Market Research Process: Steps, Design, Data Collection, Analysis, and Reporting
Classified in Economy
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'MK process links consumers, customers, and end market users to the market through information - which is used to identify and define actions, monitor marketing performance. Market research helps in finding that information. 'Steps
1. Identify & pb operatio.
- pb, inf. Needs, hypotheses (3 object first)
2. Research design
- choice study type, choice method data collection
3. Data collection
- sampling frame, data collection
4. Data analysis
- control, coding, data manipulation, data analysis
- org, familiarize, coding, themes identify = thematic or symbolic is more psychological.
5. Data analysis & reporting
- major take-outs, recommendations, limitations
Random, Stratified (groups/R), Judgment, Quota (10 w 5-10), Snowball (sharing), Cluster (groups), Opportunity (help to fill)
PVALUE. Hypothesis. 1q to another to see if link
Exploratory R = unaware of pb, ambiguity. No information target population.
Conclusive = you know the answer to the pb but need to prove it.