Defining the research problem is crucial for setting the direction and focus of a market research study. This step ensures that the research is targeted and relevant. A critical aspect involves framing the issue within a broader context by conducting a thorough literature review. For instance, to understand why a new beverage product is underperforming, researchers review existing studies on consumer preferences and market trends to identify gaps.
After identifying the problem, specifying the scope becomes crucial. This step involves determining the variables and target demographics to be studied. Researchers might focus on factors affecting the product's performance, such as marketing strategies, packaging appeal, and competitor analysis. They also decide whether to study a specific age group or a broader audience.
Formulating precise research objectives is crucial as it guides the methodology and analysis. Objectives such as assessing advertising effectiveness, identifying factors influencing consumer decisions, or evaluating market positioning plays a significant role in the research process. By defining the problem systematically, researchers can design a focused study with appropriate methods, leading to actionable insights and solutions.
From Chapter 10:
Now Playing
Market Research
182 Views
Market Research
335 Views
Market Research
237 Views
Market Research
225 Views
Market Research
98 Views
Market Research
114 Views
Market Research
843 Views
Market Research
1.0K Views
Market Research
926 Views
Market Research
79 Views
Market Research
89 Views
Market Research
87 Views
Market Research
76 Views
Market Research
207 Views
Market Research
100 Views
See More
Copyright © 2025 MyJoVE Corporation. All rights reserved