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7 Stages or Steps Involved in Marketing Research Process

Stage 1: Formulating the Marketing Research Problem

❶Personal face-to-face and telephone interviews may require you to use a data collection agency field service. Marketing Research and Market Research:

Stage 2: Method of Inquiry

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The research design is a plan or framework for conducting the study and collecting data. It is defined as the specific methods and procedures you use to acquire the information you need.

Your research design will develop as you select techniques to use. There are many ways to collect data. Two important methods to consider are interviews and observation. Interviews require you to ask questions and receive responses. Common modes of research communication include interviews conducted face-to-face, by mail, by telephone, by email, or over the Internet.

This broad category of research techniques is known as survey research. Another way to collect data is by observation. Data collection techniques for past behavior can include analyzing company records and reviewing studies published by external sources. In order to analyze information from interview or observation techniques, you must record your results. Because the recorded results are vital, measurement and development are closely linked to which data collection techniques you decide on.

Your marketing research project will rarely examine an entire population. In order to design your sample, you must find answers to these questions:. This will allow you to make inferences about a larger population. There are two methods of selecting a sample from a population: Non- probability is based in part on the judgment of the investigator, and often employs convenience samples, or by other sampling methods that do not rely on probability.

The final stage of the sample design involves determining the appropriate sample size. This important step involves cost and accuracy decisions. Larger samples generally reduce sampling error and increase accuracy, but also increase costs. Depending on the mode of data collection, this part of the process can require large amounts of personnel and a significant portion of your budget.

Personal face-to-face and telephone interviews may require you to use a data collection agency field service. Internet surveys require fewer personnel, are lower cost, and can be completed in days rather than weeks or months. Regardless of the mode of data collection, the data collection process introduces another essential element to your research project: Analysis techniques vary and their effectiveness depends on the types of information you are collecting, and the type of measurements you are using.

Because they are dependent on the data collection, analysis techniques should be decided before this step. This report will include all of your information, including an accurate description of your research process, the results, conclusions, and recommended courses of action.

The report should provide all the information the decision maker needs to understand the project. It should also be written in language that is easy to understand.

One approach to resolving this conflict is to prepare two reports: The technical report discusses the methods and the underlying assumptions. In this document, you discuss the detailed findings of the research project. The summary report, as its name implies, summarizes the research process and presents the findings and conclusions as simply as possible.

Another way to keep your findings clear is to prepare several different representations of your findings. PowerPoint presentations, graphs, and face-to-face reports are all common methods for presenting your information.

Along with the written report for reference, these alternative presentations will allow the decision maker to understand all aspects of the project.

In this step you will first determine your market research method will it be a survey, focus group, etc.? You will also think through specifics about how you will identify and choose your sample who are we going after?

This is also the time to plan where you will conduct your research telephone, in-person, mail, internet, etc. Once again, remember to keep the end goal in mind—what will your final report look like? Your choice of research instrument will be based on the nature of the data you are trying to collect.

There are three classifications to consider:. Exploratory Research — This form of research is used when the topic is not well defined or understood, your hypothesis is not well defined, and your knowledge of a topic is vague. Exploratory research will help you gain broad insights, narrow your focus, and learn the basics necessary to go deeper.

Common exploratory market research techniques include secondary research, focus groups and interviews. Exploratory research is a qualitative form of research.

The goal of this form of market research is to measure specific topics of interest, usually in a quantitative way.

Surveys are the most common research instrument for descriptive research. In this case, you are trying to determine a causal relationship between variables. For example, does the music I play in my restaurant increase dessert sales i. You get the idea. This is the part of the process where you start executing your plan. By the way, step 3. Take your sample data and get it into a spreadsheet; are there any issues with the data structure?


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Market Research Process 95, views. Share; Like; Download Asia Pacific Marketing Institute. Follow Market Research Presentation spawluko. Marketing research process Rajesh Kuthalingam. Marketing research ppt School of Management Studies(NIT calicut) Marketing research process.

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Marketing research ppt 1. MARKETING RESEARCH NAVIN JOSEPH MMS Research• Online research: the use of computer networks, including the Internet, to assist in any phase of the marketing research process including development of the problem, research design, data gathering, analysis, and report writing and distribution.

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The market research process is a systematic methodology for informing business decisions. There are six basic steps, starting with defining the problem and understanding your research objective. Marketing Research ppt - Free download as Powerpoint Presentation .ppt), PDF File .pdf), Text File .txt) or view presentation slides online. It involves all the process of MR Search Search5/5(1).