What is the meaning of marketing research? What is the difference between it and market research?

Marketing research is a set of methods and processes by which the information needed to make decisions in the areas of marketing and sales; Is provided and analyzed. In other words, marketing research is a bridge between companies and target groups. Based on marketing research, companies understand what customers want. What are their expectations? What are the unmet needs? What are the strengths and weaknesses of competitors? What is the optimal product formulation? At what price should the product be offered? And questions like these are all answered in the field of marketing research. In fact, marketing research helps managers better understand the factors that influence their decisions. These factors generally include:

  • Potential and current customers
  • Competitors and market participants
  • Intermediaries
  • Retailers
  • Representatives and wholesalers

On the other hand, marketing research is the better understanding of customer attitudes, behaviors, and feedback; Competitors, and intermediaries. Marketing research is different from market research, although it has a lot in common. The focus of marketing research is primarily on organization-related issues such as customer behavior, but in market research, macro-market indicators such as market size are usually measured. The most important topics in marketing research are:

  • Analysis of consumer behavior
  • Analyze customer attitudes
  • Customers’ attitudes and insights toward the brand
  • Competitive analysis
  • Weaknesses and strengths of competitors
  • Product analysis (product test or concept test)
  • Analyze the effectiveness of advertising
  • Pricing strategy
  • Analysis of intermediate channels and distribution

As can be seen, marketing research generally focuses on topics that are directly related to the performance of the marketing unit and less on macro indicators in the market. Of course, usually in research projects, a combination of market research and marketing research; Presented and used.

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