Marketing Research Process

Marketing Research is Systemic and Objective

This is a book resource with multiple pages. Navigate between the pages using the buttons.

Key Points

• The marketing research process involves six steps: 1: problem definition, 2: develop an approach to the problem, 3: research design formulation, 4: data collection, 5: data preparation and analysis, and 6: report preparation and presentation.
• The first step in any marketing research study is to define the problem while taking into account the purpose of the study, the relevant background information, what information is needed, and how it will be used in decision making. This stage involves discussion with the decision-makers, interviews with industry experts, analysis of secondary data, and, perhaps, some qualitative research, such as focus groups.
• Marketers can employ three types of objectives their research: exploratory research, descriptive research, and causal research.
• The marketing process details the procedures to obtain this information. It aims 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.
• Researchers need to choose the type of data they want to obtain from the respondents, such as via a survey or experiment and design a questionnaire and sampling plan to choose the most appropriate respondents for their study.
• Research design involves secondary data analysis; qualitative research; quantitative data methods (survey, observation, and experimentation); information needed; measurement and scaling procedures; questionnaire design; sampling process and sample size; and a plan of data analysis.
• Data collection involves a field force or staff that operates in the field, as in the case of personal interviewing, from an office by telephone, or through the mail (traditional mail and mail panel surveys with pre-recruited households).
• Proper selection, training, supervision, and evaluation of the field force helps minimize data-collection errors. Data is carefully edited, coded, transcribed, and verified so it can be properly analyzed during this phase of the research process. Verification ensures that the data from the original questionnaires have been accurately transcribed, while data analysis gives meaning to the data that have been collected.
• Bias must be avoided when interpreting data because only the results (not personal opinion) should be communicated.
• The entire project should be documented in a written report that addresses the specific research questions identified; describes the approach, research design, data collection, and data analysis procedures adopted; and presents the results and the major findings.
• The findings should be presented in a comprehensible format so they can be readily used in the decision-making process. An oral presentation to management, using tables, charts, and graphs, will enhance clarity and impact.

Terms

• Business Intelligence – Information that pertains to the history, current status, or future projections of a business organization.
• Data – Values of qualitative or quantitative variables belonging to a set of items; Data are typically the results of measurements and can be visualized using graphs or images
• Data Mining – A technique for searching large-scale databases for patterns; used mainly to find previously unknown correlations between variables that may be commercially useful.
• Ethnographic research – Information regarding cultural phenomena.
• Executive Summary – A short section or document that summarizes a longer report or proposal so readers can quickly learn about a larger work without having to read it in its entirety.
• Mall Intercept – A survey where respondents are intercepted in shopping malls to administer a survey on the spot or invite them to a research facility to conduct the interview.
• Market Research – The systematic collection and evaluation of data regarding customers' preferences for actual and potential products and services.
• Marketing Research – A research process that links the consumers, customers, and public to the marketer through information. This information is 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.
• Objective – Not influenced by irrational emotions or prejudices.
• Qualitative Research – A method of inquiry employed in many different academic disciplines, traditionally in the social sciences but also in market research and further contexts.
• Scientific Method – A body of techniques for acquiring new knowledge or correcting and integrating previous knowledge. To be termed scientific, a method of inquiry must be based on empirical and measurable evidence subject to specific principles of reasoning.
• Secondary Data – Information collected by someone other than the user of the data.
• Secondary Research – A research process that Involves the summary, collation, and synthesis of existing research rather than primary research, where data is collected from subjects or experiments.
• Survey Research – A research process that obtains information from a predetermined set of questions given to a sample, used to assess thoughts, opinions, and feelings.
• Systematic – Carried out using a planned, ordered procedure.

Marketing Research Is Systematic and Objective:

• Systematic planning is required at all stages of the marketing research process. The procedures followed at each stage are methodologically sound, well documented, and, as much as possible, planned in advance. Marketing research uses the scientific method in that data are collected and analyzed to test prior notions or hypotheses.
• Marketing research aims to provide accurate information that reflects a true state of affairs and, thus, should be conducted impartially. While research is always influenced by the researcher's research philosophy, it should be free from the personal or political biases of the researcher or the management.

Overview of the Marketing Research Process:

• Step 1: Problem Definition
• Step 2: Development of an Approach to the Problem
• Step 3: Research Design Formulation
• Step 4: Field Work or Data Collection
• Step 5: Data Preparation and Analysis
• Step 6: Report Preparation and Presentation

Source: Boundless, https://courses.lumenlearning.com/oakwood-principlesofmarketing/chapter/3-2-marketing-research-process/
This work is licensed under a Creative Commons Attribution 4.0 License