If you are interested in the field of marketing and want to dedicate yourself professionally to it, through the Master in Digital Marketing in Valencia you will be able to specialize in this area, developing skills and acquiring knowledge to apply in the business world.
Market research: What is it?
Market research is a scientific tool used tooverseas chinese in canada data collect, analyze and interpret data related to a company to improve decision-making regarding its strategy.
This type of research is usually carried out based on three objectives:
Administrative objectives : helps the company in the development of its activity through good organization and control of its resources.
Economic objectives : in monetary terms, it is essential to know the failure or success of the strategies carried out by the company when it puts a product or service on the market.
Social objectives : study the needs of the target audience thanks to the information obtained from each of them in this type of research, thus helping to improve and satisfy the customer at the time and in future purchases.
Types of market research
Below we indicate the types of market research that exist, each of which has a study objective.
Descriptive research : is responsible for investigating the characteristics of the population, that is, area and demographic profile.
Causal research : study of the relationship between the effects and causes of the different research variables.
Applied research : responsible for investigating and detecting faults and errors in a product or strategy.
Specific research : evaluates a specific social group regarding the consumption of a specific product or service at a specific time.
Experimental research : This is carried out when one wants to study the reactions of consumers to a product or service.
Motivational research : seeks to identify the “why” for purchasing a product or service, that is, what is the satisfactory element for which the purchase is made.
Research by interviews : face-to-face interaction with the consumer is carried out in order to learn about reactions and have close and personal contact.
Buyer persona research : studies what commercial audiences do according to their buyer profile.
Observational research : investigates and studies the way in which a company's audience interacts with the brand, products/services or website.
Usage research : investigates how and why a specific audience chooses a product, as well as the use they give to it.
Campaign research : studies the results of a previous marketing plan to evaluate the viability of a future campaign.
Brand research : communicating with customers to understand their perception of the brand and its products.
Satisfaction research : Analyzes consumer satisfaction with a product or service and their loyalty to the brand.
Competitor research : historically analyzes the sector and its competition to know what should be done in the industry.
Price research : Analyze the prices of similar products or services within the market to create competitive offers in relation to the potential client's economy.
Difference between market research and market study
Market research is the process of collecting information, classifying it, analyzing it and using it to make business decisions in relation to the business and marketing area. Once completed, detailed documents are created on the competition, sales, the market, as well as a social and economic context.
Market research is part of market research, that is, it is part of it. It focuses on answering specific questions, which is why there are so many types of market research.
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