Marketing research Lecture-3-process of Marketing Research

1. Marketing Research
Lecture-3 : Process of Marketing Research
Faculty : Ravi Kumar Singh, International School of management Patna

2. Lecture-3 : Process of MR
● Topics to be covered :
● Step 1: Defining the Problem (already discussed)
○ Step 2: Developing an Approach to the Problem
○ Step 3: Formulating a Research Design
○ Step 4: Doing Field Work or Collecting Data
○ Step 5: Preparing and Analyzing Data
○ Step 6: Preparing and Presenting the Report
ISM Patna/MR_1_Ravi_K_Singh

3. ● It means conceptualising a framework, an analytical
model, a blueprint, a plan, to find out the solution.
● In this step, we break the problem into specific
questions which are known as Research Questions
and further develop hypotheses.
● Our research questions define “What are the required
Information?” Why these information are necessary?
Step 2: Developing an Approach to the Problem

4. An analytical model is a set of variables
and their interrelationships designed to
represent, in whole or in part, some real
system or process.
The most common forms of analytical
models are
● Verbal
● Graphical, and
● Mathematical models.
Step 2: Developing an Approach to the Problem (cont…)

5. ● A research design is a framework or blueprint to
conduct the marketing research.
● It details the procedures necessary for obtaining the
information needed to structure or solve marketing
research problems.
● Its purpose is to design a study that will test the
hypotheses of interest, determine possible answers to
the research questions and provide the information
needed for making a decision.
Step 3: Formulating a Research Design

6. 1) Define the information needed (already discussed)
2) Design the exploratory, descriptive, and/or causal phases of
the research.
3) Specify the measurement and scaling procedures.
4) Construct and pretest a questionnaire or an appropriate form
for data collection.
5) Specify the sampling process and sample size.
6) Develop a plan of data analysis.
Components or Tasks of Research Design

7. In this step we collect the data as per our research design.
This phase is the most costly and the most liable to error.
● Points of consideration are-
○ Who will collect the data?
○ From where the data will be collected?
○ How it will be collected?
○ Who will be the respondents?
○ Sample, sampling method, sample size
Step 4: Doing Field Work or Collecting Data

8. ● Data preparation includes the editing, coding,
transcription and verification of data.
● Software like SPSS, SAS, R software , Minitab etc can
be used for analysis.
● Even we can use MS Excel to do some basic analysis.
Step 5: Preparing and Analyzing Data

9. ● The entire project should be documented in a written report that
addresses the specific research questions identified, describes the
approach, research design, data collection and data analysis
procedures adopted, and presents the results and major findings.
● Research findings should be presented in a comprehensible format
so that they can be readily used in the decision-making process.
● In addition, an oral presentation to management should be made
using tables, figures and graphs to enhance clarity and impact.
Step 6: Preparing and Presenting the Report