6 Types of Marketing Research and How to Use Them

Market research is a broad process that is often broken down into various types for data collection. Businesses often limit themselves to some popular analytics driven by Google Analytics, Search Console, and website dashboards. 

And yet, this constitutes a much smaller portion of the data. This blog will help you to understand 6 major types of marketing research, so that you may never miss out on the crucial stuff. With that being said, let's dive in 

 

1. Opinion Polls & Surveys 

Polls are like asking a bunch of questions to people to know what they think. You can do it online, on paper, or even face-to-face. It's like when you ask your friends what movie they want to watch. 

Create a simple survey asking questions like, "What's your favourite cupcake flavour?" or "How often do you buy cupcakes?" Share it with your customers through email or social media. Surveys are great because you can reach a lot of people quickly. Make sure your questions are clear and easy to answer. Once you have the responses, look for patterns or trends to understand what your customers want.

Did you know about our blog on 5 Differences Between Qualitative and Quantitative Research?

 

2. Personal Interviews 

Interviews are when you talk directly to people to understand what they feel or think. It's like having a chat with someone to get their opinion. Talk to some of your regular customers while they're browsing your products. Ask them what they like about your pricing and ingredients and if there's anything they wish you would change or add to your list.

Interviews are more personal and allow for deeper insights. Prepare some open-ended questions to encourage people to share their thoughts. Listen carefully to what they say and take notes to identify common themes.

 

3. Focus Groups 

Focus groups are when you gather a small group of people to discuss a topic. It's like having a mini-meeting with a few folks to hear their ideas and opinions. Invite a small group of cupcake lovers to your restaurant for a tasting session. Get their feedback on different flavors, frosting styles, and even packaging ideas.

Focus groups bring people together to discuss a specific topic. Choose participants who represent your target market and create a comfortable environment where they can share their opinions freely. Use open-ended questions to spark discussion and encourage everyone to participate.

 

4. Market Analysis 

Market analysis is like studying the big picture of what's happening in your industry or market. It's like checking out what your competitors are doing and what trends are popular. Look at what other brands in your niche are doing. Are there any new trends you could try? Are there gaps in the market that you could fill with your unique products? 

Market analysis involves looking at data and information about your industry or market. This could include things like sales data, customer demographics, or industry reports. Use this information to identify opportunities and stay ahead of trends.

Also Read: What are Consumer Insights: Meaning, Examples and Scope

 

5. Product Testing 

Product testing is when you let people try out your product to see if they like it or not. It's like giving out samples of your new ice cream flavour to see if people think it's tasty. Offer samples of new cupcake flavours to your customers and ask for their opinions. You could even host a tasting event where people vote for their favourite flavour.  

Product testing allows you to get real-world feedback on your cupcakes. Offer samples to your customers and ask for their honest opinions. You could also try blind taste tests to see which flavours come out on top.

 

6. Social Media Listening 

Social media listening is like eavesdropping on conversations happening on social media. It's like paying attention to what people are saying about your brand or products online.  Keep an eye on social media for mentions of your brand. Pay attention to what people are saying and respond to any feedback or questions they have.

Social media is a treasure trove of information about your customers. Use tools to monitor online reviews and see what people are saying. Engage with your audience by responding to comments and messages.

By combining these methods, you can paint a comprehensive picture of your market and your customers. This will help you make informed decisions about your bakery and create marketing strategies that people can't ignore!

Let’s call it a day and wrap up this energetic blog! Explore more articles by our research team to grasp crucial information about marketing research. 

 

Check out this blog on Top 10 Market Research Tools and Software