Module 2: Steps in designing a market research project
Learning Objectives
In module 2, students will learn how to:
- Define the five steps to effectively design and implement a market research project.
- Identify the significance and importance of accurately identifying a market research decision problem.
- Utilize considerations in research design such as data collection methods, timing, budget, and target population.
- Combine insights from various data collection methods in market research, including surveys, interviews, and focus groups.
- Recognize the significance of accurate and rigorous data analysis in ensuring reliable research outcomes.
- Assess the impact of data-supported recommendations on influencing strategic decisions in a real-world context.
A recommended set of five steps should be followed in order to accomplish the goals of gathering insights and finding solutions through market research. While following a set of steps may seem like a lot of work or take too long to solve problems, the time invested in going through the steps will ultimately pay off in the form of research-driven solutions. This module outlines the five steps to designing a market research project; however, individual steps will be covered in greater detail throughout the book.
