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Market Research Process

1. What is the most important step of the research process? Why is this particular research concept important? How could you apply this to benefit your company?

2. What are the pros and cons of each the three basic research methods? What is the difference between primary and secondary research? When would you use primary research? When would you use secondary research?

3. What type of research is a focus group and what is the objective of having one? What are the primary advantages and disadvantages of using "live" and "online" focus groups? Would your company benefit from the use of focus groups?

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1. What is the most important step of the research process? Why is this particular research concept important? How could you apply this to benefit your company?

The most important step of the research process is to start the research process. "The marketing research process includes the systematic identification, collection, analysis and distribution of information for the purpose of knowledge development and decision making. The reasons and times at which your company or organization might consider performing marketing research varies, but the general purpose of gaining intelligence for decision making remains constant throughout." (Polaris 2009)

Reference Link - http://www.polarismr.com/edctr_overview.html

Once the process has started the next step is to decide which form of research is best. Will qualitative data be sufficient or will quantitative data also be needed to assist? Depending on the budget set aside for the project will assist in this decision making process. Will focus groups play a significant role in this research or will reviewing the hard data be the best option? This is the stage where this will be decided and this will allow the business to make the best decision within the budget ramifications to produce and ...

Solution Summary

1. What is the most important step of the research process? Why is this particular research concept important? How could you apply this to benefit your company?

2. What are the pros and cons of each the three basic research methods? What is the difference between primary and secondary research? When would you use primary research? When would you use secondary research?

3. What type of research is a focus group and what is the objective of having one? What are the primary advantages and disadvantages of using "live" and "online" focus groups? Would your company benefit from the use of focus groups

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