Difference Between Market Research And Marketing Research Essay

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INTRODUCTION Global and marketing research is important to gain valuable information relating to the needs and wants of customers. With the help of effective research, businesses can enhance their performance to attract potential customers in the global and domestic market (Akaka, Vargo and Lusch, 2013). Granting these two terms are often used interchangeably, they have some distinctive qualities. The main difference between Market Research and Marketing Research is the scope of the concept. Market Research is a narrower concept because it is research centered on a particular market. Marketing Research, however, operates on a much broader level. It comprises areas such as: • Research into new products • distribution Channels • Product development It includes promotion research, pricing, advertising and public relations. Both concepts are essential parts of marketing, which is basically everything that happens before the sale of a product or service. In a nutshell; market research is a division of marketing research. Marketing Research covers all four of these to identify and know consumer preferences. On the other hand, Market Research normally covers one of those four processes–places. Place includes a study of a particular market or segment. Market Researchers contend that what they do is customer-focused and the measurement of market demand only. With the “Four P’s” the difference can be made clear, Marketing Research covers all four of these to identify and know
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