Answer to Question #159221 in Management for Prabhdeep

Question

Give examples of different types of Market research designs?

Answer 1

Types of Market Research Designs

Market research is a set of techniques used to better understand the target market. It is used by companies to design better products, improve user experience and create a marketing strategy that attracts quality leads in the market.

Primary Market Research Design

Primary market research is designed through a process where businesses interact with the end consumers to carry out relevant studies and collect data. Examples include:

• Focus groups: A focus group is a small group of people who participate in surveys.
• One-on-One interview: It involves personal interaction with the customer through interviews.
• Ethnographic research: It is an in-depth research design that is conducted in the natural settings of the respondents.
• Observation of the customer as they engage with the product.
• Surveys.
• Polls.

Secondary Market Research Design

Secondary market research design uses information from outside sources like the media, government agencies, Non-governmental organizations, and chambers of commerce to collect information. The market research design uses information from the following sources:

• Commercial sources
• Public sources like the library, government libraries.
• Educational institutions.

Businesses use these techniques to design and implement a market research strategy in different aspects of the market, customer, and the products. Market research can be design in the following categories :

• Brand research
• Product development
• Competitive effectiveness
• Competitive analysis
• Customer satisfaction research
• Consumer insights
• Usability testing research.