Difference Between Market Research vs Marketing Research

Difference Between Market Research vs Marketing Research

Following image shows five important points of comparison used to find out the difference between Market Research vs Marketing Research (MR).

Image credits © Prof. Mudit Katyani.

Distinguish between market research and marketing research is based on following five points:

1. Meaning of market research and marketing research (MR).
2. Their prime or main objective.
3. Limited or wide scope.
4. Their relation or is a branch of.
5. Independent or not, narrow or broad term.

Now let's differentiate market research and marketing research (MR) on above points.

1. Meaning :
   1. Market research collects data about market, market competition, market trends, market demand and supply, etc. It finds out answers for the following questions:
      • What to sell?
      • Where to sell?
      • When to sell? and
      • How much to sell?
      It also does sales forecasting. It estimates the demand for new products. It also fixes sales territories and sales quotas.
   2. Marketing research collects and analyses data for solving marketing problems. It also aids in taking marketing decisions. It facilitates in controlling the marketing activities. It is very systematic, scientific and objective.
2. Objective :
   1. The main objective of market research is to:
      • Study the entire market, i.e. its nature, size, location, demand potential, etc.
      • Fix sales territories and sales quotas.
   2. The main objective of marketing research (MR) is to:
      • Solve the marketing problems.
      • Find out present and future marketing opportunities.
3. Scope :
   1. The scope of market research is limited. It only studies the market.
   2. The scope of marketing research (MR) is very wide. It covers all areas of marketing. It includes:
      • Product research,
      • Packaging research,
      • Pricing research,
      • Market research,
      • Sales research, etc.
      It is used:
      • For solving marketing decision,
      • For taking marketing policies,
      • To select marketing channels, advertising agency, sales promotion measures, etc.
4. Relation :
   1. Market research is a branch of marketing research.
   2. Marketing research is a branch of Marketing Information System (MIS).
5. Independent :
   1. Market research is not independent. It is a narrow term.
   2. Marketing research is independent. It is a very broad and wide term.