Marketing Research can be categorised on the basis of the objective of your research into three broad categories – Exploratory Research, Descriptive Research and Causal Research.
Exploratory Research
Exploratory research is conducted to explore a problem to get some basic idea about the solution at the preliminary stages of research. The results of exploratory research are not usually useful for decision-making by themselves, but they can provide significant insight into a given situation.
Descriptive Research
Descriptive research is used to find accurate answers of questions like "How many units were sold last year in a given market?", "What are preferences and buying habits of our target consumers?" and "How many potential consumers are there and what are their demographic profiles?"
Causal Research
Causal research is used by marketers to find cause and effect relationship of variables. It is also sometimes referred as "If.. Then…" method. In this type of research, the marketer tries to understand the effects of manipulating independent variable on other dependent variable.
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Thanks for the article..I'm a market researcher by profession and I think this is a great website to share meaningful marketing research insights..
Thanks
Preeti
In terms of whether to choose qualitative or quantitative market research, that really depends on your interests and passion. If you are comfortable with numbers and statistics then quantitative research is meant for you. If you prefer to talk to people and get qualitative insights from them then qualitative research is for you.
That really depends on your skills and interest. If you are coming for statistics background and like number crunching you would enjoy quantitative research. If you like meeting new people and interview them then you will enjoy qualitative research more.
I'm making a marketing research paper now. based on my findings, I found there are types of marketing research technique which include store audits, consumer panels etc. are these types of marketing research under what category?
Thanks for this great article. It has greatly enhanced my understanding of market research method in a very simplified way. I am Msc. student studying marketing management.
Great job!
I am glad that you found this article useful. As far as career path is concerned in market research industry, it depends upon the organization you want to work for. For simplified understanding the growth structure is like Research Associate -> Research Executive -> Senior Research Executive -> Manager -> Associate Director -> Director -> Head of Research / VP Research.
Above information helped me in understanding type of research. I am an Entrepreneur. I am distributor for Different Test and Measuring equipment. I would like to know which type of research will suit me for new product launch.
thank u for this useful info
if it is possible please add the methods of data collection in each the method of research that will be more helpful