Marketing Research
Marketing research is the process of collecting and analysing data about the market, competitors, audiences, and products. Qualitative research methods answer the question “why” and include in-depth interviews, focus groups, and observations. Quantitative methods show “how many” and include surveys, panels, and statistics.
Marketing research reduces business risks, such as launching an unnecessary product, choosing an uncompetitive positioning strategy, or using unsuitable communication channels.
How Marketing Research Is Conducted
The research objective is defined, and the questions that need to be answered are formulated, such as assessing demand for a product, understanding audience needs, or evaluating competitors’ positions.
Suitable data collection methods are selected, including surveys, interviews, market analysis, studies of user behaviour, or competitor research.
The collected data is organised and analysed to identify patterns, opportunities, and problems.
Based on the data collected, decisions are made about brand development, positioning, communication with the audience, and other related areas.