Marketing Research Is Systematic and Objective:
- Systematic planning is required at all the 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
Step 1: Problem Definition
Define the problem and research objectives. 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. There are three types of objectives that can be deployed in marketing research:
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The first stage of the marketing research process involves defining the problem.
1. Exploratory research
- Used to better define a problem or scout opportunities.
- In-depth interviews and discussions groups are commonly used.
2. Descriptive research
- Used to assess a situation in the marketplace (i.e., potential for a specific product or consumer attitudes).
- Methods include personal interviews and surveys.
3. Causal research
- Used for testing cause and effect relationships.
- Typically through estimation.