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A great way to present the data is to start with the research objectives and business problem that were identified in step 1.Restate those business questions, and then present your recommendations based on the data, to address those issues.
In this step you will first determine your market research method (will it be a survey, focus group, etc.? You will also think through specifics about how you will identify and choose your sample (who are we going after? Based on that, you’ll be able to identify the types of data analysis you’ll be conducting (simple summaries, advanced regression analysis, etc.), which dictates the structure of questions you’ll be asking.
Your choice of research instrument will be based on the nature of the data you are trying to collect.
There is typically a key business problem (or opportunity) that needs to be acted upon, but there is a lack of information to make that decision comfortably; the job of a market researcher is to inform that decision with solid data.
Examples of “business problems” might be “How should we price this new widget? ” By understanding the business problem clearly, you’ll be able to keep your research focused and effective.
Perhaps the most important step in the market research process is defining the goals of the project.
At the core of this is understanding the root question that needs to be informed by market research.
If it’s on scraps of paper, you’ll probably need to get it in spreadsheet form for further analysis.
If it’s already in spreadsheet form, it’s time to make sure you’ve got it structured properly. Run summaries with the tools provided in your software package (typically Excel, SPSS, Minitab, etc.), build tables and graphs, segment your results by groups that make sense (i.e.
– If your research objective calls for more detailed data on a specific topic, you’ll be conducting quantitative descriptive research.
The goal of this form of market research is to measure specific topics of interest, usually in a quantitative way.