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The Basic Steps of the Marketing Research Process

2. Develop Your Research Plan

❶Companies are also beginning to experiment with software that can be used to collect data using mobile phones.

Research Objective

Stage 2: Method of Inquiry
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Data Sources

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Step 1: Define the Problem (or Opportunity)

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The market research process is a systematic methodology for informing business decisions. There are six basic steps, starting with defining the problem and understanding your research objective.

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The marketing research process requires an outlined, methodical gathering of market data to aid in business and managerial decision making. Additionally, market research helps business owners and.

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Figure Steps in the Marketing Research Process. Step 1: Define the Problem (or Opportunity) There’s a saying in marketing research that a problem half defined is a problem half solved.

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