Market Research Process 5 Steps

1 Whether it’s my target audience?

2 How should I do the packaging of the product?

3 What should be the colour?

4 How should I test it?

So there are crore problems like this of these are often solved through market research we’ll mention this today so we’ll divide this research process into 5 steps

The first problem is to spot what we’ve to do?

Let’s say we are confused with our product how should we make the taste of the product: sweet, salty, or anything? So what we do is obvious our idea this was the primary step

Now you’ve got made a thought. Now the way to do it?

How to make the research plan? With this comes the second thing: research plan…

I am enjoying it till the time you do not ask your audience or research on a sample set, how are you able to say that your product is good? Or my chocolaty flavour is best? I shouldn’t work on orange in the least … So this is often a search plan so you’ll do surveys here you create sample questions, make your audience taste and asks them which one you wish … you’re taking a sample set… for instance, you’ve got asked 500 people so these

500 people are referred to as a sample set So you’ve got taken your sample set as 500 So you’ll get a basic idea like out of 500,400 are saying chocolate is best So I should choose a chocolaty… so there must be some idea on research

It’s not that we take a sample set of 6, out of which 2 say this, 3 this… 3 is best so we take that… So take an outsized sample set…here some people are lazy who search old researches on the web like all documented research done on this before?

So they see all that happened and work acc thereto I will be able to advise them… guys your product is different… if you’re doing it an equivalent. Then why will someone take your product?

So if your product is different then you can’t take an old set

So exerting and do some research then only your product is going to be well developed

 Now comes 3rd step where you’re collecting data… there forms that you simply are becoming it filled is that the third step

Now 4th step is that the form that has been filled, the info being collected… take that into an excel sheet you’ll take it within the paper but if you’re taking it on an excel sheet then you’ll execute it properly by applying the formula

So you took that data and you check what percentage per cent of the audience liked which flavour?

So you create a little graph… you get a basic idea just like the majority of individuals are saying my flavour should be this.

With this comes the 5th point: you made this thing final like I even have to figure on chocolate or XYZ flavour

Now comes the ultimate point i.e. executing your plan you’ve got done the research but until you’re employed thereon … there’s no benefit Some people are there who research but don’t execute They know that they ought to make chocolate but orange is reasonable so that they make orange flavour. They know that the market need is chocolate but orange is reasonable so that they will make orange So I will be able to advise you to try to do proper research and work on your findings and take a proper decision it isn’t that through with research and roll in the hay later…

let it happen because it goes If you would like to grow then you’ve got to continuously do research Your product is developed today… again do research and do improvisations you’ll see that big brands improve their product during a regular interval so that they do Research and Development… at many places, feedback forms are get filled…if you’re liking it… there’s some deficiency or no? so that thing goes to Research and Development team, the research then they work thereon so this will be done by your company too…

It’s very easy acc to me and a few marketing students must be watching that we’ve to write down this within the paper you’ll score more if you give this instance maybe so this text ends here, hope you understood If you’ve got any problem then inquire from me within the comments

If you’ve got some product and you’re thinking how do you have to choose research…then a direct message on Instagram Id-(Macro business. in) maybe I am often of some help.