Questions Sales and Marketing

What is the marketing research process?

Airtract

Anshuman Bassi

Average is boring

The marketing research process needs a lot of procedures to be followed. Marketing research is the study of the business market and the required strategies which help in developing a perfect connection between the consumers and the company. Marketing research thus needs to be followed through some procedures. They are as follows:

1. There may be many reasons for which a company wants to conduct marketing research. Thus, the first thing which you need to do before planning for a study is to settle your specific mission or objective for which you want the research. Preparing for a proper goal will give you the inspiration and knowledge to go for the next step. There may be many such problems that cannot be solved through marketing research. Thus, you need to be very particular about choosing your objective for such research works, you need a lot of information, data, surveys, etc. The goals where the data can be adequately collected can produce good results as well.

2. The next procedure comes with the selection of the research design. As you are clear with your objective, it will be easier for you to select which of the research type you need to follow for conducting the complete research. The research design is the basic footprint which helps you to progress correctly. There are mainly 3 types of research that can be followed: Exploratory analysis, descriptive research, and causal research. Select your research type according to the availability of data. 

3. The next step leads to the selection and preparation of the research tools. Research tools may be in the form of questionnaires or interview schedules or FGD (Focus Group Discussion) and many more. These tools help you to collect data from various sources. It is not required that you need to follow only a particular instrument. You can even use a combination of multiple devices at a time.

4. Now you can quickly collect the data from the selected sources you planned in your research designs. This is the most vital step for your marketing research. It is very tough to get primary data nowadays for which most of the companies use secondary data for collection. Follow proper documentation as you collect the data. 

5.  After the selection of the data, analyze your data thoroughly. Data analyzation helps you to schedule your data in proper order.

6. Prepare a tabulation or comprehensive documentation and examine for the numbers and percentages. You can also prepare charts and graphs which will present your results well. As you get the results to make a proper presentation and publish it as the research outputs.

Read more: How to become a market research analyst?

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