MAIN TOPIC: Describe the different types of marketing research
Objective:
The goal of marketing research is to provide businesses with valuable insights that help them
make informed decisions related to product development, marketing strategies, pricing,
advertising, and more. But it is important to know several types of marketing research because
each type serves different purposes and methods to gather insights. The main types include:
Market/customer research, Product, price and promotion research, Channel research, Sales
research, Advertising research, Policy research, and other type of research.
Nj Ivan C. Bacerdo
TOPIC 1: Market/customer research
Market/Customer Research - customer research refers to the process of collecting, analyzing,
and interpreting data related to customers' preferences, behaviors, attitudes, and perceptions. This
research helps businesses understand customer needs and desires, which in turn supports the
development of effective marketing strategies.
Surveys - The most common method used in market research. It can be conducted online or in
person. It is used to gather information about customer’s preferences, buying habits and
satisfaction with products and services.
Focus groups - Another type of market research. They are small groups of people who are
brought together to discuss a particular product or service. It can be used to test new products or
services, get feedback on existing products.
Data analysis - is also an important part of market research. By analyzing data from sales
reports, social media, and other sources. Businesses can identify trends and patterns in consumer
behavior.
Competitor Analysis - This involves gathering information about the competition, such as their
products and services, pricing, and marketing strategies.
Purpose of Customer Research
1. Descriptive: To describe the characteristics of customers, such as demographics,
attitudes, and behaviors.
2. Diagnostic: To explain the reasons behind certain customer behaviors or market trends.
3. Predictive: To forecast future customer behavior based on collected data and trends.
Methods of Collecting Customer Data
● Qualitative Research: Provides in-depth insights into consumer attitudes, motivations,
and perceptions. This can include methods like interviews, focus groups, and
ethnography.
● Quantitative Research: Involves collecting numerical data that can be analyzed
statistically. This is useful for understanding patterns, trends, and generalizing results to a
larger population. Surveys and experiments are common methods.
Importance of Market/Customer Research
1. Understanding Customer Needs and Preferences: Customer research helps businesses
identify what customers want, need, and expect from products or services. This
information is key for designing offerings that meet or exceed customer expectations.
2. Improving Customer Satisfaction and Loyalty: By understanding customers'
experiences, businesses can pinpoint areas that need tig improvement, thereby enhancing
satisfaction and increasing customer loyalty.
3. Market Segmentation: Customer research helps companies segment the market into
distinct groups based on demographic, psychographic, or behavioral characteristics. This
enables targeted marketing efforts, which can be more effective and cost-efficient.
4. Competitive Advantage: Through customer research, businesses gain insights into
consumer perceptions of their brand and their competitors. This can help firms develop
strategies to differentiate themselves and maintain a competitive edge.
5. Forecasting Trends: By analyzing customer behavior and preferences over time,
businesses can predict future trends and make proactive decisions, ensuring they stay
ahead of the competition and adapt to market changes.
6. Product and Service Development: Customer research helps in identifying gaps in the
market and understanding the features or improvements customers would appreciate in
products or services. This can guide new product development or refinement of existing
offerings.
Challenges in Customer Research
● Response Bias: Customers may not always provide truthful answers, which can affect
the reliability of the data.
● Nonresponse Bias: Some groups may not participate in surveys or studies, leading to
gaps in data.
● Cost and Time Constraints: Conducting thorough customer research can be expensive
and time-consuming, which may limit the scope of research.
References:
Kahle, L. R., & Malhotra, N. K. (1994). Marketing Research: an applied orientation. Journal of
Marketing Research, 31(1), 137.
https://doi.org/10.2307/3151953
Glenn P. Badua
TOPIC 2: Product, price, and promotion research
What is product research
Product research is the process of gathering and analyzing data about a product to understand its
users and the market. It's a crucial step in the product development process, whether you're
launching a new product or improving an existing one.
Why is product research important ?
● It helps you understand what your customers want and need.
● It helps you identify gaps in the market that your competitors aren't filling.
● It helps you create a product that stands out from the competition.
● It helps you make informed decisions about your product's design, development, and
marketing.
What is Price research
Price research, also known as a pricing study, is a method used to determine the best price for a
product or service. It helps businesses maximize revenue, market share, and profitability.
How is price research used?
● To determine the optimal price for new products
● To maximize revenue and market share
● To balance customer willingness to pay with business profitability
Common pricing research methods
● Conjoint analysis
A statistical technique that measures how customers prioritize different product attributes
● Van Westendorp Price Sensitivity Meter
A method that identifies price points that are psychologically relevant to customers
● Gabor-Granger technique
A direct pricing technique that asks respondents if they would buy a product at a specific price
What is promotion research
Promotion research is the study of how to promote a product or service, and how consumers
respond to those promotions. It can also refer to research on how to promote research itself.
How is promotion research used?
● Develop promotions: Research can help marketers develop promotions that are more
effective and appealing to consumers.
● Evaluate promotions: Research can help marketers measure the effectiveness of their
promotions.
● Understand consumer behavior: Research can help marketers understand how
consumers make purchase decisions, including impulsive purchases.
References:
Brata, B. H., Husani, S., & Ali, H. (2017). The influence of quality products, price, promotion,
and location to product purchase decision on Nitchi at PT. Jaya Swarasa Agung in Central
Jakarta. Saudi Journal of Business and Management Studies, 2(4), 357-374.
https://www.saudijournals.com/media/articles/SJBMS-24B433-445.pdf
Aldrin Huit
TOPIC 3: Channel research
What is channel research?
Channel research is the process of gathering and analyzing information about how products or
services are delivered to the end customer. It involves studying the various channels of
distribution that a company uses, such as wholesalers, retailers, online marketplaces, and direct
sales, to understand their effectiveness and identify areas for improvement.
What is the importance of channel research?
Channel research is crucial for businesses to understand how to effectively reach their target
audience and optimize their distribution strategies. Here's a breakdown of its importance:
● Understanding consumer behavior
● Optimizing channel strategy
● Increasing sales and revenue
● Gaining competitive advantage
● Reducing costs and improving efficiency
What is the goal of channel research?
The goal of channel research is to optimize the distribution process, ensuring that products or
services reach the target market efficiently and cost-effectively. This can involve:
● Identifying the most effective channels
● Evaluating channel performance
● Understanding channel dynamics
● Analyzing customer preferences
● Monitoring competitor activities
To conduct effective channel research, you need to define your research objectives clearly and
specifically. Your research objectives are the questions that you want to answer or the problems
that you want to solve through your channel research. Your research objectives should be
SMART: Specific, Measurable, Achievable, Relevant, and Time-bound.
To define your channel research objectives, you need to consider the following:
1. Your business goals and challenges
2. Your channel goals and challenges
3. Your research scope and resources
References:
George F. Watson, Stefan Worm, Robert W. Palmatier, Shankar Ganesan (2015). The Evolution
of Marketing Channels: Trends and Research Directions. Journal of Retailing.
https://doi.org/10.1016/j.jretai.2015.04.002
Nathaniel Dave Garcia
TOPIC 4: Sales research
What is Sales Research
Sales research is the process of gathering, analyzing, and interpreting data related to sales
activities, customer behavior, and market conditions. It helps businesses understand sales trends,
identify opportunities, and optimize sales strategies to increase revenue.
Purpose of Sales Research
1. Understanding Customer Needs – Helps businesses identify customer preferences and
buying behavior.
2. Improving Sales Strategies – Provides data-driven insights to enhance sales techniques
and outreach methods.
3. Identifying Market Trends – Helps businesses stay ahead of competitors by recognizing
emerging trends.
4. Enhancing Sales Forecasting – Supports accurate revenue predictions and inventory
management.
5. Optimizing Pricing Strategies – Assists in setting competitive pricing based on customer
willingness to pay.
6. Evaluating Sales Performance – Measures the effectiveness of sales teams and
campaigns.
Types of Sales Research
Primary research involves the direct collection of data from potential customers through
surveys, interviews, and direct observation.
Secondary research, involves the analysis of existing data such as market reports, sales
logs, and customer databases.
Advantages of Sales Research
The advantages of sales research are many and various. Firstly, it helps identify potential
customers and their needs. Secondly, it enables the company to understand market trends,
competition, and customer behavior. Thirdly, it assists in formulating effective sales strategies
and policies. Lastly, it helps in assessing the performance of sales personnel and the effectiveness
of sales techniques.
How to Conduct Sales Research
1. Define your objective - what you want to achieve
2. Collect Sales Data - Use various data sources like internal and external data
3. Use Research Methods – qualitative, quantitative, primary and secondary research
4. Analyze the Data -
5. Interpret Findings and Take Action - Adjust sales strategies based on findings
Integrating Sales Research in Marketing Research
Incorporating sales research into marketing research is a strategic method for obtaining a
thorough understanding of the market. Sales data is essential for improving marketing research
since it provides insights into consumer preferences, purchasing patterns, and new patterns of
behavior. This combination offers a comprehensive view of the market, resulting in more
successful marketing and sales strategies.
Effective collaboration between sales and marketing teams leads to increased sales
performance, but many organizations fail to integrate these two departments, leading to
inefficiencies.
References:
Steger, C. & Saint Leo University. (2019). The impact of the Marketing/Sales relationship and
effect on Business performance. Saint Leo University.
https://www.researchgate.net/publication/337184745_The_impact_of_the_MarketingSales_relati
onship_and_effect_on_Business_performance
https://fastercapital.com/content/Sales-research--How-to-Conduct-and-Use-Sales-Research-to-U
nderstand-Your-Market-and-Customers.html
Ashley Selera
TOPIC 5: Advertising research
Advertising research is a systematic process of marketing research conducted to improve the
efficiency of advertising. Advertising research is a detailed study conducted to know how
customers respond to a particular ad or advertising campaign.
When to conduct advertising research?
Pre-testing, also known as copy testing, is a specialized field of marketing research that
determines an ad’s effectiveness based on consumer responses, feedback, and behavior.
Pre-testing is conducted before implementing the advertisement to customers.
A new area of pre-testing driven by the realization that what works on TV does not necessarily
translate in other media. Greater budgets allocated to digital media in particular have driven the
need for campaign pre-testing.
Post-testing/Tracking studies provide either periodic or continuous in-market research
monitoring a brand’s performance, including brand awareness, brand preference, product usage
and attitudes. Some post-testing approaches simply track changes over time, while others use
various methods to quantify the specific changes produced by advertising—either the campaign
as a whole or by the different media utilized.
How to conduct advertising research?
Collect data:
Use surveys, interviews, and online tracking to gather data.
Analyze data:
Use statistical tools to identify patterns and trends.
Interpret data:
Use qualitative and quantitative analysis to understand what the data means.
References: Wikipedia contributors. (2024b, March 18). Advertising research. Wikipedia.
https://en.m.wikipedia.org/wiki/Advertising_research
Hanna Baltero
TOPIC 6: Policy research
What is Policy Research?
A systematic study of social issues with the goal of informing the creation, application, and
assessment of public policies, policy research serves as a link between academic knowledge and
real-world decision-making.
Type of Policy:
Public policies: such as healthcare and education policies, are actions made by the government
to address societal issues.
Regulatory Policies: Regulatory policies are laws and standards that are imposed to govern
behavior (e.g., environmental rules, financial oversight).
Social policies: such rental assistance and inequality reduction, are those that prioritize equality
and social welfare.
Economic policies: methods (such as fiscal and monetary policy) and trade and taxation are
examples of economic policies.
Institutional policy: are subject to institutional policies, such as workplace or university
regulations.
Important Factors for Policy Research:
Informs Decision-Making: Before implementing a policy, officials can better understand the
possible effects of various solutions.
Enhanced Effectiveness: Determines current policies to see if they are reaching their intended
objectives and makes recommendations for enhancements.
Optimized Resource Allocation: Assists in making sure that public funds and resources are
used effectively.
Encourages Innovation: To enhance policymaking, new methods and best practices from many
settings are identified.
Engaged Stakeholders: To develop fair and equitable policies, communities, corporations, and
advocacy organizations are included in the policy-making process.
References:
Crewe, E., Young, J., & Overseas Development Institute. (2002). Bridging Research and Policy:
context, evidence and links. In Working Paper 173. Overseas Development Institute.
https://scholar.google.com/scholar?start=20&q=importance+of+policy+research&hl=en&as_sdt
=0,5#d=gs_qabs&t=1739343823629&u=%23p%3DWXu7RsxwG6EJ
Juvilyn Anque
Other type of marketing research
● Descriptive Research: Descriptive research includes surveys and
fact-finding inquiries of different kinds. The major purpose of descriptive
research is a description of the state of affairs as it exists at present. The main
characteristics of this method is that the research has no control over the
variables, he can only report what has happened or what is happening.
● Analytical Research: In analytical research, the research has used to facts
or information already available and analyze these to make a critical
evaluation of the material.
● Applied Research: Applied research aims at finding a solution for an
immediate problem facing a society or an industrial/business organization.
The research aimed at certain conclusions facing a concreate social or
business problem is an example of applied research. Research to identify
social, economic, or political trends that may affect a particular institution or
copy research or marketing research or evaluation research are examples of
applied research.
● Fundamental Research: Fundamental research is mainly concerned with
generalizations and with the formulation of a theory. Research concerning
some natural phenomenon or relating to pure mathematics are examples of
fundamental research. Similarity research studies concerning human behavior
carried on with a view to making generalizations about human behavior are
also examples of fundamental research.
● Quantitative Research: Quantitative research is based on the measurement
of quantity or amount. It is applicable to phenomena that can be expressed in
terms of quantity.
● Qualitative Research: Qualitative research is concerned with qualitative
phenomenon i.e. phenomena relating to or involving quality or kind. This type
of research aimed at discovering the underlying motives and desires, using a
depth interview for the purpose. Qualitative research is especially important in
behavioral science where the aim is to discover the underlying motives of
human behavior.
● Conceptual Research: Conceptual research is related to some abstract
ideas or theories. It is generally used by philosophers and thinkers to develop
new concepts or to reinterpret existing ones.
● Empirical Research: Empirical research realizes on experience or
observation alone, often without due regard for system and theory. It is
data-based research, coming up with conclusions that are capable of being
verified by observation or experiment. In such research, the researcher must
first provide himself with a working hypothesis or guess as to the probable
results.
References:
Md. Harun Ar Rashid (2019) Research | Objectives of Research | Types of Research | Characteristics
of Research Research | Objectives of Research | Types of Research | Characteristics of
Research
