Many people, especially those who do not have specialist knowledge in the field of marketing research and market research, consider these concepts to be identical and use them interchangeably. This is a wrong approach, because it leads to a kind of blurring of sometimes difficult to see, but important differences.
Detailed differentiation between market and marketing research allows not only to capture the essence of the differences between these concepts. Above all, their proper application in marketing and commercial practice. This plays a significant role in learning about the surrounding market and organizational reality.
Marketing Research vs. Market Research:
The fundamental, although not the only aspect determining the fact that market research and marketing research are different practices, is the difference in their purpose . This means that their application is completely different, because market research is mainly focused on learning and in-depth analysis of the surrounding market reality. Marketing research focuses primarily on determining the status of the organization and its position on the market . Both types of research focus on selected areas, and the results of these analyses have a direct impact on the development strategy of the organization.
The impact of each organization on the market and the market on each organization is an obvious issue that can never be ignored or underestimated. Both during the creation of research methods and the analysis and interpretation of results. In order to clearly indicate the two-way dependencies, for the purposes of this explanation, the enterprise can be considered a micro object. on the macro level, which is the entire market. The influences of both constantly interpenetrate, influencing each other. Perhaps it is this dependence of the way the organization functions on the realities of the market. The opposite – the specificity of the market determined by the functioning of the organization is the reason why market and marketing research are wrongly perceived as identical . So, what areas do market research cover, and what areas do marketing research cover?
Areas of marketing research
As mentioned, the essence of marketing research is to diagnose the situation in which a given company is located, and thus – what position on the market it occupies. In light of this, stockholder database research serves to obtain an answer to the question of what further marketing strategy to adopt in order to stay on this market, and what is more – to occupy the position to which the organization aspires.
The objectives of marketing research focus on:
- Analyzing the brand image on the market, i.e. how it is perceived by consumers. This image is consistent with the assumptions of the company’s marketing strategy,
- interpretation of external and internal phenomena. Observed in the enterprise, e.g. concerning the resources it has at its disposal and outside it, e.g. recognition of competition or consumer behavior,
- verification of the effectiveness of implemented advertising and promotional activities. Translation of the investment (time, knowledge, finances) into real profits of the organization,
- getting to know the characteristics of a persona, i.e. a representative of the target group to which the company’s product or service offer is directed, and verifying the compliance of its actual characteristics with the assumed ones,
- analysis of sales results.
Market Research Areas
To answer the question of what market research is, it is worth indicating the type of issues. The scope of interests of market research specialists, as well as entrepreneurs who commission their analyses.
Market research objectives typically focus on:
- Capturing the relationship between demand and supply for products or services. The relationship between the demand that consumers have and the ability of a given company to meet these needs. At the same time, the profitability of selling products or providing services.
- Thereby increasing demand and translating into the company’s profits. This is a more detailed type of study of the relationship between demand and supply,
- Providing specific services, will meet with consumer interest. The desire to so-called re-industry it.
Market research objectives vs. marketing research objectives
They should be treated as specific partial goals. Because the primary goal of undertaking any analyses. Both at the enterprise and market level is to branding agency: why choosing the right one matters introduce a real change that will have a direct impact on the organization’s profits. Depending on the results of the marketing research of the market or the enterprise. Different actions will be taken on a different scale. They do not directly translate into an increase in demand, and therefore do not generate profits. The implemented changes will certainly include a correction of the marketing strategy. However, if the result of the marketing research of the market indicated.
Marketing Research vs. Market Research – Summary
It is worth remembering that many of the above-mentioned aspects of the company are closely related. However, yeezy 350 boost v2s campaign, therefore studying and interpreting them separately or studying one to the exclusion of the other is unjustified. It will provide a false, or at best incomplete, picture of the organization’s market position.
Similarly to marketing research, in the case of market research, individual issues should not be subjected to individual analyses. Such analyses that consist in quantitative or qualitative determination of the properties of a given research area. Without taking into account another, if they are interdependent, and therefore interact with each other or unidirectionally.
