🔍 Market Research Fundamentals
The Research Process & Types of Goals
The five-step process, and the three goals research can pursue.
~6 min read
Market research process
- Problem definition → research objectives
- Preparation of a research plan
- Data collection
- Data analysis
- Sharing findings
Types of goals
- Informative research — obtain preliminary information that helps better define the problem and propose hypotheses
- Descriptive research — better describe marketing problems, market situation, customer wants and characteristics, position of competing products
- Causal research — test hypotheses about cause/effect relationships
Forms of research
- Systemic perspective — descriptive (how), diagnostic (why), prognostic (where), conceptual
- Time aspect — exploration vs. validation
- Methods of obtaining information — secondary vs. primary research
What affects research quality
- Techniques and technologies used
- Qualifications of those involved
- Financial resources / time