It is also necessary to design a questionnaire and a sampling plan to select respondents for the study. Formulating the research design involves the following steps: Proper selection, training, supervision, and evaluation of staff members helps minimize data-collection errors. Data preparation and analysis is the fifth step and includes the editing, coding, transcription, and verification of data.
Each questionnaire or observation form is inspected, or edited, and, if necessary, corrected. Number or letter codes are assigned to represent each response to each question in the questionnaire.
The data from the questionnaires are transcribed or key-punched on to magnetic tapes, or disks or inputted directly into the computer. Verification ensures that the data from the original questionnaires have been accurately transcribed. Analyzed data gives meaning to the information that have been collected.
Univariate techniques are used for analyzing data when there is a single measurement of each element or unit in the sample, or, if there are several measurements of each element, each RCH variable is analyzed in isolation. On the other hand, multivariate techniques are used for analyzing data when there are two or more measurements on each element and the variables are analyzed simultaneously. The last stage is the report preparation and presentation.
The entire project should be documented in a written report and the results and major findings must be presented. The findings must be in a comprehensible format so that they can be readily used in the decision making process. In addition, an oral presentation should be made to management using tables, figures, and graphs to enhance clarity and impact.
For these reasons, interviews with experts are more useful in conducting marketing research for industrial firms and for products of a technical nature, where it is relatively easy to identify and approach the experts.
This method is also helpful in situations where little information is available from other sources, as in the case of radically new products. Primary data is sourced by the researcher for the specific purpose of addressing the research problem. On the other hand, secondary data is collected for some purpose other than the problem at hand. This data includes information made available by business and government sources, commercial marketing research firms, and computerized databases.
Secondary data is an economical and quick source of background information. Information, industry experts, and secondary data may not be sufficient to define the research problem. Sometimes qualitative research must be undertaken to gain a qualitative understanding of the problem and its underlying factors. Qualitative research is unstructured, exploratory in nature, based on small samples, and may utilize popular qualitative techniques such as focus groups group interviews , word association asking respondents to indicate their first responses to stimulus words , and depth interviews one-on-one interviews which probe the respondents' thoughts in detail.
Other exploratory research techniques, such as pilot surveys with small samples of respondents, may also be undertaken. This is the most important part after the problem definition. This is where you will be informing your readers why you have chosen this topic for research and present valid rationalizations for it.
There are basically two types of data that is used for research, primary and secondary data. Which type of data will you be using? Tips Based on the explanation above, try to understand which type of data will you need for your marketing study? This usually depends on the kinds of variables involved in your study.
So by clearly understanding and following the above mentioned components and tips, formulating market research problem statements for your thesis or dissertation can be done in no time. You are commenting using your WordPress. You are commenting using your Twitter account.
You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. Industrial Engineer and MBA with extensive experience in business areas, an expert on the deployment of business strategies in competitive markets like telecomunication, banking, leasing, cable TV and higher education. In summary … Business! There are three main components to a good research problem in marketing. What is the exact problem that needs to be solved?
Where does the problem occur? When does the problem occur or what factors contribute to the occurrence of the problem? Tips To formulate good justifications, just answer the following questions: Why is this study necessary? What will happen if this study is ignored? Primary data is obtained by first hand observations or communication. It usually involves questionnaires filed by the target audience, personal interviews or focus groups arranged for a specific purpose.
• Defining the marketing research problem sets the course of the entire project. 7 7. Importance of Defining the Problem • Problem definition involves stating the general marketing research problem and identifying its specific components.
The marketing research problem guides the entire research process. It is important in determining the working hypothesis. With the hypothesis and the research problem, you are able to outline what is to be achieved after the research which is commonly referred to as the objectives in the research world.
A research approach is an important part of the marketing research plan that helps to find relevant data and information and helps to convert information and data into numeric form so that it is easy to develop the marketing plan (Jackson ). One marketing research problem relates to how the survey is offered to the target population. Marketers design a survey that many customers choose not to respond to. They look at reasons why.
2 Marketing Research Problem Broad Statement Specific Components Defining Research Problem (cont’d) Now what? Step 1: Problem Definition Management Decision Problem. The five-page document provides space for recording the decision problem, the exploratory research summary, hypotheses, and potential research problems.