Exploratory research follows and unstructured format and makes use of qualitative techniques, secondary research and experts opinions. For example, the marketer from the previous case can use books, syndicated research , case studies, focus groups, expert interviews and survey techniques to conduct exploratory research. Then the question arises why to do exploratory research in the first place? Well the answer is the core goal of exploratory research is to equip marketers with enough information to facilitate marketers plan a format research design correctly.
For example by conducting exploratory research the marketer can find out that the competition is using popular social media channels like Facebook, Twitter, LinkedIn and YouTube to reach target consumers effectively and successfully engaging customers with the brand directly.
Now with this information he can plan a formal research design to test his hypothesis. Thus descriptive research is used to explain, monitor and test hypotheses created by marketers to help them find accurate answers.
Due to this reason descriptive research is rigid, well structure and well planned and uses quantitative techniques like questionnaires, structured interviews, data analysis etc. For example, the marketer from previous case and use descriptive research to find out if he also starts using social media marketing techniques for promoting his products and services then:.
Causal research is used by marketers to find cause and effect relationship of variables. In this type of research, the marketer tries to understand the effects of manipulating independent variable on other dependent variable.
Causal research uses field and laboratory experimentation techniques to achieve its goals. This research is used by marketers mainly to predict and test hypotheses.
Think I have missed any major insights in this article? Get thee to the comments and let me know. One of the benefits of doing secondary market research is that it is mostly free and takes a lot less time. Some common examples of qualitative research work include doing face to face interviews, being part of focus groups, etc. Quantitative market research is a kind of market research work that is based on hard facts and statistical data rather than the feelings and opinions of the customers or consumers.
This type of research can prove useful both in terms of primary market research and secondary market research. Some of the common examples of quantitative research include exit surveys, questionnaires, on-site fieldwork and the shopping bag survey. In fact, another example of quantitative research includes researching of the previously existing financial reports, research papers.
This type of research comes out with a wide range of statistics and helps to find out the size of the market as well. The following are the five Primary market research techniques that are most commonly used and applied:.
One of the main ways used to conduct primary market research is through focus groups. This method involves getting a group of people in a room or a place and asking them insightful questions regarding the product, its development, their preferences, and feedback, etc.
These types of focus groups can be run or conducted at any location feasible for the company or business. These days, with advancements in technology and the internet, it is possible to conduct them virtually as well, through the method of video conferencing. But the main thing here is that the group of people brought together have something in common, for example, either they should belong to the same age group, the same gender and so on. This division of the group or the selection process must depend on the audience targeted or the product of service of the company.
Participants in such focus groups are then compensated by either free coupons, vouchers, gifts or money, etc. Focus groups fall under the qualitative research method and help businesses know a lot about customer or market trends. Another superb and highly effective way to conduct primary market research is through surveys and questionnaires.
One of the most common examples of this research method is the feedback form given to customers at the time of billing at a restaurant. Surveys are also conducted in the form of web questionnaires these days that enable businesses to collect a lot of feedback and then analyze it for further administration. There are two major observation techniques or research methods used in primary market research, and they are observation through interaction and communication with the subject and observation through no interaction and communication with the subject.
This form of research method comes under the quantitative primary research since through it; researchers evaluate or measure the behavior of the respondents or the users in general.
This is more of a personal approach in comparison to surveys and questionnaires, etc. This method of primary research involves scientific tests where hypotheses and variables, etc. This is a quantitative type of market research which may either be controlled out in the field or within controlled environments. In order to understand this form of research, here is an example that you can refer to: A food product company created 3 different food packaging styles and then sold the products to different consumers.
After a limited period of time, it analyzed the sales and came to a conclusion about the preferred packaging style or design. One may think of an in-depth interview to be a quantitative approach to primary market research, but this method, in fact, is a qualitative research that takes into consideration the kinds of choices and preferences a customer base has. Interviews, unlike focus groups, involve interaction between one moderator and one respondent and several types of modes and methods may be used to conduct them.
Interviews may not always be restricted to a set pattern of questions but can also be in the form of a conversation with the target customer base or audience. This kind of a research method helps to dig further into what the customer wants, and the answers can later be analyzed to come to a conclusion for the final product delivery.
Secondary market research is mainly based on collecting information from different sources and then coming to a conclusion. Opinions and attitudes can be recorded and questions can be clarified to the participant to get a more specific response. A skilled interviewer knows how to engage and persuade the respondent to participate and give more complete answers.
These questionnaires are analyzed to draw out the information required. Postal surveys are commonly used because they are cost-effective and efficient. Also, questions can be misinterpreted by the individual responding. Telephone surveys are another option. The questions are typically similar to the questionnaires sent in the mail, but the interviewer can guide the participant so that misunderstandings are limited and more information can be drawn out over the phone.
Observations are an interesting primary research method because participant behavior can often be very enlightening. Trained observers or cameras can record how participants behave in a certain situation, providing researchers with real evidence as to how a consumer responds, for example, to an organization's product or service.
Focus groups are another primary research method. In a focus group, a moderator leads a discussion about a particular subject.
The four types of primary market research By Samantha Garner | October 21, Primary market research is a great way to gather information about your small business’ product or service idea.
Types Of Market Research Techniques. Primary Market Research. Primary market research is a kind of market research which is done by the business or company itself with the objective of gathering information that can be used to improve the products, services, and functions. Primary market research is also known as field research since it is research done from scratch, without using any information that .
Market research generally involves two different types of research: primary and secondary. Primary research is research you conduct yourself (or hire someone to do for you.) It involves going directly to a source —usually customers and prospective customers in your target market — to ask questions and gather information. Groups of potential customers are brought together to discuss their feelings about a product or market. Focus groups are a good way of getting detailed information about customer tastes and preferences. Test marketing. This involves selling a new product in a small section of the market in order to assess customer reaction.
When conducting primary market research, you can gather two basic types of information: exploratory or specific. Exploratory research is open-ended, helps you define a specific problem, and usually involves detailed, unstructured interviews in which lengthy answers are . Primary market research and their types market research service market research company, market research service As the name market research suggests, a sort of research work is done in-depth to provide maximum of possible information to the consumer or the customer with the complete accuracy.