MARKETING RESEARCH PROCESS:

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Marketing research process is a set of five - six steps which defines the tasks to be accomplished in conducting a marketing research study. These include problem definition, developing an approach to problem, research design formulation, field work, data preparation and analysis, and report generation and presentation.

Figure: Stages of marketing research process
Step 1:  Problem Definition

The first step in any marketing research project is to define the problem. In defining the problem, the researcher should take into account the purpose of the study, the relevant background information, what information is needed, and how it will be used in decision making. And involves discussion with the decision makers, interviews with industry experts, analysis of secondary data etc.

Step 2:  Development of an Approach to the Problem

Development of an approach to the problem includes formulating an objective or theoretical framework, analytical models, research questions, hypotheses, and identifying characteristics or factors that can influence there search design. This process is guided by discussions with management and industry experts, case studies and simulations, analysis of secondary data, qualitative research and pragmatic considerations.

Step 3:  Research Design Formulation

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.

Step 4:  Field Work or Data Collection

Data collection involves a field force or staff that operates either in the field, as in the case of personal interviewing from an office by telephone(telephone or computer-assisted telephone interviewing), or through mail. Proper selection, training, supervision, and evaluation of the field force help minimize data-collection errors.

Step 5:  Data Preparation and Analysis

Data preparation includes the editing, coding, transcription, and verification of data. Each questionnaire or observation form is inspected, or edited, and, if necessary, corrected. It guided by the plan of data analysis, gives meaning to the data that have been collected.

Step 6:  Report Preparation and Presentation

The entire project should be documented in a written report which addresses the specific research questions identified, describes the approach, the research design, data collection, and data analysis procedures adopted, and presents the results and the major findings.