HOW TO WRITE A MARKET RESEARCH ASSIGNMENT?

Step 1: Defining Objectives
The objectives of a research basically intend to communicate what is the purpose of that particular research and what will the reader find out when they go through the details of the research. In terms of market research specifically, the objectives will outline what the researchers want to know about the customers. The desired outcome of the research must be mentioned in the objectives.

How to create the objectives:

  • Determines its place in the market strategy- While writing the objectives for research one needs to consider where will they fit in the market strategy which is being devised.
  • Include information about target audience- The researcher needs to select the user segment which they will be targeting. This is vital to understand who shall be analyzed or which area should be analyzed for the research.
  • What is being measured- There are specific points which are assessed during a research and these points vary from one research to another. However, this means that the points chosen need to be such that they can be quantified and measured. A range of points can be selected in this case.
  • Is there a behaviour- A research objective can also include any behaviour that it intends to analyze.

Types of objective:

  • Broad: They refer to objectives which give an overall view as to what the research intends to find.
  • Specific: They refer to objectives which provide detailed information regarding what aspects will be assessed and what the research intends to find.

Step 2: Make a Research Design
Research design can be simplified and understood as the framework of the entire research. A decision must be made regarding the following factors :

  • Type of data that needs to be collected
  • Location and timeline of research
  • Participants and source of information
  • Methods of collecting and analyzing data

There are many options to choose from in terms of research design. A researcher needs to prioritize in this case as to which design would prove to be the strongest for their research. The design includes information related to whether there will be collection of firsthand information which is referred to as primary data or will there will be a use of researches which already exist which is referred to as secondary data. The kind of data collection is bifurcated into Qualitative & Quantitative.

  • Qualitative data includes experiences, understanding concepts and interpretation of meanings. This type of data collection is flexible and it can be adjusted according to the expected findings.
  • Quantitative data includes variables which can be quantified such as frequencies and testing hypothesis.

Step 3: Preparing Research Instrument
Research instrument refers to the tools which are used to conduct research on specific topics. The appropriate instrument needs to be identified and used in order to gather data. Researchers need to ensure the instruments are reliable. Before selecting the instrument one should try and gain more knowledge about the kind of instruments which other researches have used to conduct researches on similar topics. Every instrument has certain guidelines and researchers need to be well versed with all of them. There needs to be clarity whether the selected instrument will directly assist in achieving the result intended. The questions which will be given to participants must be revised because they must be in sync with the objectives.

How to select the appropriate instrument:

  • The type of data that needs to be collected is the deciding factor in the selection of instrument.
  • Format of instrument must be appropriate.
  • Prepare a pilot instrument before the final instrument. All the corrections which are identified in the pilot instrument can be implemented in the final one.

Types of instruments:

  • Questionnaire
  • Interview
  • Observation
  • Experiment

Step 4: Collection of data
Once the instrument has been selected the researchers need to distribute the instruments to the participants of research so that the data can be analyzed and a conclusion can be formed. Each instrument has a different method of being conducted and data being collected. Questionnaires can be sent via emails. Interviews can be conducted in person or through telephone. Observation is recorded when the researcher is present around the participants and noticing certain attributes. Experiment is when the relationship between two variable is examined.

Step 5: Analysis of data
Once the data has been collected the next step is to do the analysis. There a number of problems that may arise during the analysis. Some of them are as follows:

  • >Inadequate training of researchers
  • Biased responses
  • Selecting the wrong group of participants.
  • Choosing the wrong method of data collection.
  • Not clearly defining objectives of the research.
  • There can be environmental factors which can cause hindrance.

A proper conclusion can be only found when the analysis is done correctly. The researcher must be extremely vigilant while conducting the analysis so that they do not miss any important information. The analysis can influence the conclusion drawn from the data.

Step 6: Conclusion
There a number of ways to draw conclusion from data which is gathered. The researcher should not assume that every reader will go through the entire content of the research. There could be readers who only want to know the conclusion & that is why it is necessary that it must be written in a manner that it can stand alone. Conclusion cannot include any new information or argument as it can be confusing. The ending of a research I.e the conclusion must be strong & provide complete clarification of the selected topic.

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