The Market Research Process

Market research, like many other components of marketing, can be quite simple or very complex. You might conduct simple market research such as including a questionnaire in your customer bills to gather demographic information about your customers. On the more complex side, you might engage a professional market research firm to conduct primary research to aid you in developing a marketing strategy to launch a new product.
Regardless of the simplicity or complexity of your marketing research project, you will benefit by reviewing the following seven steps in the market research process.
Step One: Define Marketing Problems and Opportunities
Step Two: Set Objectives, Budget and Timetables
Step Three: Select Research Types, Methods and Techniques
Step Four: Design Research Instruments
Step Five: Collect the Data
Step Six: Organize and Analyze the Data
Step Seven: Present and Use Market Research Findings



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