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what is different between applied market research and basic market research


Sagot :

Basic Research or otherwise called as pure or fundamental research, is one that focuses on advancing scientific knowledge for the complete understanding of a topic or certain natural phenomenon, primarily in natural sciences. In a nutshell, when knowledge is acquired for the sake of knowledge it is called basic research.

Applied Research can be defined as research that encompasses real life application of the natural science. It is directed towards providing a solution to the specific practical problems and develop innovative technology.

While basic research aims at expanding knowledge by creating new theories and modifying existing ones, applied research is focused on providing practical solutions to specific problems by analyzing empirical evidence.
Basic market research is basically scientific knowledge, something you know based on information. Applied market research is digging deeper into the problem and looking for solutions.
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