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Running Head: MARKETING RESEARCH

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Marketing Research
Institutional Affiliation
Student Name
Date

MARKETING RESEARCH

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Introduction

Marketing research can get defined as the interaction, interpretation, and development of
decision-oriented information and data to get utilized in all marketing process phases. Managers
need the information to enable the introduction of services and goods that create value for the
customer. However, value has a rational perception, and customer needs and requirements are
dynamic. Therefore, the elements that help create priority cannot get extracted from common
knowledge. Information and data from various heterogeneous sources must get accumulated and
examined. The primary goal of marketing research is providing executives with direction and
facts they require to make more important business and marketing decisions (Wilson, 2018).
Enhancing marketing research benefits, however, requires managers using it to comprehend the
process and its various limitations. The following are marketing research process six crucial
steps.
Process Steps
Defining the problem of the project is perhaps the most vital and first step. This step
helps the manager understand the primary question to get answered or informed by the marketing
research. The problem should get adequately defined because if it is too narrow, the desired
conclusion cannot get drawn, and if it is too broad, it can result in scarce resources wastage.
Appropriately Defining the problem requires organizations to answer several questions (Benzo et
al., 2017). These questions can include what the project's scope is? And what is the project's
purpose? The phase that follows defining the project’s problem is developing the research plan.
This phase comprises gathering information and data relevant to the research projects
objectives and goals. A researcher can collect data pertinent to the research problem from both

MARKETING RESEARCH

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the secondary and primary sources. A primary source can get defined as the first-hand data not
existing in any previous research reports and books. The secondary sources, on the other hand,
are second-hand data that is readily available in journals, magazines, and reports, among others.
Primary data requires to get collected, and several research methods can get conducted (Zikmund
et al., 2017). These methods for primary data can include ethnographic research, focus group
research, observational research, and survey research, among others.
Survey research is a form of descriptive study. Survey research gets conducted to identify
the customers' satisfaction levels, references, and their product knowledge and awareness. A
questionnaire is the best technique to perform surveys. Observational research is where the
researcher collects information and data from observing market activities and sometimes even
engaging custom...