This article will briefly review the elements that must be taken into account for the development of a good market research design.
In any design of a market research project, it is necessary to specify various elements such as the sources to be used, the methodology, the objectives or the resources to carry out a good research study.
Typical design activities:
Usually, the following activities should be followed:
- Obtaining a manageable definition of the problem. It is assumed that the problem has been previously defined at the beginning; Recognition of the problem leads to a request for market research. Specification of the information needed to make the decision and what this implies. Research must be appropriate to the needs of the decision maker. This may require considerable interaction between the researcher and the manager. Finding the available data sources and determining their quality, cost, and accessibility. Choosing the methodology and data sources. The technique and the data go hand in hand, so they must be selected together. This work will indicate the amount of the value of choosing certain information, whose optimal selection is only rarely immediate,reason why the time, the fiscal limitations, as well as the non-economic ones imposed by the company must be taken into account. Selection of resources. Human and material resources should be chosen, confirming their availability and estimating their costs. Preparation of a formal action plan with its budget and obtaining the approval of the management. A formal action plan involves setting out what is to be done (or attempted), how it will be done, when, who will do it, how much it will cost etc.A formal action plan involves setting out what is to be done (or attempted), how it will be done, when, who will do it, how much it will cost etc.A formal action plan involves setting out what is to be done (or attempted), how it will be done, when, who will do it, how much it will cost etc.
Even when the researcher has the necessary authority to undertake the project, he must always have the support of the management.
CONFORMATION LISTS:
A conformation list is simply a document that reflects some considerations made by those responsible for the projects, in order to observe whether or not the research proposed will be useful given the objectives of the company.
These types of lists are usually useful in the design and control of market research projects. Its preparation and use are simple and its form varies from the simplest to the most complete.
For the creation of conformation lists it would be important to ask yourself:
- What exactly is needed in terms of information? Is the market research group right for the job? To what extent do the other functional areas of the company come into play, both inside and outside the market? What coordination mechanisms are necessary? Are the allocated time and budget reasonable? Will conclusive results of the research be achieved?
About the research design it is important to ask:
- Are the specified sources appropriate for the research? Are the instruments indicated for market research reasonable: questionnaires, natural observation, projection devices, motivational research. Does market research provide a proper balance to your research plan between the various sources of information and research techniques? If surveys are proposed: What will be the ideal sample size? Are external consultations and field work required? Should there be competing offers? Is it the methodology? from research understandable to clear ?. Will the information provided be clear to those who will ultimately have to make research decisions?
Generally, as the above concerns are answered, little by little, research is better understood, the market outlook and success can be more easily achieved.
It is a big mistake to design research without constantly rethinking and analyzing the work that is done to obtain certain data, true to reality and useful to those who must make important decisions.
