Stages in the Marketing Research process - II

In the previous post (Stages in the Marketing Research process - I), the first four steps in the marketing research process was explained.

In this article a basic idea of what happens in the last four stages of marketing research is being presented.

Collect the data:

After defining the sample, it is required that the appropriate data be collected from this sample. This involves identifying the right type of questions and the right medium to serve the questionnaire and collect the feedback/data. Based on the type of research being undertaken – appropriate questions should be identified. The mediums to serve the questions and collect the data may also depend on the type of research. But sometimes these preconceived and accepted modes may be altered based on the demands and objectives of the person/group/organization running/funding the research.

The data collection process can be secondary, primary, or both secondary and primary. The tools used to capture this data can be classified as:

1.       Observation methods

2.       Communication methods

Analyze the data:

After collecting the data it needs to be converted into a format which can be easily analyzed to get the solution for the defined problem and objectives. Data processing involves editing of data and coding it. Editing the data involves checking the collected data for omission(s), contradiction(s) and consistency.

Coding is process by which helps in manual or computer based tabulation, and coding defines the rules for categorizing  recording and transferring the data to data storage media.

Analysis involves breaking this data in an appropriate way and running relevant tests using the correct use of logic (based on the research needs) keeping in view the research design and nature of the data collected. Based on the complexity of the analysis, the analysis may be simple uni-variate analysis or complex multivariate analysis.

Generate Conclusion(s):

 In this state, the researches based on the data analysis, come out with conclusion(s), which can be used to shape/make the decision(s). It is very important to showcase the reasoning and the facts behind the conclusions being developed, because erroneous conclusions based on incomplete/wrong analysis may lead to decisions which might prove very costly to the person/group/organization.

Prepare and Present the Data/Report

The research report should:

1.       Clearly and accurately mention the concrete findings

2.       be technically accurate

3.       understandable

4.       useful (for taking managerial decisions)

An effective report should include the following details (you may use another appropriate report structure if needed):

1.       Title Page

2.       Table of contents

3.       Introduction

4.       Objectives

5.       Methodology

                     i.            Research design

                   ii.            Data collection methodology

                  iii.            Sampling

                 iv.            Data collection (primary and secondary)

                   v.            Analysis

                 vi.            Interpretation

6.       Limitations

7.       Findings

8.       Conclusions and recommendations

9.       Appendix

                     i.            Questionnaire

                   ii.            Tables and data not included in report

                  iii.            Bibliography