Introduction:-
The important decision making related to advertise strategy and other tasks related to marketing depends upon findings or marketing research. Marketing research process reduces the chances of errors, miss conceptions and uncertainty from decision making process. Hence, it is very important to perform marketing research to recognize any changes in market environment, and understand customers and market. This means that this is the procedure of strategically importance.
Marketing Research Process can be explained as the medical systematical process which includes the steps of problem classification, data collection, research and reporting of data and results about certain concern if problem face by that firm. Kotler, et al (2007)
While matching to "American marketing Association" it is procedure for organized gathering, collecting and analysing data related to marketing problems in order to help firm.
Market studies are partially will depend on market research process that involves systematic stage smart steps that always starts from conceiving, research on basis of data accumulated and ends with recommendation and recommended action. It provides the organized and well designed way of general market trends and offering solution predicated on different research activities conducted within process. This systematic approach ensures that research design and implementation remained consistent with predefined research goals and goal. Malhotra, (2005) In the event research design and implementation doesn't regular with main purpose of research it isn't that much helpful for the business or end up with out responding to the research problem. The findings concluded as research of research process may maintain positivity or negative while negative conclusions are around valuable as positive. In many cases negative findings assists with revealing great deal of valuable information. Charles, (2005)
Overview of Marketing Research Process:-
As discussed before Marketing Research process involves step-by-step way where each step is meant to answer particular question. Kotler et al, (2007)
Why there may be need to execute the research. it describes the purpose of research in accordance with view of management needs marketing research article for decision making purposes. This first process requires comprehensive understanding of the decisions necessary to be made and problems needs to be tackled.
What research needs to conduct? At this stage the main purpose of research is progressed into aims of research that says the study team the aims to be achieved and research questions to be responded. At this time additionally it is analysed that If the research is worth conducting or not based on the costs of research as costs of research shouldn't be greater than
How research targets can be achieved? This step handles research design developed in order to achieve targets of research. In addition, it includes research procedure adopted and particular research tools chosen to conduct the research.
How research will be concluded? This task represents the tools and methods used to analyse gathered data, . This task interprets data into advice and finish. That ultimately right answers the study question.
As shown in the body above the initial decisions are mad eon the basis of first process that detail by detail develop into other stages based on approach and strategy adopted and just how research conducted. All the steps depend on each other and fails with out each other.
Stages of MARKETING RESEARCH PROCESS
Stage 1 Research Goal;-
The first rung on the ladder along the way of market research is to specify research goal. Research goal is not often very well described or fully understood. The process of totally and accurately determining and understanding research purpose always require attempts The accurately defined research purpose is dependant on some data and judgement. The usually reason for conducting general market trends relates to research of business problem, opportunities and other concern that make a difference business. additionally it is said a problem is half resolved if it is well described and recognized in appropriate way. Malhotra, (2005)
The research goal is usually developed as result of spotting and understanding problem. This issue is usually generated by realization of space between expected out come and the away come in reality. In other term it the difference or gap between goals and the results achieved against those objectives. The web recognized in the basis of three factors. Which includes some thing matching to desires or expected and what was happened or achieved as the difference between both of these is the problem is which difference or gap between two defines problem area. Charles, (2005)
It is also important to determine purpose of problem that where that problem occurred. The problem definition is the point on which the whole structure is made and it could be best referred to as the first point that may be achieved.
Research purpose usually includes few activities with distributed understanding of research team and management.
Opportunity and Problem analysis
Alternative Decisions Analysis
Users Research
These all responsibilities have been reviewed here as follows
Problem or Opportunity analysis:-
As discussed earlier problem or opportunity is main thing that motivates. For example declining sales in virtually any corporation can be problem needing research to analyse its causes and reasons. For instance people easting less ice cream can be problem as well as a chance at same time require further research to be able to over come that problem or exploit opportunities that can increase sales and earn much more earnings. The first activity is recognition and knowledge of problem or opportunity of strategic interest necessitating attention of management. The defining and recognition problem and needs analysis of opportunity and problem. While this is actually the first sub of marketing research process. in the context of situation research of market to begin exploratory research is required in order to identify opportunities and problems.
For example where sales of an organization are not showing adequate performance and there is need to investigate the identification of the factors that's affecting the sales performance. In other circumstance if there is need to correctly identify segments of customer that can be marketplace for future customer. Charles, (2005)
(b)Decision Alternative Analysis:-
The effective and well maintained research process is often associated with some kind of decision. in other words if research has ultimately no impact or has its part to try out in decision making process then your research is useless.
Researchers always needs to make in case there is no decision substitute means no decisions and if decision does not has an impact on decisions sue constraints and circumstances then it is the exercise of no value.
Research must give answer to choice decisions for factor and different feasible solutions of the challenge should always be produced from research. this will definitely boost the effectiveness of research, Decisions made can be very specific and duplicate test can be conducted to be able to select alternate while in other circumstance decision can be standard.
Researcher can get help from choosing between decision substitute through making standards for example in case of product designs management must choose from different alternatives. Your choice can made on the basis of some criteria like permanent sales, differentiating of different deals, reorganization of brand etc
Research team and management must decide the conditions to choose from alternatives in advance. For the reason that the criteria to choose for choice decision have results on the kind of criterion chosen. . As well as all decision making process additionally it is important to analysis the impacts of pressure of your time on decision process. If new government legislations are anticipated in forseeable future and research information that may be needed quickly before that legislations in order to analyse the influences.
Research Decision makers
Researcher team must know the targets and expectations of decision designers. It is intricate task to analyse and expectations of decision producers will be using that research. This task becomes more complex in case there is bigger problems as interpreting complex problem is also intricate task. Phoning decision maker to discuss problem statement can help in creating appropriate decision designers.
Step 2 Research Goals:-
Research aim is precise declaration about required information. It interprets problem assertion more accurately and in more understandable manner. Research aims are designed so that job of finding required information totally serve the research purpose. Research objective is vital part of research design as it is said if you don't have any idea of the thing you need and just what you are interested in then it will not be possible to think it is.
Research aims have three essential parts.
Research Question
The research question represents information required by management in charge of decision making. Research question signifies the information needs to obtained according to analyze purpose. Therefore in case of research question is answered then it should be helpful for the decision manufacturers in decision making process for which this research is conducted. For instance a cosmetic company likely to buy a comparatively small firm. One of the main benefits associated with this dominate for cosmetic company is eradication of one competitor in few products. The one of the main research question needs marketing research may be weather current sales team of this company enable you to take extra burden of circulation of that acquired company as well. The research objective was to find out level of overlapping between two organizations. There have been some initial information or suggestion could be utilized to help form research question. The study later found evidence of little overlapping because of difference in physical difference between major market sections of two companies. There is certainly possibility of several research questions which may provide one research goal. For example in the event that an organization needs to know weather or not the type of advertisement marketing campaign should run on specific times the research questions could be (a) how ad will impact customers behaviour(b)will this advertisements is effective enough to be get notice from consumer. Kotler et al, (2007)
Hypothesis
Hypothesis is researcher's view of possible answer to a research question. The Researcher may create possible results of research question in advance and carry out research to answer weather that hypothesis created at start of research was accurate or not. Therefore already known hypothesis has possibility to become simple fact as consequence of research. Hence by doing these already known answers becomes certainty. Kurtz et al, (2009)
For example a hypothesis can be created within an corporation about decling sales in some parts of countries. It may be possibly scheduled to increasing competition in thoese areas anticipated launch of new similar kind of products of same kind by competitors together with marketing campaign. Which atetemnet can be hypothesis required market research to validate that hypothesis. Such hypothesis ensures well targeted research. In the event the results of hypothesis validates the hypothesis then it becomes visible that hypothesis was accurate while it can be utilized in decision making process by decision designers possibly leading to developing new technique to sell its products in those parts of country. Oftentimes there can be multiple competing hypotheses and one of the research objectives can be to choose from best and exact hypothesis in accordance with research problem.
Scope of Research
As mentioned in previous section hypothesis development helps keeping research process more precise and well concentrated to provide research goal. Another important component of the research is indicating research boundaries or research limits. In addition, it helps research to be well focused in the terms that only well targeted and important research can be conducted. for example is young human population more drawn to apple IPhone or is the interest in specific brand is fixed to mens only and particular segment of society. Research team always check with decision makers in order to accurately identify research restrictions and boundaries. Opportunity of the study can be related to specific gender, get older, time limits and product or market specific etc. Kotler, et al (2007)
The agreed scope of research questions and objectives in conformity with accuracy of results. This is all based on research purpose. For instance in case of million dollars of investment it becomes increasingly more important to keep up highest level accuracy and reliability define research and research range to be able to accurately invest profit right way. In case of small scale research require less amount like decisions related for some products, or idea doesn't need very much higher level of accuracy as it can definitely provides some or even more idea to decision producers to get idea about potential causes and reasons of particular problem.
Step 3 :- Estimating the worthiness of Research information:-
After determining research purpose, objectives and scope it is also very important to calculate value of information required or the value of research problem that will possibly be replied in research question. In other words it is to analyse weather the study is worth any profit for company. It also really helps to determine the budget that might be spent on doing that research
The information value is estimated relative to its importance as identified in research goal. In the event research of significant value for example about investment decisions has higher information value. In the event research with higher value it will continue otherwise research may be decided not to proceed.
Step 4 :- Research Design
Research design is overall composition or framework of research that is developed to be able to perform research. Research designs express necessary information on approaches and treatment selected in order to conduct the research. (Kurtz et al, 2009) Research design includes exploratory research, adjustable meaning, scaling for dimension. Research design also illustrate the various tools will be utilized. it also includes questionnaire design, sampling and selection of respondent sections.
Research design may includes pursuing duties (Malhotra, 2002)
Primary and Supplementary Data analysis
Qualitative or Quantitative research Approach
(iii) Process of, Questionnaire making, Sampling and sampling size
Primary and Extra Data analysis:-
First & most important process of research design is to choose weather the type of data analysis is required. A couple of two types of data examination Most important data is data that research must accumulate by him self more specific to related to analyze conducted Principal data is usually conducted through questionnaire studies, interviews, and target organizations etc. it is first side information and will depend on the abilities of researcher team to accumulate it in accordance with research purpose. (Baker & Hart, 2003). Extra data is not first palm data as most important research it is the data already available like journals, literature, articles, company data etc. the research team doesn't need to find data by them self while they can utilize already available data for his or her research purposes.
Qualitative and Quantitative Research :-
After selecting type of data necessary for research. in case of research necessary to acquire his own data or new data to be able to execute his research. Research can be through quantitative or qualitative or both rely upon the choice of researcher. Qualitative data research usually means quantifiable data that may be some how measured in figures for example questions are posed so that respondents answers them in level its importance or satisfaction in quantities from 1 to 5 where 1 represents higher level and 5 represents lower degree or vice versa. While qualitative research can not be immediately measure din amounts for example results or answers gathered from interviews can be an example of qualitative research. Both have their own importance and used according to research requirements.
Process of questionnaires developing, sampling and sampling size
Research questionnaire is designed in order to assemble information from respondents in both ways quantitative and qualitative research. There are various types of questionnaire style that can used such as likert style questions, demographic style etc. Sampling is collection of people of respondents which will be geared to be utilised in survey. Sampling can be of two types of sampling probability and non possibility sampling. It is very important to accurately choose type and size of sampling in order to accurately conceive results of research. Type and size of research will depend on researcher although it should represent the whole population.
Step 5:- Data Collection
After planning questionnaire the next process is to practically get into submitted and distribute questionnaires among respondents. It can also be done through online surveys, phone interactions, in person interviews, and by post. In larger size marketing research full dedicated field team or person may be required in order to conduct research research or interviews and gather data. A proper trained registered team can help in reducing likelihood of mistakes in data collection. (Baker & Hart, 2003)
Step 6:- Data Analysis
After collection of data it is then refined to derived results in order to convert them in conclusion, data examination can be conducted with two methods manual or computer based mostly data analysis. There can be different types of mathematical formulas can be applied on data that is collected from questionnaires. it may also be checked for precision and validity. There are lots of computer software that can be used in order to perform data analysis for example, MS excel and SPSS is exemplory case of data research software.
Step 7 :- Reporting Results and Presentation
The Previous and last part of research process is to file whole project results and write record that answers that specific research question that was identified at start of research. Research statement also includes research approach implemented, design, collection and examination of data as well as all findings of data. This survey should be in the form to be ready for decision manufacturers to be used in decision maker process. Together with all report display should also be conducted with relevant characters, graphs and results etc. (Charles, 2005)
