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Marketing Research

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Market research is a marketing tool that has the aim of collecting and analysing data from individuals, groups or businesses. This data is collected to help a business understand issues such as behaviour, buying trends and characteristics, opinions and attitudes.

There are two main ways to collect this kind of data:

• Primary research -- here the data is collected from an individual/business in person. So, for example, a market researcher who visits your home to ask you to fill in a survey will be conducting primary research.
• Secondary research -- here the data collected is collated from other sources. This is often also known as desk research.

Market research can also be spilt into different methodologies. There are two main types of market research here -- quantitative research and qualitative research.

• Quantitative research -- this type of research involves the analysis of research from a numerical or statistical point of view. So, for example, a survey might be sent out a large number of people asking them to rate a particular element of a business. The results can then be numerically calculated.
• Qualitative research -- this type of research is more about asking the opinions of the person/business that is being researched. Here, for example, the survey might ask them to say what they thought of the particular element or why they did/didn’t use it.

Market research can be conducted in various ways. The best known is perhaps the survey although other techniques such as focus groups, interviews and questionnaires can also be used.

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