Marketing Research: Functions and Compilation Steps

      Comments Off on Marketing Research: Functions and Compilation Steps

Marketing Research: Functions and Compilation Steps

Marketing Research Functions and Compilation Steps

Marketing research is a research activity in the marketing field. Marketing research must be carried out systematically, starting from problem formulation, goal formulation, data collection, data processing, and interpretation of the obtained marketing research results. Market research is carried out as an effort to provide input to management. With marketing research, management will know what needs to be improved and what marketing strategies are still appropriate to seize opportunities.

1. What is Marketing Research?

Marketing research is a form of activity in the form of problem formulation, data collection, analysis, and reporting that is systematically compiled as a guide in determining marketing strategies.

According to the American Marketing Association, marketing research is a function that can connect consumers and the public with marketers through the presence of information in identifying marketing opportunities and problems. From here, improvements will be made to the evaluation of marketing efforts so that marketing performance can be monitored and any problems that arise can be resolved.

2. Recognize the types

There are two types of marketing research, namely, primary research and secondary research. Primary research is research whose data comes from direct respondents or research objects. examples of primary research: research on the number of people who like smartphone A, research on consumer purchasing power.

Meanwhile, secondary research is research when the data has been processed and is ongoing. This research aims to evaluate and also control ongoing marketing activities. examples of secondary research: the number of people who buy goods, the number of people who visit your website.

3. Research Object

Whatever the research, it must have an object of research. A research subject depends on the object to be studied. Every research has different research objects. Meanwhile, in marketing research, the research objects are:

  • Price, this object is useful for measuring the purchasing power of consumers, what is the price that can be the opportunity for goods/services to be purchased and used.
  • Products, product research objects can include, product use, product value, product appearance, and also the level of product use.
  • Marketing Tools, this topic is used to see how effective the tools used in marketing are.
  • distribution, this object is also used to see the effectiveness of the product distribution flow to consumers.
  • consumers, the object of research that is no less important is the consumer. it is used to analyze consumer behavior and needs.

4. Marketing Research Function

Marketing research is an important step that companies must take to help formulate marketing planning. Marketing programs in the new year are usually influenced by the results of marketing research conducted by companies at the end of the year. Research can be said to be the eyes and ears of a company to find out how consumers perceive and desire the company. Market research has three main functions, namely:

See also  Want to Make Money from the Internet? This is the Way

a. Evaluating

The first function is evaluating. Research carried out for this function is usually used to evaluate marketing programs that have been carried out previously. The evaluating function in marketing research also includes when a company wants to review its brand positioning compared to competitors’ products.

In the evaluation process, a marketing researcher also solves the problem of the review results. Problem-solving can also be done by understanding the problem spots that keep the business from running properly.

b. Understanding

The second function is understanding. This research function emphasizes the goal of understanding consumers as a very important insight or input for the company. By understanding consumers, companies will know what consumer needs and complaints are. In carrying out this function, marketing research is usually carried out which describes a portrait of consumer habits and behavior as well as their expectations and complaints about the product.

c. Predicting

The third function is predicting. This last marketing research function is the most difficult function to do. The world is full of uncertainty, so predictions made in marketing research are very risky because they are so relative. When a brand wants to target a new market, marketing research is always used as the main reference. Likewise, when a company wants to develop a new marketing strategy, marketing research is still the main assessment.

d. Controlling

The next function is controlling. This function is used to view every business process that is running. Usually, this research function looks at data on ongoing marketing activities. This data can include the position of our products in front of consumers, demographics, trends, and also the effectiveness of the marketing tools used.

5. Research Methods

Before starting the steps in conducting marketing research, you need to understand the methods used.

1. Questionnaire

This method uses a form that contains a list of required questions. The form will be distributed to the research sample depending on the research subject used. For example, if you want to research the contemporary beverage business, you can choose respondents from the 15-25-year-old community who live in Jakarta.

2. Group Research

Group research is carried out with group discussions that have the same motivation for something. You can ask them their needs, do product tests to them, and also provide opinion-related questions related to your business.

3. Survey

If the questionnaire is conducted with certain respondents, the survey is more random. this method is used. This method is used to get an overview of your business

4. Observation

This method is more descriptive. Where you observe directly the market situation both observing trends through social media and news outlets. You can go directly to the market and also observe an event by analyzing cause and effect.

6. Basic Steps of Conducting Marketing Research

The systematic steps that must be taken in carrying out market research include the following.

See also  5 Online Business Facts You Need to Know

1. Formulating Problems

The first thing you need to do to carry out market research is to define a problem. The process of formulating this problem is very important to do so that we fully understand the objectives to be achieved after the research is complete. Research is structured to produce accurate and clear information as a conclusion to the problems we are facing in business.

For example, our problem is wanting to determine the amount of costs that will be used for promotion or advertising. The formulation of the problem is how to find out the amount of costs required. While the conclusions to be obtained are in the form of a range of values ​​from the most ideal promotional costs.

2. Determine Research Design

The research design is needed to determine detailed procedures regarding how to collect data, how to test hypotheses, and the possibility of conducting a questionnaire with various specified models. Determination of research design is usually based on the parameters to be taken to produce a certain conclusion.

3. Designing Data Collection Methods

The data used in this research are primary data and secondary data. Primary data is data taken directly from the field, while secondary data is usually data taken from books, the Internet, and other relevant libraries. You need to determine how to collect this data and compile it into a database.

4. Taking Samples & Collecting Data

Then you take samples and collect data in the field. You can take samples based on the sampling method used, be it probability or non-probability sampling.

5. Perform Data Analysis & Interpretation

A data collection can never be a conclusion if data analysis and interpretation are not carried out. You can start from editing, coding, tabulation, statistical analysis, and data interpretation. This processed data will provide clues to the conclusions you will take.

6. Compiling Research Reports

Market research reports can be in the form of reports on the results, conclusions, and recommendations of research provided to management. Then the management will make decisions based on the results of the interpretation of the previous data. This research report will become the research standard by executives in evaluating the benefits of marketing research.

These are the six basic steps you can use to do good marketing research. For your business to grow, don’t forget to advertise through the Froggy Ads service, you can start by advertising your products so that later you can increase visitors on your online business portal. Froggy Ads is an online advertising service that can help you control all your product campaigns. helps you target your desired marketing target and provides you with multiple options for marketing your product.