What is marketing research for?

Depending on the objects that need to be studied, marketing research can be divided into several groups.

Consumer research

Studies provide an opportunity to get information about the age, social and family status of consumers, their financial status, lifestyle, habits, tastes and desires. You can find out how the company and its products are known to the target audience, what is the customer loyalty, the reasons for discontent.
Regardless of who represented the target audience: individuals or legal entities, families or people individually, it is possible to find out the expectations of customers. After analyzing these intentions, it is possible to assess the degree of realization of their desires.
The information obtained makes it possible to meet the needs of the target audience to the maximum, to develop effective strategies for the promotion of goods and services.

Market research

Market analysis in marketing allows you to determine the number and strength of competitors, the distribution of market shares between the main players.In the process of research there is an opportunity to get information about the strategy, tactics and threats of competitors. Based on these data, you can build a business development strategy, identify competitive advantages and weaknesses of your own company, make an effective action plan.
Market research allows us to determine the seasonality of demand: for what period is its maximum and minimum. This information is necessary for successful work and profit.

Examination of the goods

Market research provides an opportunity to determine the share of real buyers of goods and services, their degree of satisfaction. It is possible to obtain information on non-standard uses of products, problems arising in the process of consumption.
Feedback from the target audience gives a chance to improve the packaging of the product, its characteristics and quality. This will attract more customers, increase their loyalty to the company and increase revenues.

Studying the price and promotion

Studying consumer opinions and reviews helps to assign the best value to a product or service that will satisfy most customers.In the course of research, one can obtain data on consumer reactions to discounts, coupons, promotions, as well as underreporting and price increases.
With the help of marketing research, you can determine effective advertising channels, ways to promote the company's products. They provide an opportunity to get information about media preferences of the audience.