5 STEPS TO SUCCESSFUL MARKET RESEARCH

Before Cabinet Cible engages in a market research we follow a number of steps, and also putting into consideration the demand of our client. This is not just to conduct a good market research but to ensure that the outcome is valuable to our clients. All these need time and precision. We can subgroup this process into five steps.

1. DEFINE THE SWOT

SWOT standing for Strength, Weakness, Opportunity and Treats. We can further subgroup this under Weakness and Opportunity (WO). Treats embodied in weakness and strength embodied in Opportunity. We ensure to define the Weakness and Opportunity as this will guide us in the objective of the study, building the methodology and achieving the goal of the research.

2. DEVELOP A MARKET RESEARCH PLAN

After defining the WO we go further to develop the plan. The plan entails knowing the location of the study and where to start, knowing the sector of activity and where to begin, knowing the population and gender, financing, and preparing the tools, will it be CAPI, CATI or CASI just to name a few. These are the few heads up we need during the preparation.

3. COLLECT RELEVANT DATA AND INFORMATION

Most of the data you collected are quantitative (numbers or data) and/or qualitative, which is descriptive and observational. We do everything to be 100% unbiased so as to ensure a quality and precise outcome for our clients. Here we send a whole team of experiences interviewers, consultants, analysts, field supervisors etc where needed in other to achieve the demanded objective. The number of interviewers can range from one to even as high as surpassing 100 interviewers depending on the nature of the study after repeated training to make sure the methodology is understood. The fieldwork is accompanied by supervision and back checks thereafter.

4. DATA ANALYSIS AND REPORT FINDINGS

After the fieldwork is conducted, it is now time for the data analysis and report findings. Where, our team is guided and aware not to analyze the data trying to find patterns based on assumptions prior to collecting the data.

5. IMPLEMENTATION OF THE REPORT

After the fieldwork is carried, the data is then exported to the client for implementation or we accompany the client in the implementation. This is the level we start thinking of coming up with a marketing strategy to solve the problem that was discovered or grasp the opportunity that exists

Generally, market research is not stereotype, but involves a whole lot of processes depending on the demand and observation but these five are the five main core steps good to begin with…