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What are the types of market study research

In every company a marketing campaign is carried out and the types of market research with the aim of reducing risks by analyzing and collecting information as part of a business strategy. All kinds of sources are needed to collect the data, but …

The different types of market research

Nowadays, the possibility of resorting to different types of market research has been expanded, since with technological advance the possibilities abound and that is why companies find:

  1. The qualitative or exploratory research model: That leads to the beginning of the investigation and from it will allow decisions to be made. This type of research does not take a lot of money and it is also a short part of the process. It is done through tests or surveys, which will provide information on the economic situation and consumer preferences.
  2. Quantitative or conclusive research.: It continues to the previous one as a second step and will provide greater accuracy because the surveys are extended to a greater percentage of people and in this way concrete results are obtained.
  3. Field or primary research: This type of research requires a greater amount of economic resources because it is necessary to hire consulting companies so that you obtain data related to the competition and provide you with serious information about who their buyers are, the products they sell and at what value they sell them.
  4. Cabinet or secondary investigation: It is an investigation that is carried out to obtain public information and therefore allows access to anyone.
  5. Continuous investigation: It is the research that is carried out periodically within an equal geographical area with the aim of investigating the changes that have occurred over a period of time in terms of consumer preferences and the factors that influenced those changes.
  6. Punctual investigation: It is market research that covers and segments sectors by age, gender or social group focused on a specific product and a specific period of time.
  7. Motivational research: It is an investigation that is carried out in a meeting of people with a psychologist as a guide for that meeting to moderate talks about a certain product.
  8. Experimental research: It is the research that is carried out to evaluate potential customers with their reaction, whether they like or dislike a product.
  9. Applied research: It is the investigation that is applied to know the failures of a market strategy.
  10. Analytical research: Includes socioeconomic research focusing on globalized advertising and advertising messages from the moment advertising is created with its effects. It aims to understand the message, behavior, attitudes, and your attention.
  11. Media research: It is the study of advertising media, whose objective is its dissemination, the quality of the message, investment, communication and content.

How Market Research Types Are Applied

The types of market research are applied from techniques such as:

  1. Interviews are conducted with the interviewer and the interviewee to gather information and their opinion with the help of pre-set questions that guide the interviewer.
  2. You can also apply a group technique with the interviewer and interviewees in a meeting where they talk about a topic that is aimed at knowing the opinion about a product. Help for preset questions also applies.
  3. The mystery customer is a technique used by the interviewer who pretends to be a customer to gather information about a certain product and company. The purchase is made to know the after sales service.
  4. The pseudo-customer is the researcher who pretends to be a customer but differs from the previous technique because he questions the product in such a way that he never makes the purchase, since he only needs to evaluate the service and the product based on knowing the skill of the competition and the customer service.
  5. The observing interviewer explores and describes the environment of the competition. It remains active fulfilling a social role interacting and attending events, with the sole objective of observing the layout, decoration and service of the competition.

How the types of market research are developed

The types of market research will always develop in the same way:

1.First, the problem that needs to be investigated is defined, then how the investigation will be carried out is chosen and defined, the data is collected, analyzed and the conclusions presented.

  1. When defining the problem, the objectives of the research are established, that is, the way in which it will be carried out, since it is the main thing because it is possible to invest a large amount of money in the research, but it will not be useful if the problem is not clearly defined.
  2. After the problem has been exposed, the basic questions that must be answered with possible subsequent questions and cross-questions are established.
  3. Then the objectives of this investigation are established, establishing the necessary information that will lead to the resolution of the questions.
  4. A timeline is then prepared with the details of the steps for the investigation.
  5. Its design is chosen, the types of information needed are identified along with the sources, and data collection and measurement instruments are established.

Anyway, you should always keep in mind that each company is different and therefore the research design will be different from another business and therefore the pre-established questions will vary.

Therefore, a questionnaire will be formed in a different way according to the objectives that are sought in an investigation and will follow a particular sequence.

But it is essential that you establish what you need to measure, define what your purpose is when surveying an interviewee and the characteristics of the area that you have segmented as the objective of the survey.

To achieve greater clarity, you must control that the information obtained has been adjusted to the objective of the investigation and that it is complete so that a good decision can be made based on it, since this is the main purpose.