DIFFERENCES BETWEEN MARKET RESEARCH AND MARKETING RESEARCH

MARKET RESEARCH VS MARKETING RESEARCH 

Market research is the process of gathering, analysing and interpreting information about a market, and whether they are or can be a potential customers for a product or service. 

The product can be on paper or already in production. Moreover, Market Research also can be used to collect information whether there should be any changes or adjustments to the product or service itself to make it more successful.   

Here is the diagram of the steps of the Research 

Before starting a Market Research, you need to set the background, the objective, and the method of the research.
There are two types of Market Research : Quantitative and Qualitative. They usually being performed by surveys, focus groups, or interviews.

Marketing research is a broad term that cover the process of gathering and analyzing data to understand your customer better.

In essence, “marketing research” is a broad term used to represent the exploration and harvesting of information related to the four Ps of marketing: product, price, place and promotion (i.e., the “marketing mix”). It seeks to identify and understand how changes to one or more elements of the “marketing mix” affect consumer behavior.

Here is the diagram of the steps of the Research 

Similar to Market Research, there are two types of Marketing Research : Quantitative and Qualitative. They usually being performed by surveys, focus groups, or interviews.

DIFFERENCES BETWEEN THE TWO

The basic difference is that market research is concerned with investigating markets (customers, consumers, distribution, etc.) while marketing research is concerned with investigating any issues related to marketing (consumer behaviour, advertising effectiveness, salesforce effectiveness, etc ) to spark the interest of the target market.