Step
1:
Defining
the problem (the decision
for which info. is needed)
and research objectives
along with:
market
structure
·
size
of market, stage of development etc.
product
concept
·
meaning
of product in a particular
environment
Marketing
research project may have one of the
three types of objectives;
·
Exploratory
research -
is to gather preliminary information
that will help define the
problem
and
suggest hypothesis
·
Descriptive
research -
is
to describe things such as market
potential for a
product,
demographics,
or attitudes of customers
·
Causal research
-
is to test hypothesis about
cause-and-effect relationships
Step
2:
Once
research objectives are
properly defined the marketer /
researcher should then
develop the detailed
plan
for conducting the research. A
detailed research plan
should include the following
five aspects;
Developing
the research plan
Determining
specific information
needs
research
objectives must be translated into
specific information needs
·
Plan for
gathering secondary
information
information
that already exists somewhere,
having been collected for
another purpose -
·
relevant,
current, impartial (objectively
collected & reported)
Primary data
collection plan
information
collected for the specific purpose at
hand - research approaches :
observation, survey,
experiment
Deciding contact
method
mail,
telephone, personal
·
Detailing the
sampling plan
sampling
unit, sample size, sampling
procedure
·
Step
3:
Implementing
the research plan
·
data
collection phase is generally the
most expensive & most subject to
error - wrong
implementation,
problems in contacting respondents, biased
or dishonest answers,
problems
with interviewers (mistakes or
short-cuts)
Step
4:
Interpreting
and reporting the
findings
·
both
researchers & managers must
work together at this stage
- researchers know
methodology
better while managers
understand problems and possible
management solutions
better
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