Do you know the difference between market research services and consumer insights research services? Understanding the difference between the two can be critical to your business success.
Market Research
Market research is a factual and statistical organized effort to gather information about customers or markets. Market research defines the what is needed for business success.
Market research lets you know that your business will succeed versus hoping your business will succeed. Online surveys, in-store and mall intercepts, telephone surveys, focus groups, and more are all market research services. Each of these services hold the purpose of helping one find out about consumer and competitor habits.
Market research is critical to defining current and future needs in the market while helping ensure that a business is in touch with what people want. Market research helps businesses serve customers better, ultimately taking the guesswork out of meeting their needs.
Consumer Insights Research
Consumer insights research provides information that displays why customers behave how they do. Recognizing insights is the next step. It is how you apply market research findings to affect consumer behavior.
Consumer insights are drawn from analyzing in conjunction consumer behavior, the researcher’s experience, and market trends. Consumer insights benefit companies and consumers alike, while helping businesses thoroughly understand what consumers really want and need through surveys, online research, focus groups, and a variety of other qualitative and quantitative methods.
Consumer insights research is designed to yield a wealth of information that helps better serve customers and creates products, services, and marketing campaigns that broaden customer bases and help maintain a competitive edge.
Market & Consumer Insights Research Work Together
Market and consumer insights research work equally together to provide thorough business improvement. Together, they provide thorough and actionable insight.
Creative Consumer Research provides market research and consumer insights research services. Get all the information you need to develop the best solutions. Call today for more information.