STEPS IN MARKETING RESEARCH
Step 1: Define the problem and the research objectives
The 1st step in research is formulating a research problem. It is most important stage as poorly defined problems will not yield useful results. Also the marketing management must be careful not to define the problem too broadly or too narrowly.
In order to identify the research problem, three categories of symptomatic situations, namely, overt difficulties, latent difficulties and unnoticed opportunities should be studied.
Overt difficulties are hose which are quite apparent and which manifest themselves.
Latent difficulties are those which are not so apparent and which, if not checked, would soon become evident.
Unnoticed opportunities indicate the potential for growth in a certain area of marketing. Such opportunities are not clearly seen and dome effort is required to explore them.
Step 2: Develop the research plan
Designing a research plan calls for decisions on data sources, choice of research design, research approaches, research instruments, sampling plan and contact methods.
Step 3: Collect the information
Our research group collected the information over a period of 15 days and from various locations such as malls, residential complexes, colleges and schools and also retailers.
Step 4: Analyze the information
After the process of gathering information was completed we tabulated the data and developed frequency distributions and extracted the findings from the survey.
Step 5: Present the findings
Finally we prepared a project report on our survey and along with the findings we also presented our recommendations.
Step 6: Make the decision
Step 1: Define the problem and the research objectives
The 1st step in research is formulating a research problem. It is most important stage as poorly defined problems will not yield useful results. Also the marketing management must be careful not to define the problem too broadly or too narrowly.
In order to identify the research problem, three categories of symptomatic situations, namely, overt difficulties, latent difficulties and unnoticed opportunities should be studied.
Overt difficulties are hose which are quite apparent and which manifest themselves.
Latent difficulties are those which are not so apparent and which, if not checked, would soon become evident.
Unnoticed opportunities indicate the potential for growth in a certain area of marketing. Such opportunities are not clearly seen and dome effort is required to explore them.
Step 2: Develop the research plan
Designing a research plan calls for decisions on data sources, choice of research design, research approaches, research instruments, sampling plan and contact methods.
Step 3: Collect the information
Our research group collected the information over a period of 15 days and from various locations such as malls, residential complexes, colleges and schools and also retailers.
Step 4: Analyze the information
After the process of gathering information was completed we tabulated the data and developed frequency distributions and extracted the findings from the survey.
Step 5: Present the findings
Finally we prepared a project report on our survey and along with the findings we also presented our recommendations.
Step 6: Make the decision