A general approach to market research

Abstract

A market research tries to minimize the commercial risks of a product or a service but is not a guarantee of success in its commercialization. It must be organized in two phases. The first phase is the planning where the problem, the theoretical framework, the study design and the activity schedule are formulated. The second phase is made up by the sample preparation, the data collection and its process, the analysis results and its making and finally the report. The research can be basic or applied. Could be in a qualitative way where one considers the knowledge of a marketing situation related to nature. Could be in a quantitative way where the measurement settings of a certain population give us a result.  While the focus of the product research, can be either for final consumption or average consumption. The market research approach depends on the variables of the survey and the technique procedures to obtain information from the primary and secondary sources. It should be mentioned that all collected data must have a utility that does not influence in the decision making.