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Market Research - Marketing

Marketing Research

 Have you ever wondered how companies know what you like? Today we will talk about an important branch of the market research market.

Market research is a discipline that has contributed to business and marketing development. They have been fed with various branches of economics, sociology, anthropology, psychology, statistics, communication, among others. Market research helps companies make the best decisions in the development and in the market for each of their products. In addition, market research studies in each of the companies, within the different market research techniques that can be found. We found two large groups. First, qualitative research tries to know the depths of the consumer, their thoughts, their feelings and their culture. For this type of research, methods such as focus groups are used, which is the meeting of several people with similar characteristics to talk about different topics. In addition to interviews and surveys. Second quantitative investigation. With this we collect data that can be easily measurable and quantifiable such as where you shop when you shop. How many times do you buy a certain product. For this, methods such as survey and observation are used.

We already know the types of research. Now let's look at the characteristics of it. It must be exact. When we do market research, we must know the methodology and analysis very well. Determine what kind of information we need to do better. Make decisions for the company. It must be efficient in time and money. The money we spend must be organized in the budget and a set time to do it. Market research must be timely in time to make business decisions. It is useless to know something new if we take two years to discover it. In addition, it must be relevant while the information is necessary for decision-making in the company. What are companies looking for with market research? Know your customers? What do they buy? How do they buy? Where do they buy? In addition to knowing your competition, how they are moving in the market, knowing the opportunities it offers them and also the threats.

Know the most effective means of communication to publicize your products or services. Know the reasons for liking or disliking your product. Know the positive or negative reactions of the consumer. Know the feelings that your brand inspires.

We already know what market research is. What is it for? Now let's look at how market research is done. This has five big steps. First, define the problem to be investigated. This is one of the most important steps in the investigation. There we solve the big question: What do we want to know? What are the information requirements to make the best decision? If this step goes wrong, all the work that we will do from now on will be for nothing and our investigation will be closed. Second, select and establish the research design. This is when we look at whether the research is quantitative or qualitative or is it a mixed effect. Here we look at the information requirements and how the investigation will turn out in its process. Third, design research tools. This is where we define if we are going to conduct surveys, interviews, focus groups. Observation If it is observation, we move to different places to determine the behavior of our consumer so that this information is the most relevant for the company.

Fourth data collection. It is here where we apply surveys, carry out observations and conduct interviews. This is one of the most important steps in the investigation. A mistake in this or that the person who is applying them is dishonest could completely alter the investigation and obtain unexpected results for the company.

Finally, let's remember one: market research is a process by which companies collect information so that we, the customers, have all the products and services at the right time, in the right place and when we need it. 2. The goal of market research is to help companies make the best decisions about us customers. 3. There are two main types of quantitative and qualitative market research. 4. Research has 5 steps Define the research problem. Select and design the investigation. Design the tools for research, data collection and decision-making analysis.

Thanks for your attention. I hope this information is very useful to understand this race.

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