Master the Principles of Effective Market Research

Principles and Phases of Good Marketing Research

• Marketing research should be systematic, well-organized, and planned according to objectives.
• It should be free of personal biases, and self-vigilance and reflection are important.
• Marketing research should provide accurate and reliable information that reflects reality.
• The findings and insights from marketing research should be used for decision-making by companies and businesses.
• Marketing research can be used for problem/opportunity identification in the market or for problem solving.
• The phases of marketing research include identification of information needed, collection of data, analysis of data, dissemination of information, and use of information.
• Marketing research can help turn problems into opportunities.
• Relevant information sources and data collection methods should be identified for effective marketing research.
• The most appropriate methods should be used for collecting high-quality data.
• Marketing research should result in high-quality reports that can guide company decision-making and marketing actions.
• The marketing research process may involve analyzing secondary and syndicated data, as well as conducting qualitative research.
• Marketing research should be focused on providing insights and solutions to marketing problems.