TYPES OF MARKETING RESEARCH

TYPES OF MARKETING RESEARCH

i. EXPLORATORY RESEARCH
This is a types of research in which the major emphasis on gaining ideas and insights; it is particularly helpful in breaking broad, vague problem statements into smaller, more precise sub problem statements.

ii. DESCRIPTIVE RESEARCH
A research in which the major emphasis is on determining the frequency with which something occurs or the extent to which two variable covary.

iii. CASUAL RESEARCH
A type of research in which the major emphasis is one determining cause – and effect relationships.

CLASSIFICATION OF MARKETING RESEARCH
Marketing research is classified into the following:-

I. PROBLEM IDENTIFICATION RESEARCH
Research that is undertaken to help identify problems that are, perhaps, not apparent on the surface and yet exist or are likely to arise in the future. Examples of problem identification research include market potential, market share, brand or company image, market characteristics, sales analysis, short – range forecasting, long-range forecasting, and business trends research.

II. PROBLEM – SOLVING RESEARCH
Once a problem or opportunity has been identified, problem – solving research is undertaken to arrive at a solution. The findings of problem – solving research are used in making decisions that will solve specific marketing problems. Most companies conduct problem – solving research. Issues addressed to problem – solving research include segmentation, product, pricing, promotion and distribution research.