Market Research vs Market Tracking Tools

Questions are frequently asked across digital platforms about the differences between market research, and some may believe that market research is the same as market tracking tools. In this light article, we'll outline the most prominent differences between market research and market tracking tools, helping you understand market research and how market tracking tools complement each other.

	Market Research	Market Tracking Tools
Objective	To answer specific business questions.	Continuous monitoring of market trends.
Data Type	Primary data from customers, such as surveys or interviews.	Secondary data from reports, social media, and analytics.
Frequency	One-time or periodic studies.	Ongoing, real-time, or regular updates.
Focus	Customer needs, preferences, and behaviors, product testing, brand image, etc.	Market size, competitor activity, trend shifts.
Examples	Opinion surveys, focus groups, product concept tests.	Google Analytics and social media monitoring tools.

In conclusion

Market research is focused and detailed, addressing specific questions through direct customer interaction. Market tracking tools provide comprehensive and continuous performance information to support strategic monitoring and decision-making. Steady pace Consultancy offers you the full breadth of its market research expertise, which has contributed to the growth of strategies for local and international companies. Its digital platform, BSure, provides you with the best analytics you can extract from your clients through flexible survey templates that align with your visual identity and strategic vision.