Market research relies primarily on a set of techniques and methods that companies use to gather information about their brand, products, and services. The way to do this is from the customers in the first place, as it is from them that information is received, the product or service is improved, and the brand is upgraded.
Types of Marketing Research
There is much market research that is based on the direction in which companies want to improve. For example, there is researchconsumers'ine consumers' opinions and their experiences with a particular product and whether it meets their expectations. There is also research on the impact of a specific advertising campaign and whether it achieved the desired result of spread and acceptable resonance.
There is also research on competing products and measuring their strengths and weaknesses. There is research on dividing the target market according to sectors and segments of target customers. Finally, research to measure the strength of the brand ancustomer'somer's vision of it (McDaniel Jr & Gates, 2018).
Market Research Methods
Many methods, old and new, are used to conduct market research. However, I will choose only three that I see as the most appropriate.
1. Netnography: This is a new research method that collects and analyzes qualitative data on social media, so it focuspeople'sople's reactions to a product, service, or brand. This type is based on active observation of social media. Usually, specific applications are used to fpeople'sople's comments and analyze them in an automated way. Then, the human factor intervenes in a comprehensive evaluation and an objective vision of the research subject (Sharma, Ahuja & Alavi, 2018).
2. Interviews: Direct interviews are considered one of the most potent research methods because of their greater credibility, as the companies that conduct these interviews have the opportunity to understand many dimensions that they would not have controlled remotely, whether through the Internet or observation in the markets (Pandey, Nayal & Rathore, 2020). The interviews take place by preparing a list of the necessary questions developed by experts to ask this type of question so that they are clear and understandable to the target customers.
3. Observation: It is an investigative method based on observing customer behavior in a specific time and spatial framework. Through this, companies can evaluate customer behavior with a particular product and try to improve and develop it (Boote & Mathews, 1999). This method must be with the consent and knowledge of clients when there is a video or photo recording.
Conclusion
Companies depend on marketing research in two critical stages. The first stage is before launching the product. This is to understand the target market, the extent of the customer's need for the product, and his perceptions of the best product. The other stage is evaluating the product on the market, whether it has achieved its desired goal, how it can be developed, and its relationship to the current situation and the brand's future.
References
Boote, J., & Mathews, A. (1"99). “Saying is one thing; doing is an "other”: The role of observation in marketing research. Qualitative Market Research: An International Journal, 2(1), 15-21.
McDaniel Jr, C., & Gates, R. (2018). Marketing research. John Wiley & Sons.https://www.wiley.com/en-us/Marketing+Research%2C+12th+Edition-p-9781119716310
Pandey, N., Nayal, P., & Rathore, A. S. (2020). Digital marketing for B2B organizations: structured literature review and future research directions. Journal of Business & Industrial Marketing.
Sharma, R., Ahuja, V., & Alavi, S. (2018). The future scope of ethnography and social network analysis in marketing. Journal of Internet Commerce, 17(1), 26-45.