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The exploratory approach attempts to discover general information about a topic that is not well understood by the marketer. For instance, a marketer has heard news reports about a new Internet technology that is helping competitors but the marketer is not familiar with the technology and needs to do research to learn more.
Exploratory research is an approach to market investigation that seeks to answer questions about a previously unknown subject through independent exploration. Learn how to perform exploratory research in this article.
Exploratory Research is research conducted for a problem that has not been studied more clearly, establishes priorities, develops operational definitions and improve the final research design. Exploratory research helps determine the best research design, data . Exploratory research is an important part of any marketing or business strategy. Its focus is on the discovery of ideas and insights as opposed to collecting statistically accurate data. That is why exploratory research is best suited as the beginning of your total research plan.
In this lesson, you'll learn about a type of research called exploratory research. You'll achieve a general understanding of the topic through. 3 Types of Marketing Research Designs (Exploratory, Descriptive, Causal).