These terms are often used interchangeably but there is a difference.

Market research deals specifically with the gathering of information about size and trends. Marketing research covers a wider range of activities. While it may involve market research, marketing research is a more general systematic process that can be applied to a variety of marketing problems such as brand positioning, knowing customer preferences and sales strategy.

Managers require information to successfully introduce new products and services; ones that are valuable in the mind of the customer. However, this value perception is subjective and what customers value this year may be quite different from what they value next year. As such, the attributes that create value cannot simple be deduced from common knowledge or speculation. Rather, data must be collected and analyzed. The goal of marketing research is to provide the facts and direction that managers need to make their most important marketing decisions.

For more information on custom market research and surveys for marketing research, please contact iData at [email protected]