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South Africa Rural Market Research Article
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Types of Market Research
from:Marketing research is carried out by various organizations for two different reasons. First reason is to identify the problems associated with marketing and second one is to solve those marketing problems. These two reasons serve as the basis for classifying the market research into the two distinct categories. The two categories are the research of problem identification and research of problem solving.
Problem identification research: The problem identification research basically is undertaken to understand and analyze those problems that are not apparent but do, exist or are, in the future, likely to come up. The examples of this kind of research are the research and surveys conducted to gauge the market share, market potential, brand and vendor image, sales analysis, market characteristics, short-range or long-range forecasting and trends in business.
The results from this kind of research help companies to know well in advance whether the market is declining which also may indicate that the company may have problems achieving the growth targets. The research also unveils problems such as a firm losing its market share while market potential seems to be increasing. The results obtained from such research help in the recognition of social, cultural or economic trends as such changes in the consumer behavior may be part of larger underlying problems or even potential opportunities.
Problem solving research Once the problem or even and opportunity has been circled, problem solving research begins to solve the problem and come to an acceptable solution. Corrective actions are then taken to reposition a product or restructure it for a better consumer satisfaction. Two out of three companies carry out problem solving research.
Other categorization of Market research depending upon the structure and methodology of the market research can be primary and secondary kind of Business research.
The Primary research: The Primary market research involves an exhaustive testing of variables like focus groups. The activities like surveys, field tests, interviews tailored specifically to that product are conducted to study the product positioning
The Secondary Research: In secondary research, indirect information is compiled from many other sources appearing applicable to an existing or even a new product and is then used to estimate the product positioning.
The advantages of secondary research as evident from its generalized methodology as compared to the customized one of the primary research lies in the fact that it is easily accessible and fairly cheap. The obvious disadvantage of a secondary research is that it is often not specific to a product and the research and can be difficult to sometimes validate.
South Africa Rural Market Research Specific links
South Africa Rural Market Research News
Remedying Global Health R&D - AllAfrica.com
Remedying Global Health R&D AllAfrica.com Bangkok — Researchers are calling for a binding global health convention that requires all governments to share the costs of research and development (R&D), stating that such an international treaty would boost access for communities least able to pay ... |
Youth or Capital Subsidy: Class antagonism in the open - Moneyweb.co.za
Youth or Capital Subsidy: Class antagonism in the open Moneyweb.co.za Research has shown that the informal sector, agriculture and domestic work contributed a third of all employment in South Africa. Two thirds of employed people in South Africa earned under R1000 a month. Moreover, one in five employed African women was ... |
Developing world emerging as a big dairy industry growth prospect - Creamer Media's Engineering News
Developing world emerging as a big dairy industry growth prospect Creamer Media's Engineering News New research by a global food processing and packaging company has identified 2.7-billion low-income consumers in developing countries as the dairy industry's next big growth opportunity owing to an expected rise in prosperity, purchasing power and the ... |
Sexwale Aid for Poor Seen as Boon for Banks: Mortgages - BusinessWeek
Sexwale Aid for Poor Seen as Boon for Banks: Mortgages BusinessWeek Standard is the biggest lender in South Africa's low-cost housing market, with 12 billion rand of loans, about 30 percent of the market, Nkosi said. Affordable-housing loans account for 4.2 percent of the lender's mortgage book. |
US still the global geothermal energy leader, but now outpaced by ... - REVE
 Greentech Media | US still the global geothermal energy leader, but now outpaced by ... REVE Geothermal energy growth can be attributed to a number of factors, including economic growth, the electrification of low-income and rural communities, new technology and favorable national policies. In conjunction with tomorrow's GEA International ... GEA report details international geothermal growth and potential |