The document outlines the 5 step marketing research process: 1) Define objectives and research needs by establishing the problem and determining if research is worthwhile, 2) Design the research to identify needed data and appropriate research methods, 3) Collect data from primary or secondary sources, 4) Analyze and interpret the data to turn it into useful information for marketers, 5) Develop and implement an action plan by having analysts present results to decision makers.

1. MARKETING RESEARCH
PROCESS
By: McKenzie Buschur

2. BEFORETHE MARKETING RESEARCH
PROCESS
 Research is expensive, managers ask themselves 3 questions before:
1. Will research be useful?
2. Management committed to results?
3. Should project be small or big?

3. WHAT IS MARKETING RESEARCH
PROCESS?
5 step research process
1. Define objective and research needs
2. Design the research
3. Collecting the data
4. Analyzing the data and developing insights
5. Developing and implementing an action plan

4. DEFINE OBJECTIVE AND RESEARCH NEEDS
 First step in the Marketing Research Process
 Establish the problem that needs solved
 Benefits of answers vs. cost of research
Answers
Cost

5. DESIGNTHE RESEARCH
 Second step in marketing research process
 Identify type of data needed
 Determine what type of research will get you that data

6. COLLECTINGTHE DATA
 Third step in marketing research process
 Data collected from primary or secondary sources
 Primary: data collected specifically for this research
Ex- Surveys, focus groups, in-depth interview
 Secondary: Information collected prior to research
Ex- internal data sources

7. DATA ANALYSIS
 Fourth step in marketing research process
 Analyze and interpret the data
 Turn data into information

8. DATA INTO INFORMATION
Data
-raw numbers
-information
-useless to
marketers
Organizing, analyzing and
interpreting data
Information
-useful to
marketers
-data in a form
-categorized
Data that is organized, analyzed and interpreted is then called information, which marketers find very useful

9. DEVELOP A PLAN
 Final step in marketing research process
 Analyst prepares results
 Presents them to decision makers
 Implements plan

10. MARKETING RESEARCH PRESENTATION
 The analyst presents research to decision makers
 Presentation includes
 Executive summary
 Body of report
 Research objectives
 Methods used
 Findings
 Conclusions
 Limitations
 Tables, figures charts