What Are The Benefits of Different Types of Market Research?

When it comes to market research, there are a huge number of elements that fall under the same umbrella. For those taking part in the research tasks, there are various different ways they can participate, from phone interviews to group discussions, one-on-one interviews to home visits, and all of them have their key benefits. Some may encourage natural, conversational chat, whilst others might be more about ticking boxes and getting straight answers. Some sessions may involve a long commitment and a lot of travel, whilst some will be over in just minutes. Read on to find out more about the advantages of conducting different types of marketing research.

Group Discussion

Benefits for businesses: The act of pulling together a group of different people, who have sampled a product or trialled a service, and then asking them to discuss it amongst themselves in an informal, chatty, group situation, can have a multitude of benefits for businesses. When people are more relaxed, they often open up and reveal their most honest opinions, and brands can get right to the heart of the things they did and didn’t like about a product, policy or service.

Benefits for participants: Many people worry that market research will involve some form of strict interview process, where they must think up articulate answers to complicated questions. This type of scenario puts their mind at ease; those taking part in this form of research can relax and offer up their own ideas and thoughts, without having to worry about presenting a certain image or panicking about a tough question!

Face to Face Interviews

Benefits for businesses: For those conducting market research, a face-to-face, one-on-one interview can be massively beneficial to them. Sometimes in group discussions, those with an unpopular opinion or a different idea about something might be reluctant to pipe up with their thoughts, but in a private setting, they can feel totally relaxed and honest.

Benefits for participants: This type of research, though it might seem intimidating at first, can be made much more fun by those conducting it, with the inclusion of things like storyboards and short games that help to gauge the reaction to a certain product or service. They often don’t include sitting in a chair and being questioned relentlessly for an hour; in fact, they are just as informal and enjoyable as group sessions.

Telephone Interviews

Benefits for businesses: The overheard costs are dramatically minimised, and those commissioning the research often get results of the same high quality that they’d expect from a face-to-face interview. When respondents are in the comfort of their home, they are more likely to be chatty and honest; they can even be walked through the process of using a product to see how they like it every step of the way, giving real-time answers rather than trying to remember how they felt at any given time.

Benefits for participants: Those living outside of city centres, those with childcare to consider, or those who cannot make an initial market research session can still put their research and their experience with a product or service to good use by offering up their verdict over the phone. These are slightly rarer than the conventional market research carried out in person, but they are always an option for those who find it a struggle to get into town centres early in the mornings or in the evenings.

Online Focus Groups

Benefits for businesses: Data and transcripts from these sessions is easily produced with the acquisition of a simple chat log from the online focus group. This means that collecting and analysing the data for these sessions is very quick and simple, without needing to transcribe endless tapes or go through pages of answers from different interviews. Those looking for quick opinions that can be analysed in rapid time will find the online route the most effective.

Benefits for participants: What could be simpler than chatting in an online chat room about a product or service, whether it’s from the comfort of your own home or on a long break in the working day? These sessions are also not as frequently available as conventional market research sessions, but they do crop up from time to time, and participants can earn an easy incentive by simply typing in their opinions and clicking ‘send’.

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