The marketing research methodologies accessible to today's corporate decision-makers are numerous. Understanding market research and how to effectively use research techniques to your advantage are critical to reaching your target consumers and boosting ROI. Our market research firm will go through ten different Types of Marketing Research and their benefits and drawbacks in this comprehensive guide.
Different Types Of Marketing Research
Online Surveys
Online surveys are a form of quantitative research aimed to gain feedback and insight on a specific objective. Web surveys are designed, programmed, and administered – you guessed it – online. With the rise of technology, most surveys online are equipped to be taken on smartphones and tablets as well.
Phone Surveys
Phone surveys began as a core market research methodology decades ago and still prove to be at the forefront of market research methodologies. This form of qualitative or quantitative research centers around collecting deeper feedback from a two-way active communication between the interviewer and respondents.
Omnibus Surveys
Omnibus surveys or piggyback surveys are a type of online survey. However, instead of one company sponsoring the market research, the survey includes questions from multiple different organizations. This type of market research allows several brands and businesses to purchase a few questions as part of a much larger survey.
Mail Surveys
Emails, texts, and voicemails are all common methods of communication. They are inundating our inboxes. What about mail that is delivered by hand? Mail surveys often dismissed as a relic of a bygone era, are making a comeback. Respondents fill out questionnaires on paper and send them back, which is a quantitative marketing research data gathering approach.
Intercept Surveys
Intercept surveys are a type of quantitative research that aims to capture respondents' "in-the-moment" input. Intercept surveys are commonly used to collect perception information after individuals attend an event or eat at a restaurant. This kind of information can be gathered before or during a participant's encounter. Intercept survey data is often obtained using tablets or traditional interviewing methods such as paper and pencil. Make sure the survey platform you're using supports offline capabilities if you're going to use tablets or other electronic devices.
Mystery Shopping
Mystery shopping is a form of market research using professionally trained shoppers to assess an experience in a natural storefront or retail environment. Both qualitative and quantitative, mystery shopping is a perfect project to test all areas of customer service.
Shop-Alongs
Shop-along research is a market research technique that is comparable to mystery shopping. A shop-along is when an interviewer walks beside a customer as they shop for various goods in a store, asking a series of questions during the process. This will most likely happen in a grocery shop or other retail establishment. Participants in a shop-along are either pre-selected by a shop-along business or intercepted as they enter the store. Because of their level of evasiveness during their shopping experience, participants are generally given large financial incentives in either situation.
Focus Groups
Focus groups are a type of qualitative study that entails an open conversation between four to twelve participants with the help of a professional moderator. Having two distinct groups answer identical questions is typically recommended by a focus group firm. If you're just moderating one focus group, you may end up with three ax grinders directing the conversation in one direction, resulting in incorrect input. A second focus group will serve as a gut check to confirm the previous group's conclusions.
Final words
You've learned about the many forms of marketing research in this post. I hope you are well-versed in the many forms of marketing research. If you're having trouble writing marketing assignments, don't worry; we're here to provide you with the greatest marketing assignment help at a fair cost.