We often hear the terms “Market Research” and “Marketing Research” used interchangeably. But are their meanings the same…or meaningfully different? And how do people from outside the profession perceive these two phrases? Would a CMO from a CPG brand think that a “market researcher” is different from a “marketing researcher”? Would the CEO of a financial services firm be likely to think one would have more in-demand skills than the other?
As one example, here is the Wikipedia definition of “Market Research:”
- Market research is an organized effort to gather information about target markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.
What do you think? Does this sound correct? When compared to the Wikipedia definition of “Marketing Research,” it gets a bit murky.
Another way to think about it: are you more likely to describe yourself as a “market researcher” or a “marketing researcher”? Which one feels more accurate? Which one feels more “future-proof”?
In this YouTube video, there are 4 definitions of “Market Research” and “Marketing Research” (with sources) and examples related to product positioning and customer loyalty to illustrate potential differences. Disagree with this take? Great! Add your comment, or definitions, in the YouTube comments.
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Want some additional reading? Here are some links to articles that relate to this topic.
- Market Research vs. Marketing Research — What’s the Difference? (Qualtrics, 2019).
- DIFFERENCE BETWEEN MARKET RESEARCH AND MARKETING RESEARCH – WHAT IS MARKETING RESEARCH? (Marketing-Insider, 2018)
- Marketing Research vs. Market Research (CFRInc.net, 2018)
