The Marketing Research ProcessParitosh Choudhary
The Marketing Research Process: 11 Steps• Step One: Establishing the Need for Marketing Research• Step Two: Defining the Problem• Step Three: Establishing Research Objectives• Step Four: Determining Research Design• Step Five: Identifying Information Types and Sources• Step Six: Determining Methods of Accessing Data
The Marketing Research Process: 11 Steps cont…• Step Seven: Designing Data Collection Forms• Step Eight: Determining Sample Plan and Size• Step Nine: Collecting Data• Step Ten: Analyzing Data• Step Eleven: Preparing and Presenting the Final Research Report
The Marketing Research ProcessStep One: Establish the Need for Marketing Research• When Marketing Research is not needed • The information is already available • Decisions need to be made now • You can’t afford research • Costs outweigh the value of the research
The Marketing Research Process Step Two: Define the Problem• The most important step in the marketing research process is defining the problem.• What is your team’s problem?
The Marketing Research Process Step Three: Establish Research Objectives• What information is needed in order to solve the problem? • Primary • Secondary • Both
The Marketing Research Process Step Four: Determine Research Design• Exploratory Research: collecting information in an unstructured and informal manner• Descriptive Research: refers to a set of methods and procedures describing marketing variables• Causal Research (experiments and other approaches): allows isolation of causes and effects via use of experiment or surveys.
The Marketing Research ProcessStep Five: Identify Information Types and Sources• Secondary Data: information that has been collected for some other purpose other than the research at hand• Primary Data: information that has been gathered specifically for the research objectives at hand
The Marketing Research Process Step Six: Determine Methods of Accessing Data• Secondary Data: accessing data through sources such as the Internet and library• Primary Data: collecting data through methods such as telephone, mail, online, and face-to-face (quantitative) and observation studies and focus groups (qualitative)• Both are excellent! Use both in your projects!
The Marketing Research Process Step Seven: Design Data Collection Forms• The design of the data collection form that is used to ask or observe and record information in marketing research projects is critical to the success of the project. It is easy to write a set of questions but very difficult to construct a questionnaire. • Questionnaires • Observation Studies
The Marketing Research Process Step Eight: Determine Sample Plan and Size• Sample plan: refers to the process used to select units from the population to be included in the sample• Sample size: refers to determining how many elements of the population should be included in the sample
The Marketing Research Process Step Nine: Collect Data• Data collection is very important because, regardless of the data analysis methods used, data analysis cannot “fix” bad data. 12 Nonsampling errors may occur during data collection. These are related to poor design and/or execution of the data gathering.• Sampling errors may occur based purely on chance• Trying to make a decision on a population from a sample
The Marketing Research Process Step Ten: Analyze Data• Data analysis: involves entering data into computer files, inspecting data for errors, and running tabulations and various statistical tests• Data cleaning: process by which raw data are checked to verify that the data have been correctly input from the data collection form to the computer software program
The Marketing Research Process Step Eleven: Prepare and Present the Final Research Report• The last step is one of the most important phases of marketing research.• Its importance cannot be overstated because it is the report, or its presentation, that properly communicates the results to the client.