Five Step Approach to Marketing Research
Mesa, Angelica F. MARK1013 BSA 1-4
Topic: Five-Step Approach to Marketing Research
Marketing Research – is a systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
There is Five-Step Approach to Marketing Research, these are follows:
1. Define the problem
A. Set the research objectives
Exploratory Research-is to gather preliminary information that will help to define the problem and suggest hypothesis.
Descriptive Research-is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.
Causal Research- is to test the hypothesis about the cause and effect relationship.
B. Identify possible Market
Measures of Success- criteria or standards used in evaluating proposed solutions to the problem.
2. Develop the Research Plan
A. Specify the constraints on the marketing research activity- knowing the restrictions placed on potential solutions to a problem.
B. Identify the needed for marketing decisions.
Concepts- mean ideas about products or services. This is creating new product concepts, it may be a picture or verbal description of a product or service the firm might offer for sale.
Methods- are approaches that can be used to collect data to solve all part of a problem.
C. Determine how to collect data
Sampling – select group of distributors ,customers or prospects and treating the information they provide as typical of all those in whom they are interested .
Statistical Reference- generalizes results from the sample to much larger groups of distributors, customers, or prospects to decide on marketing actions.
3. Collect relevant information- gathering data facts and figures related to the problem.
A. Obtain secondary data- these are facts and figures that have been recorded before the project at hand
Internal – knowing the sales, breakdowns, customer inquiries and complaints.
External – census, economic census,
Topic: Five-Step Approach to Marketing Research
Marketing Research – is a systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
There is Five-Step Approach to Marketing Research, these are follows:
1. Define the problem
A. Set the research objectives
Exploratory Research-is to gather preliminary information that will help to define the problem and suggest hypothesis.
Descriptive Research-is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.
Causal Research- is to test the hypothesis about the cause and effect relationship.
B. Identify possible Market
Measures of Success- criteria or standards used in evaluating proposed solutions to the problem.
2. Develop the Research Plan
A. Specify the constraints on the marketing research activity- knowing the restrictions placed on potential solutions to a problem.
B. Identify the needed for marketing decisions.
Concepts- mean ideas about products or services. This is creating new product concepts, it may be a picture or verbal description of a product or service the firm might offer for sale.
Methods- are approaches that can be used to collect data to solve all part of a problem.
C. Determine how to collect data
Sampling – select group of distributors ,customers or prospects and treating the information they provide as typical of all those in whom they are interested .
Statistical Reference- generalizes results from the sample to much larger groups of distributors, customers, or prospects to decide on marketing actions.
3. Collect relevant information- gathering data facts and figures related to the problem.
A. Obtain secondary data- these are facts and figures that have been recorded before the project at hand
Internal – knowing the sales, breakdowns, customer inquiries and complaints.
External – census, economic census,