Understanding Marketing Research Process

What is Marketing Research? Marketing research is defined as the process of designing,

gathering, analyzing, and reporting information that may be used to solve a specific

marketing problem What are the five steps in the research process? 1)Define the Problem,

objectives, and research needs. 2) Design the Research 3) Data Collection Process

4) Analyze the data and develop insights 5) Prepare and present the final research report

Exploratory research/situational analysis? Exploratory research and situational analysis are early-stage

research methods used to gain an initial understanding of an unknown problem, identify key factors,

generate ideas, and form hypotheses.