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Market Research Methods : Techniques and Emerging Tech
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EM Admin
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How do most businesses research the best approaches? Well, it’s no longer a secret these days. Market research methods are broadly adopted for their systematic approaches to collect, analyse, and interpret a set of information about markets, consumers, competitors, pricing, and industry trends. Effective search results help disperse uncertainty while supporting strategic decision-making. Simply put, businesses receive valid information that simplifies aligning products and services with the real needs of target audiences or customers. As markets have become more dynamic and data-rich, advanced digital and AI-driven technologies are complementing traditional research methods.
India’s market research industry surpassed $3.5 billion in FY2025, highlighting its 10.9% growth rate, according to a report. Now estimate the worth of the global market research industry.
Understanding Market Research Methodologies
Broadly, market research methods are categorized into two parts: qualitative and quantitative research.
A. Qualitative research: It is about understanding intangible metrics like motivation, perceptions, and behaviours. This traditional market research method—often delivered through professional Market Research Services introduces researchers to focus groups, interviews, ethnographic studies, and observational research. These methodologies help researchers gain rich, qualitative insights into specific audiences. However, this approach typically involves smaller sample sizes and depends heavily on subjective interpretation.
B. Quantitative research: This method refers to ascertaining numerical data and statistical values for analysis. Basically, researchers prefer it to seek answers for questions like how many, how often, and to what extent offerings can be helpful. They use methods like surveys, questionnaires, structured interviews, and experiments for insights. Typically, this research method guides you toward generalisation across larger populations, which back the formation of some crucial strategies.
Now that you have learned about traditional research methods, it is essential to understand that many organisations employ a mixed-methods approach. In simple terms, many companies combine qualitative depth with a quantitative scale to build a more holistic strategy or plan to achieve a target or business objective.
Traditional Market Research Techniques
The aforesaid categorisation of research methodologies has unfolded various techniques to achieve respective research goals. Let’s dive a little deep into them.
1. Surveys and Questionnaires
Surveys and questionnaires belong to quantitative research, which are widely used to collect crucial details online, by phone, or in person from a large audience. This is how businesses collect standardised data from intended audiences to align with analytical tools. Interestingly, some advanced survey platforms are now available where real-time analysis, adaptive questioning, and data integration with CRMs facilities simplify further processing.
2. Focus Groups
This qualitative research technique brings small groups of participants together who share their perspectives about a product, service, or concept. Moderated discussions reveal people’s attitudes, emotions, and language that they may not express in surveys. Certainly, it is insightful research that requires skilled facilitation to avoid biased opinions and groupthink.
3. Interviews
Interviews bring people one-on-one, which helps in achieving deeper and more personal insights. This technique brings extremely effective results in B2B research, or where user experiences or nuanced feedback are needed to support exploration.
4. Observation and Ethnography
This method resonates with understanding behaviours in real-world scenarios and environments. That’s why researchers use ethnographic studies or even conduct them over extended periods. Their insights unfold needs or requirements that remain unmet and contextual influences that customers may not experience consciously.
5. Secondary Research
Secondary research is a technique of using existing data, such as industry reports, government statistics, academic studies, and competitor information. Unlike the aforesaid traditional techniques, it costs minimal to gather valuable details. But you cannot ignore its downside, which is its inefficiency in addressing highly specific business questions. It cannot resolve specific challenges that businesses want to navigate.
Modern and Advanced Market Research Technologies
The evolution of artificial intelligence has significantly shifted market research methodologies from being lengthy to shorter, faster, more scalable, and more precise.
1. Big Data Analytics
Big data illustrates voluminous data collected from various touchpoints, such as websites, mobile apps, IoTs, social media, and e-commerce platforms. Its analysis, certainly, introduces researchers to hidden patterns, trends, and correlated data pointing at specific behaviours or emotions at scale. This atypical research technique opens ways to predictive insights.
2. Artificial Intelligence and Machine Learning
AI-powered tools for data collection, such as Energent.ai, insight7, SurveyLab, and more, are available to effortlessly gather, get insights, and intelligence from that data. Another advanced technology called natural language processing (NLP) has automated the analysis of open-ended survey responses, reviews, and social media comments or conversations. Predicting intent, segmenting customers, and optimising search designs with machine learning models in real-time are no longer challenging.
3. Social Listening Tools-Driven Sentiment Analysis
Social media platforms have gained traction as a valuable source of data where customers pour out their hearts honestly. Whatever they share in comments or conversation, companies leveraging social listening tools like HubSpot, Buffer, Oktopost, and Brandwatch use it. They are gaining recognition for monitoring brand mentions, hashtags, and discussions across platforms, and even cross-platform. The collected data from this technique reveals emotions or sentiments of customers, which prove a milestone in discovering public perception, emerging trends, and reputational risks.
4. Online Panels and Communities
Digital research panels and online communities like IMAD Research Panels or YouGov Panel offer a platform where organisations can engage with verified profiles or participants over time. This research technique provides exposure to large and prequalified groups for seamless quantitative surveys, trend tracking, and longitudinal studies.
5. Geolocation-based Research via Mobile Phones
Mobile devices are frequently used these days to capture in-the-moment data. Their apps, SMS surveys, and geolocation tracking capture data immediately. The collected data also unearths insights into foot traffic, in-store behaviour of customers, and regional differences. These insightful details contribute to the progressive strategies of retail and service industries.
6. Eye-Tracking and Biometric Research
Advanced biometric tracking platforms and systems like iMotions Biometric Research Platform and Smart Eye / Affectiva systems are now increasingly used for testing, user experience research, and emotional insights.
Choosing the Right Market Research Approach
However, many companies have already evolved a combination method where multiple research techniques can be used to drive data-driven intelligence. This combination can be based on specific objectives, budget, timeline, and target audience. As qualitative and quantitative research methods differ, companies use them according to their goals. Moreover, they blend modern tools with traditional techniques for faster, more accurate, and more relevant research, an approach explored in market research methods. This practice and effort enable organisations to move from descriptive insights to predictive strategies.
Conclusion
Market research methods have some additions, covering advanced AI tools that encourage real-time analysis. The blend of typical and atypical market research methods demonstrates high adoption rates because of its excellence and convenience in understanding complex consumer landscapes. It denotes a flexible, technology-enabled approach that helps in guided changes, innovation, and competitiveness in the rapidly evolving market dynamics.
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