AboutAlex J. Caffarini Expertise I can answer questions on any of the following:
* Determining the best marketing research method for your needs;
* Conducting surveys (including questionnaire design);
* Measuring the effectiveness of marketing promotions;
* Determining market size or market share;
* Data analysis;
* Statistical modeling;
* Sales or business forecasting; and
* Market segmentation.
Experience I have 15 years of marketing research experience across several different industries, including banking, insurance, retail, and non-profit.
Organizations American Marketing Association
Education/Credentials M.B.A. in Marketing and Quantitative Methods, and B.B.A. in Economics, both from Loyola University Chicago.
Question what the basic difference(if there any) between the two, if we do market research for a specific problem and if we do it for a new product?
Answer Anshul,
In terms of market research concepts, there is no real difference. Market research is always conducted to solve a specific problem. The introduction of a new product is also a specific problem when you consider the questions it raises: "How do we market this product?" "How do we maximize its sales?" "How do we maximize the profit from this product?" These questions are as much market research problems as questions like "Why have we been losing market share in that territory?" or "Why is customer satisfaction lower in the Chicago than in Los Angeles."
There may or may not be differences in the research methods you employ for introducing a new product vs. one of the other problems, but the research methods you select (e.g., focus groups, surveys, secondary research) should be determined by a clear definition of your business problem. That is, what exactly you want to find out from your research. If your goal is to explore a situation, then you might use focus groups, secondary research, or other qualitative methods. If your goal is to understand what is causing a certain marketing phenomenon, then you may employ methods like experimental designs (like in-store tests), test marketing, or simulation. If your goal is to describe situation, you might use surveys or syndicated data.
There is really no difference in market research concepts.
