What is the Difference Between Market Research and Marketing Research?

Market research and marketing research are related but distinct concepts. Here are the main differences between the two:

1. Scope: Market research focuses on studying buyer behavior in the market and the marketplace as a whole. In contrast, marketing research is broader, encompassing all aspects of marketing, including product, price, place, and promotion.
2. Purpose: Market research aims to assess the viability of a new product or service in the target market and identify new target markets and customer needs. Marketing research, on the other hand, is conducted to make effective decisions regarding marketing activities for goods and services.
3. Nature of Research: Market research is limited in scope, as it studies only market and consumer behavior. Marketing research is more comprehensive, involving the study of the entire marketing process and the market itself.
4. Relationship: Market research is a component of marketing research, while marketing research is a part of a business's marketing information system.

In summary, market research is focused on understanding the market and consumer behavior, while marketing research covers a wider range of marketing-related activities, including product development, pricing strategies, distribution channels, and promotional methods. Market research is a specific, targeted approach, whereas marketing research is more generic and can be applied to various marketing problems.

Comparative Table: Market Research vs Marketing Research

The main differences between market research and marketing research are their scope and focus. Here is a comparison table highlighting the key differences:

In summary, market research is a subset of marketing research that focuses on understanding the market and customer behavior, while marketing research encompasses a wider range of marketing activities, including product development, pricing strategies, and promotional campaigns.