Marketing research problem
A successful marketing research always utilizes scientific methods and focuses on the problem. The first step in a marketing research is to articulate the problem the research will address.
Articulating the problem
This sounds easy enough, but the success of the marketing research depends on how well the problem is defined. The objective of marketing research is to determine customers’ preferences and buying behavior to establish whether a product can be profitably marketed, or how to increase sales of an existing product. The marketing research problem must be well defined before moving on to the next step of the marketing research. A business may have launched a new product but find that the product is not selling well. So, the problem seems to be that the product is not selling, but that is not well enough defined to be the basis of a successful marketing research. The problem must be better defined to be a proper starting point of a successful marketing research program.
Defining the problem
To translate the problem a business has with sales of a product into a marketing research problem, starting with a management problem of why a product isn´t selling well enough is where the process should start. Only when a marketing research problem has been clearly defined can the rest of the research be designed and conducted. A product’s poor selling performance can depend on many things, but let’s narrow it down to two factors:
- The quality of the product isn´t as good as the quality of the competitors’ products
- Potential customers have low expectations of the product and therefore no desire to buy it
If the business is convinced of the good quality of their product, the marketing research can focus on the problem of the potential customer’s low expectations regarding the product, and what can be done about it.
How can Nepa help out?
Traditional Market Research has a poor record of making any real change and deliver true insight. Nepa validate research data with behavioral data, pushing market research to the limit of what value it can deliver. Through our modular ActionHub® software platform, we are able to distribute the right data, in the right format, to the right stakeholder, at the right time, enabling decentralized and customer-centric decision-making.
The scientific method
After the problem has been defined, it’s time to develop a hypothesis about why potential buyers have low expectations and low desire to buy the product. The hypothesis can be, for instance, that buyers think the design of the product make it look cheap and unreliable.
When using scientific method, the researcher makes predictions based on the hypothesis and then designs the research to test the hypothesis against the data that has been collected. Predictions based on the hypothesis can be, for example, that by changing the design more people will buy the product.
Data can be collected through interviews, surveys, observations and many other techniques. When the data has been collected and the hypothesis has been put through the test, it’s time to analyze the result.