There are six steps in the marketing research process as we see it. Have a look –
Step 1: Defining the Issue
An important first step in any marketing research project is defining the issue. When it comes to identifying the issue, the researcher must consider the study’s purpose, as well as any relevant background data. Besides, the information required and the process by which it will be put to use in making decisions. Definition of the issue conversations with the decision-makers are followed by interviews with industry experts and an analysis of the data primary and secondary sources of information, along with perhaps some qualitative methods like focus groups. Once the issue had been resolved, a well-defined research question allows for an appropriate study design and execution.
Step 2: It’s now time to formulate a plan of action.
It is necessary to develop an approach to the problem, including the creation of analytical models and research questions and hypotheses as well as the identification of relevant data. Besides, with the help of management and industry experts, secondary data analysis, qualitative research and pragmatic considerations are used to guide the development of this process.
Step 3 : The research design process.
For a marketing research project, a research design is the framework or blueprint. The purpose of this document is to design a study that will test the hypotheses of interest, determine possible answers to the research questions. Besides, It provides the information necessary for decision-making by outlining the necessary procedures. It is also necessary to conduct exploratory research and to precisely define the variables, as well as to design appropriate scales for measuring those variables. The question of how to collect data from respondents (e.g., through a survey or an experiment) must be considered. As part of the research process, questionnaires and sampling plans must be developed. Formally, the following steps are involved in developing the research design:
- A description of the data that must be gathered
- Secondly, secondary data analysis
- Qualitative investigation
- Data collection methods for obtaining quantitative information (survey, observation, and experimentation)
- Procedures for taking measurements and scaling
- Design of the questionnaire
- sampling method and sample size
- Data analysis strategy
Besides, you have to learn – Importance of Marketing Research
Step 4: Fieldwork and/or Information Gathering
In the case of personal interviews like- in-home, mall intercept, or computer-assisted personal interviews, phone interviews like – telephone or computer-assisted telephone interviews, or surveys sent by mail like – traditional mail and mail panel surveys with prerecruited households, data are collected by a field force or staff that works either in the field or electronically (e-mail or Internet). However, Errors in data collection can be reduced by ensuring proper selection, training, supervision, and evaluation of the field staff.
Step 5: Data Preparation and Analysis is the final step in the process.
Editing, coding, transcription, and verification of data are all part of the data preparation process. If necessary, the questionnaire or observation form is edited or corrected before it is sent out. Besides, A unique identifier is assigned to each answer to each question in the survey. A computer is used to enter the data collected through the use of questionnaires, which can be keypunched or typed directly into the machine. Analyzing the data yields information that can be used to help with the decision-making process for the marketing research project.
Step 6: Writing and Presenting Your Report
There should be a written report outlining the research questions, how they were answered and how they were approached; data collection and analysis; and the findings presented and discussed. There must be an easy-to-understand presentation of findings for management to use when making decisions. An oral presentation should also be made to management using tables, figures and graphs for clarity and impact. Therefore, the Internet is being used to disseminate marketing research results and reports, which can then be made available to managers all over the world via the Web.