Marketing Research
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Marketing research is a simple, organized and systematic collection and analysis of the data on the basis of the products and services. It involves a complete process based on various steps which help to attain the proper report of the research! The steps are based on the current marketing scenario. However, the statistics are based on the market conditions on various time frames. The research is partitioned in two sets, one is consumer and other is business to business. The approach of generating a marketing research report can be methodological, on the basis of the qualitative and quantitative.
In other words, we can call it a objective identification. The market research can be divided into the set of six steps. These steps are conducted on the basis of the firm’s own strategies. The first step can be defining a problem and that can be followed by developing a solution to it. After this a research design formula is developed which is a key solution to the problem and involves various analysis in terms of market. With the completion of it, the field work or data collecting task is completed. Then the data is prepared and analyzed which is very helpful for pursuing to the next step i.e. related to report making and management.
To start with the Marketing Research, it is very necessary to know the trends in the market, which helps to give the Problem Definition. This is totally based on decision making power of the perfect analyst. The solution to the problem is then formulated thereby forming a perfect strategy and algorithm to get through the problem. The blueprint is made and that takes helps from the organized secondary data and qualitative research of the departments. The traditional mails are visited, and the field work often involves taking feedback from their clients and then a proper design is formulated out of it. Thereby data is prepared and that is considered as raw until it is used to generate a report.
Marketing research ends with a complete structured report given by the specified team members. The report involves the graphical as well as theoretical structured data, and with the time the report is analyzed by the experts of the marketing department. Following all the steps the final report is generated as a solution to the problem. It contains the information about the coming up measures that can be useful for the company performance, following the same, companies adapt the planned structure that leads them to the safe-side in future.