Difference between marketing research and analysis

Difference between marketing research and analysis

Marketing research: is used to collect the information about the market, such as consumer’s needs, preferences, interests, market trends, and market statistics and so on.

Marketing analysis: The market analysis is known as a documented investigation of a market that is used to inform a firm's planning activities, particularly around decisions of inventory, purchase, work force expansion/contraction, facility expansion, and purchases of capital equipment, promotional activities, and many other aspects of a company.

Market research is the first stage of the marketing process it is one of the important tool in establishing or starting up your business, you have to gather some concrete information’s regarding the business you are planning to put up and you have to record these data that would help you on your Market analysis. in market analysis, one of the effective tool is the S>W>O>T analysis

S- strength, W-weakness, O-opportunity, T-threat