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Evaluates the overall market, including economic trends and supply/demand curves
? Product Research? Evaluates what products can practically be produced and what products already produced should continue production
? Advertising Research? Designed to improve the efficiency of advertising.
Forms of Market Research
? Market Research is accomplished through many different techniques which include:
? Ad tracking
? Advertising research
? Brand name testing
? Consumer decision process research
? Consumer satisfaction studies
? Demand estimation
? Mystery shopping
? Price elasticity testing
? Test Marketing
Market Research Methods
? Qualitative Marketing Research
? Used to evaluate the usefulness, effectiveness and practicality of a product or service in a small controlled environment
? Quantitative Marketing Research
? Used to draw conclusions for a specific question...
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