In simple terms, market research is used to figure out what people want, and user research is used to figure out why they want what they want.  For user research, it is specific. It helps to find out how and why people use certain products so that you can focus on ones that more people will enjoy.  

However, with market research, you get information about a market and in turn figure out what people want and how to give it to them.  

The Big Question – User research or Market research ?  

The most important difference between market research and user research has to do with the results. If you only focus on what people want and need, you might miss important information that could have helped you meet a need that wasn’t being met and grow your business. In the same way, if you only watch how people interact with and use your products, you won’t be able to predict market demand or figure out how your competitors measure up.  

Based on this information, we can see that market research and user research will happen at different points in the development of a product or service.   

Market researchers are involved in the early stages of a product’s development. They look for ways to make money and give businesses information about the market’s needs, size, competition, and pricing. They use methods that focus on numbers. They look at large groups of samples to find out the average age of potential users, how much money they make, and other general facts.  

Also Read : Five Ways Market Research Can Improve Your Business

User researchers, on the other hand, work with the product teams to make features for a specific person. Often, qualitative research on users is done. They focus on a small group of people to find out more about them and what they want. With this information, the product team can fashion products and services that are just right for their users. They find out what each person thinks about a product that already exists and how it could be made better.  

When done right, market research and user research are used to reduce business risks and give stakeholders a clear plan for making successful products and services.  

Not to be a party pooper, but if you were looking forward to seeing a winner, there is none. Both types of research should be conducted by all businesses, even B2B businesses. This doesn’t mean you should start engaging in all kinds of research.   

Your goals will help you decide between market research and user research. But if you want to create a new product/service or make an existing one work better, you need to figure out what the market wants and make sure the right product is made for the right people in the right way. So, it’s likely that if you do both types of research, your results will be better. At Prunedge, our research teams have a lot of experience figuring out what questions to ask to get the information that your business needs.    

Read Here : Prunedge wins BIG at the BoICT 2022 Awards Night

Our strategy and research experts at Prunedge will help you use insights from market and user research in the various stages of product development and marketing. We study your customer’s behavior and identify their needs, from figuring out what your target audience needs and why they need them, to developing the product, to pre-sale, point-of-sale, and after-sale. Utilising that data to advise what features to create for your product to solve your customer’s pain points. 

Click on the “get in touch” button for a free 30-minute consultation to find out how we can help provide your business with a comprehensive study that guarantees you the best results. 

Gone are the days when vendors have to go from office to office carrying brown papers or clear bags to submit proposals, show catalogs and bid for contracts. Companies on the other hand also do not need to worry about storing files and getting worried that something might fall out and go missing during the process of carrying from one office to another.  

In addition, unlike other technologies that might spell doom for the work force. E-procurement does not lead to job losses, nor does it take away discretionary powers assigned to officials. Instead, it aids the traditional workflow process and reduces processing times.  

Also read : E-Procurement 101: Everything You Need To Know

Making use of an E- procurement system allows you to automate the several activities of the traditional procurement with workflows leading to increased productivity and better funds management. 

Our e-procurement tool – Iprokure, can help business managers locate potential vendors and suppliers, invite bids, review bids, award contracts, and oversee the management of contracts. Managing vendors and catalogues, as well as integrating purchase orders, creating invoices, and accepting payments online are some of the other activities involved.   

How does using our E-procurement system distinguish you from others 

• An improved and standardized system cuts down on cycle time and makes it easier for the management to follow the procurement process. 
• There is effective control which improves compliance, centralization, standards, requisition strategy and auditioning data which in turn improves budgetary control that limits spending and ensures a better reporting system.  
• Operation costs are reduced because there is the advantage of more competition among vendors. Spending is also clear, as administrators can see how much is being spent on purchase orders and other things.  
• The centralized tracking of transactions allows for full reports to be made on requisitions; items bought, orders processed and payment made.  
• The automation process will ensure that there are fewer mistakes and all documents are properly accounted for.  
• E- procurement data management helps with collaboration, analysis and decision making. It also helps to close holes associated with corrupt practices in the procurement process.  
• Everyone who uses the system will benefit from better supply chain mechanisms.  
• Internal purchasing is improved and with automatic bid processing, electronic purchase orders, and electronic billing, business can be done better, faster and cheaper.  

Reviews from current iProkure users have shown that most businesses have been able to save costs, manage their timelines better, and experience little or no compliance and fraud issues in the time they have been using our tool.  

Aside from the numerous benefits of Iprokure, business managers can also utilize insights to take a quantum leap to create new business models, improve service offerings and delivery timelines, thereby becoming a very important asset that allows for growth in all areas as the organization is concerned. 

Click on the ‘Get in Touch’ box at the top right and we will show you precisely what you need to do to turn your fortunes around in a free 30-minute consultation.