How do you define “Market Research”? What about “Marketing Research”? Are they the same…or meaningfully different?
As one example, here is the Wikipedia definition of “Market Research”:
- Market research provides important information to identify and analyze the market need, market size and competition. Market-research techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
What do you think? Is that accurate? I’m not a fan of this definition, and it also seems rather dated.
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Plus, when I compare it to the Wikipedia definition of “Marketing Research”, it get murky.
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In this video, I use 4 definitions of “Market Research” and “Marketing Research” (with sources) and examples related to product positioning and customer loyalty to see which phrase is most accurate. Disagree with my take? Great! Add your comment, or definitions, in the YouTube comments.
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