Submitted by

Mohammad Hasan Al Masud

Id: 2019210004062

Section: 3

MBA (1 Year)

Course Code:
MKT661.1
Course Title Marketing Research

Topic: Research to the Marketing Manager. With a hypothetical example,

explain the various steps of Marketing Research.

Submitted to,
Dr. Anisur Rahman
South East University, Dhaka
Executive Summary:
The Market Research Manager is responsible for selecting the appropriate research
methodology and supporting techniques to meet a defined business objective. A
document that summarises all the sections of a market research report. It includes the
basis for why the research was performed, the results that concluded from the research
and where they will take the company, and what moves the management should make
to best react to the research findings.
Introduction:
Market Research Manager manages market research efforts for the organization. Sets
policies and practices for gathering research on market conditions, competitors and
consumer trends. Being a Market Research Manager analyzes and presents gathered
research to sales, research and development, and management.
Discussion:
The Role of Research to the Marketing Manager:
Marketing research is "the process or set of processes that links the producers,
customers, and end users to the marketer through information used to identify and
define marketing opportunities and problems; generate, refine, and evaluate marketing
actions; monitor marketing performance; and improve understanding of marketing as a
process. Marketing research specifies the information required to address these issues,
designs the method for collecting information, manages and implements the data
collection process, analyzes the results, and communicates the findings and their
implications."

Example of role Marketing Research Manager:

Here is some role Marketing Research Manager:

 Interface between Market Research and Business Analytics to synthesize

internal database information.

 Exhibit analytical and MR techniques knowledge and use in MR studies.

 Display commitment to high quality, cost effective and timely research.

 Coordinate with Marketing Division staff to design and evaluate marketing

campaigns.

 Develop and execute customer opinion studies and quantitative and qualitative
market research studies.
 Perform market segmentation research and develop customer engagement
strategies.

 Research and develop customer retention strategies.

 Develop sampling plans and perform statistical analysis on time series

regression.

 Investigate market conditions, determine opportunities and create corresponding

solutions to customer concerns.

 Review travel demand estimates, create ridership projections and suggest on

service design.

 Define, measure and report key performance indicators on ridership, fare

revenue and customer satisfaction.

 Calculate ridership and fare policy revenue impacts.

 Create ridership and revenue projections to support long term strategic planning
needs.

 Create various reports and findings to disseminate market information to

audiences on time.

 Handle primary and secondary market research and gather, analyze and
disseminate information.
Various steps of marketing research:
Define the Problem or Opportunity:
The most important part of the marketing research process is defining the problem. In
order to do any research and collect data, you have to know what you are trying to
learn from the research. In marketing research, defining the problem you need to solve
will determine what information you need and how you can get that information. This
will help your organization clarify the overarching problem or opportunity, such as
how to best address the loss of market share or how to launch a new product to a
specific demographic.

Develop Your Marketing Research Plan:

After you’ve examined all potential causes of the problem and have used those
questions to boil down exactly what you’re trying to solve, it’s time to build the
research plan. Your research plan can be overwhelming to create because it can
include any method that will help you answer the research problem or explore an
opportunity identified in step one.

Collect Relevant Data and Information:

In marketing research, most of the data you collect will be quantitative (numbers or
data) versus qualitative, which is descriptive and observational. Ideally, you will
gather a mix of the two types of data. For example, you might run an A/B test on your
website to see if a new pricing tier would bring in more business. In that research
study, you might also interview several customers about whether or not the new
pricing tier would appeal to them. This way, you’re receiving hard data and qualitative
data that provide more color and insight.

Analyze Data and Report Findings:

Now that you’ve gathered all of the information you need, it’s time for the fun part:
analyzing the data. Although one piece of information or data might jump out at you,
it’s important to look for trends as opposed to specific pieces of information. As you're
analyzing your data, don't try to find patterns based on your assumptions prior to
collecting the data.

Put Your Research into Action:

Your research is complete. It's time to present your findings and take action. Start
developing your marketing strategies and campaigns. Put your findings to the test and
get going! The biggest takeaway here is that, although this round of research is
complete, it's not over. The problems, business environment, and trends are constantly
changing, which means that your research is never over. The trends you discovered
through your research are evolving. You should be analyzing your data on a regular
basis to see where you can improve. The more you know about your buyer personas,
industry, and company, the more successful you’re marketing efforts and company
will be. When you look at it that way, you should start to wonder why so many
organizations don’t budget time and resources for marketing research.
Conclusion
Marketing research is usually the first step in the marketing process, after ideas for
products are conceived. Businesses conduct marketing research to obtain information
from the marketplace. They use it to solve problems, obtain information on
competitors and determine the needs and wants of non-paying consumers and
customers. Marketers then analyze the data and develop various marketing strategies.
Coca Cola has remained successful by using market research by implementing surveys
and over time some other types of market research as well to remain successful. In this
paper, I have shared with you that any type of market research can be used but it is
based on what the business need at the time. I hope this information has shown you
how important market research is and what it has to offer.