TYPES OF MARKET RESEARCH
Today I’m going to share the DAY 2 task conducted by the INTERNITY FOUNDATION about the information regarding types of market research and how it has been helping the industries and various business concern. There are two types of market research

a) Qualitative market research b) Quantitative market research

Qualitative Research methods are specific procedures for collecting and analyzing data. Here are some of the types

a) Focus groups

A focus group involves a limited number of participants used for data collection. Such a target audience is there to find the responses to ‘what’, ‘how’, and ‘why’ questions. online surveys can be sent on several devices to collect the answers.

b) Interviews

The benefits of this approach include collecting data about what people believe and what their motivations are. Such interviews can be conducted face-to-face or on the telephone.

c) Ethnographic Research

This model is the most popular and widely recognized method. It analyzes people in their naturally occurring environment. The main goal is to learn the motivations, cultural challenges, and settings that happen

Example: You have to analyze the day to day activity of the customers how they interact with the product.

d) Case study

The case study approach occurs over extended periods of time to compile information. It involves an in-depth understanding of a subject such as an event, person, business, or place. Similarly, the data is collected from various sources, including interviews, direct observation, and historical documentation.

These are the varoius types of qualitative market research was accepted by the most number of business concerns. Now we are going to see the Quantitive market research

#1 – Survey Research

Using the survey research as the method of research, an organization conducting survey ask different survey questions from the respondents using the various types like online surveys, online polls, paper questionnaires, etc. and then collect data and analyze collected data in order to produce the numerical results.

#2 – Causal-Comparative Research

The Causal-Comparative Research method is used to draw conclusions with respect to the cause and effect equation between the two or more than two variables, where the one variable will be dependent on other variables, which will be independent.

#3 – Experimental Research

This analysis is done for the purpose of proving or for disproving the statement. It is generally used in the field of natural sciences or in the field of social sciences as in those areas; various statements are there which required to be proved as right or wrong

#4 – Correlation Research

Correlation Research was conducted for establishing a relationship between the two closely associated entities to knowing the impact of one on the other and the changes which eventually observed. It is carried for giving value to the naturally occurring relationships. For this research minimum, two different groups will be required.

— GOKUL.C
['C Gokul']
['Marketing', 'Surveys', 'Case Study', 'Technology']