Consumer Market Research

In the field of marketing, consumer market research can be generally defined as the systematic collection and evaluation of data regarding customers' preferences for actual and potential products and services. It is also important to note that consumer market research is not directly synonymous with marketing research. Marketing research is actually comprised of both consumer and business-to-business research and examines all aspects of a business environment.

The ultimate goal of consumer research is to serve as the voice of the consumer. This type of research focuses on understanding the consumer as a person by focusing on exploring his or her attitudes, needs, motivations, and behavior as it relates to a product or service . More broadly, consumer research helps provide a company with relevant, reliable, valid, and current information about their target buyer.

 

Focus Groups

Soldiers and family members participated in USAG- RC-sponsored focus groups

Consumer market research can serve a variety of purposes including:

For instance, a consumer goods company that wants to develop a new cheese product for the growing Hispanic demographic can use market research. If the consumer market research demonstrates that consumers do in fact have an unsatisfied need for a cheese that could replace the product they are currently consuming in Latin America, the company could go ahead and develop the cheese product.

 

Source: Boundless. "Goals of Consumer Market Research." Boundless Marketing. Boundless, 26 May. 2016. Retrieved 13 Jun. 2016 from https://www.boundless.com/marketing/textbooks/boundless-marketing-textbook/consumer-marketing-4/introduction-to-consumers-33/goals-of-consumer-market-research-174-7991/

 

Activity

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Value: 5

Marketing research can best be described as