MM - The Marketing Reserach Process -

Thursday, December 29, 2016

MM - The Marketing Reserach Process

Marketing Research Process

1. Determine the problem and research objectives : In the marketing research prior undertaking the study it is necessary to determine the problem and research objectives. This stage involves defining the Problem, the Decision Alternatives, and the Research Objectives for a good result of research.

2. Develop the Research Design : Effectiveness of marketing research largely depends upon the formulation of an appropriate research design. Research design consists of adequate sample size, variables and proper tools for data collection suitable to the problem. A researcher has to collect substantial background material to conceptualize the research study prior the formulation of a research design.

a. Data Sources

Primary Data :Primary Data are the new data gathered specifically for the project at hand.
Sources of Primary data
  • · Survey Method
  • · Personal Interviews
  • · Telephone Surveys
  • · Mail Survey
  • · Observation Method
  • · Experimental method
Secondary Data : Secondary Data are available data, already gathered for some purpose. . The internet contains huge amounts of secondary data and free, published data can be obtained free with the help of professional library personnel.

b. Research Approaches

Observational research - Observation research approach is commonly used for formulating descriptive marketing research plans.

Focus group research - The focus-group and participatory approaches are useful exercises for exploratory marketing research that does not have complete perspective results

Survey research - The survey method has proved to be an effective research approach for exploratory studies for analyzing data.

Experimental research - Experimental research attempts to study the impact on the control group through different applications of business models, checks, reformative goals and qualitative/quantitative analysis methods to draw results.

c. Research Instrument

Questionnaires- A questionnaire is defined as a set of questions related to the research problem that are used for interviewing a sample respondent.

Psychological tests- The researcher’s focuses on researching the psychological dimension of the consumer.

Mechanical devices and Quantitative measures

d. Sampling Plan

Sampling unit- This is that element or set of elements considered for selection in some stage of sampling (same as the elements, in a simple single-stage sample).

Sample size- It is essential, for a marketing researcher to determine the sample size in terms of the number of respondents, regions, products, firms, etc. to be studied and the type of respondents to be covered under study.

Sampling Techniques- There are many techniques for sampling used in marketing research. The techniques depend upon the nature of the problem identified for the study and to the objectives set for the same. The various sampling techniques are detailed below:

  • Simple Random Sampling: It is not restricted to any one type of respondents, gender, income levels and other variables. The technique allows the researcher to pick sample respondents from the universe of study irrespective of class barriers.
  • Multi-stage Random Sampling: It prescribes that a researcher divide the universe of the study based on selected variables such as customers by age, customers by income level, customers by sex, etc. and select the samples randomly within the categories formed.
  • Cluster Sample Design: In this technique researcher group the respondents into a group or cluster. This can be done demographically or geographically or both depending upon the intensity of the data collection and the time schedule.
  • Stratified Sampling: In this process, the respondents clusters are made in hierarchical order and sample size is determined .
f. Contact Methods
  • Mail questionnaire
  • Personal interviewing
  • Online methods
  • Telephone surveys
3. Collect the Information – This stage is concerned with collection of date from primary and secondary data sources using various tools of data collection.

4. Analyze the Information-- This stage is comprised of organizing the data gathered and carefully analyze. Especially for quantitative studies, statistical software is often used to facilitate activities in this stage of the project. SPSS, SAS, (statistical package for the social) or a similar statistical package is often used to perform the analysis necessary for this step.

5. Present the Findings-
The end of the investigation is the researcher’s conclusions and recommendations in the form of a written report. After the data are analyzed, the researcher must draw conclusions from the findings and present the findings in a comprehensible manner. When summarizing and presenting a research project, the best guide is to keep it simple and ‘accessible’ to the reader of the report.

Make the Decision – This stage is concern with taking the appropriate decision to the problem concern.

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