MARKET RESEARCH

Century Global Services 5 Step Marketing Research Process

With constant change being the norm in marketing and business, one thing remains the same: the need for marketing research. Marketing research helps organizations identify opportunities and evaluate business decisions using data. In short, the marketing research process is the backbone of informed business decisions.

1. Define the Problem or Opportunity

The most important part of the marketing research process is defining the problem. In order to do any research and collect data have to know what client is trying to learn from the research. In marketing research, defining the problem we need to solve will determine what information need and how Client can get that information. This will help organization clarify the overarching problem or opportunity, such as how to best address the loss of market share or how to launch a new product to a specific demographic.

2. Develop Century Global Services Research Plan

After examined all potential causes of the problem and have used those questions to boil down exactly what Client trying to solve, it’s time to build the research plan. research plan can be overwhelming to create because it can include any method that will help answer the research problem or explore an opportunity identified in step one.

To help develop the research plan, let’s review a few techniques for conducting research: Interview prospects and customers. Oftentimes, get the best feedback by using this tactic because going straight to the source. This might take the form of a focus group or one-on-one interviews. Use defined research problem to help select the right people to interview. Run user tests on website or landing page. This is a cost-effective study that can provide a lot of insight and data into how CenturyConsultant customers or potential customers behave or respond to something, whether it’s new messaging or branding or a modified product or service are thinking about offering

3. Collect Relevant Data and Information

In marketing research, most of the data collect will be quantitative (numbers or data) versus qualitative, which is descriptive and observational. Ideally, will gather a mix of the two types of data.

4. Analyze Data and Report Findings

Now that gathered all of the information need, it’s time for the fun part—analyzing the data. While one piece of information or data might jump out at, it’s important to look for trends as opposed to specific pieces of information. As analyzing CenturyConsultant data, don’t try to find patterns based on assumptions prior to collecting the data.

5. Take Action

CenturyConsultant research is complete. It’s time to present findings and take action. Start developing marketing campaigns. Put findings to the test and get going! The biggest takeaway here is that, although this round of research is complete, it’s not over.

The problem, business environment, and trends are constantly changing, which means that research is never over. The trends discovered through research are evolving. should be analyzing data on a regular basis to see where can improve. When look at it that way, CenturyConsultant start to wonder why so many organizations don’t budget time and resources for marketing research.