2nd Bac - Research Plan Structure

Research Plan Structure

The market research plan guides the entrepreneur about the objectives and activities to be carried out, to obtain the data and information that will help them to decide whether or not to start a business. The main elements of a market research plan are:

-       Formulation of the problem to investigate

o   Before - Whether or not a business idea can have good or bad results in the market

o   Is there an unsatisfied need of a good or service that is intended to be produced or commercialized in the target market?

o   During – As a product of experiences in the management of the entrepreneurship

-       Definition of market research objectives

o   From the research question, the next step is to transform it into general and specific objectives

o   General objective: To determine the existence or not in the market of an unsatisfied need of the good or service

o   The specific objectives are formulated over the base of the general objective, the behavior of the customers and the competition should be considered

-       Definition of the hypothesis 

o   It’s the answer to the question of the problem to investigate

-       Selection of techniques to capture data

o   Interview, survey, observation, focus groups, the review of paper or digital documents about statistics or other data 

-       Analysis of the data gathered

o   Use methodological principals and tools of applied statistics (to infer results about the population from a sample)

-       Generation of the guiding conclusions report

o   To elaborate a report that describes the main conclusions of the research and to prove or not the hypothesis.

 

Stages of a market research

Stage

Meaning

Defining the objectives

Define the purpose of the research

Research plan design

Methods of data gathering

Obtaining the information

Different techniques

Treatment and analysis of the information

Through mathematical and statistical methods

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