6 Types of Marketing Research
Marketing research is an activity where you must collect data that is used as a basis for marketing activities. So this research aims to obtain objective and accurate data to subsequently be used as a reference in making decisions.
Marketing research is very important for those of you who have a business because with this research we can find out trends in consumer tastes and needs so that the products produced will be more effective in the market. To conduct research also needs special skills so that the research objectives can be realized properly.
There are many types of marketing research that you can choose from, here are some examples.
1. Market segmentation research
This research is carried out by observing directly the market situation to find the appropriate target market and consumers so that later the products marketed are not mistargeted,
In the market segmentation research process, the data sought is data that includes consumer needs and interests in a particular product.
2. Sales research
This one research does have a different concept from marketing research, but these two things are very related to each other. This is evidenced by one of the marketing objectives aimed at determining how the sales system of a product/service.
You can collect data on the results of achieving sales targets for several periods. That way, you can find out whether the marketing activities you do affect sales.
3. Marketing planning research
(source: personal document)
You can do research in advance about data related to the preparation of strategies and marketing activities.
4. Branding research
This research aims so you can find out how well-known the goods/services offered are
5. Competitor analysis research
Analyzing competitors is also very important, why? Because and of this you can find out the advantages, disadvantages, and find your business opportunities and competitors.
There’s nothing wrong if you ‘steal’ opportunities from competitors, right?
6. Price research
The last type of research is price research of the goods/products you offer. This research is conducted by analyzing the prices of goods/services that are similar to competitors to be able to estimate and determine the right price.
You can do research with consumers directly to give their assumptions about the price you set.
There are some tips you can do when doing market research.
1. Conduct market surveys
The benefit of conducting a market survey is to find out market conditions and find out market interests and needs. You can conduct surveys with direct interviews with consumers.
2. Observing market developments
(source: personal document)
By observing market developments, you can follow trends to consider before launching a product.
3. Conducting market trials
Before releasing a new product, do a market trial first to find out consumer interest.
You can provide product samples to consumers either through stalls or modern stores.
Those are some research that you should do before launching a new product/service. Hope it helps.