Marketing Research Process
General characteristics of the stages of conducting market research
The plan of marketing research is determined by the features of the market or its segment, the specificity of the product or service, the goals and tasks facing the research, as well as the experience and tradition of the company.
In order to build and conduct a competent marketing research, it is necessary to study the components of its stages (figure 3.1) and determine whether it meets the following requirements:
• The problem, goals, research problems are correctly defined, hypotheses are formulated;
• the necessary information is determined, the most productive sources are selected;
• the necessary research tools have been prepared;
• the information is collected with observance of all rules and on time, with minimal costs;
• Information is analyzed and processed using effective techniques using modern technical means
• The report is made logically, the solution of the tasks set at the planning stage of the research was found, the hypotheses were confirmed or the hypotheses were disproved.
Among the main methodological principles of marketing research include:
• a systematic approach, providing for the consideration of marketing research as a single object having an ordered structure and interrelationships
• objectivity - orientation to the reflection of the real picture of the market, and not the vision of it by managers or researchers, i.e. accounting for all factors. You can not make a decision until all the factors are taken into account and the analysis of all the collected data is completed;
• accuracy - the research objectives should be set clearly, not to allow multivalued interpretation. Research tools should ensure the reliability of the results;
• Carefulness assumes detailed planning of the research stages and high quality of each operation, which is achieved due to the professionalism and responsibility of the research team, as well as an effective control system
• specificity - the orientation of marketing research to solve a specific problem;
• focus on the solution - information about the market is required not to satisfy the interest of researchers, but to make managerial decisions.
Fig. 3.1. The main stages of the market research process
Problem statement and definition of research objectives
As already noted, the first stage of marketing research is the formulation of the problem, taking into account which the action plan will be built and the entire research project will be formed. Clearly and clearly formulated problem allows to reduce the degree of complexity of other stages, their labor intensity, reduces time costs in subsequent stages.
The main task of a marketing researcher is to transform a problem that requires a solution into one that requires research.
The first problem determines what needs to be done. Studies provide information that is necessary to justify the choice, so the second problem is to determine the information, as well as the ways to obtain it. The transformation of the first type of problems into the second is done jointly by marketers and managers.
The elements of the problem statement are shown in Fig. 3.2, and the classification of the objectives of the research, directly stemming from the problem identified at the first stage, and pursuing the possibilities of obtaining the information required to justify and make marketing decisions - in Fig. 3.3.
Fig. 3.2. Elements of the problem statement
Fig. 3.3. Classification of research objectives
Depending on the goals set, the tasks, the object, the nature and scope of the forthcoming works are determined. At this stage, it is significant that, based on the agreement to which the customer and executor came in the course of negotiations, to come to a common opinion about the content of the tasks that need to be determined in the most detailed way.
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