Defining the problem and research objectives is the first step involved in the marketing research process. Outline objectives and problems as part of the marketing research process
1. Exploratory research
The research design is a framework or blueprint for conducting the marketing research project. Describe the formulation of research design within the context of the marketing research process
A research design is a framework or blueprint for conducting the marketing research project. It details the procedures necessary for obtaining the required information, and 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 decision making. Decisions are also made regarding what data should be obtained from the respondents (e,g,, by conducting a survey or an experiment). A questionnaire and sampling plan also are designed in order to select the most appropriate respondents for the study. The following steps are involved in formulating a research design:
Developing the research plan for collecting information: The research plan outlines sources of existing data and spells out the specific research approaches, contact methods, sampling plans, and instruments that researchers will use to gather data. This plan includes a written proposal that outlines the management problem, research objectives, information required, how the results will help management decisions, and the budget allocated for the research. Data collection is a crucial step in the research process because it enables the generation of insights that will influence the marketing strategy. Construct the rationale of field work or data collection from a marketing research process perspective
Data Analysis is an important step in the Marketing Research process where data is organized, reviewed, verified, and interpreted. Summarize the characteristics of data preparation and methodology of data analysis
During this phase of the research process, data is carefully edited, coded, transcribed, and verified in order for it to be properly analyzed. Statistical market research tools are used. The validity of the results is also assessed to confirm how well the data measures what it is supposed to measure. Oftentimes, the research team will arrange a debriefing session with the client to review highlights from the data and brainstorm potential ideas on how the findings can be implemented. This typically happens when a client hires a market research company and they want to remain thoroughly involved in the research process.
A successful presentation provides conclusions (based on the insights gathered) that effectively meet the objectives of the research. Identify the characteristics of preparing,presenting and documenting the results of marketing research
A successful presentation will include but is not limited to the following elements:
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