Market Research Methods

What are the different types of Market Research? 

• Surveys - These can consist of online, mail, telephone or in-person surveys. All surveys have a varied success rate and expense to conduct successfully. 
• Focus groups - Moderators use scripted questions or topics to lead a discussion with a group of people to get their feedback on a product or idea. The use of observation rooms with one-way mirrors or videotaping the session is common as meetings can last several hours. 
• Personal interviews - Using open-ended questions the moderator collects data from individuals that tends to be more subjective and less statistically reliable. 
• Observation - Observing customers in action via videotaping their behavior in stores, at work, or at home can give a better idea of how they interact with your product. This can also aid is analyzing shopping patterns. 
• Field trials - Placing a new product in selected stores to test customer response under real-life selling conditions can help you make product modifications, adjust prices, or improve packaging