PROCEDURE FOR MAKING A MARKET RESEARCH
Given the variety of information needed by traders, market researchers have developed a procedure for carrying such an investigation based on the scientific method. Note that the 4 main steps of this procedure has a special interest in the results are easily understood by users of research, often the directors of the company.
FOUR STEPS IN THE PROCEDURE OF MARKET RESEARCH
STEP 1: PRELIMINARY INVESTIGATION
A. Define research objectives
B. To analyze the situation
C. Make an informal inquiry
D. Define the problem and formulate a hypothesis
E. Prepare a final research plan
STEP 2: PLANNING AND EXECUTION OF THE FINAL DRAFT OF RESEARCH
A. Determine the secondary sources of information
B. Choose the method of obtaining primary data
C. Prepare printed forms for data collection
D. Test printed questionnaires or forms
E. Planning shows
F. Train interviewers
G. Collect data
STEP 3: PREPARATION AND PRESENTATION OF THE RESEARCH PROJECT
A. Edit, code and tabulate the data
B. Analyze and interpret data
C. Prepare a report and present project results
STEP 4: carry out the project
With this procedure, the market researcher tries to answer the following questions: When?, how?, where?, why? and to whom?. The main thing left now is settled that although the procedure is similar in many respects, which employs the scientist, engineer, or even market researcher for an experiment, there are differences to consider. In MARKETING , some decisions are made almost no previous research but since business decisions are becoming more complex, the care taken to make them is vital to the success or failure of a business.
The student in the field of business has to prepare now to implement the appropriate technical decisions when it starts in the race MARKETING. Should not be impressed by the research technique, but to hear and know how to apply correctly. Market research plays a major role in the decisions of the executives of tomorrow.
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