for detail explanaition you can check my youtube channel www.youtube.com/c/SuccessG in this presentation i have tried to explain all the important Steps in Marketing Research Process, and their Description in easy language.
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Marketing research process, Process of Marketing Research & Marketing Research design or Plan
1.
2. “The process or set of processes that links the
producers, customers, and end users to the
marketer through information used to identify and
define marketing opportunities and problems;
generate, refine, and evaluate marketing actions;
monitor marketing performance; and improve
understanding of marketing as a process.”
WHAT IS MARKETING
RESEARCH
3. “The Marketing Research is the systematic
collection, analysis, and interpretation of data
pertaining to the marketing conditions.”
WHAT IS MARKETING
RESEARCH
4. “Fundamental research seeks to extend the
boundaries of knowledge in a given area and doesn’t
necessarily solve your immediate problems.
Nevertheless, it has useful applications. It reveals
information and relationships that could be useful at
a later date.
The Green Yogurt company conducted fundamental
research about consumer preferences for certain
combinations of fruits, nuts, and caramel that differ in sugar
type and strength of sweetness.
FUNDAMENTAL RESEARCH
5. Applied research gathers information to solve a
specific problem or set of problems.
EG. Blind taste test of Coke
APPLIED RESEARCH
6. The marketing research process can be defined as
the process of gathering, analyzing and interpreting
the information about the product or the services
to be offered for sale in the market, the market
and about past, present and any potential consumers
for the products.
MARKETING RESEARCH
PROCESS
8. Step I- Identify / Define the Problem.
Step II- Develop The Research Plan / Design.
Step III- Collect The Information.
Step IV- Analyze the Information.
Step V- Present The Findings.
Step VI- Make The Decision.
MARKETING RESEARCH
PROCESS
9. The problem must be defined adequately because if
it is too vague, then it may result in the wastage of
scarce resources and if it is too narrow, then the
exact conclusion cannot be drawn.
Each firm must have a clear answer to the questions
viz. What is to be researched (content and the
scope)? And Why the research is to be done
(decisions that are to be made)?
STEP I- Define the Problem
10. 1. Specify the Research Objectives.
2. Review the Environment or Context of the
Problem.
3. Explore the Nature of the Problem.
4. Define the Variable Relationships. (consider as
many courses of action and variable relationships as
possible. )
5. The Consequences of Alternative Courses of
Action. (Anticipating)
STEP I- Define the Problem
11. Such objectives may be stated in qualitative or
quantitative terms and expressed as research
questions, statement or hypothesis.
For example, the research objective, “To find out
the extent to which sales promotion schemes
affected the sales volume” is a research objective
expressed as a statement.
Statement of Research objectives
12. The research design refers to the overall strategy
that you choose to integrate the different
components of the study in a coherent and logical
way, thereby, ensuring you will effectively address
the research problem; it constitutes the blueprint
for the collection, measurement, and analysis of
data.
Step II Develop The Research Plan
13. Data Sources: Primary & Secondary.
Research Approaches: Observational Research,
Ethnographic Research, Focus Group Research,
Survey Research, Behavioral Data, Experimental
research.
Sampling plan: The sampling Unit (Whom), The
sample size (How many), The sampling procedure
(How)
The Research Plan Includes.
14. Depending on the mode of data collection, this part
of the process can require large amounts of
personnel and a significant portion of your budget.
Personal (face-to-face) and telephone interviews
may require you to use a data 12 | Marketing
Research
collection agency (field service). Internet surveys
require fewer personnel, are lower cost, and can be
completed in days rather than weeks or months.
Step III- Collect The Information.
15. Once the information is collected the next step is
to organize it in such a way that some analysis can
be obtained.
The researchers apply several statistical techniques
to perform the analysis, such as they compute
averages and measures of dispersion. Also, some
advanced decision models are used to analyze the
data.
Step IV- Analyze the Information.
16. This report will include all of your information,
including an accurate description of your research
process, the results, conclusions, and recommended
courses of action.
All the findings and the research are shown to the
top management level viz. Managing director, CEO,
or board of directors to make the marketing
decisions in line with the research.
Step V- Present The Findings
/Report.
17. This is the last step of the marketing research,
once the findings are presented to the top level
management it is up to them either to rely on the
findings and take decisions or discard the findings
as unsuitable.
Step VI- Make The Decision.
.
