Types Of Market Research

There are two main types of market research:

1) Business to business (or industrial market research)

2) Consumer

Business to business market research focuses on data gathered from business clients and produces conclusions and strategy direction.

Consumer market research focuses on trends gathered from data and attempts to predict buying patterns, future needs and sales approaches.

Gathering information from these different groups requires different techniques and approaches.

Consumers tend to be busy and therefore more dismissive of market research so any approaches need to be focused. Speed is often the key whilst still preserving the outcome of the research. Offering incentives to complete the market research is essential.

Businesses have more time available and can provide some quality indepth research. The key is to choose the target audience carefully and to work with them in focus groups or one to one situations (eg. interviews, telephone research etc).

A subset within these two types of market research are:

1) Ad Hoc - This is research carried out at a point in time with a view to collecting data applicable to that point in time. Examples might be a customer satisfaction survey or a product usage survey.

2) Continuous Research - This is research carried out at different time periods to show time series results. Examples would be focus groups or one to one interviews. The key is that the target audience remains the same - or at least similar each time.

Whichever type of market research you use, with careful planning, it will reap rewards.

For more information on types of market research, please click the link below:

types of market research derby

Derby lies on the banks of the River Derwent in the East Midlands.

Derby and Derbyshire were centres of Britain’s industrial revolution, which in the 18th century saw many cotton spinning mills being opened.

The beginning of the following century saw Derby emerge as an engineering centre, with manufacturers such as James Fox, who exported machine tools to Russia.

This tradition has continued, with Derby’s two biggest employers being Rolls-Royce and the Toyota Motor Corporation both being in the engineering manufacturing trade. Other companies include Bombardier, who manufacture train systems and aircraft, and Alstom, who manufacture large power plant boilers and heat exchangers.

Derby’s central location means it has extensive transport links with other areas of the country, the M1 motorway passes ten miles to the east of the city linking south to London and north to Sheffield and Leeds, making it ideal as a distribution centre.

East Midlands Airport is situated about fifteen miles from Derby, with services to a variety of internal and European destinations.

Derby is home to the University of Derby, which has two campuses, the main one lies on the A38 opposite Markeaton Park with a second campus in Buxton, known as the Devonshire campus, a grade II listed building which has a dome over 145ft in diameter, bigger than that of St Paul's Cathedral in London.