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 leicester

Leicester lies on the River Soar and at the edge of the English National Forest.

The city is close to the M1 motorway, and is on the Midland Main Line from London St Pancras International to Sheffield, Nottingham and Leeds.

Major industries in Leicester today include food processing, hosiery, knitwear, engineering, electronics, printing and plastics.

Engineering is an important part of the economy of Leicester. Companies include Jones & Shipman (machine tools and control systems), Richards Engineering (foundry equipment), Transmon Engineering (materials handling equipment) and Trelleborg (suspension components for rail, marine, and industrial applications).

Equally well known is the Walkers Crisp brand which currently makes 10 million bags of crisps per day at two factories at Beaumont Leys. It is the UK's largest grocery brand.

Leicester is home to two universities, the University of Leicester, and the De Montfort University.