When to do Marketing Research

In the business world you may be faced with internal or external requests for marketing research or you might discover marketing dollars that are earmarked for it. What should you do? Conduct the research just because someone requests it or because the money is in your budget or do you methodically evaluate each situation? Instead of spending unnecessary resources, a skilled marketer bases his decision on the following guidelines. These guidelines will lead to sound research decisions that will ultimately lead to success.

Identification of specific research goals
MRK will accurately identify a client's specific research goals by meeting with clients to discuss their needs in detail. The primary objective of the initial meeting is to determine if marketing research is the right solution for the client. If MRK determines that a client is in need of its services the research team will proceed with creating a marketing research plan that will provide them with information that can be used to make sound business decisions.

Selection of the appropriate research methodology
The selection of an appropriate research methodology is crucial to the success of any project. Research methodologies are either: qualitative or quantitative.

Qualitative Research generally consists of focus groups or in-depth interviews. This type of research is used when a client would like to clarify or define the nature of problem. The participants are prescreened to determine eligibility and are usually offered an incentive for their time and opinions. A focus group is basically a two-hour session with eight to ten participants discussing a topic in detail. The sessions are generally audio- and video taped. A discussion leader or moderator encourages the participants to speak freely and at length about the topic. Clients are encouraged to attend and watch the session through a one-way mirror.

Qualitative research diagnoses a situation, screens alternatives and possibly discovers some new ideas. It can be used alone as a decision making tool or as a preliminary step in conducting a full-scale research project depending on the scope of the situation.

Quantitative Research gathers information from a representative sample of people. In other words, the results of a quantitative study represent the opinions of the entire targeted population. Typical methods of quantitative research are mall intercepts, telephone interviews, mail and face-to-face interviews. The interviews are conducted individually with each participant by a professional interviewer. This type of research is used to measure product awareness, customer satisfaction, usage behavior, and opinions. Focus groups are often conducted prior to quantitative research to ensure that the research addresses all of the issues that are relevant to the participants.

Development and design of a survey instrument
The survey instrument can be in the form of a focus group discussion guide or an interview in a quantitative study. The development of the survey instrument is a team project. MRK relies heavily on its clients to provide as much information as possible so it can create the most effective survey instrument. Typically, the instrument is based on initial meetings with the client, client supplied materials, and exploratory research conducted by MRK's design group. Exploratory research is an informal process of scanning the client's internal and external environment to uncover additional factors that may affect the development or outcome of the research project.

Determination of an appropriate survey pool or sample of respondents based on the targeted population
In a quantitative research study, we commonly refer to a "sample" of respondents. Depending on the total population of a targeted group, a certain number of people must be interviewed to accurately represent the views of the entire population. MRK will determine the appropriate number of respondents that must be interviewed so that the data is statistically valid and is the most feasible economically.

Data Collection
Data collection is also a term used in quantitative research. This refers to the process of interviewing respondents on the telephone, in the mall or in some other face to face situation. Data collection is one of the most important parts of the research process. Without consistent and reliable data collection the results of a study are worthless. MRK's interviewing staff is comprised of experienced, trained interviews that are rewarded for the quality of their completed surveys instead of the quantity. A data collection manager oversees the entire process to address questions or problems as they arise. Therefore, the data collected by MRK is valid and can be used with confidence in making future business decisions.

Data Analysis/Reporting
At the conclusion of a focus group or data collection, MRK's senior research team analyzes the information and prepares a written report of the findings. A final report contains an executive summary, detailed findings, graphs, charts, and data tables, when appropriate. It also contains conclusions and recommendations based on the findings. An appendix may include the survey instruments and other related materials.

Presentation of results
A formal presentation is provided at the conclusion of the research. A PowerPoint file is given to clients to facilitate sharing the results throughout their organization.