Stages Of Marketing Research

The broader definition of marketing research is the function that undertakes the study of market and consequently interlinks the consumer to the market through information - information used to identify and define marketing opportunities and problems, generate, and evaluate marketing actions; monitor marketing performance; and improve the overall understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the methods for gathering information, manages and translates the data collection process, analyzes, and presents the findings and their implications.

Marketing research process itself is a set of six steps which identifies and defines the tasks to be accomplished in conducting a marketing research study. The next section elaborates on different types of marketing research.

Identifying and defining your problem
Identifying and defining a problem is the first step in any marketing research project. For the purpose of defining the problem, purpose of the research study has to be taken into account, as well as the relevant background information, and type of information needed as research result, and how it will be used finally in decision making. Problem definition encompasses ideas from decision makers and advice from industry experts, analysis of secondary data, and some qualitative research, such as focus groups. Once the problem has been precisely defined, the research can be designed and conducted accordingly.

Development of an Approach to the Problem
Once your problem is defined, next step is to develop suitable approach to the problem that includes formulating an objective framework, analytical models, research questions, and identifying factors that can influence the research design for this help can be taken from industry framework like discussions with management and industry experts, case studies, analysis of secondary data, qualitative research and pragmatic considerations. The ideal approach should be developed almost exclusively around a defined set of objectives.

Research Design Formulation
A research design formulation is the most encompassing of all steps in marketing research project requiring tremendous amount of time, planning and expertise. Research design includes facts from secondary information analysis, qualitative research, selection of methodology, measurement and scale selection questions, questionnaire content, sample size and design as and lastly determining data analysis to be used.

Field Work or Data Collection
This is the point at which the survey instrument is used in gathering information among the chosen sample segments. Data collection involves personal interviewing, telephone or computer-assisted telephone interviewing and through Email or mail.

Data Preparation and Analysis
Depending upon the constructed questionnaire all analysis can be performed but before that data preparation is required that includes the editing, coding, transcription and verification of data. Simple analysis can be done through simple office suite tools while more complex analysis and larger data sets require dedicated market research analysis software.

Report Preparation and Presentation
Report preparation is documenting the entire project in a written report which includes the specific research questions which describes the approach to research design, data collection methods, and data analysis procedures adopted, and the findings results. The research findings should be concise and implications and recommendations are presented in a comprehensive format that allows the information to be used in decision making process and to be acted upon directly.