The Marketing Research Process
The marketing research process involves a variety of methods. Focus groups, descriptive research, exploratory research, and SMART objectives are all common types. Understanding each of them is necessary to come up with a plan. Using this process will provide you with insightful information that will help you make informed business decisions. But how do you get started? Here are a few tips:
Exploratory research
To create a new market study, it is essential to conduct exploratory research to identify new opportunities. This type of research relies on qualitative data to gather information on a specific subject. The results of exploratory research may not be statistically significant and require further study. In some cases, exploratory research may uncover an important problem that warrants further investigation. It is important to note, however, that exploratory research often produces inconclusive results.
In addition to quantitative research, exploratory research also includes qualitative research. This type of research involves gathering information that is not quantitative, such as surveys or focus groups. Instead of determining whether a product is a hit or miss, these types of studies focus on the why, what, and how of the problem or issue. Examples of exploratory research include focus groups and depth interviews. Ultimately, the purpose of exploratory research is to gather as much information as possible about a topic or idea and make it actionable.
Descriptive research
Using descriptive research to understand your target audience is a good way to find new ways to increase your sales. This method helps …
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