9 Stages to Marketing Research Success

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Marketing Research Process: 9 Stages to Marketing Research Success
Stage 1: Formulating the Marketing Research Problem
Formulating a problem is the first step in the research process. In many ways, research starts with a problem that management is facing. This problem needs to be understood, the cause diagnosed, and solutions developed.However, most management problems are not always easy to research. A management problem must first be translated into a research problem. Once you approach the problem from a research angle, you can find a solution. For example, “sales are not growing” is a management problem.Translated into a research problem, we may examine the expectations and experiences of several groups: potential customers,
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Personal (face-to-face) and telephone interviews may require you to use a data collection agency (field service).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.

Stage 8: Analysis and Interpretation
In order for data to be useful, you must analyze it.Analysis techniques vary and their effectiveness depends on the types of information you are collecting, and the type of measurements you are using. Because they are dependent on the data collection, analysis techniques should be decided before this step.
Stage 9: The Marketing Research Report
The marketing research process culminates with the research report.This report will include all of your information, including an accurate description of your research process, the results, conclusions, and recommended courses of action. The report should provide all the information the decision maker needs to understand the project.It should also be written in language that is easy to understand. It’s important to find a balance between completeness and conciseness. You don’t want to leave any information out; however, you can’t let the information get so technical that it overwhelms the reading audience.One approach to resolving this conflict is to prepare two
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