Distinguishing the market study from the marketing study
Most people make no distinction between a market study and a marketing study. Both concepts are important and different from a technical point of view.
The aim of a market study is to discover what consumers want to buy. The market study focuses exclusively on collecting information on a specific market: what is its size. what are the trends, what are the needs and motivations of its target groups, etc. Its aim is to establish the balance between supply and demand as precisely as possible.
Among the examples of market studies, we can note: the number of potential customers, the average budget per household dedicated to a specific product, average consumption per household, etc.
The information provided by the market study will then serve as the basis for developing a marketing policy or targeted communication.
The marketing study is a much broader concept, generally used to analyse the best way to promote a product or a service. It aims to evaluate the impact of certain marketing instruments on customer behaviour. A marketing study is often associated with the "marketing mix". Its purpose is to make a company's marketing process more effective.
The following are examples of marketing studies: pricing study, distribution study, product study, and communication study.