There are several types of marketing research, but they all have a specific purpose. Exploratory research, Descriptive research, and Casual research are examples of this. Exploratory research aims to determine what people’s reactions are to a certain product or service. Descriptive and casual research focus on specific audiences, while primary research focuses on the attitudes and beliefs of a specific demographic. This type of research is most appropriate when an audience’s needs are not fully understood.
Marketing researchers use exploratory research to find out more about their target audience or a topic. Often, the results of exploratory research will provide the marketer with insights about their product/service, their competitors, or their own marketing. By identifying the challenges and opportunities that consumers face in your market, you can form hypotheses and focus your objectives accordingly. Here are the benefits of exploratory research:
Exploratory research often does not yield specific conclusions, but it provides a preliminary basis on a subject. The results from exploratory research may lead to a different direction of investigation or open new frontiers for business development. While some marketers may make assumptions based on the results of exploratory research, others will go on to further study. Whatever the case, exploratory research can lead to important changes in the organization. The more information you have, the more growth opportunities will present themselves.
The purpose of descriptive marketing research is to provide basic information about a particular problem. This type of research is used to collect …Types of Marketing Research Read More