13 Types of Marketing Research You Need To Know ✽
Marketing research is evaluating new products or services through collecting information from consumers. This allows the brand to get actual feedback from potential customers and understand its target market. It also helps brands improve user experiences and attract new leads or even create better future marketing strategies.
Types of marketing research include focus groups, interviews, surveys, and customer observation. So, let’s take a look at 12 types of marketing research:
CATI stands for computer-assisted telephone interviewing CATI. It’s a telephone search method that’s guided by a computer. This means the interviewer calls a respondent and asks him questions using a script that’s displayed on the computer screen.
One of the advantages of using CATI research is allowing the interviewer to focus on making the conversation dynamic rather than the data. Since the computer suggests questions and customizes them based on the respondent's answers, CATI makes a better alternative to traditional data collection.
Testing a product, advertising strategy, or an offer in the actual marketplace, and sometimes with selected geographics. The goal of in-market testing is to answer questions about the product, such as is there a demand for the product? What do customers think of the product compared to competitors’ products? Where and how can customers buy the product? Which type of advertising works best for you? And more.
4-Online marketing research
Similar to market research, online marketing research evaluates and analyzes data about a product or a service, but on the internet. It’s an easier and faster way to gather information about consumers' behavior and their buying behaviors.
It’s a type of market research that collects and analyzes non-numerical data such as video, text, audio recording, or photos. It usually studies how people think and why they think so since the research is based on sociology, psychology, and anthropology. Qualitative research is useful to understand how a certain type of audience feels before making a buying decision.
On the contrary, quantitative research focuses on collecting and analyzing numeric data that end up with statistics. An example of a quantitative research question is what’s the demographic number of a certain country? What’s the average spent time on social media in a certain country?
An example of how brands can use quantitative research is by conducting surveys to measure customer satisfaction.
7-Group market research
It’s a type of research that includes interviews of a selected target audience. Those target groups are chosen based on certain criteria such as social status or demographics.
Focus group research is beneficial to gather qualitative data without using surveys. It also helps you understand consumers more based on their body language and tone of voice.
8-Measuring retail performance
Measuring retail performance helps companies track their monthly profits. It also shows the companies’ strengths and weaknesses and what needs to be improved. There are several ways to measure performance such as the number of customers, retail conversion rate, average sales, customer conversion ratio, gross margin, and gross profit.
Brand expression is how the brand is represented to consumers and how it expresses itself. This includes the logo, the brand’s identity, website design, copywriting, and packaging design.
Brand expression helps brands create emotional links with their audience, create consistency, and choose a language that resonates with the audience better.
It’s the brand’s long-term plan and guidelines to help the brand achieve goals that will end up having a certain image in the mind of consumers. A successful brand strategy helps the brand reach a wider audience, helps the brand solve its problems, identifies the brand’s competitors, and determines how to engage potential customers.
A strategy of how you will communicate with the target audience and introduce your products to them. This includes what you will say, which platform you will use, and which people are you targeting.
A key component to the success of a communication plan is aligning your brand with your customers and your budget.
A marketing plan is a roadmap that outlines a marketing or advertising strategy over a certain period of time. This includes market research, targeted messages, platform selection, and metrics to measure success. A marketing plan is crucial to measure the success of campaigns, understand buyer personas, define tactics, and track your budget.
Marketing strategy is the overall plan a business uses to understand and reach potential customers, define the brand’s key messages, and contain the business’s value proposition.
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