Consumer research on global markets

Consumer research includes the collection and analysis of information about the target audience. This data is used to develop a marketing strategy, increase customer loyalty, and reduce business risks.

Consumer research helps a company solve the following tasks:

- Consumer market segmentation;

- Product concept testing;

- Identifying brand advantages and disadvantages;

- Obtaining insights;

- Measuring customer loyalty and motivation;

- Identifying growth areas.

Consumer Research Methods

Consumer research can be divided into two categories by the type of data:

- Desktop research: analysis of secondary data sources such as reports, statistics, and publications.

- Field research: raw data collection.

Field consumer research can be quantitative, qualitative, or combined. While qualitative studies help analysts understand the needs, preferences, and motives of consumers, quantitative research allows one to express the market situation in numbers.