What Are The 7 Steps In Marketing Research?

What Are The 7 Steps In Marketing Research?
Share

1 Answer

  1. Following are the 7 steps of a marketing research process:
    1. Identifying the problem that needs a solution: This phase is very crucial because if the problem for which the researchers are seeking solution is identified inaccurately, then the conducting market research will be futile.
    2. Selecting the research method: This steps includes formation of hypotheses, questionnaires, identifying research design, etc. This step is mainly to answer some questions like what is the research method and what, who is the research audience, budget, etc.
    3. Creating and selecting a sample for the research: In this stage you select the sample size, sample unit and the sample procedure.
    4. Determining research tools: In this step you finalize the research method to be used to collect data.
    5. Collecting data: In this step you start collecting data through different mediums like surveys, questionnaires, FGDs, etc which ever was decided upon.
    6. Analyzing data: Once data is collected from various sources, you then analyze the data to draw insights from it to solve your problem statement.
    7. Preparing report and presenting data: THe results of data analysis are presented to the stakeholders for decision making.
    https://www.feedough.com/marketing-research-process/ this article is good read on the market research process.

    • 0