The difference between market research & marketing research

AlixCompany makes a distinction between market research and marketing research. It comes from grounding our services in market research or an in-depth understanding of the consumer, marketplace, and product.

Market research = any organized effort to gather information about markets or customers. Market research is for discovering what people want, need, or believe in context. It also involves understanding how they act. Once that research is completed, it can be used to determine how to market a product/service through marketing. I like to use a Venn diagram consisting of consumer, marketplace, and product; where we aim to find insights and key differentiators and the sweet spot for strategic articulation. Market research is IMMERSION.

Marketing research = marketing processes used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. It is inclusive of a company’s situation, strategy, and Articulation® implementation. The process may include various forms of ‘market research’ such as segmentation and target market selection. The purpose of marketing research is to assist management in decision making related to the identification and solution of problems and opportunities in marketing. Marketing research is EVALUATION.

If you’re interested in immersion (to better understand the consumer, marketplace, and product), then market research is the ticket. If you’re interested in evaluation (to identify a better marketing solution), then marketing research is best. If you’re interested in both, that’s even better.