Have you ever wondered why the manufacturer so easily guesses the desires of consumers, knows when to offer the right product, and at a certain moment offers something completely new, but so necessary for every person? Everything is simple - the manufacturer studies its consumer, or rather conducts marketing research, with the goal of being one step ahead of the buyer.
What is market research
If you give a clear and short explanation of what marketing research is, it is a search for the necessary information, its collection and further analysis in any field of activity. For a broader definition, it is worth analyzing the main stages of the study, which sometimes lasts for years. But in the final version - this is the beginning and end of any marketing activity at the enterprise (product creation, promotion, expansion of the line, etc.). Before the product appears on the shelves, marketers examine consumers, while first they conduct an initial collection of information, and then a desk study to draw the right conclusion and move in the right direction.
Research objectives
Before conducting research, you need to understand what kind of problem the company has or what strategic goals it wants to achieve in order to head it and understand how to find a solution, which means conducting desk research and fieldwork, while initially setting specific tasks. In a generalized form, the following tasks are distinguished:
- Collection, processing and analysis of information.
- Market research: capacity, supply and demand.
- Assess your capabilities and competitors.
- Analysis of the product or service.
All these tasks must be solved step by step. Surely there will be questions highly specialized or generalized. Depending on the task , research methods will be selected that go through certain stages.
Stages of Marketing Research
Despite the fact that marketing research is often carried out, and they all differ from each other, there is a certain plan that everyone should adhere to, which means conducting the study in stages. There are about 5 stages:
- Identifying problems, formulating goals and finding a way to solve problems. This also includes setting goals.
- Selection of information sources for analysis and problem solving using desk research. As a rule, firms on the basis of their data can identify what kind of problem they have and understand how to solve it without going out of the box.
- If the enterprise has insufficient data, and new information is needed, then it will be necessary to conduct field research, determining the size, structure of the sample and of course the object of study. These two important steps need to be written in more detail.
- After collecting the data, it is necessary to analyze them, first, by structuring, for example, in a table, to make the analysis easier.
- The last stage, as a rule, is the conclusion reached, which can be brief and detailed. It can be both recommendations and wishes, what is best done for the company. But the final conclusion is made by the head of the enterprise, after familiarizing himself with the study.
Types of research information collection
As mentioned above, there are two types of information collection, and you can use both of them at once or choose only one. There are field studies (or the collection of primary information) and desk research (i.e., the collection of secondary information). Each self-respecting enterprise, as a rule, conducts both field and cabinet information gatherings, although a considerable budget is spent on this. But this approach allows you to collect more relevant data and draw more accurate conclusions.
Primary information and methods for its collection
Before you go to collect information, you need to determine how much you need to collect, and which method to solve the problem is best suited. The researcher participates directly himself and uses the following methods of collecting primary information:
- A survey is written, oral by phone or via the Internet, when people are asked to answer several questions, choosing one of the options offered or giving a detailed answer.
- Observation or analysis of the behavior of people in a given situation in order to understand what moves a person, why he performs such actions. But there is a drawback of this method - they do not always correctly analyze actions.
- An experiment - the study of the dependence of some factors on others, when one factor changes, it is necessary to identify how it affects all other binders
Methods of collecting primary information allow you to obtain data on the state of demand for a service or product at a specific time and place with individual consumers. Further, based on the data obtained, certain conclusions are drawn that can help solve the problem. If this is not enough, then it is worthwhile to conduct additional research or use several methods and types of research.
Desk study
Secondary information is already available data from various sources, on the basis of which it is possible to make an analysis and obtain certain results. Moreover, the sources of their production can be both external and internal.
The internal data include the data of the company itself, for example, turnover, statistics of purchases and expenses, sales volume, raw material costs, etc. - everything that the company has at its disposal must be used. Such desk-based marketing research sometimes helps to solve a problem where it was not visible and even find new ideas that can be implemented.
External sources of information are available to everyone. They can look like books and newspapers, publications of general statistical data, the work of scientists on achieving something, reports on activities undertaken, and much more that may be interesting for a particular enterprise.
Pros and cons of collecting secondary information
The desk research method has its own advantages and disadvantages, and therefore, when conducting a study, it is recommended to use two types at once in order to obtain more complete information.
Advantages of obtaining secondary information:
- lower research costs (sometimes they are only equal to the time spent);
- if the research tasks are simple enough, and the question of creating a new product is not posed , then, as a rule, secondary information is enough;
- quick collection of materials;
- obtaining information from several sources at once.
Disadvantages of obtaining secondary information:
- data from external sources is accessible to everyone, and competitors can easily use it;
- accessible information is often general in nature and is not always suitable for a specific target audience;
- information quickly becomes obsolete and may not be complete.