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 data in the natural environment of the respondent, and is often very fast and cost-effective. Its main advantages include providing detailed information on a problem and its causes and effects, as well as guiding other research methods. It is the ideal type of research for businesses, non-profit organizations, and governments.
During descriptive research, qualitative observations are done without measurements, allowing for greater insight into a particular phenomenon. In a comfortable environment, the characteristics observed are natural and not subject to researcher bias. The researcher can choose to act as an observer, participant, or full participant. In a supermarket, for example, researchers can observe which products consumers buy and monitor their purchasing habits over time to gain more insight into their buying patterns. The benefits are numerous and are often reflected in a single study.
There are three primary types of marketing research: exploratory, descriptive, and causal. Each type tests a hypothesis about a cause-and-effect relationship between variables. For example, a reduction in tuition for a private college might lead to an increase in enrollment. In many cases, managers begin with exploratory research before moving on to descriptive research. But this is not always the case. Casual research is a viable alternative for a variety of purposes.