Types of market research
1) Personal interviews
Personal interviews, as the name implies, allow you to converse face-to-face (personally or online) with your target clients so that the customer can have an interactive and streamlined dialogue with you while also getting a closer look at the customer’s experience or being more humanitarian.
2) The focal group
Strange name, right? The origin of this name comes from the focus or center, and it is called Focus Group.
It is a pivotal part of understanding what market research is in detail, and this group includes carefully selected people who you choose—I mean, your brand, of course—to try your product, answer some questions, and obtain preliminary reviews of the product or service.
These data that they will provide you with at this early stage, prior to or during the launch or improvement of your product, will help you predict the reactions of other customers and how you can avoid any errors or losses down the road.
3) Conduct market research on the product or service.
As we said earlier, it may really surprise you how your customers see your product or service. They may notice features that were not calculated for them, or they may have overlooked other features that they previously thought were obvious.
This type of research provides a better idea of how and why your target audience will use your product or service, or specific features in it. This is in addition to the effectiveness and ease of using this product for them.
4) The search is based on observation.
In this research, all you have to do is sit and watch how and when your target customers use your offers, at the same time that you monitor the efficiency of the user experience, the obstacles they face, and the facilities that you can provide them for a better experience.
5) Research the personality of the buyer.
The customer who buys from you is not just a credit card, and you should not see it. You should know everything you can about him until you know his interior and the opportunities that enable you to gain confidence.
Jupiter’s personality research represents a deeper level of detail for the perfect customer, who represents your target class as a whole.
This research includes everything from the challenges he faces in his life to what he expects from your product or service, their purchasing behavior as a whole, and his personal and demographic features.
6) Market division research
Complementing the previous point, you have to build several formations of this perfect character for the customer (the buyer’s personality).
This research helps you divide and classify buyers’ personalities into groups according to their various characteristics.
In this way, you will be able to determine the most effective ways to satisfy their needs according to their individual features and to know their weaknesses, expectations, goals, and even the quality of their interests and hobbies.
7) Price comparison
Although everyone wants to confirm their products at the highest possible price, it does not go this way.
This type of research enables you to know the common prices of your product or your service in the target market and what is expected, and your customers can pay for this offer.
Price searches are an essential part of understanding what market research is and how to implement it professionally because they will help you determine the prices of your offers without losing their value or being exaggerated.
8) Research competition
Most, if not all, of the conditions indicate that there are competitors in the market you are targeting, and your product will not be the only option for customers, but thankfully, there are searching competitors to save you.
This research enables you to understand the competition in the market and the field in which you will launch your project. Through it, you can understand the most successful methods and strategies, what customers prefer in products or similar services, the most important competitors that you should work to overcome and excel at, and how you can distinguish yourself in this competition.
9) Customer satisfaction and loyalty research
Of course, you hope that the first idea will be the first thing in the morning—to choose you every time and tell everyone about you. Although it is a difficult dream, it is possible to investigate, and it begins here.
This research gives you a better idea of how to attract your current customers to choose and return to you every time, your preference for your competitors, and the ways they love to be motivated and encouraged. such as gifts, customer loyalty programs, excellent customer service, and others.
10) Brand awareness research
You may try to put yourself on the market in a certain way, but its effect on your customers is not the same as what you wanted.
This research tells you what customers know about your brand and how they compare it to others’. It tells you about their reactions or ideas that come to them when they think about your company or what they think it is.
11) Research the propaganda campaign.
If you have previously been promoted—of any kind—you should not bury it with history; you may be a treasure for your future success even if you have mostly succeeded.
This type analyzes the success of your previous campaigns and their impact on the target audience and current customers. This type necessitates a thorough search for those who influenced your customers and associated these campaigns in their minds, as well as how you can incorporate these elements into future campaigns.
Read also: What is market research and how do you implement it
