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What is the market research?

What is the difference between market research and marketing research?

  • Quora has over 1000 followers for "market research" but only 20 for "marketing research" -- what's the difference?

  • Answer:

    For many people the two are synonymous. However technically the two are (or should be seen as) different. Marketing Research is research aimed at gathering information on all aspects of marketing. The purpose is to enhance an organisation's marketing processes and activities. As such it includes aspects such as advertising research (i.e. research looking at the effectiveness of advertising), sales research (e.g. research to look at the best sales approaches), channel research, competitor research, etc. In contrast, Market Research focuses on markets i.e. the customer or prospective customer. As a result (unless it is used as a synonym for marketing research), it won't look at aspects such as advertising effectiveness research. The focus is strictly on the market itself. It may include some sales research studies and competitor studies - in as much as these can also look at customer/prospect responses.

Arthur Weiss at Quora Visit the source

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Marketing research :- Marketing research is a systematic method of gathering, recording, and analyzing of qualitative and quantitative data. A company faces many marketing problems. It faces problems about consumers, product, sales promotion, market competition etc.Which is used to solve marketing problems.The aim of marketing research is to identify and assess how changing elements of the marketing mix impacts consumer behavior.Marketing research collects full information about consumers. It finds out the needs and expectations of the consumers. The company produces the goods according to the needs and expectations of the consumers.Marketing research helps the company to make its production and marketing policies. It helps the company to introduce new products in the market. Marketing research also collects full information about the competitors. The company uses this information to fight competition.Marketing research is very systematic, scientific, objective and organized. It has a wide scope. It includes product research, consumer research, packaging research, pricing research, etc.Marketing research is a continuous process. It has a few limitations. However, a company cannot survive and succeed without marketing research.Market Research :- Market research means researching specific industries or markets. For example researching the mobile phone industry to discover the number of competitors and their market share is market research. It is a very important component of business strategy. It is organized effort to collect information about target markets or customers.

Deep Lohani

Market Research is receiving general information about customers, industry, competition etc. but Marketing Research is looking for detailed data about customer preferences and products

Richa Patel

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