Difference between Market Research and Marketing Research | THE BIGGEST MYTH | Marketing

Let’s have a little out of box talks apart from marketing. Everybody would have heard about twins, even though they are from the same blood linkage they have different behavioral patterns. Similar is the case in marketing research and market research. They both evolve around marketing but have different concepts and demographics. For easy understanding we can say that marketing research and market research overlap each other in few areas but marketing research is overlapped to a major extent by the market research. The above statement can be easily understood by the following pictorial explanation:

MARKET RESEARCH:

Market research is collection of data regarding the performance of the product in the market and the perception of a product among the consumers.

Concepts that come under market research are:

· Market trends

· Market size

· Target Market

· Technical Research

· Market segmentation

MARKETING RESEARCH:

Marketing research is the collection data various geographic features about the consumer, competitor (from a company's perspective) and even about a specific industry.

Concepts that are covered under marketing research are:

· Advertising effectiveness

· A/B, copy testing

· Brand attitude

· Concept testing

· Satisfaction

CONCEPTS THAT ARE OVERLAPPED BY BOTH:

Despite various differences between market research and marketing research there are four pivot similarities that are considered by the marketers in common for both the concepts are:

· Competition

· Pricing

· Product attributes

· Demand estimation

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