When important decisions need to be made, including about product or service development strategy.
When you need to evaluate the efficiency of work and understand how to improve it.
When it is necessary to find the causes of a problem.
Ideally, this should not be a one-time event, but a continuous process of studying the market, consumers and competitors. Successful companies conduct marketing research regularly, which allows them to develop steadily and remain competitive in the long term.
Here are examples of specific problems that can be solved with the help of marketing research:
Identify trends, assess the dynamics of market changes.
Study your customers, find out their expectations, pain points and needs.
Assess your competitors, find their strengths and weaknesses.
Identify successful strategies that other companies have used.
Assess the company's position in the market.
Plan the release of new products and measure the level of demand for them.
Set optimal prices for your product or service.
Select sales channels, including online and offline.
Find effective promotion channels that suit your target audience.
Test the advertisement and choose the most effective one.
Assess the company's service and the level of loyalty of its customers.
To solve each problem, different types of research must be used.
There are two main types of marketing research - desk and field. Field, in turn, is divided into qualitative and quantitative. For some purposes, several methods must be used. Such a comprehensive marketing research is called combined.
To solve business problems, you can use different methods of marketing research
Desk research
Another name is "secondary research". This is the collection and analysis venezuela phone number list of statistical data that is already available in open sources or on the company's internal resources.
For example, information about the market is presented on the Rosstat website . This is the Federal State Statistics Service of Russia, which regularly collects information about the country's population and the state of various business sectors. Including detailed data on individual cities and regions.
Information on the company's clients is in the CRM system . And data on the effectiveness of advertising and marketing is in the end-to-end analytics service , if you have it set up.
You can study your competitors by visiting their websites and reading reviews on social networks and forums. Industry trends are covered in specialized publications on the Internet, etc.
Sometimes, information from available sources may be enough for research. Often, this is free - only the time of specialists who collect and analyze the data is paid for. The downside of this type of marketing research is that there are no ready answers to some questions. In this case, they resort to direct data collection - field research.