Marketing is the activity, set of institutions, and processes for creating,

communicating, delivering, and exchanging offerings that have value

for customers, clients, partners, and society at large.

Definition of Marketing Research

Marketing research is the function that links the consumer, customer, and public to the
marketer through information—information used to identify and define opportunities and
problems; generate, refine, and evaluate actions; monitor performance; and improve
understanding of it as a process. It specifies the information required to address these
issues, designs the method for collecting information, manages and implements the
data collection process, analyzes the results, and communicates the findings and their
implications.

What is marketing research?

Marketing research encompasses a range of activities aimed at gathering
information and data to help your company better understand its target
market. Once you capture market research data, you can then leverage it  to
introduce or upgrade products, improve the customer experience, craft a
sharper marketing position, or help guide business decisions.  

Need help identifying your target market? We’re here to help. 

The marketing research process focuses on collecting insights from your

target audience, such as their opinions and attitudes that would help you
evaluate current products, services, or test concepts aimed at improving them.
It can also gauge customer perceptions about your company. This is best
known as brand tracking. 
Benefits of marketing research
Good marketing research has myriad benefits. At its core, marketing research
replaces assumptions and go-with-your gut decision-making with data-driven
insights to inform smarter strategy and tactics.

The overarching benefit of marketing research is to gain a deep

understanding of your customers or prospects so you can take actions that
will resonate with them to build greater customer loyalty, increase
engagement and ultimately, grow your business. 

Data captured from surveys, interviews and other methods reveal customer
behaviors that indicate why they buy particular products or take certain
actions. Typically, most products are designed to solve a customer’s problem.
The marketing research process gets to the root of those problems, paving
the way to develop new products, services and support that connect with
customers and help solve their challenges.

Try this additional resource:  How to identify and reach your target market with
surveys

A common focus of marketing research is concept testing: the process of

determining if a new product will be a hit with customers. 

Based on analysis of the data and information captured, your company can
develop and execute on a plan to more effectively launch a new product or
service, or refine their branding and marketing position.

Examples of the marketing research process

Dove Soap early 2000s “Campaign for real beauty” offers a gorgeous
example of effective marketing research delivering game-changing results.
Relying on their internal research and insights from a global study "The real
truth about beauty report," that found only 2% of respondents claimed to be
beautiful.

The subsequent campaign aimed to redefine beauty, moving away from using
professional models in their marketing to show women that they are naturally
beautiful. The thinking was that if customers could see themselves in Dove's
advertising, they would feel a deeper affinity for the company and its products.

The campaign was not only a huge win for Dove, but also a catalyst for
marketing with “real people” for a wide range of consumer products and
services.

Of course, there is a bottom line benefit to marketing research as well.

Marketing research saves time and money on wasted efforts by quantifying
what customers want, how much they like the product, and if they intend to
use it. And, if done right, it can help drive increased sales and profitability.

 Learn how to test products, packaging, messaging, concepts, and

more. Market Research Solutions makes it easy. 

The marketing research process

The marketing research process follows a series of sequential steps that allow
you to focus your efforts on understanding and addressing customer
challenges. 

Market research is only as good as the information it collects. That’s why it’s
critical to follow a step-by-step process that all leads to gathering quality
data that is accurate and actionable. The following six steps offer the roadmap
to success:

1.   Define the problem. Focus on the core customer challenge to solve.

2.   Develop your research plan. Create a roadmap that includes identifying

your target audience, as well as determining what research tools to use, and
the timeline and resources for the project.

3.   Gather your information. Whether you use surveys, interviews or other

methods, you will gather and organize your data. You can rely on qualitative
and/or quantitative data to help you get started.

4.   Analyze your data. Review the data for meaningful insights and home in
on key points that will help inform your marketing campaigns and strategies.

5.   Develop a strategy. Determine how your business can shape your future

products and services with the marketing research you’ve just done.

6.   Take action. Plan those next steps, which may include new product
development, further concept testing, a new product launch, or fresh
marketing campaign.

Savvy shortcut: SurveyMonkey’s market research resources offer a one-stop

shop for key information, tools, and resources to expedite your market
research efforts.  
Step 1:  Define the problem

When it comes to executing an effective marketing research process it’s wise

to begin with the end in mind. In short, what do you aim to accomplish through
your research? Clearly understanding the outcome you're aiming for will help
you identify and frame the specific customer problems you want to study and
solve. Ultimately, you want to take a deep dive into the challenges and desires
of your target customers so you can design products and position services
that fully meet their needs and craft supporting messaging that resonates
deeply with them.  

If you frame your problem too broadly, you will get vague answers. Too
narrow and you may not understand enough. Determine the scope of what
you want to study and what conclusions you hope to arrive at.

Think about what decisions will be made based on your research. Are you
testing a concept that will affect the packaging of your product? Are you
gathering information for a new product that will fill a market gap? Ask good
questions and they will help to clarify your outcome.

Brainstorming is a valuable way to arrive at your research problem. Your team

can create lots of potential research questions and narrow them down to
which ones best address your study.

Deeper dive: SurveyMonkey’s market research survey templates offer a

shortcut to developing effective surveys to get the information you need to
make better decisions about your products and services
Step 2:  Develop your research plan

The next step is to develop a plan of action that will drive toward the outcomes
you are seeking and provide a roadmap to keep you on track.

The initial phase of this planning focuses on choosing your data sources –
where you will get the information and insights you are looking for. At the core
of this effort is effectively identifying your target audience. This is essential
because you want to be sure that the feedback and data you gather comes
from the people who are most relevant to what you are researching.
 SurveyMonkey can make sure you survey who you want when you want to
with powerful and easy-to-use audience targeting tools.

If you conduct primary research, you will gather quantitative and qualitative

data about your target audience. This approach includes:

 Surveys that produce quick results directly from your target audience.

SurveyMonkey offers a wide range of market research surveys that can be
tailored to meet your specific needs.

 Interviews with customers and prospects will provide deep insights, but take
longer to conduct. You may use one-on-one interviews or a focus group to
collect direct feedback. You will need to design an appropriate questionnaire.

You may also want to conduct secondary research that collects data from

existing sources. This research is valuable and keeps you from spending
extra time and money on information that is readily available.

Next, select your marketing research methods. Depending on your research

problem, you’ll need to conduct different research methods. Here are several
to consider:

 Observation: Will you be collecting data by observing your target audience’s

behavior? Will you conduct interviews to capture data or use focus groups? 
Will it be in an uncontrolled environment like a store or a controlled
environment like a lab or conference room?

 Survey: Does it make sense to conduct a survey, or series of surveys, to

capture audience feedback?
 Time: Will you collect data at one point in time, or a longitudinal study that
takes place over a longer time period?

 Behavior or experimental: Will you be observing actual consumer behaviors

or setting up an experiment to see how they react to a new product or idea?

 Sampling: How large does your sample size need to be to be relevant to your
study?

 Contact methods:  How will you contact research participants? In their

homes, and office, or virtual interviews?

Going global? SurveyMonkey can help you quickly identify survey participants
from your target audience  in up to 130 countries around the globe.  
Step 3: Collect your information

Now it is time to execute your research plan. A logical place to start is often 
with secondary research to find out what existing data is available from
reputable sources that directly relate to your research question. The benefits
of this are two-fold. Through the process of reviewing secondary research you
gain a deeper understanding of what you are studying. Additionally, you help
ensure that you are not duplicating research so you can focus your primary
research on capturing fresh insights and data.

Unless your topic is brand new and there is no existing data, previous in-
house or industry research, academic journals, and experts in your field may
provide valuable information that contributes to your research.

Your primary research will then begin as you survey, interview, and observe
your research participants. Depending on your research plan, you will have a
combination of qualitative and quantitative data to analyze to substantiate
your research question. 

It is important to be vigilant about any potential researcher biases that may

exist. If you and your team have preconceived notions about how research
participants will react to your questions, you will have to put them aside to
ensure your data is collected according to your research plan.
Step 4: Analyze your data

After your primary and secondary data is collected, you're now ready to shift
to the most meaningful phase of the process—analysis. Typically, researchers
use several statistical methods to analyze their data, including advanced
decision models and predictive analytics. Averages, statistical regression,
spreadsheets and charts may all be part of your analysis.

Setting aside assumptions about what you think the data means allows for
data-driven patterns and trends to emerge that should lead to actionable
insights.  Depending on the research tools you use, analytics and reporting,
like those included in online surveys, will supply ready-to-use information.

Your goal is to discover what your data says about your target audience’s
behavior patterns, attitudes and preferences. You may find that your data
proves or disproves your original research question. It’s important to remain
open to both outcomes. Never fall victim to the temptation to alter the data to
prove you are right. Not only is that unethical, it could lead to actions that
actually run counter to your company’s goal, leading to disappointing, even
disastrous, results.

Your data should be tabulated and ready for the next phase where you
present your findings to your company or research sponsor for their review.
Step 5: Develop a strategy

Depending on who paid for or sponsored the study, you will have to create a
formal research report that outlines your initial question, target audience,
research methods, data collection methods, audience demographics, and
finally your conclusion. You will want to clearly state if you proved or
disproved your research question and outline your conclusions.

Your study conclusions may outline opportunities (or challenges) for your
company or research sponsor. For instance, does your audience like the new
packaging you tested and will they pay the proposed price you asked them in
your survey? Can the company move to the next stage of product
development, or did you research uncover different features that are more
important to customers?

You may present your findings to company leadership, or small groups of

relevant colleagues throughout your organization. Beyond reporting results,
effective presentations often include actionable recommendations based on
your findings. 
Step 6: Take action

Your research findings should serve as a guide to specific actions your

company can take to improve business results or deepen customer
relationships. If your concept testing was successful, it may be time to move
to the product development phase. If your updated branding and logo
received negative reviews, it’s time to go back to the drawing board or make
some major tweaks. If your marketing messaging struck a powerful chord with
your target audience, it likely makes sense to find ways to infuse that
message into marketing materials and other content.
There are numerous other ways to use your research. Updating buyer
personas, or developing new marketing strategies and advertising campaigns
might be the next phase. Your research is a valuable first step in helping
companies spend their resources on products and services that increase their
revenue.

Types of marketing research

Your research plan will include one or more types of marketing research. The
intention of each of these marketing research types is to identify, collect,
analyze, and present specific solutions that your target audience perceives as
a problem.

There are four types of marketing research that are designed to help you
collect data that is appropriate for your audience.
Exploratory research

Have a fresh idea that no one has researched before? That’s the goal of
exploratory research -- to collect information about a problem and insights
about how to solve the problem. As a researcher, you will use secondary data
that currently exists to provide insights about your goal.

You’ll need to remain open to what you discover. The data you collect may
indicate new ways to restructure your research problem or look at it from a
different perspective. As you clarify your concept, collect insights, structure
potential problem statements, and discard impractical ideas, you’ll eventually
arrive at a research problem that you can investigate. The goal is to collect
more information about a topic, not pose or substantiate a solution.
Descriptive research
Descriptive research tests the research question to discover if it is accurate or
inaccurate. This method measures how often and to what extent variables in
the study are correlated.

This approach works if you are asking who would buy the product being
tested, how the products are used, and who are the competitors. You can
collect data through observations, surveys, or interviews. 

Because the researcher records the data, bias can occur.  As opposed to a
survey that is directly filled out by the respondent, the data can be skewed if
the researcher records a response that they personally prefer. 
Causal research

Causal research looks at the cause-and-effect relationship between variables.

If one variable changes, the researcher can record the impact on another
variable. Causal research can answer “what if” questions that include price
changes, packaging changes, adding or removing product changes and more.

This approach is repeatable and can be replicated outside of a single

research study. A potential downside to this approach is perceiving that 
cause-and-effect occurred, when in reality it was mere coincidences. In
addition, if the two variables are closely linked, it can be hard to determine
which variables contribute to the cause or effect.
Predictive research

As the name implies, researchers are looking for what will happen in the
future. They may study future sales growth, user adoption, and market size
based on data collected about product preferences and customer
demographics.
Predictive research taps into demographics, brand preferences and other
marketing data, often combining it with Big Data. The outcome is information
that can predict purchasing trends, product volume, competitor insights and
other datasets that aid in business decisions for marketing, sales, and finance.
Predictive research can help companies decide where to spend their
resources most efficiently.

Marketing research examples

Take pulse on customer satisfaction

As a marketing leader, you can be challenged to make sure customers are

satisfied. But how do you continually collect data to prove, or disprove, that
customers are happy?

Customer satisfaction doesn’t just apply to individual products, it can aldo be

an indication of how the market feels about an entire company. Customer
satisfaction surveys can help marketing departments make product
improvements that retain customers or winback those who have churned.

Solid data for startups

Startups have great ideas that they want to capitalize on. But how do they
know if there is a substantial market for their product or service?

Bridgecare wanted to find out if there was a market for their childcare

financing idea. Was it just gut instinct or was there an untapped market for
parents of children who were going into debt to pay for childcare?

This company conducted a survey that tapped into parents across the US to
validate the business concept. Within 24 hours, the company concept was
validated by a large audience, leading to a new business idea that investors
supported.
Finding a market for product line expansion

You’re a small company with a successful product - mattresses. But how do

customers feel about additional products, like pillows, that seem like a natural
fit to the existing product line?  Is it just an assumption or is there market
potential?

You’ll need the right target market to see if your idea will work. Using surveys
helped this company refine their original product idea, creating a better pillow
based on feedback from survey participants. The company owner found that
they cut their product development time in half by using online surveys, saving
time, money, and frustration.
Using surveys for marketing research

Surveys can be the cornerstone of effective marketing research as they offer

a quick, cost-effective way to collect a large variety of data. Whether you use
short questions, open or closed-ended questions, surveys often are the most
efficient way to gather credible insights from your target population.

Survey reports typically include analytics and charts that are easily interpreted
and incorporated into your report. Depending on the focus of your survey, a
ready-made test bank can be used to reach your ideal customer audience
within hours. Online surveys are a widely used, credible way to get feedback
about important topics that help you perform concept testing, product or
packaging testing.

Clearly, if you want to avoid a “Kodak moment,” you should include market
research as an ongoing tool to guide more informed, data-driven decision-
making. By following an established process, you can be assured that the
 actions your company is taking are in lockstep with the needs and desires of
your customers. 

SurveyMonkey offers reliable, detailed survey test question banks for every
market research need. From product and packaging testing to logo design, we
give you immediate access to the survey respondents that match your target
audience demographics. Get their insights immediately to save time, money,
and lower the risk of an expensive mistake.
7Ps of marketing – Understanding the concept
Since the 1960s, the 4 Ps of marketing have been applied to support the concept of the
mix. The 4Ps are a set of four letters that stand for the following:
 Product
 Price
 Place
 Promotion
The marketing mix process has changed in response to changes in the company and
consumer markets. McCarthy’s concept was developed in 1981 by Bernard H. Booms
and Mary J. Bitner into the 7Ps of marketing mix that we know today.
The original four Ps are still in place, but Booms and Bitner added three more:
 People
 Process
 Physical evidence
Let’s dive deep into each one of them in the 7Ps of marketing
1. Product: The characteristics, unique selling factors, and overall quality of the product or
service being offered
2. Promotion: Methods used to advertise the product through many channels are referred
to as promotion
3. Price: The product’s long-term price plan, including promotions, discounts, and special
offers
4. Place: Where do customers find your product, learn about it, and then buy it
5. People: Those who come into direct and indirect touch with your target clients
6. Process: How you will deliver the product to clients and provide them with the finest
experience possible
7. Physical evidence: tangible goods and experiences that convince clients that your
product is genuine — in the case of digital, this includes website visits, confirmation
emails, testimonials, client feedback, and more
You may like to read top blogs on marketing.
1st of 7P’s of marketing – Product
Simply put, the marketing mix product is what is being marketed. When we refer to the
product, we refer to aspects such as quality, packaging, design, and brand. You must
ensure that the product satisfies the needs of your market while designing it, i.e., does
your target market or audience desire or need it?
The life cycle, which covers the growth, maturity, and sales drop phases, must also be
considered. By providing a better quality product to your intended audience than your
opponents, you will be able to win this aspect.
Here are five questions to consider while defining product mix strategies:
 What do people expect from a product or service?
 What will they do with it, and how will they use it?
 What features are required to fulfil the client’s requirements?
 Is the product’s name memorable?
 What sets your product apart from the competition?
2nd of 7P’s of marketing – Price
Price in the marketing mix refers to the amount of money your consumer is willing to
spend. The price must be higher than the cost of manufacturing by definition, as this
decides your profit or survival. Changing the pricing has a significant influence on the
product’s sales and demand and the impression of your brand.
Tip: When customers compare your prices to your competitors, they may connect a
lower price with poor quality items. However, overpricing might result in costs exceeding
benefits. Where exactly is the middle ground?
Thus, while determining the price, marketers should examine the product’s value and
assess various pricing techniques.
Check these questions to help you get started with this marketing mix element: 
 Is this priced favorably?
 How does the price compare to competitors?
 Should discounts be offered? 
 Do you accept payment plans?
 Are there any credit terms the customer might need to meet?
3rd of 7P’s of marketing – Place
 Place refers to the distribution and availability of your goods to potential buyers as part
of the marketing mix. And you can’t talk about the location without mentioning your
target market. This component necessitates a thorough grasp of the target persona.
You will uncover the most effective distribution methods once you have nailed knowing
the ins and outs of your target clients.
So, how do you position your product correctly? Here are five questions that can assist
you in defining this marketing element:
 What are the places where purchasers seek your product?
 What’s the best way to find the correct distribution channels?
 What distinguishes your distribution strategy from that of your competitors?
 Is it necessary to hire a sales team?
 Do you need to sell something on the internet?
4th of 7P’s of marketing – Promotion 
Spread the word!
When it comes to the marketing mix, the component of the promotion mix refers to who,
what, and how. What is conveyed, to whom it is transmitted, how is that audience
reached, and how frequently is it promoted? It uses techniques such as:
 Advertising
 Sales
 Public relations
 Emails 
 Social media
The promotion mix meaning and principle is to increase brand awareness and sales. If
you can answer yes to these five questions, you’ll be well on your way to developing a
promotion strategy:
 When and where can you reach out to your target market with your marketing
messages?
 How do your competitors promote themselves?
 And how do your competitors impact the promotional activities you choose?
 When is the most effective time to market your product?
 Is using social media the best option?
5th of 7P’s of marketing – People
Aren’t businesses dependent on the individuals who manage them? Having the right
people is a no-brainer since they are as much a part of your business offering as the
 products/services you provide. Employee performance, appearance, and customer
service are all examples of this.
As a result, establishing what constitutes the “appropriate people” for your company
might be difficult, but it should include the following three factors:
 Exceptional service
 Genuine enthusiasm
 Be open to suggestions
Tip: Having the right teammates is an organizational benefit that influences your market
position.
6th of 7P’s of marketing – Process
The process in the marketing mix is the method through which your product or service is
presented to clients. Your sales funnel, distribution system or other methodical
operations can ensure your company functions properly. You also want to make sure
that your procedure is well-organized to save money.
Other examples include the order in which individuals complete activities, the quantity of
inquiries received by salespeople, and how performance is recorded and assessed.
7th of 7P’s of marketing – Physical evidence
Physical proof is a must-have for the 7 Ps of marketing. It might be material or
intangible, and you should provide proof of delivery. Product packaging, receipts, and
customer service are all physical examples. The perception of a company’s product in
the marketplace is intangible physical proof.
Consistent branding across channels is a means to impact customers’ views to the point
that your brand is the first thing that comes to mind when they hear a word, sound, or
phrase.
Consider who comes to mind when you think about fast Pizza. Pizza Hut is a popular
answer. Their existence in the marketplace is immediately noticeable. That is Intangible
physical evidence.