Marketing Research Types

Descriptive research helps identify trends and compare markets or different groups of customers.
Exploratory research helps investigate a market when there is no existing information available.
Explanatory research helps a company understand why a particular phenomenon occurs.

Income Statement is a financial report that summarizes a company's revenues, expenses, and profits (or losses) over a specific period.
Balance Sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time.
Cash Flow Statement is crucial for assessing a company's liquidity, as it provides insights into its ability to generate and manage cash to meet its financial obligations.
Financial Statements are essentially the financial reports of a company that detail its economic activities and position.

Customer is a person or organization that purchases goods or services from a business on the basis of the quality and price of the products or services provided.
Consumer is a person who uses or consumes a product or services.
Client is a person or organization that receives professional services from a business.
Target Customer is a kind of customer who is very likely to buy the product or service offered by the business.
Loyal Customers are those customers who repeatedly make purchases irrespective of minor changes in parameters like price, quantity, etc.
New Customers are customers who have used the product or service for the first time from a particular organization.
Engaged Customers are customers who are connected to your organization.
Impulse Buyers are customers that make purchases on a whim, often without much thought or research.
Wandering Customers are customers who make up the mall crowd, who love the shop's ambiance and will come in for relaxation.

Target Market is a group of people that have been identified as the most likely potential customers for a product because of their shared characteristics, such as age, income, and lifestyle.
Demographic Segmentation is a major segment where you consider your possible consumer that belongs to a specific age group, income level, gender, occupation, and education level.
Psychographic Segmentation is a segment that encompasses the lifestyle, attitudes, interests, and values.
Behavioral Segmentation is a segment that relies on the research of the decisions made by the current customers.
Niche is a specific, defined segment of the market that is addressed by a particular product or service.
Innovation is at the heart of entrepreneurial marketing.
Word-of-mouth (WOM) is when a satisfied customer tells others about their positive experience with a good or service.
Personal branding is the process of intentionally shaping and managing the perceptions others have of you.
Business networking is the act of maintaining positive relationships with clients and other professionals in your industry.

Revenue is the total income generated from selling goods or services.
Cost is the fees you incur from manufacturing, sourcing, or creating the product you sell.
Markup is the additional amount you charge for your product over the production and manufacturing fees.
Profit is the difference between total revenue and total expenses.
Dynamic Pricing is also known as surge pricing, demand pricing, or time-based pricing.
High-Low Pricing is when a company initially sells a product at a high price but lowers that price when the product drops in novelty or relevance.
Penetration Pricing is when companies enter the market with an extremely low price, effectively drawing attention (and revenue) away from higher-priced competitors.
Skimming Pricing is when companies charge the highest possible price for a new product and then lower the price over time as the product becomes less and less popular.
Geographic Pricing is when products or services are priced differently depending on geographical location or market.

Bootstrapping is the process of launching and growing a business without external help or capital.
Crowdsourcing involves obtaining work, information, or opinions from a large group of people who submit their data via the Internet, social media, and smartphone apps.
Venture Capitalists are individuals or firms capable of making substantial investments in businesses that they view as having very high and rapid growth potential, competitive advantages, and solid prospects for success.
Initial Public Offering (IPO) is an initial public offering, which shares of a private company are made available to the public for the first time.
Donation Crowdfunding is a type of campaign that serves social causes and charities best.
Lending-based Crowdfunding allows entrepreneurs to raise funds in the form of loans that they will pay back to the lenders over a pre-determined timeline with a set interest rate.
Equity Crowdfunding is the exchange of actual shares in a private company for capital.
Accelerators are specialized programs or organizations supporting entrepreneurs and startups in their early stages by offering funding, resources, and mentorship.

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