LONDON--(BUSINESS WIRE)--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest article on the common types of market research methods.
Market research is a systematic method that makes the marketing process simple and successful. The global economy is currently getting competitive with every passing day and having precise knowledge about the likings of the customer and their concerns have become important for businesses. Understanding customer retention, consumer engagement, and the growth optimization strategies through precise, insightful market research helps drive business value. To know more about our complete portfolio of market research solutions, Request a proposal
Although many things have changed in the move towards online enterprises, the process of market research still remains the same. To understand the influence of market data on organizational tactics, it becomes imperative to discover the research methods that are used to gather this information.
“Market research helps extract the complete profile of the ideal customers and also helps in determining the size of the market,” says an industry expert from Infiniti.
Continue reading to know more about the business benefits of market research or get in touch with our analysts for a free consultation.
Types of Market Research:
Primary research
- Surveys: Surveys are of the most commonly used market research tools today. Surveys can be of many forms like a feedback form at your favorite restaurant or a web survey. Surveys are considered to be very effective for gauging attitudes, satisfaction research, collecting facts, or pricing research. To know more about our portfolio of market intelligence solutions, Request a proposal
- Interviews: Interviews help in understanding specific issues better. It helps in identifying customers’ problems, examining psychological motivations, and finding perceptions, etc. Interviews can be conducted in person, over the phone, or over the Internet. Interviews offer a mix of qualitative and quantitative data from customers depending on the way the questions are drafted.
- Focus groups: This includes the group of people with specific interests or behavior. This method is very useful to approach the target audience of the business accurately and understand the problems in a much better way. Focus groups are a priceless primary research tool for business leaders and marketers. These focus groups or open forums conversations can produce novel ideas, resulting in substantial insights into consumer opinion and attitude. Lately, online focus groups have become popular owing to the development of interactive video conferencing technology. Participants or respondents can remotely apply for participation, face screening, and take part at a prearranged time via video conference. Organizing focus groups online is more cost-effective than in person because the physical testing location requirement is removed and time and travel expenses for the participants and organizer are reduced. To know more about the common types of market research methods, get in touch
Secondary research
- Secondary research helps in collecting the current data and research. Secondary research comprises census data, social media comments, journals, and much more. It can be done in lesser time. Moreover, it is based on information presented from already performed studies by various government or industry-specific organizations.
- Get in touch, to know more about the benefits of market research
Infiniti Research is a global market intelligence company offering strategic insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the common types of market research methods.
View the complete list of the common types of market research methods:
https://www.infinitiresearch.com/thoughts/market-research-guide
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
