Research into the industrial market
From a general point of view the object of market research is to provide information for the industrial producer of a product or service as to the quantitative needs of consumers and the role that this product or service can hope to fulfil in the market; also to probe into the opinion of users as to the quality of his products and services, improvements requested and purchasing motivations. These last can moreover not only help to improve the product but also assure its promotion. If the overall objectives are identical for all types of market study, the same does not apply to the methods used. Too often, people do not distinguish between a market study and an opinion survey. This is a serious mistake, especially where industrial market studies are concerned. In fact, a distinction is usually drawn between market studies of consumer goods and services sold to the public, and studies of industrial markets where the buyers are professionals rather than private individuals. In themselves, the techniques of studying industrial markets are no different from those used for consumer goods, but their fields of operation have little in common and there are great differences in the way they are carried out.
- This could also be of interest