always benefited from a larger pool of respondents.

Online surveys can quickly deploy around the world in a matter of minutes. The value of including perspectives from different socioeconomic groups and cultural perspectives is crucial, more so every day.

Creating More Meaningful Buyer Personas

One of the most important steps in creating a successful market research strategy is to implement buyer personas for the sake of data collection. They allow you to understand not only customers, but also the trends that impact their behavior.

We make the most of technology market research when big data is brought down to a conversational level. By using technology in market research, we’re able to craft more realistic buyer personas, and ultimately create campaigns that make a bigger splash. Creatives On Call can take this from the survey implementation all the way through to creating the presentation deck, copywriting, and visual deliverables that enable the leadership team to focus on what’s important.

Market Research Technology: What to Expect in the Coming Years?

Technology will always evolve, and our ability to utilize it for more efficient market research will only raise the stakes for the market research process. Here’s a look at some of the trending tech you’ll want to be on top of.

Tools Like AR and VR Will Become Mainstream

You guessed it—market research will be impacted big-time by society’s growing embrace of augmented reality (AR) and virtual reality (VR). As we conduct technology market research for more informed and detailed market research reports, each bit of big data we collect will contribute to our larger market research objectives. Immersive customer experiences like AR and VR will yield even greater collections of data, and there are many developers with the ability to do this.

Extensive Use of Voice Assistants

The world of voice assistants–and how they apply to the research industry–is often misunderstood.

Have an “Alexa” device in your home? Consider the ways a device like Alexa might be able to streamline your workflow. When properly programmed, voice assistants can deliver or transfer data analytics reports and other market research documents with a simple “ask.”

That’s a game-changer for how we ready ourselves to review data collection and tech-driven market research. With AI speakers only growing in popularity, voice assistants are on track to have an increasingly prolific role in market research. Consumers are becoming less wary of voice assistants in the home, and are ready to trust them with business assistance.

Agility in Action

When we think of agility, we tend to consider athletic or gymnastic talent, demonstrated by highly trained individuals who can efficiently perform physical activities.

Agile market research, in turn, is understood as an ability to quickly and efficiently conduct research and draw conclusions from its market research online communities. Technology market research is data-centric, and without the proper agility, things can become pretty unwieldy fairly quickly.

Agility will become even more important in the coming years, with automation and machine learning technologies allowing efficiency to grow by leaps and bounds. Fortunately, experts are standing by to ensure your team has the agility it needs to create actionable insights. Contact Creatives On Call today to learn more !

The world of market research has always centered on data, and traditional market research methods are evolving as we continue to embrace and understand big data. Data collection will never be the same (that’s a good thing)!

As we conduct market research with tech-driven market research solutions in mind, we need to make the most of our new data-centric world. Information is everywhere, and market research can be dialed in with new, innovative tools.

Let’s remember: Market research will always be vital to our understanding of customers and the marketplace, but when we employ technological advances, the job becomes much easier.

Technology is certainly already guiding market research professionals around the world. Are you up to speed? Contact Creatives On Call today to get in the loop.

Back to Insights

Other Insights Capabilities

Further learning.

• Importance and Benefits of Data Visualization
• What is Corporate Training? Everything You Need to Know
• Graphic Design vs. Digital Design - What's the difference
• 10 Key Benefits of Market Research
• Onboarding vs. Training: What's the Difference
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• What is Content Creation in Digital Marketing
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• 10 Must Try Marketing Strategies for Food Industry
• The Power of Collaboration: Generative AI and Human Writers Unlocking New Possibilities
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• 12 Marketing Strategies for the Beverage Industry
• 10 Technical Writing Tips Every Writer Needs to Know
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• Strategic Steps: Marketing Plan for Hospitality Services
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• Exploring Social Media Marketing in Hospitality Industry
• Boosting Hospitality Success: UI/UX Consulting Services
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• Boost Sales With Effective Marketing Strategies in Retail
• Achieve Success With Strategic Retail UI Design
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• Case Study: Navigating an organizational rebrand and achieving renewed growth
• Case Study: Strengthening Cybersecurity Positioning Through Content Development

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BUS101: Introduction to Business

Marketing research process.

To accurately arrive at a target market, businesses must research who their typical customer is. Read each section to learn about conducting marketing research. Try to summarize these lessons and write a brief reflection of how you would research if you were the owner of an upscale retail clothing store in a major metropolitan city with several competitors.

Learning Objectives

• Outline objectives and problems as part of the marketing research process
• Describe the formulation of research design within the context of the marketing research process
• Recognize the basis for developing a specific approach to the objective or problem to be solved through the marketing research process
• Construct the rationale of fieldwork or data collection from a marketing research process perspective
• Summarize the characteristics of data preparation and methodology of data analysis
• Identify the characteristics of preparing, presenting, and documenting the results of marketing research
• The marketing research process involves six steps: 1: problem definition, 2: develop an approach to the problem, 3: research design formulation, 4: data collection, 5: data preparation and analysis, and 6: report preparation and presentation.
• The first step in any marketing research study is to define the problem while taking into account the purpose of the study, the relevant background information, what information is needed, and how it will be used in decision making. This stage involves discussion with the decision-makers, interviews with industry experts, analysis of secondary data, and, perhaps, some qualitative research, such as focus groups.
• Marketers can employ three types of objectives their research: exploratory research, descriptive research, and causal research.
• The marketing process details the procedures to obtain this information. It aims to design a study that will test the hypotheses of interest, determine possible answers to the research questions, and provide the information needed for decision making.
• Researchers need to choose the type of data they want to obtain from the respondents, such as via a survey or experiment and design a questionnaire and sampling plan to choose the most appropriate respondents for their study.
• Research design involves secondary data analysis; qualitative research; quantitative data methods (survey, observation, and experimentation); information needed; measurement and scaling procedures; questionnaire design; sampling process and sample size; and a plan of data analysis.
• Data collection involves a field force or staff that operates in the field, as in the case of personal interviewing, from an office by telephone, or through the mail (traditional mail and mail panel surveys with pre-recruited households).
• Proper selection, training, supervision, and evaluation of the field force helps minimize data-collection errors. Data is carefully edited, coded, transcribed, and verified so it can be properly analyzed during this phase of the research process. Verification ensures that the data from the original questionnaires have been accurately transcribed, while data analysis gives meaning to the data that have been collected.
• Bias must be avoided when interpreting data because only the results (not personal opinion) should be communicated.
• The entire project should be documented in a written report that addresses the specific research questions identified; describes the approach, research design, data collection, and data analysis procedures adopted; and presents the results and the major findings.
• The findings should be presented in a comprehensible format so they can be readily used in the decision-making process. An oral presentation to management, using tables, charts, and graphs, will enhance clarity and impact.
• Business Intelligence – Information that pertains to the history, current status, or future projections of a business organization.
• Data – Values of qualitative or quantitative variables belonging to a set of items; Data are typically the results of measurements and can be visualized using graphs or images
• Data Mining – A technique for searching large-scale databases for patterns; used mainly to find previously unknown correlations between variables that may be commercially useful.
• Ethnographic research – Information regarding cultural phenomena.
• Executive Summary – A short section or document that summarizes a longer report or proposal so readers can quickly learn about a larger work without having to read it in its entirety.
• Mall Intercept – A survey where respondents are intercepted in shopping malls to administer a survey on the spot or invite them to a research facility to conduct the interview.
• Market Research – The systematic collection and evaluation of data regarding customers' preferences for actual and potential products and services.
• Marketing Research – A research process that links the consumers, customers, and public to the marketer through information. This information is used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.
• Objective – Not influenced by irrational emotions or prejudices.
• Qualitative Research – A method of inquiry employed in many different academic disciplines, traditionally in the social sciences but also in market research and further contexts.
• Scientific Method – A body of techniques for acquiring new knowledge or correcting and integrating previous knowledge. To be termed scientific, a method of inquiry must be based on empirical and measurable evidence subject to specific principles of reasoning.
• Secondary Data – Information collected by someone other than the user of the data.
• Secondary Research – A research process that Involves the summary, collation, and synthesis of existing research rather than primary research, where data is collected from subjects or experiments.
• Survey Research – A research process that obtains information from a predetermined set of questions given to a sample, used to assess thoughts, opinions, and feelings.
• Systematic – Carried out using a planned, ordered procedure.

Marketing Research Is Systematic and Objective:

• Systematic planning is required at all stages of the marketing research process. The procedures followed at each stage are methodologically sound, well documented, and, as much as possible, planned in advance. Marketing research uses the scientific method in that data are collected and analyzed to test prior notions or hypotheses.
• Marketing research aims to provide accurate information that reflects a true state of affairs and, thus, should be conducted impartially. While research is always influenced by the researcher's research philosophy, it should be free from the personal or political biases of the researcher or the management.

Overview of the Marketing Research Process:

Step 1: problem definition, step 2: development of an approach to the problem, step 3: research design formulation.

• Step 4: Field Work or Data Collection

Step 5: Data Preparation and Analysis

Step 6: report preparation and presentation.

Define the problem and research objectives. The first step in any marketing research study is to define the problem while taking into account the purpose of the study, the relevant background information, what information is needed, and how it will be used in decision making. This stage involves discussion with the decision-makers, interviews with industry experts, analysis of secondary data, and, perhaps, some qualitative research, such as focus groups. There are three types of objectives that can be deployed in marketing research:

The first stage of the marketing research process involves defining the problem.

1. Exploratory research

• Used to better define a problem or scout opportunities.
• In-depth interviews and discussion groups are commonly used.

2. Descriptive research

• Used to assess a situation in the marketplace (that is, the potential for a specific product or consumer attitudes).
• Methods include personal interviews and surveys.

3. Causal research

• Used for testing cause and effect relationships.
• Typically through estimation.

Step two includes formulating an objective or theoretical framework, analytical models, research questions, hypotheses, and identifying characteristics or factors that can influence the research design. This process is guided by discussions with management and industry experts, case studies and simulations, analysis of secondary data, qualitative research, and pragmatic considerations.

Planning involves the creation and maintenance of a plan.

A research design is a framework or blueprint for conducting the marketing research project. It details the procedures necessary for obtaining the required information, and its purpose is to design a study that will test the hypotheses of interest, determine possible answers to the research questions, and provide the information needed for decision making. Decisions are also made regarding what data should be obtained from the respondents (such as by conducting a survey or an experiment). A questionnaire and sampling plan also are designed in order to select the most appropriate respondents for the study. The following steps are involved in formulating a research design:

• Secondary data analysis (based on secondary research)
• Qualitative research
• Methods of collecting quantitative data (survey, observation, and experimentation)
• Definition of the information needed
• Measurement and scaling procedures
• Questionnaire design
• Sampling process and sample size
• Plan of data analysis

Secondary data analysis is one of the steps involved in formulating a Research Design

Developing the research plan for collecting information:

The research plan outlines sources of existing data and spells out the specific research approaches, contact methods, sampling plans, and instruments that researchers will use to gather data. This plan includes a written proposal that outlines the management problem, research objectives, information required, how the results will help management decisions, and the budget allocated for the research.

Step 4: Fieldwork or Data Collection

Fieldwork, or data collection, involves a field force or staff that operates either in the field, as in the case of personal interviewing (focus group, in-home, mall intercept, or computer-assisted personal interviewing), from an office by telephone (telephone or computer-assisted telephone interviewing/CATI), or through the mail (traditional mail and mail panel surveys with pre-recruited households). Proper selection, training, supervision, and evaluation of the field force helps minimize data-collection errors. In marketing research, an example of data collection is when a consumer goods company hires a market research company to conduct in-home ethnographies and in-store shop-alongs in an effort to collect primary research data.

Soldiers and family members participated in USAG-RC-sponsored focus group s

Marketing Research is Systematic and Objective

• Systematic planning is required at all stages of the marketing research process, especially in the data collection step. The procedures followed at each stage are methodologically sound, well documented, and, as much as possible, planned in advance. Marketing research uses the scientific method in that data are collected and analyzed to test prior notions or hypotheses.
• Marketing research aims to provide accurate information that reflects a true state of affairs and thus, should be conducted impartially. While research is always influenced by the researcher's philosophy, it should be free from the personal or political biases of the researcher or the management. This is especially important in the data collection phase. The data collected will be analyzed and used to make marketing decisions. Hence, it is vital that the data collection process be free of as much bias as possible.

Primary Versus Secondary Research

There are many sources of information a marketer can use when collecting data. The Nielson Ratings is an audience measurement system that provides data on audience size and the composition of television markets in the United States. The Gallup Polls conduct public opinion polls with its results published daily in the form of data-driven news. The U.S Census Bureau, directed by the U.S. Government is the principal agency that is responsible for producing data about American people and the economy. Population, housing, and demographic characteristics are gathered to help plan and define transportation systems, police and fire precinct, election districts, and schools.

Analysis of data is a process of inspecting, cleaning, transforming, and modeling data with the goal of highlighting useful information, suggesting conclusions, and supporting decision making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names in different business, science, and social science domains. Data mining is a particular data analysis technique that focuses on modeling and knowledge discovery for predictive rather than purely descriptive purposes. Marketers use databases to extract applicable information that identifies customer patterns, characteristics, and behaviors.

Notes on data analysis process and testing parameters .

Business intelligence covers data analysis that relies heavily on aggregation and focusing on business information. In statistical applications, some people divide data analysis into descriptive statistics, exploratory data analysis (EDA), and confirmatory data analysis (CDA). EDA focuses on discovering new features in the data and CDA focuses on confirming or falsifying existing hypotheses. Predictive analytics focuses on the application of statistical or structural models for predictive forecasting or classification. Text analytics applies statistical, linguistic, and structural techniques to extract and classify information from textual sources, a species of unstructured data. All are varieties of data analysis.

During this phase of the research process, data is carefully edited, coded, transcribed, and verified in order for it to be properly analyzed. Statistical market research tools are used. The validity of the results is also assessed to confirm how well the data measures what it is supposed to measure. Oftentimes, the research team will arrange a debriefing session with the client to review highlights from the data and brainstorm potential ideas on how the findings can be implemented. This typically happens when a client hires a market research company and they want to remain thoroughly involved in the research process.

Researchers can set up a debriefing meeting to review the analysis

Types of data analysis outputs: heat map, bar plots, scatter plots .

Helpful tips to keep in mind during data analysis:

• Communicate the results.
• Try to avoid bias when interpreting data.
• Just because results fail to confirm original hypotheses, does not mean the research results are useless.

During the Report Preparation and Presentation step, the entire project should be documented in a written report that addresses the specific research questions identified; describes the approach, the research design, data collection, and data analysis procedures adopted; and presents the results and the major findings. This permanent document is also helpful because it can be easily referenced by others who may not have been part of the research.

The findings should be presented in a comprehensible format so that they can be readily used in the decision-making process. In addition, an oral presentation should be made to management using tables, figures, and graphs to enhance clarity and impact.

Someone giving a presentation using visual elements

A successful presentation will include but is not limited to the following elements:

• Final conclusions (based on the insights gathered from data collected) that effectively meet the initial objectives of the research
• Recommendations about how to apply the research
• Charts, graphs, and visual elements that help showcase important facts and make the presentation easily digestible and memorable

A formal research report presentation typically includes the following:

• Table of Contents
• Executive Summary
• Research Objectives
• Research Methodology
• Highlights of Fieldwork Data Collected
• Appendix (including Respondent Screening Instrument and Questionnaire)
• Findings/Insights
• Recommendations/Implications and Action Plan

• Accountancy
• Business Studies
• Commercial Law
• Organisational Behaviour
• Human Resource Management
• Entrepreneurship
• Types of Marketing Strategy
• Marketing Intelligence : Concept, Significance, Types and Uses
• Brand Recall : Meaning, Importance, Strategies and Factors
• Rebranding : Meaning, Reason, Importance, and Examples
• Porter's Five Forces : Meaning, Example, Uses and Analysis
• Relationship Marketing : Meaning, Importance, Strategies and Examples
• Email Marketing: Types, How to do it, Benefits and Drawbacks
• Blog Marketing : Elements, Components, Tips & Benefits
• Sales : Meaning, Definition, Importance and Types
• Content Marketing : Types, Importance & Strategies
• SERVQUAL Model: Dimensions, Questionnaire, Application, Pros and Cons
• What is Social Media Marketing (SMM) and How it Works?
• Integrated Marketing Communication (IMC) : Meaning, Importance, Tools and Examples
• Classified Advertising : Meaning, Working, Types, Advantages and Disadvantages
• Mobile Marketing : Meaning, Types, Importance and Examples
• Viral Marketing: Advantages, Disadvantages, Examples and FAQs
• Retail Marketing : Meaning, Importance, Types and Strategies
• Customer Delight : Meaning, Importance and Examples
• Problems and Challenges to International Marketing

Marketing Research: Meaning, Scope and Uses

What is marketing research.

Marketing Research is defined as a study that consists of multiple techniques used by companies in order to gain more information about their target audience and the current market. Market research helps to gain information regarding current trends, profits, losses, economic and social factors affecting the market, and market strategies used. By utilising the gained information the companies and producers improve the overall quality of their products, their advertisements, and other marketing strategies.

Marketing Research helps companies to know the requirements of their customers and develop strategies that will help them reach out to their customers easily. As the market grows for a particular product, there increases the involvement of parties other than producers and consumers. This decreases the direct gap between both. Therefore the use of marketing research becomes necessary as it helps to get the required information.

Scope of Marketing Research

1. Research on Market: Research on Market studies about current market trends and products. It does a comparison between both the current market and the potential market. It analyses areas such as:

• Size of market
• Analysis of Market Shares
• Selecting the Target Market
• Analysing the need or demand for new products
• Setting sales territories and quotes
• Assessing current market trends and projecting future market trends

2. Research on Advertising: Advertisements are considered one of the major parts of marketing. Higher budgets are used to make effective advertisements. The research on advertising studies areas such as:

• Selection of media that will be used for advertising, such as videos, images, articles, blogs, podcasts, etc.
• Selection of advertising channels
• Studying promotion elements
• Positive and negative effects of advertisement in society and market
• Advertising role at different stages of product life cycle
• Government restrictions on advertising
• Studying competitors’ advertising strategies and practices

3. Research on Pricing: The price of the product is the major aspect considered by consumers while purchasing the product. Therefore proper research is made regarding the pricing. Having relevant pricing is important to attract more customers. The research on Pricing makes an analysis on below points:

• Studying pricing policies
• Studying offers and discounts
• Comparing the quality and price
• Use of various strategies for setting prices
• Pricing strategies on different stages of the product life cycle
• New product and pricing policies

4. Research on Distribution: In today’s Marketing world, distribution plays a vital role in the success of the product. The selection of a proper distribution channel is important. Many distribution channels are being used between producers and consumers. Research on distribution includes the below analysis:

• Studying various distribution channels
• Selecting from direct and indirect distribution channels
• Studying online marketing
• Studying factors and strategies used for distribution
• Study on physical distribution and ancillary services
• Legal issues related to distributions

5. Research on Product: Research on Products involves detailing with the products and services. The research covers all the issues and details that are related to the product. Understanding the use and quality of the product is essential before it is launched in the market. Therefore, research on products is important. It covers the study of below points:

• Characteristics of product
• Uses of product
• Studying other competitors available in market
• Studying about problems of consumers.
• Studying the lifecycle of products, packaging, sale, etc.
• Determining the uses of existing products
• Finding out the need for new product development
• Product life cycle
• Consumer Adoption Study

6. Research on Sales Methods and Policies: Research on Sales Methods and Policies consists of a study that is related to sales of the product. For sales, the distribution of products is important. The strategies used for sales improve the overall business and its profit. This study covers below points:

• Studying sales methods that are currently being used
• Analysis of sales records
• Management of sales force with parameters such as size, control, etc.
• Studying the sales department
• Study of advertisements, incoming customer traffic, etc.
• Study on activity and effectiveness of salesmen

7. Research on Business Environment and Corporate Responsibility: Research on the Business Environment and Corporate Responsibility consists of a study that is related to marketing problems. This study is conducted for big businesses and analyses the data. It helps the business to work on its business strategies and work accordingly. This research involves analysis on:

• Availability of product-related resources
• Long-term and short-term goals of the business
• Social, financial, and cultural factors that affect the business
• Income, economic growth, and Policies for business
• Impacts of Acts and Legal Provisions
• Technological Aspects

Uses of Marketing Research

Marketing research is used by many businesses and applications. Below are some uses of Marketing Research:

1. Analysing the current market and its situation: Marketing research helps a company to analyse the current market scenario. This analysis consists of identifying the current market trends, economic condition, profit and loss, pricing, distribution, etc. This analysis helps to confirm the strategies and methods that are used.

2. Studying the company’s strengths and weaknesses and utilising these strengths to gain advantages in the business: Through marketing research, a business can verify its strengths and weaknesses with the help of a SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis. This helps businesses to work more on their strengths, reduce their weakness and improve accordingly.

3. Continuously diagnosing the threats that can occur in business: Continuously identifying the threats that can occur is an important task for the growth of a business. By analysing the threats that can occur, a business can take all the preventive measures that are needed and prevent them from loss.

4. Identifying the strengths and strategies used by competitors: Marketing research enables companies to gain insights into their competitors’ strengths, weaknesses, and strategies. Understanding the competitive landscape helps businesses position themselves effectively and devise strategies that can exploit competitors’ weaknesses or differentiate from their strengths.

5. Studying market opportunities and utilising them at the right time: Marketing research helps to analyse the available opportunities in the market. It helps to analyse trends, the needs of customers, and their segments.

6. Studying the marketing patterns of customers: It is important to study the purchasing patterns of customers; their habits, choices, motivations, and preferences they use. This analysis helps the company to enhance its products according to the need of customers and change its marketing strategies and techniques.

7. Analysis of other competitors present in the market: Marketing research helps to study other competitors that are present in the market. This analysis helps to improve strategies used by the company in order to play a leading role in the market, change their approaches, use statistics, and then perform accordingly.

8. Studying the overall progress done by the company: Studying the overall progress helps to analyse the profitable strategies and their techniques. By measuring some parameters such as brand awareness, satisfaction of customers, profits, and marketing a business can improve by working according to the study. 

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Market Research pp 1–9 Cite as

Introduction to Market Research

• Erik Mooi 4 ,
• Marko Sarstedt 5 &
• Irma Mooi-Reci 6  
• First Online: 02 November 2017

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Part of the book series: Springer Texts in Business and Economics ((STBE))

Market research is key to understanding markets and requires the systematic gathering and interpreting of information about individuals and organizations. This will give you an essential understanding of your customers’ needs, a head start on your competitors, allow you to spot potential problems, and future growth. Drawing on real examples, we show the value of market research, describe its main purposes, and explain how market research differs from marketing research. We explain what makes, or breaks, a successful market research study and describe when market research is most needed. We also provide a description of the different types of market research providers.

• American Marketing Association (AMA)
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• Segment specialists
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Roberts et al. ( 2014 ) and Hauser ( 2017 ) discuss the impact of marketing science tools on marketing practice.

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Chair of Marketing, Otto-von-Guericke-University, Magdeburg, Sachsen-Anhalt, Germany

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School of Social and Political Sciences, University of Melbourne, Parkville, Victoria, Australia

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Mooi, E., Sarstedt, M., Mooi-Reci, I. (2018). Introduction to Market Research. In: Market Research. Springer Texts in Business and Economics. Springer, Singapore. https://doi.org/10.1007/978-981-10-5218-7_1

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What Is Marketing Research?

April 6, 2020 • DJ Team

Marketing research refers to the process by which an organization gathers information about its ideal customer and larger market in order to inform the organization’s go-to-market strategy. This research might include gathering data from current or former customers, consumers in your target market, or even marketing activities of competitors.

(Automate your marketing research with Consumer Insights .)

Maybe you’re already doing something in this area but you’re wondering if you’re doing it well. Whether you’re looking for a market research definition or just have questions like “what is market research used for?” or “why is marketing research important?”, you’ve come to the right place.

How Does Market Research Help a Business?

Marketing research helps a business by giving it insights into what customers say they like and dislike, what they say they want. These insights come in both quantitative and qualitative forms and can play a massive role in empowering a business’s decision-making.

Marketers play a significant role in both gathering and interpreting the data used in marketing research. In most organizations, the marketing department (sometimes in conjunction with sales) has a pulse on the customer base. Marketers are well positioned to actually reach the people needed to perform market research.

Generally speaking, marketing also has the skills needed to interpret the data that comes in through market research. Companies of any size will have a trained researcher or analyst that assists with preparing marketing research, keeping results rational rather than reactionary.

Market Research Methods

All that is well and good, but if you’re still wondering “how do you do market research?” we’ve got you covered.

The role of research in marketing is to derive marketing insights from real data. We love marketing and marketers—truly we do—but relying on marketers’ good sense and one-off customer interactions is a reactionary, even dangerous, way to operate a business. It’s much safer to operate with real market research data backing up your decisions.

You may also be wondering, what are the elements of marketing research? While the marketing research process will look a little different for every organization, there are some marketing research steps that are common in most scenarios. To build an effective marketing research study, most marketers will follow some combination of the following market research steps or categories:

• Qualitative marketing research explores a topic from a descriptive or conceptual lens. With this type of marketing research, participants describe from their perspective how something is or behaves, rather than putting numbers to it.
• Quantitative marketing research is a purely numbers-driven approach. This type of research gathers data from responses that can be counted or quantified.
• Ethnographic marketing research is any effort that attempts to gauge the marketing initiative or product in a natural environment or with anthropology as its basis.
• Business to business (B2B) marketing research is any of the above or other methods or steps applied in a B2B context. This category has a new set of challenges: getting any responses at all can be difficult, and getting honest ones can in some situations be challenging.

Types of Marketing Research

So what is an example of marketing research? It depends on what type you’re looking for. Within the broader category of marketing research, there are several different types. The following list is just a sampling:

• Analysis of marketing performance
• Brand awareness research
• Brand association research
• Demand estimation
• Marketing effectiveness
• Mystery shopping
• Sales forecasting
• Trendspotting

We’ll look at a couple marketing research examples illustrating some of these types.

Successful market research examples are those that gather real customer data that’s both representative and realistic and that result in improvements for the company. These improvements could be increased sales, increased profits, improved customer relationships or a host of other objectives.

For example, you might look at trends in search traffic to to understand how your competitors are bringing consumers to their websites over time, and therefore, what search terms consumers are using to find the products they like.

When analyzing this marketing data, you can find key insights to inform your own paid search marketing strategy - such as what keywords to bid on or how to structure your ad campaigns.

One easy way to conduct marketing research is to take a look into the analytics platforms your team may be using to track marketing performance. When you leverage cross-channel analytics , you are able to evaluate the customer journey holistically and understand how customers prefer to interact with your brand across their entire path to purchase.

You can also begin to estimate demand, discover consumer trends, and gather marketing ideas by following your competitors with market intelligence platforms . These platforms show you what types of marketing initiatives are working for others in your market, and based on this data, even show specific tactics you should use to bring in new customers.

To illustrate several of the above categories, consider the humble consumer survey. In today’s internet economy, surveys are everywhere, both free and paid. Surveys can measure a number of these elements, including brand awareness research (“which of the following brands have you heard of?”) and brand association research (“when you think of this topic, which brands come to mind?”).

To some degree, surveys can cover other marketing research types like sales forecasting and demand estimation as well.

You’ve also likely seen marketing effectiveness research campaigns in progress. Have you ever gotten a survey-style ad on YouTube or Facebook asking which brands you recall seeing an advertisement for? If so, you’ve seen a marketing effectiveness campaign in the wild.

Create a Market Research Report Using DemandJump

If you want to do market research without some of the nitty gritty work, use DemandJump. We offer insight reports that tell you what your target audience cares about and what they’re asking about. From there, we will give you a list of keywords and questions to use in your content. These keywords will help you increase your chances of landing a page-one spot on Google. Do that, and your prospective customers are more likely to find your content and visit your webpage. Save time by using our platform. If you have questions or could use help implementing a marketing strategy, get a demo to see how DemandJump can help your business.

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3.7: The Value of marketing research

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It is important to point out that it is not always necessary to conduct research before attempting to solve a problem in marketing management. The manager may feel that he already knows enough to make a good decision. In a few instances, there may be no choice among alternatives and hence no decision to make. It is rather pointless to study a problem if there is only one possible solution. But in most business situations, the manager must make a choice among two or more courses of action. This is where fact-finding enters in to help make the choice.

Even if a manager would like more information in order to make a decision, it is not always wise for him or her to conduct the research that would be required. One reason is that the time involved may be too great. Another more compelling reason is that the cost of the research may exceed its contribution. In principle, it is easy to understand how such a cost test might be applied. If the cost of conducting the research is less than its contribution to the improvement of the decision, the research should be carried out. If its cost is greater, it should not be conducted. The application of this principle in actual practice is somewhat more complex. Finally, good research should help integrate marketing with the other areas of the business.

➢ How can marketing research help managers create successful product lines and customer relationships?

➢ Most people conduct research when buying certain "big ticket" items like cars or computers. How do you conduct marketing research for these types of items?

➢ How has the Internet impacted consumers and their purchase decisions? What about the impact on companies?

Capsule 7: Review

1. [1] Sources : John W. Verity, "Coaxing Meaning out of Raw Data," Business Week , February 3, 1997, pp. 134-138; "Researchers Integrate Internet Tools in Their Work," R&D Magazine , June 2000, vol. 24, No.6, p. E13; "Smarter Kids. Com Chooses Quadstons–The Smartest Customer Data Mining Solution," Business Week , July 31, 2000.

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market research

Definition of market research

Examples of market research in a sentence.

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'market research.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

1920, in the meaning defined above

Dictionary Entries Near market research

market price

market-ripe

Cite this Entry

“Market research.” Merriam-Webster.com Dictionary , Merriam-Webster, https://www.merriam-webster.com/dictionary/market%20research. Accessed 11 Apr. 2024.

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CAPI, CATI, and CAWI Research Methods

Roxana elliott | apr. 20, 2021 | 4 min. read, what are capi, cati, and cawi.

Three common research methodologies are CAPI, CATI, and CAWI , which stand for Computer Assisted Personal Interviewing , Computer Assisted Telephone Interviewing , and Computer Assisted Web Interviewing . While these three methods have similar names and are often mentioned together, in practice they are very different methods, and each has unique characteristics which should be taken into account when deciding on a data collection method. Below we outline the major differences of CATI, CAPI, and CAWI, along with pros and cons of each method.

Computer Assisted Personal Interviewing (CAPI)

Because CAPI is an in-person research mode, it can reach anyone, even populations who do not have internet or phone access, which makes it a good solution for gathering data from low-income populations. However, CAPI requires interviewers to be trained in survey administration and for them to travel to each household they will interview. In emerging regions and rural areas where houses can be dispersed over a large area, this can make administering CAPI surveys time-consuming.

Pros of Computer Assisted Personal Interviewing:  

• Can reach any household or respondent, even those without internet or phone access
• Allows for interviewers to collect detailed data through follow-up questions and probing
• Improves on paper and pen survey administration by reducing the chance of interviewer error or data loss

Cons of Computer Assisted Personal Interviewing:  

• Requires interviewers to be recruited and trained in survey administration
• Can be time-consuming for interviewers to travel from household to household, especially in rural areas
• Can be costly due to the need for trained interviewers and the length of time it takes to collect data  

Computer Assisted Telephone Interviewing (CATI)

Computer Assisted Telephone Interviewing or CATI is a voice call interview method in which trained interviewers call respondents’ phone numbers, usually working from a central call center. CATI interviews are similar to CAPI interviews in that they are interviewer-administered, so interviewers can conduct similar probing and clarification of survey questions, and CATI software also allows interviewers to securely record responses and save data. CATI interviews support both qualitative and quantitative survey questions and can utilize audio aids as part of a questionnaire design.

Pros of Computer Assisted Telephone Interviewing:

• Securely stores data and enables simple survey administration through CATI software
• Reaches wide segments of the population without having to overcome logistical hurdles associated with in-person research
• Interviews can be administered at the respondent’s convenience by scheduling a call-back time

Cons of Computer Assisted Telephone Interviewing:

• May not reach the lowest-income populations who do not have access to a mobile phone or landline

Computer Assisted Web Interviewing (CAWI)

CAWI surveys are useful for gathering quick insights from large sample sizes as they do not require interviewers to be trained and can be distributed very widely, but they are limited to populations who have internet access and are comfortable using computers or internet-enabled phones or tablets. CAWI surveys are also self-administered, meaning you rely on the respondent to fill in a survey accurately without the guidance of an interviewer, and that questionnaires generally need to be shorter for respondents to complete them.    

Pros of Computer Assisted Web Interviewing

• Simple to set-up and administer to large sample sizes
• Do not require the hiring and training of interviewers
• Can be a fast and low-cost method of data collection

Cons of Computer Assisted Web Interviewing

• Only reach literate populations and those with access to the internet and a computer or mobile device
• Qualitative data collection can be more limited than with interviewer-administered modes
• Questionnaires should be shorter to encourage higher completion rates

Choosing between CAPI, CATI, and CAWI

As outlined above, there are significant differences between CAPI, CATI, and CAWI survey modes. Generally, if you are looking to get the most representative survey possible, CAPI and CATI are the best options, but CAWI can be useful for quickly gathering insights on a consumer population or in countries which have high levels of internet access. When choosing a research mode , you must take into account the population you are trying to reach, questionnaire length and complexity, budget, and timeline. Use GeoPoll’s interactive research mode picker to get a quick view of what modes may be feasible for the project you are working on.

Depending on the country you are looking to research in, some modes may be more feasible than others, and talking to a research expert can help you narrow down your mode options. In addition to the three research modes mentioned here, there are other options such as SMS and Interactive Voice Response (IVR) which some research firms, such as GeoPoll, offer in addition to CAPI, CATI, and CAWI.

To speak to the GeoPoll team about which research mode is right for you, please contact us today .

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• Tags computer assisted personal interviewing , computer assisted telephone interview , computer assisted web interviewing , mobile survey modes , Mobile Web

Office of the Vice President for Research

Four clas faculty researchers secure prestigious early career awards.

Continuing  an upward trend of University of Iowa faculty securing prestigious early-career grants, four investigators from the Departments of Physics and Astronomy and Computer Science have been awarded notable grant awards to advance their careers.

DeRoo, Hoadley advance space instrumentation with Nancy Grace Roman Technology Fellowships in Astrophysics for Early Career Researchers

Casey DeRoo and Keri Hoadley , both assistant professors in the Department of Physics and Astronomy, each received a Nancy Grace Roman Technology Fellowship in Astrophysics for Early Career Researchers. The NASA fellowship provides each researcher with $500,000 over two years to support their research in space-based instrumentation. 

Hoadley’s research is two-pronged. She will design and ultimately prototype a mirror-based vacuum ultraviolet polarizer, which will allow researchers to access polarized light from space below 120-nanometer wavelength. Polarizing light at such a low wavelength is crucial to building optics for NASA’s future Habitable World Observatory (HWO), the agency’s next flagship astrophysics mission after the Nancy Grace Roman Space Telescope. 

“Our vacuum ultraviolet polarizer project is meant to help set up our lab to propose to NASA for one or more follow-up technology programs, including adapting this polarizer for use in vacuum systems, duplicating it and measuring its efficiency to measure additional flavors of polarized UV light, quantifying the polarization effects introduced by UV optical components that may be used on HWO, and building an astronomical instrument to measure the polarization of UV from around massive stars and throughout star-forming regions,” said Hoadley.

In addition, Hoadley and her team will build a facility to align, calibrate, and integrate small space telescopes before flight, using a vacuum chamber and wavelengths of light typically only accessible in space, which could help the university win future small satellite and suborbital missions from NASA. 

DeRoo will work to advance diffraction gratings made with electron beams that pattern structures on a nanometer scale.   Like a prism, diffraction gratings spread out and direct light coming from stars and galaxies, allowing researchers to deduce things like the temperature, density, or composition of an astronomical object.

The fellowship will allow DeRoo to upgrade the university’s Raith

 Voyager tool, a specialized fabrication tool hosted by OVPR’s Materials Analysis, Testing and Fabrication (MATFab) facility.

“These upgrades will let us perform algorithmic patterning, which uses computer code to quickly generate the patterns to be manufactured,” DeRoo said. “This is a major innovation that should enable us to make more complex grating shapes as well as make gratings more quickly.” DeRoo added that the enhancements mean his team may be able to make diffraction gratings that allow space instrument designs that are distinctly different from those launched to date.

“For faculty who develop space-based instruments, the Nancy Grace Roman Technology Fellowship is on par with the prestige of an NSF CAREER or Department of Energy Early Career award,” said Mary Hall Reno, professor and department chair. “Our track record with the program elevates our status as a destination university for astrophysics and space physics missions.”

Uppu pursues building blocks quantum computing with NSF CAREER Award

Ravitej Uppu, assistant professor in the Department of Physics and Astronomy, received a 5-year NSF CAREER award of $550,000 to conduct research aimed at amplifying the power of quantum computing and making its application more practical. 

Uppu and his team will explore the properties of light-matter interactions at the level of a single photon interacting with a single molecule, enabling them to generate efficient and high-quality multiphoton entangled states of light. Multiphoton entangled states, in which photons become inextricably linked, are necessary for photons to serve as practical quantum interconnects, transmitting information between quantum computing units, akin to classical cluster computers. 

“ In our pursuit of secure communication, exploiting quantum properties of light is the final frontier,” said Uppu. “However, unavoidable losses that occur in optical fiber links between users can easily nullify the secure link. Our research on multiphoton entangled states is a key building block for implementing ‘quantum repeaters’ that can overcome this challenge.”

Jiang tackles real-world data issues with NSF CAREER Award

Peng Jiang, assistant professor in the Department of Computer Science, received an NSF CAREER Award that will provide $548,944 over five years to develop tools to support the use of sampling-based algorithms. 

Sampling-based algorithms reduce computing costs by processing only a random selection of a dataset, which has made them increasingly popular, but the method still faces limited efficiency. Jiang will develop a suite of tools that simplify the implementation of sampling-based algorithms and improve their efficacy across wide range of computing and big data applications.

“ A simple example of a real-world application is subgraph matching,” Jiang said. “For example, one might be interested in finding a group of people with certain connections in a social network. The use of sampling-based algorithms can significantly accelerate this process.”

In addition to providing undergraduate students the opportunity to engage with this research, Jiang also plans for the project to enhance projects in computer science courses.

Is it safe to look at a total solar eclipse? What to know about glasses, proper viewing

If you have your eyewear to take in monday's eclipse, here are some last-minute things to consider to ensure you're good to go..

The much-anticipated solar eclipse will finally enshroud thousands of miles of North America today in its long, narrow shadow. By now, those who plan to witness it should have their plans in place .

Travel has been completed. Schedules have been coordinated around the anticipated moment of totality. And proper eyewear is, of course, in your possession. Right?

We at USA TODAY have published no shortage of articles guiding you away from scam eclipse glasses and to the safest, most reliable options – some of which were even free. But if you need a last-minute refresher – or a crash course to catch you up on a topic you entirely missed – we're happy to oblige.

If you don't have your eclipse glasses by now, it may be too late. But some vendors, including Warby Parker , and even public libraries, have offered eclipse glasses giveaways , so be sure to check your local area before the historic event rolls into town.

And if you do have your eyewear to take in Monday's eclipse – the last one of these incredible astronomical events in North America for 20 years – here are some last-minute things to consider to ensure you're in good shape.

Solar eclipse 2024 live updates: See latest weather forecast, what time it hits your area

Can you go blind by looking at the solar eclipse?

Staring at the sun is  unlikely to completely blind you , but its powerful rays can still burn and  damage your retinas if you don't take proper safety precautions to view  solar eclipses .

That's why eyewear is recommended if you plan to look up at the sun Monday to witness the solar eclipse, which most of the country will be able to experience in some way.

In the face of the sun's powerful rays, regular sunglasses made of cheap plastic and polycarbonate material just aren't going to cut it. Astronomers and other experts instead emphasize that skygazers intent on viewing the upcoming total solar eclipse do so with  specialized eyewear  crafted to  protect their sensitive retinas  from permanent damage.

Even viewing any part of the bright sun through camera lenses, binoculars and telescopes without a specialized solar filter  could instantly cause severe eye injury , according to the American Astronomical Society.

Often made with a polyester film coated in aluminum, the glasses are highly specialized . Compared to regular sunglasses, proper eclipse glasses are 100,000 times darker to block nearly all visible, infrared and ultraviolet light and protect our sensitive retinas when looking skyward.

As another point of safety, don't look up while driving , please.

How to know when it's safe to view the eclipse without glasses

A  total solar eclipse  offers the unique opportunity for skygazers to  witness the spectacular astral display  with the naked eye – but only when the time is right.

Hundreds of cities in  13 states are along the path of totality  for the eclipse, which will move across North America from southwest to northeast . When the moon moves completely in front of the sun and blocks its light for a brief period of time, you'll know it's safe to fully take in the dazzling display.

That moment is what is called "totality," whereby uncharacteristic darkness falls and all but the sun's outermost layer known as its corona makes a rare appearance to us here on Earth,  according to NASA .

How to make sure your eclipse glasses aren't fake

In the rush to acquire  some coveted eclipse glasses  before April 8 , you may have inadvertently fallen victim to the  fakes and imitators proliferating online retailers .

While plenty of legitimate certified eyewear was widely available – and may still be – less-scrupulous manufacturers try all sorts of methods and tricks to get your attention and make you believe the product you're about to buy is the real deal.

For instance, many vendors began making the grand (and entirely made-up) claim that their products are endorsed by NASA.

As the space agency  reiterated to USA TODAY , NASA highly recommended that skygazers get a pair of certified eclipse glasses before the total solar eclipse  charts a 115-mile-wide path of totality  blanketing much of North America in  uncharacteristic darkness . But it does not approve  any particular brand of solar viewers, despite what many vendors may claim.

The responsibility of guiding American consumers to the safest eclipse glasses is largely left to the American Astronomical Society.

The organization maintains  a curated list of approved vendors  of solar eclipse glasses that it updated to give priority to North American manufacturers ahead of the total solar eclipse. Products you purchase that are listed on that site are guaranteed to be  in compliance with  the highest international safety standards.

Those standards are set by the International Organization for Standardization, which only vouches for solar eclipse glasses that are dark and strong enough to filter out a certain amount of the sun's harmful light.

The astronomical society also provides some  helpful tips  for how to spot counterfeit glasses.

No eclipse glasses? Welding lenses, pinhole projectors among alternative viewers

While certified solar eclipse glasses are the preferred method for viewing the eclipse, alternative methods do exist that don't necessarily sacrifice one's safety.

Many people, particularly blue-collar workers, may be tempted to turn to those welding lenses they have sitting in their workshop.

But beware: The most common welding goggles and helmets aren't typically strong enough to adequately withstand the sun's powerful rays and protect your vulnerable eyes.

Any welding lenses weaker than a Shade 12 filter – a number that indicates the level of protection offered – just aren't going to cut it when it comes to gazing upward in anticipation of the moon blocking all but the sun's outermost layer.

It's also not too late to buy some welding lenses, which Tractor Supply is promoting for sale at its 282 stores along the path of totality as a viable option for viewing the eclipse.

Another simple method is to create your own pinhole projector to project the sun onto a nearby surface. The American Astronomical Society offers helpful  instructions  to set them up.

And one final note: As you make your eclipse-viewing plans,  these interactive maps  should help you chart the time and duration for when totality would occur in cities along the path.

Eric Lagatta covers breaking and trending news for USA TODAY. Reach him at [email protected]