Market Research Process:

Research Online Market
  • 1 IDENTIFY WHAT ARE THE BUSINESS PROBLEMS:

  • Check Out and make a list Of all the problems causing trouble to your business.

  • Collect all relevant information of the business.

  • Look into \'how\' that information affects taking decisions.

  • Get clues about barriers by discussing with the organization.

  • Note them down precisely.

  • Be efficient during the pan process.

  • 2 DEFINE RESEARCH OBJECTIVE:

  • State clearly what the ultimate goals are.

  • Express in quantitative and qualitative form

  • Speculate the prospective findings (e.g. for sales and purchase)

  • 3 PLAN ON THE FRAMEWORK FOR RESEARCH & THE WAY IT IS TO BE STUDIES:

  • What to collect ( find out type Of information)

  • From where to collect (determine the future customers)

  • How to collect (define methods, tools and techniques)

  • Why to collect (declare action plan)

  • 4 PLANNING THE SAMPLE:

  • Find out whom should be reached as target audience

  • Observe the size of the population

  • Discover the ways to find out the target audience.

  • 5 DATA COLLECTION:

  • Plan what method suits you the best

  • Type Of organization and its requisite information decide what is suitable method

  • Primary methods, like surveys, one-on-one interviews, for getting accurate data

  • Secondary methods, like articles, publications, for tracing pile of data

  • Internal sources, for tracking firm\'s internal data (like accounting details)

  • External sources, for fetching additional info outside the firm

  • 6 SLEEP ANALYSIS

  • Call adept analysts to edit, inspect the accuracy Of the data

  • Sort it out logically and meaningfully

  • Record to data storage media

  • Keep the data format simpler to understand

  • Annex summary with details

  • Analyze and mention in report

  • 7 FORMULATING CONCLUSION:

  • Interpret the gist Of the information

  • Draw conclusion appropriately

  • Report should be communicative, not typical and complicated

  • Keep the report to the point and in pointers

  • Suggest the prospective solutions

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