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Process: 9 Stages to
Marketing Research
Success
November 05, 2012
I talked earlier about 20 different types of marketing research studies.
Once youve selected one that you find interesting ask yourself two
questions: first, how can you conduct your own marketing research for this
study?
And second, what are the basic steps you need to follow in order to
complete your project?
In this post, I will show you the steps of conducting a marketing
research project. While these stages are presented in order, you can be
creative and adapt the stages to meet your business needs. Some stages
can be completed in parallel to speed the project as it begins to develop.
1. Formulate a problem
2. Develop a hypothesis
3. Make predictions based on the hypothesis
4. Devise a test of the hypothesis
5. Conduct the test
6. Analyze the results
The terminology is similar to the stages in the research process. However,
there are subtle differences in the way the steps are performed. For
example, the scientific method is objective while the research process can
be subjective.
Objective-based research (quantitative research) relies on impartial analysis.
The facts are the priority in objective research. On the other hand,
subjective-based research (qualitative research) emphasizes personal
judgment as you collect and analyze data.
The research design is a plan or framework for conducting the study and
collecting data. It is defined as the specific methods and procedures you
use to acquire the information you need.
Internet surveys require fewer personnel, are lower cost, and can be
completed in days rather than weeks or months.
Regardless of the mode of data collection, the data collection process
introduces another essential element to your research project: the
importance of clear and constant communication.