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Marketing Research-A Six Step Process

I need help with this question:

Briefly discuss the marketing research process. How can a firm leverage its marketing information system (MIS) to yield the greatest value for its research efforts? Your dissussion should cover the six steps of the marketing process which are:

1. Define the Research Problem
2. Establish Research Design
3. Secondary Sources
4. Collect the Data
5. Analyze the Data
6. Report the Findings

Solution Preview

The Marketing Research Process

I will describe the marketing research process by giving a broad description of each step. You need to put more details under each step.
The steps given in your problem are not necessarily the only way of describing the research process, different resources give different steps but they all cover the same process of conducting a research project. I will try to stick to the format given by you.

1. Define the Research Problem:
Marketing research process begins with a clear definition of the research problem, that is, what exactly needs to be studied and what is the purpose of the research. What decisions we would like to make based on the findings of the research project. This first step is quite critical for the success of the whole project as it puts everything on the right track from the beginning. Particularly when an external party is conducting research for you, there must be an agreement between the marketing team and the research team as to what exactly is the issue at hand. In order to arrive at the real problem, an exploratory study or some qualitative research may be required.

2. Establish Research Design:
This is probably the most important step where we decide exactly how the research will be conducted. You need to decide the ...

Solution Summary

Effective marketing research studies can be conducted by following a six step process as described below:

1. Define the Research Problem
2. Establish Research Design
3. Secondary Sources
4. Collect the Data
5. Analyze the Data
6. Report the Findings

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