Marketing Research VS Market Research
Helen Bustamante Castro
Market research versus marketing research
Market research and marketingresearch are often used together, mixing its fields and understanding. This approach is dangerous for its success because of your expectations and the way both need to be carried out.
The differences inapproach
Both market research and marketing research have their definitions. By well reading these definitions it will become clear what type of research is needed:
* Should you requirequalified data on your own offer (product and services) or your current customers, then the marketing research will apply.
* Should you require more information on the market situation, non currentcustomers or linked offers (competitive or substitutes) you’d direct your research to market research.
Inside – outside
It can be stated that when information is linked to the inside only of thecompany, marketing research will do. For information regarding the company’s environment, market research is more adapted. This outside type of information obtained from market research isespecially appropriate when detecting new markets. As a result, an offer that already exists on the market can have its appreciation studied by the use of marketing research.
Quantify or qualify
Othermeans of separating both types of research is by choosing between quantitative qualitative understandings.
Market research will provide more global information - often carried out in panels andgrouped studies combining questions from companies in the same environment. For this reason it is possible to obtain more general information and on a larger scale. The questions however remain on anoverall level and may require further – in depth- study afterwards.
Market research can more easily be carried out by an external company since more global data are required such as: