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The cost of marketing research

The cost of a custom marketing research from project to project is significantly different, can be like 100 thousand rubles and 1 000 RUB. and depends on several factors.

1) Researched industry

The price of market research naturally depends on the market you want to explore. Thus, the cost of marketing analysis and hard-to-reach "young" markets, which do not accumulate statistical information and are not available/closed the stable players, will be higher than the cost of marketing analysis of the open and established industry with large amounts of data. This is due to the need for further research using field methods. In the latter case, the inaccessibility of market participants will also increase labor costs.

2) The aims and objectives of the market research

The more questions must be covered with the help of marketing research, the higher the cost. So, some questions can only be closed using field methods – consumer surveys, competitive intelligence or interviews with representatives of companies due to high labor costs have a significantly higher cost.

3) Geography research

the wider the geography of the analysis, the higher the cost. Especially sharply it is reflected in marketing research using field methods, where to obtain relevant results it is necessary to form a representative sample in each new region, and especially the country.

4) Research methods

As mentioned above, field research methods due to the high labor costs are usually higher cost, and their use affects the overall cost of marketing research. In addition, there are significant differences between the cost of labor in applying qualitative and quantitative methods.