Posted in Marketing and Strategy Terms, Total Reads: 4473
Definition: Consumer Research
Consumer research is the research done on consumers’ preferences, attitudes, loyalty, usage and behavior in a market. It helps in understanding customers so that the marketing campaigns can be designed accordingly.
Consumer research is a part of marketing research.
Market Research deals with processes to understand customers and end consumers which helps the marketer to build market strategy. It helps in analyzing the market using porter’s five forces which deals with the market condition. The strengths, weakness, opportunities and threats are analyzed. They help in defining the marketing goals, generate and define marketing activities, monitor them and improve performance and understanding of the market and consumers. The market research also guides the company in addressing the issues by conducting surveys and get customer opinions.
Marketing research is often partitioned into two categorical pairs
• Consumer marketing research, and
• Business-to-business (B2B) marketing research
Consumer research has two paradigms viz
• Qualitative marketing research- Text analysis
• Quantitative marketing research- Number analysis