Business activities cannot be separated from research and research. The research was conducted with the aim of obtaining decisions in a business. The decision to determine the number of goods to be produced, the formulation of a strategy to enter the market, a strategy to increase sales and so on. This is very important to do to support the improvement of your business. Market research activities are carried out by conducting systematic research activities starting from problem formulation, research objectives, data collection and processing and interpretation of research results. The following are the steps for conducting marketing research:
Formulating the Problem
The first thing to do in conducting marketing research is to formulate a problem. The process of formulating this problem is very important to do so that we fully understand the objectives to be achieved after the research is completed.
Determining Research Design
The research design is needed to determine detailed procedures for collecting data, how to test hypotheses and the possibility of conducting questionnaires with various specified models. Determination of research design is usually based on the parameters that will be taken to produce a certain conclusion.
Designing Data Collection Methods
Primary data is data taken directly from the field, while secondary data is usually data taken from books, internet, and other relevant libraries. You need to determine how to collect these data and compiled into a database.
Taking Sampling And Conducting Data Collection
Next you take samples and collect data in the field. You can take samples based on the sampling method used, be it probability or non-probability sampling. You should know about the correct sampling method.
Performing Data Analysis and Interpretation
A data collection can never be a conclusion if there is no analysis and interpretation of the data. You can start from editing, coding, tabulation, statistical analysis and data interpretation. This processed data will provide clues to the conclusions you will draw.
Prepare Research Report
Marketing research reports can be in the form of reports of results, conclusions and research recommendations given to management. Then the management will make decisions based on the results of the interpretation of the previous data. This research report will become the research standard by executives in evaluating the benefits of marketing research.