Question 4: Explain the steps involved in research process of marketing communication.
Determine whether the issue is a problem or an opportunity
: Determining the
problem is the most crucial step in the marketing research procedure. You must first
choose what you hope to learn from the research before you can do research and gather
data. When conducting marketing research, articulating the issue you're trying to resolve
will help you decide what data you'll need and how to get it. This will assist your business
in identifying the greater issue or opportunity, such as the best way to address market
share loss or introduce a new product to a certain market segment.
Create inquiries that will assist you in identifying your issue (or opportunity) and
analyzing all likely causes so that your research can be narrowed to the information you
need to address the issue or decide how to take advantage of the opportunity.
Create a marketing research plan
: To assist you in developing a research plan, let's
talk about a few research strategies:
o Consumers and prospects should be questioned. One or two-on-one interviews or a
focus group could be employed for this. You can select the most qualified interview
candidates by using the research challenge you've outlined as a guide.
o Create a survey using SurveyMonkey.
o You should perform user testing on your website or landing page (s). Use heat mapping
tools like Hotjar or Lucky Orange and website analytics tools like Google Analytics or
HubSpot analytics to track results. This is a low-cost method that can provide a wealth of
information and statistics about how your current or potential customers react to
something, whether it's fresh messaging or branding or a redesigned product or service
you're considering offering.
This is referred to as secondary data in marketing research since it has already been
acquired by someone else instead of primary data that you would collect through your
research study. Seeing what other businesses have done to address an issue or capitalise
on an opportunity can help you fine-tune your research study and save you time when
weighing all of your research options.
Collect data and information relevant
: In marketing research, quantitative (statistics
or numbers) rather than qualitative data will predominate (descriptive and
observational). Ideally, you will gather data from both of these sources. For instance, you
might do an A/B test on your website to determine whether a new pricing tier will
enhance sales. As part of that research study, you might also conduct several consumer
interviews to see whether the new pricing tier is appealing to them. You will have both
quantitative and qualitative data in this case, which will help you comprehend the
situation better.
Analyse the data and provide your findings
: It's time to get down to business and
evaluate the data now that you've gathered all of the information you'll require. Review
the study's findings so you can explain the suggested course of action.
Put Your Research to action
: Describe your findings and put them into action. Start
preparing your marketing strategies and plans.
continuously reviewing your data to identify areas for development. If you are more
knowledgeable about your buyer profiles, industry, and organization, your marketing
efforts and business will be more successful.
