Today, I want to cover possible marketing research in Korea. I have got some helps from GPT to collect basic information and a bit odd image from Adobe Express Beta AI.
Here are the types of marketing research.
1. Market Research: Market research involves collecting and analyzing information about the size, structure, trends, consumer behavior, and demands of a specific market. Market research helps companies understand the market, develop products or services, and formulate marketing strategies.
2. Consumer Research: Consumer research is conducted to understand consumer behavior, preferences, attitudes, and buying patterns. It is used for product development, marketing strategy formulation, and improving customer service.
3. Competitive Research: Competitive research involves studying competitors' products, prices, marketing strategies, market share, etc., to assess the company's competitive advantage. Competitive research plays a vital role in enhancing competitiveness and identifying opportunities.
4. Product Research: Product research evaluates and improves product characteristics, features, design, and quality. It is used for product development, innovation, positioning, and understanding market demands.
5. Pricing Research: Pricing research focuses on investigating factors related to pricing products or services. It analyzes the market price level, customer price sensitivity, and competitors' pricing strategies to formulate an optimal pricing strategy.
6. Marketing Communication Research: Marketing communication research evaluates and improves the effectiveness of advertising, promotions, public relations, etc. It analyzes advertising effectiveness, evaluates marketing campaigns, and examines customer perceptions and changes in awareness.
7. Target Market Research: Target market research is conducted to identify and understand specific customer segments. It involves studying customer characteristics, needs, behaviors, and preferences to develop targeted marketing strategies.
Other types of marketing research include Segmentation Research, Brand Research, and Quality Research. These various methods and tools of marketing research help companies understand the market, customers, and develop effective marketing strategies.