MARKET RESEARCH

Market research

_______ _________ refers to the design, collection, and analysis of relevant data, arranged in a systematic way, aimed at providing a solution to a specific marketing problem.

• Advertising Research

• Commercial Eye-Tracking

• Customer Satisfaction Research

• Distribution Channel Audit

• Internet Strategic Intelligence

• Test Marketing

Types of Market Research:

Customer Satisfaction Research

Types of Market Research:

This type of market research requires quantitative and qualitative data or interview that came from the feedback of customers who already purchased the product, or a related one, to gauge his satisfaction.

The satisfaction feedback will give the entrepreneur valuable information on what to improve or innovate further to meet the total satisfaction of the buyers.

Distribution Channel Audit

Types of Market Research:

Auditing or assessing the distributor or retailers’ purchase ordering pattern and levels of a product or a related one can be used in gauging how the product is received by the buying public or its target market.

Internet Strategic Intelligence

Types of Market Research:

This emerging type of market research provides the entrepreneur a no holds bar type of feedback and assessment of the product or service.

Using the Internet in the form of chats, forums, blogs, etc., the product under review is given an honest experience review, for these channels are usually considered venues wherein someone can freely express himself and his feelings, thus becoming strong opinion formers.

Test Marketing

Types of Market Research:

A lot of business enterprises are using the test marketing type of market research wherein a small, controlled quantity of the product is being released to gauge the level of acceptance of the buying public or target market.

Only upon successful assessment will the business enterprise launch it on a wider market.

Advertising Research

Types of Market Research:

This type of marketing research aims to predict or trace the effectiveness of an existing or related product or service advertisement. The related product is assessed in terms of its ability to catch the attention of potential buyers, maintain the brand image at excellent levels, and push the potential buyers to make a purchase.

Commercial Eye-Tracking

Types of Market Research:

This type of marketing research focuses on the examination and evaluation of an existing or related product or service’s advertising or marketing collaterals, package design, colors, and themes, as well as website layout and scheme. These factors will be used for analyzing visual behavior and trends among its target consumers.