Chapter 1 · Introduction · Slide 9/274
Market Research Process — the "5 D's"
Process Model
1.1 · Market Research and Survey
Process Model
Market Research Process — the "5 D's"
D1Definition Phase
- Identify information needs
- Define the research problem and questions
- Set research objectives
- Assess the value of information
D2Design Phase
- Budget
- Data sources
- Research methods
- Sampling plan
- Contact methods
- Methods of data analysis
D3Data Collection Phase
- Collect data according to the plan
- or commission an external service provider
D4Data Analysis Phase
- Analyze data statistically and subjectively
- Derive answers and implications
D5Data Interpretation Phase
- Formulate the results of the data analysis
- Prepare the research report
Results have no practical value if the research problem is only vaguely defined.
The plan must be set in advance, yet flexible — so that necessary adjustments can be built in.
This phase is very costly and very error-prone.
The choice of data analysis method depends essentially on the type of research.
Present actionable key findings rather than overwhelming statistical methods.
QUESTIONSTAR · Dr. Paul Marx
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