1. According to the purpose of the research, it is divided into exploratory research and descriptive research
The purpose of market research refers to the main objectives and desired results of the research. Depending on the purpose of the research, market research can be divided into exploratory research and descriptive research.
1.Exploratory research.
Exploratory research refers to a kind of research that collects some preliminary information to identify and define a problem or opportunity when the market problem or opportunity is unclear. Exploratory research is characterized by a wide range of methods, flexible methods, qualitative data, and uncertain results. The main purpose of exploratory research is to provide direction and basis for subsequent descriptive research or other decision-making.
Common methods of exploratory research include: literature review, expert interviews, focus groups, in-depth interviews, project methods, etc.
For example, the consulting firm provided exploratory research services to an emerging ** education platform to help the platform understand the needs and characteristics of the target market, as well as the state of the competitive environment. Through a review of relevant literature and reports, interviews with industry experts and opinion leaders, focus groups and in-depth interviews with potential consumers and teachers, and project-based testing of the functionality and design of the platform, the consulting firm collected a wealth of information and feedback, from which it identified market problems and opportunities, and provided valuable suggestions for the positioning and strategy development of the platform.
2.Descriptive research.
Descriptive research refers to a kind of research that describes and analyzes a problem or opportunity by collecting some specific information when the market problem or opportunity has been identified. Descriptive research is characterized by clear scope, standardized methodology, quantitative data, and reliable results. The main purpose of descriptive research is to inform and support the final decision.
Common methods of descriptive research include: questionnaire survey, observation method, experimental method, panel method, etc.
For example, the consulting firm provided descriptive research services to a well-known FMCG brand to help the brand assess the market potential and consumer acceptance of its new products, as well as its differentiation from competitors. The consulting firm collected a large amount of data and indicators to describe and analyze the needs and preferences of the market by conducting questionnaires on consumers in the target market, observing their purchase and use behavior, experimenting with their reactions to new products, and tracking their purchase and use frequency on a panel, providing a strong basis for pricing, ** and distribution of the brand's new products.
2. According to the object of the survey, it is divided into consumer research and competitor research
The target of market research refers to the market participants that are the main focus of the research. Depending on the object of the survey, market research can be divided into consumer research and competitor research.
1.Consumer research.
Consumer research refers to a type of research that surveys potential or existing consumers in the market. Consumer research is characterized by a variety of subjects, rich content, and significant impact. The main purpose of consumer research is to understand the characteristics, needs, preferences, satisfaction, loyalty, purchase and usage behavior of consumers, etc., in order to provide guidance and support for the company's product development, market positioning, marketing strategy, etc.
Common methods of consumer research include: questionnaire survey, observation method, experimental method, panel method, focus group, in-depth interview, project method, etc.
For example, the consulting company has provided consumer research services for a leading automobile manufacturer, aiming to help the manufacturer understand the attitudes and intentions of consumers in its target market towards new energy vehicles, as well as their expectations and evaluations of the vehicle's functionality, performance, safety, environmental protection, etc. The consulting company has collected comprehensive and in-depth information and feedback through questionnaire surveys, observation methods, experimental methods, panel methods, focus groups, in-depth interviews, project methods and other methods for consumers in the target market, from which we have understood the characteristics, needs, preferences, satisfaction, loyalty, purchase and use behaviors of consumers, etc., which provides a valuable reference for the product development, market positioning, marketing strategy and so on of the manufacturer's new energy vehicles.
2.Competitor research.
Competitor research refers to a type of research that conducts research on existing or potential competitors in the market. The characteristics of competitor research are: the object is clear, the content is critical, and it is difficult. The main purpose of competitor research is to understand the characteristics, strengths, weaknesses, strategies, dynamics, performance, etc. of competitors, so as to provide guidance and support for the company's competitive analysis, competitive strategy, competitive advantage, etc.
Common methods of competitor research include: literature review, expert interviews, mystery shopper method, competitor analysis, strategic group analysis, SWOT analysis, etc.
For example, a consulting firm provided competitor research services to an international hotel group to help the group understand its competitive position in the target market, as well as its differences and advantages from its main competitors. The consulting company collects key and powerful information and indicators through a review of relevant literature and reports, interviews with industry experts and opinion leaders, mystery shopping method for competitors' hotels, competitive product analysis of competitors' products, services, ** brands, etc., strategic group analysis of competitors' strategies, goals, resources, etc., and SWOT analysis of competitors' strengths, weaknesses, opportunities, threats, etc., to understand the characteristics and advantages of competitors. Disadvantages, strategies, dynamics, performance, etc., provide strong support for the group's competitive analysis, competitive strategy, competitive advantage, etc.
3. According to the research method, it is divided into quantitative research and qualitative research
The method of market research refers to the main techniques and means of research. Depending on the research method, market research can be divided into quantitative research and qualitative research.
1.Quantitative research.
Quantitative research refers to the collection and analysis of quantifiable data to describe and explain market phenomena. Quantitative research is characterized by objective data, reliable results, and a wide range of applications. The main purpose of quantitative research is to reveal the laws, trends, and influencing factors of the market through data statistics, analysis, inference, etc., so as to provide a scientific and effective basis for enterprise decision-making.
The common methods of quantitative research are: questionnaire survey, observation method, experimental method, panel method, etc.
For example, a consulting firm provided quantitative research services for a global e-commerce platform to help the platform evaluate its market share, user satisfaction, user loyalty, user conversion rate, user retention rate and other important data and indicators in different countries and regions, as well as its relative advantages and disadvantages compared to competitors. The consulting company conducted a questionnaire survey on the users of the platform, observed its traffic, sales, order volume, return rate, etc. in different countries and regions, experimented with the effect of its marketing activities in different countries and regions, and tracked the purchase and use behavior of users in different countries and regions, collected a large number of quantifiable data, and revealed the market status and user characteristics of the platform in different countries and regions through statistics, analysis, inference, etc. User needs, user behavior, etc., provide a scientific and effective basis for the platform's internationalization strategy, market expansion, user operation, etc.
2.Qualitative research.
Qualitative research refers to the collection and analysis of non-quantifiable data to understand and explain market phenomena. Qualitative research is characterized by subjective data, diverse results, and a narrow scope of application. The main purpose of qualitative research is to reveal the meaning, value, feelings, motivations, etc. of the market through the induction, classification, interpretation, and interpretation of data, so as to provide a profound and inspired basis for the decision-making of enterprises.
Common methods of qualitative research include: focus groups, in-depth interviews, project methods, scenario analysis methods, case analysis methods, etc.
For example, the consulting firm provided qualitative research services to a leading game developer, aiming to understand the feelings, reviews, and suggestions of users in its target market about its new role-playing game, as well as their expectations and requirements for the game's story, characters, graphics, sound effects, and controls. The consulting company collects rich and in-depth information and feedback through a variety of methods such as focus groups, in-depth interviews, project methods, scenario analysis methods, case analysis methods, etc., and reveals the meaning, value, feelings, and motivations of users for the game through induction, classification, explanation, interpretation, etc., which provides a profound and inspiring basis for the developer's game design, game optimization, game marketing, etc.
Fourth, according to the time of the survey, it is divided into cross-sectional survey and longitudinal survey
The time of market research refers to the main time frame and characteristics of the research. According to the different time of the survey, market research can be divided into cross-sectional research and longitudinal research.
1.Cross-sectional survey.
A cross-sectional survey is a survey of one or more samples in the market at a specific point in time or a period of time. Cross-sectional surveys are characterized by short time, low cost, high efficiency, and are suitable for description and comparison. The main purpose of cross-sectional research is to describe and compare the current situation, differences, correlations, etc. of the market through a quick and simple survey of one or more samples of the market, so as to provide an immediate and effective basis for the company's decision-making.
Common methods of cross-sectional investigation are: questionnaire survey, observation method, experimental method, etc.
For example, the consulting firm provided cross-sectional research services to a domestic film production company to help the company assess the market performance of its new romantic comedy film and its competitiveness with other genres released in the same period. The consulting company conducted a questionnaire survey on the audience of the film, observed its box office, film scheduling, attendance rate in different regions and theaters, and conducted experiments on its **, clicks, reviews, etc. on different publicity channels and platforms, collected some immediate and effective data, and evaluated the market performance, market feedback, market potential, and its competitiveness with other types of films released at the same time through the method of description and comparison, for the company's film production, film promotion, Film analysis, etc., provides an immediate and effective basis.
2.Longitudinal survey.
Longitudinal survey refers to a type of research that conducts multiple or continuous surveys on one or more samples in the market over a long time span. The characteristics of longitudinal survey are: long time, high cost, low efficiency, suitable for tracking and **. The main purpose of longitudinal research is to track and improve market changes, developments, influencing factors, etc. through multiple or continuous surveys of one or more samples of the market, so as to provide a long-term and forward-looking basis for enterprise decision-making.
The common methods of longitudinal survey are: panel method, trend analysis method, regression analysis method, time series analysis method, etc.
For example, the consulting company has provided longitudinal research services for an international cosmetics brand, aiming to help the brand track its market share, brand awareness, brand image, brand loyalty and other important data and indicators in different countries and regions, as well as its relationship with market changes, development, influencing factors, etc. The consulting company has collected some long-term and forward-looking data through the panel method of the brand's users, the trend analysis method, regression analysis method, time series analysis method and other methods for the changes, development, and influencing factors of the market in different countries and regions, and evaluated the market status, brand characteristics, brand demand, brand behavior, etc. of the brand in different countries and regions through tracking and leading methods, so as to provide the brand with international strategy and market expansion. Brand operation provides a long-term and forward-looking basis.
Conclusion
Market research is a method of collecting, analyzing, and interpreting market-related information designed to help businesses make better decisions. Market research can be divided into different types and can be classified in different ways depending on its purpose, object, method and time. This paper introduces four common classification methods of market research, which are: exploratory research and descriptive research according to the purpose of the research; According to the research object, it is divided into consumer research and competitor research; According to the research method, it is divided into quantitative research and qualitative research; According to the time of the survey, it is divided into cross-sectional survey and longitudinal survey. This article also briefly analyzes the advantages and disadvantages of these types of market research and their application scenarios based on the specific cases of consulting companies serving customers, in order to provide readers with some useful references.