Understanding the difference between a marketing research survey and a marketing experiment is essential when making informed decisions about your market. 

Marketers use marketing research surveys and experiments to gain insights into the behavior of their target audience. But what’s the difference between these two methods? When should you use a survey, and when should you use an experiment? Understanding these concepts will help you make the best decisions for your business.

What is a Marketing Research Survey?

A survey is market research designed to gather customer information about their attitudes, beliefs, and behaviors concerning a brand or product. Surveys typically involve asking a series of questions that respondents answer. The results can give marketers valuable insights into customer preferences and buying habits. Surveys can be conducted online or in person, depending on the marketer’s goals.

Surveys are often used for:

• Gathering customer demographic data such as age, gender, income level, etc.
• Measuring customer satisfaction with products or services.
• Gauging customer opinions on new products/services.                                              
• Assessing public opinion on current events or issues related to a brand/product.  
• Identifying potential opportunities for growth within an industry.

What is a Marketing Experiment?

A marketing experiment is an analytical method to test hypotheses about how consumers respond to certain stimuli. Experiments are generally more complex than surveys because they involve manipulating one or more variables while measuring another variable in response. For example, marketers might test different versions of an advertisement to determine which version yields higher sales conversions. Experiments can also involve testing different pricing strategies or product features to determine which combinations produce the best results.

Experiments are often used for:

• Testing changes in messaging for ads/marketing campaigns.    
• Comparing different pricing strategies.   
• Determining how various product features affect sales conversions.   
• Analyzing how consumer behavior changes based on other circumstances.    
• Identifying correlations between customer preferences and buying habits.

Marketing research surveys and experiments play an important role in understanding consumer behavior and making informed decisions about your business’s products or services. Surveys are great for gathering large amounts of data quickly and cheaply, while experiments allow you to test hypotheses and measure changes in consumer behaviors directly within a controlled environment. It’s essential to consider your goals before deciding whether to use a survey, an experiment, or both! —in your next marketing plan. 

No matter which tool you use, having accurate information will help you make smarter decisions for your business’s success!