Answer to Question #159221 in Management for Prabhdeep

Question #159221

Give examples of different types of Market research designs?


1
Expert's answer
2021-02-01T12:10:36-0500


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.




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