Conducting marketing research is a key activity for marketing teams. It helps them gain a better understanding of their market, the competitive landscape, their customers and prospects, and the needs, expectations, and satisfaction levels of these groups. It also helps them understand and anticipate the performance of products and services, thereby enabling them to define informed strategic directions.
Summary
In the age of data-driven marketing, marketing research can no longer be limited to producing descriptive analyses or one-off reports. Its true value now lies in its ability to transform data into operational decisions and concrete actions. When leveraged effectively, data on customers, markets, and usage patterns becomes a strategic tool for guiding marketing decisions, prioritizing investments, and improving sales performance.
With the proliferation of data sources, the acceleration of decision-making cycles, and the rise of artificial intelligence, companies must rethink their research practices. The challenge is no longer just to understand behavior, but to quickly act on insights to generate a measurable impact on the customer experience, innovation, and growth.
Contents
The Different Types of Marketing Research Based on the Objective
Depending on the objective, there are several types of marketing research:
, and quantitative studies
To understand a phenomenon (for example: the sales performance of a product or service, or customer expectations).
Methods: questionnaires, focus groups
, Qualitative Studies
To understand a perception (example: user satisfaction with a product)
Research Methods: interviews, ethnographic studies, focus groups, social listening
's opinion polls
These are quantitative studies conducted over time to understand a phenomenon as it evolves over time (example: the state of an industry).
Methods: questionnaires, focus groups
, Experimental Studies
They allow you to test hypotheses or the impact of a change (for example, testing how new features are received in a product).
Methods: surveys, A/B testing
Too much data can undermine the value of your marketing research
These efforts contribute, in particular, to the development of the “traditional” (bi)annual (bi)annual marketing plan, which defines and prioritizes the actions to be taken and allocates resources to the actions with the greatest impact.
The key value of a marketing study lies in its actionable nature—that is, its ability to inform decision-making and to yield insights and action plans that will ultimatelyimprove customer satisfaction and the performance of our offerings.
This is also where the main challenge in conducting a marketing study lies: while access to external data has greatly expanded today thanks to the multitude of existing and available databases (particularly open-source ones), there is a risk of relying on a vast amount of data without taking the time and gaining the necessary perspective to consolidate, analyze, and make use of it.
The result is marketing studies that consist of a series of data points that are insufficiently structured and interpreted, making it impossible to directly identify the key challenges and actions needed to improve performance.
iQo regularly supports marketing departments in developing their marketing research and plans, notably by providing a methodological framework that enables them to transform data into insights and action.
The 4 Key Principles for an Effective and Actionable Marketing Study:
- Define the specific objectives of the study and its scope
- Rely on reliable, comparable, and well-documented sources
- Interpret all the data presented and draw conclusions from it
- Be concise and visual
Questions to Ask When Conducting Marketing Research
1. Scope of the Marketing Study
- What are the objectives of the study?
- What need(s) do we want to address (understanding a specific phenomenon, identifying trends, solving a problem, etc.)?
- What issues should be addressed in the study?
- What information do we already have on this topic?
- Who is this study intended for (Executive Committee, Marketing Department, Sales Teams, etc.)?
2. Data Collection
- What data (quantitative and qualitative) could help address the research questions?
- Where is this data available? What sources are accessible?
- Is this data consistent (in terms of timing, scope, etc.)?
3. Data Analysis
- How should this data be analyzed to address the study’s objectives and research questions (over what time period, relative to what benchmark, etc.)?
- Are there any limitations to consider when interpreting this data (changes in context, calculation methods, etc.)?
- What have we learned from this data? What conclusions can we draw from it?
4. Summary and Recommendations
- What are the key takeaways from the study?
- How did the study and the analyzed data help answer the key questions that were identified?
- Are there still some unanswered questions? How can we answer them?
- What actions are recommended based on the study? What benefits would they provide?
How can iQo help you conduct your marketing research?
As a strategy and transformation consulting firm, iQo supports you in conducting your marketing research and developing your marketing plans. The goal of our marketing consulting services is to improve the relevance and effectiveness of your action plans, as well as the performance of your offerings.
We recently worked with the marketing teams of companies in the banking sector :
- Training employees to conduct market research and develop marketing plans
- Supporting employees in interpreting research findings: defining the marketing strategy and associated action plans for various market segments
- Formulation of the Consolidated Marketing Plan
Marketing Consulting Firm
Frequently Asked Questions
Why should marketing research shift toward action-oriented research?
How can you turn marketing data into concrete decisions?
What role does data play in modern marketing research?
How do data-driven studies improve marketing performance?
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