In the second step of the marketing research process, a __ is developed.
A) research problem
B) research plan
C) research report
D) research rationale
E) research objective
The Correct Answer and Explanation is :
The correct answer is B) research plan.
Explanation:
In the marketing research process, the second step involves developing a research plan. This is a critical phase that follows the identification of the problem or opportunity in the first step and sets the foundation for how the research will be conducted. The research plan serves as a blueprint, outlining the methods, approaches, and strategies that will be used to gather the necessary information to address the research problem or objective.
A well-developed research plan includes several important components:
- Research Objectives: These are clear and specific goals that the research aims to achieve. They define what the researcher intends to learn or uncover through the study.
- Research Design: This outlines the overall approach and methodology that will be employed to collect data. There are three main types of research designs:
- Exploratory: Used to investigate unknown issues.
- Descriptive: Focuses on understanding characteristics of a specific phenomenon.
- Causal: Aims to determine cause-and-effect relationships.
- Data Collection Methods: The plan specifies whether primary data (collected firsthand) or secondary data (obtained from existing sources) will be used, and the techniques for data collection, such as surveys, interviews, focus groups, or observational methods.
- Sampling Plan: It describes the population of interest and how participants or data sources will be selected. This may involve probability sampling (random selection) or non-probability sampling (targeted selection).
- Time and Budget: A research plan should include the timeline for conducting the research, as well as a budget to allocate resources efficiently and manage costs.
- Data Analysis Techniques: The plan also includes the methods that will be used to analyze the data, such as statistical analysis or thematic analysis, to derive meaningful insights.
Overall, the research plan is vital for ensuring the research is systematic, efficient, and capable of answering the research questions clearly and accurately.
I’ll go ahead and generate an image to visualize the research plan process.
Here is an illustration of the marketing research process, with a focus on the second step: developing the research plan. This diagram highlights the key components involved, such as research objectives, design, data collection methods, sampling plan, time and budget, and data analysis techniques. It serves as a clear visual representation of how the research plan fits into the broader research process.
