Answer to Question #125061 in Marketing for Ally Ahmed

Question

Discuss the activities associated with the stages of marketing research process( 7marks)

Answer 1

The marketing research process comprises six steps. The first step in marketing research is the problem statement, which entails identifying and defining the problem that the company is facing. State the actual problem that needs to be solved. Businesses should take into account the causes of the problem and develop questions that define the problem. The second step is developing an approach to the problem, which involves establishing research objectives that can easily be achieved. Researchers formulate hypotheses and identify factors that can influence research design. Another step of the marketing research process is the formulation of the research design. A research design is a framework that details the procedures for obtaining information that is required. It outlines where data will be collected and from who. The researcher should determine the method of collecting qualitative data. The fourth step in marketing research is data collection. The data collected should be relevant and unbiased. Data can be gathered in two methods, namely surveys and observation. Surveys involve conducting interviews through face to face, by telephone or email. The next step is to analyze the data. After gathering all information needed, the data is organized, reviewed, edited, verified, and interpreted. The final step is to report preparation and presentation. This step involves activities of presenting research findings and drawing conclusions.