Be made at the strategic and tactical operational levels, and these decisions should be supported by decision-related information. For this reason, market research is also classified by many authors as a separate subfield within the marketing planning and decision-making process. The purpose is, through continuous data collection and analysis, to provide the necessary information for strategic and or operational measures or decisions. Market research deals with all external markets, customers, competitors and internal resources, technical requirements information issues that must be addressed in order to shape a companys market relationships. On the other hand, the comprehensive and complex scope of tasks of market research itself becomes clear.
In order to meet these requirements, it is absolutely necessary to take a systematic approach to obtaining information and assessing what is needed. Market research process Market research is a systematic process. The term market research has been established due to the naming of the various process stages. The German whatsapp mobile number list Marketing Institute always follows this proven research design when carrying out its market research projects. The market research process is divided into five main phases, and the various steps of a market research project are dealt with sequentially and systematically. Definition of Market Research Questions The starting point for a market research project is to determine what data is needed.
Therefore, the define phase is about formulating market research questions as accurately as possible. From this, the most actionable research question possible is then derived. In principle, the impetus for research or investigation can come from very different sources. A specific marketing question often represents a decisive initiative for a market research project, and the opening of new markets, the development of new products or increased competitive pressure also give rise to a corresponding need for information, which can be covered by research. The research question determines the direction and exact content of the upcoming market research project. It is also necessary.