Elaborate the steps of conducting a Marketing Research .

A typical marketing research process is as follows:

Step 1: Defining the marketing research problem

Defining a problem is the first step in the research process. In many ways, research starts with a problem facing management. This problem needs to be understood, the cause diagnosed, and solutions developed.

However, most management problems are not always easy to research, so they must first be translated into research problems. Once you approach the problem from a research angle, you can find a solution. For example, “sales are not growing” is a management problem, but translated into a research problem, it becomes “why are sales not growing?” We can look at the expectations and experiences of several groups: potential customers, first-time buyers, and repeat purchasers. We can question whether the lack of sales is due to:

Poor expectations that lead to a general lack of desire to buy, or

Poor performance experience and a lack of desire to repurchase.

This, then, is the difference between a management problem and a research problem. Solving management problems focuses on actions: Do we advertise more? Do we change our advertising message? Do we change an under-performing product configuration? And if so, how?

Defining research problems, on the other hand, focus on the whys and hows, providing the insights you need to solve your management problem.

Step 2: Developing a research program: method of inquiry

The scientific method is the standard for investigation. It provides an opportunity for you to use existing knowledge as a starting point, and proceed impartially.

The scientific method includes the following steps:

Define a problem

Develop a hypothesis

Make predictions based on the hypothesis

Devise a test of the hypothesis

Conduct the test

Analyze the results

This terminology is similar to the stages in the research process. However, there are subtle differences in the way the steps are performed:

the scientific research method is objective and fact-based, using quantitative research and impartial analysis

the marketing research process can be subjective, using opinion and qualitative research, as well as personal judgment as you collect and analyze data

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