Techniques & Forms of Marketing Research
Here are the most common techniques and forms used in marketing research:
Marketing research is "the process or set of processes that links the producers, customers, and end users to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications."
It is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior. The term is commonly interchanged with market research; however, expert practitioners may wish to draw a distinction, in that market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes.
Marketing research is often partitioned into two sets of categorical pairs, either by target market:
- Consumer marketing research, and
- Business-to-business (B2B) marketing research
Techniques and Forms of Marketing Research
Periodic or continuous in-market research to monitor a brand’s performance using measures such as brand awareness, brand preference, and product usage.
Used to predict copy testing or track the efficacy of advertisements for any medium, measured by the ad’s ability to get attention, communicate the message, build the brand’s image, and motivate the consumer to purchase the product or service.
BRAND EQUITY RESEARCH
How favorably do consumers view the brand?
BRAND ASSOCIATION RESEARCH
What do consumers associate with the brand?
BRAND ATTRIBUTE RESEARCH
What are the key traits that describe the brand promise?
BRAND NAME TESTING
What do consumers feel about the names of the products?
COMMERCIAL EYE TRACKING RESEARCH
Examine advertisements, package designs, websites, etc. by analyzing visual behavior of the consumer
Test the acceptance of a concept by target consumers
Make observations and predictions in changes of new or existing cultural trends in areas such as fashion, music, films, television, youth culture and lifestyle
BUYER DECISION MAKING PROCESS RESEARCH
Determine what motivates people to buy and what decision-making process they use.
Predicts in-market performance of an ad before it airs by analyzing audience levels of attention, brand linkage, motivation, entertainment, and communication, as well as breaking down the ad’s flow of attention and flow of emotion.
CUSTOMER SATISFACTION RESEARCH
Quantitative or qualitative studies that yields an understanding of a customer's satisfaction with a transaction.
Determine the approximate level of demand for the product.
DISTRIBUTION CHANNEL AUDITS
Assess distributors’ and retailers’ attitudes toward a product, brand, or company
INTERNET STRATEGIC INTELLIGENCE
Searching for customer opinions in the Internet: chats, forums, web pages, blogs... where people express freely about their experiences with products, becoming strong opinion formers
MARKETING EFFECTIVENESS AND ANALYTICS
Building models and measuring results to determine the effectiveness of individual marketing activities.
How does the target market see the brand relative to competitors? - what does the brand stand for?
PRICE ELASTICITY TESTING
Determine how sensitive customers are to price changes.
Determine the expected level of sales given the level of demand. With respect to other factors like advertising expenditure, sales promotion etc.
Determine the demographic, psychographic, cultural, and behavioral characteristics of potential buyers.
A group of individual who accepted to respond to marketing research online.
Measure the sales of a product or product line at a statistically selected store sample in order to determine market share, or to determine whether a retail store provides adequate service.
A small-scale product launch used to determine the likely acceptance of the product when it is introduced into a wider market.
VIRAL MARKETING RESEARCH
Refers to marketing research designed to estimate the probability that specific communications will be transmitted throughout an individual's Social Network.