3:53PM & © on ieee € Select Text WM M a) CTRL MC Objectives This is the first and one of the most important steps in the marketing research process. Here, the researcher identifies what exactly needs to be studied. The problem should be written clearly, either as a statement or ina logical form, so that the whole research is focused and meaningful. Example: A mobile phone company wants to find out why their latest model is not selling as expected. The research objective might be: “To determine customer preferences and identify the factors affecting low sales.” There can be three types of research objectives: OCT Ela ae 1e aeRbd Ce]. ME- LA) issue or understand the situation. Descriptive research: To describe fear cameoil lemme celta3:53PM & © on ree € Select Text 2. Develop the Research Plan Once the objective is clear, a detailed plan is developed. This step involves deciding: What kind of data is needed. What sources will provide that data. How the data will be collected. aoa Le Primary data: Fresh data collected directly for the current research through surveys, interviews, focus groups, etc. Secondary data: Previously collected data, such as government reports, eLetter Lkel reports, etc. Example: To study customer satisfaction, a3:53PM & © Renae ee) Rees Ce Le-e Tele MeLe) uae ego company sales records, market research ir tool a CR -1Cen 1 CTH MOSS eel Eolas t(e) company may distribute a new survey (primary data) and also check previous customer reviews or feedback (secondary data). 3. Research Approaches MU eM al eTaee RL Le marketers can use to collect the data: (i) Observational Research In this method, researchers observe customer behavior in real settings without interacting with them. Example: Watching how customers shop Ta MTT SN Cel tom (ii) Focus Group Research A small group of people (usually 6-10) is3:53PM & © on i ee € Select Text in a retail store. (ii) Focus Group Research A small group of people (usually 6-10) is invited to discuss a product, service, or idea in detail. A moderator guides the discussion. Example: A group of people is asked to share their opinion on a new Te N atten (iii) Survey Research BUM mies e reo mnaCatler as involves asking people a series of questions using questionnaires (online or offline). 1 ><-Tan)e) Me MAL LSTA A) AES ATL} Cosa Col naTeM MMSE LSC e MUN Tk) the service. VOB eel re This approach is used to study cause-and-effect relationships. One or more variables are changed, and the results are observed. Example: Changing the packaging of a product in one city and checking if sales increase compared to another city.RSS 1. Open-Ended Questionnaire: These questions allow respondents to answer in their own words, providing detailed and descriptive responses. They are used to gather qualitative data, capturing insights, opinions, and emotions. Example: "What features do you look for in a smartphone, and why?” Advantages: Provides rich and detailed CT lM alone are) LMU Vela captures respondents’ true opinions. Disadvantages: Responses can be time-consuming to analyze and may vary in quality and relevance. 2. Close-Ended Questionnaire: These questions provide predefined G O =)AAs royal ad Ue eS) D9 2. Close-Ended Questionnaire: These questions provide predefined answer options, making it easier for respondents to select their responses. They are used to collect quantitative eT Url mers TTT re lela) compared. Example: “How often do you use your smartphone? (a) Daily (b) Weekly (c) oT COMA) a PUL ele Smell el a-Tie tt) a O-LS (1 simple to analyze, and provides standardized data. Disadvantages: Limits respondents' ability to express detailed opinions and may not capture all perspectives. TOSS eet eLa AR) ses (te me) Fy oe ee ee ee ee (oi oO me)eae ail leat € Select Text Market Kesearcn: Quantitative Measures: Focus on numerical data that can be measured and analyzed statistically. They provide objective insights into market trends and consumer behavior. [Cle Are customers prefer a specific brand, helping the company assess its market share. CTT at ee roel el) non-numerical data that explore consumer opinions, motivations, and perceptions. They provide deeper insights into customer experiences. TT) lems eel Re ele Lig they prefer a particular brand, revealing that customers value its eco-friendly packaging and customer service. Combined Examole: G oO a)€ Select Text Sampling Plan A sampling plan is designed to represent the population and can follow two main methods: Probability Sampling: Every individual in the population has an equal chance of being selected. Non-Probability Sampling: Selection is based on specific criteria or convenience, without equal chances for Ele A uc 1. Sampling Unit: Whom should we Ta ea The individuals, groups, or organizations selected from the population. Example: Surveying college students for feedback on a new energy drink. ic} (e) =)———— Radiat ocak ok Sms) a) VEU ol Ol MUTE ete) ROLL we survey? The number of respondents required to ensure reliable and valid results. Example: Surveying 500 students to capture diverse opinions. 3. Sampling Procedure: How should we choose the respondents? (Also referred to as the sampling design) The method used to select individuals from the population, which can be: Probability Sampling (e.g., Simple Random Sampling, Stratified Sampling) Non-Probability Sampling (e.g., Convenience Sampling, Judgmental Sampling) . . @So aba 3. Sampling Procedure: How should we choose the respondents? (Also referred to as the sampling design) The method used to select individuals from the population, which can be: Probability Sampling (e.g., Simple Random Sampling, Stratified Sampling) Non-Probability Sampling (e.g., Convenience Sampling, Judgmental Sampling) Example: Using random sampling to ensure every student has an equal chance of being selected or convenience sampling by selecting students available at the campus cafeteria.3:53PM & © nee) er €_ Select Text Contact Methods Once the sample is selected, the researcher must decide how to contact them. Methods include: (i) Mail Contact: Surveys are sent through post. It's low-cost but slow and has a low response rate. (ii) Telephone Contact: Researchers call people and ask questions. It's faster but limited to short An (iii) Personal Contact: Face-to-face interviews are conducted. It allows in-depth responses but is time-consuming and expensive. OMe m ects Using digital platforms like email, social media (Facebook, Instagram, YouTube, WhatsApp), or websites to reach a large number of people quickly and at low rolacanoe oncaeid CSc aK Dd8 fofoti MY LEWIN Ey After data collection, it is processed and analyzed using statistical tools or software. This step helps convert raw data into useful insights. Researchers look for patterns, relationships, and key findings. ely oH 60% of customers are happy with the product, but 30% feel the price is too high. This helps the company understand what actions to take. 5. Present and Implement the telat ky The research findings are presented to the company or decision-makers using charts, reports, or presentations. Based3:54PM & © ot nee € Select Text understand what actions to take. oe CUM My) aL Findings The research findings are presented to the company or decision-makers using charts, reports, or presentations. Based on these findings, the company takes action. Example: If most people say they want more color options in a product, the company may introduce new colors. 6. Decision Making (Based on PETE Tce) The final step is to use the research Cc ET Lem COMMIT LCM COUT CeM ULE Clie] decisions. This could include launching a new product, changing pricing3:54PM & © on es € Select Text If most people say they want more color options in a product, the company may introduce new colors. CMT MEL mete Rol Research) The final step is to use the research results to make informed marketing decisions. This could include launching a new product, changing pricing strategies, improving quality, etc. Puyo If the research shows that customers prefer online shopping, the company may invest more in e-commerce platforms. Let me know if you want this converted into a printable PDF or handwritten-style format for easy writing!