Data collection for marketing research is acknowledged as a detailed process where a planned search for all relevant data is indeed made by a researcher. The success of marketing research is much dependent upon the integrity and relevance of the given data. The quality of the data much depends on the methods of data collection that is being made use of. The selection and use of methods for the required conducting of marketing research does involve a lot of experience as well as expertise in order to correctly assess the suitability.
Data collection for market research
Two methods are involved in market research which are –Qualitative Research and Quantitative Research. Qualitative Research is generally made use of to develop an initial understanding of the given problem. It is non- statistical in nature and the answers are rather derived from the data itself. It is made use of for exploratory and descriptive research designs. Qualitative data can be indeed procured through a variety of forms such as interview transcripts; documents, diaries and notes made while observing. Quantitative Research on the other hand, rather quantifies the data and also generalizes the results from the sample to the population. Learn Beginners Guide on Bitcoin
There are two types of data:
- Primary Data– Data that is indeed collected first hand by the researcher. This data is rather specifically collected for the purpose of the study and also addresses the current problem.
- Secondary Data– Data which is derived from other sources that has been already collected and is also readily available. This data is less expensive and also more quickly attainable from various published sources. Secondary data is very useful when primary data cannot be actually obtained at all.
One has to select the collection process. The market research process does consist of 6 distinct steps:
- Step 1 – Determine the research problem and objectives
- Step 2 – Cultivate the overall research plan
- Step 3 – Collect the data
- Step 4 – Analyze the data
- Step 5 – Present or publish the findings
- Step 6 – Use the findings to make an informed decision
To further know more about Step 3, there are few effective methods of data collection:
Telephone Interviews
These save money and time. It is much easier form of communicating. Telephonic interviews are convenient as compared to face-to-face interviews.
Online Surveys
The use of online surveys has increased manifold. It is least expensive way to reach the greatest number of people all across the world. Once an online survey has been designed, it can indeed be stored easily, revised as well as reused as needed from time to time. The key is in the design as well as layout of the survey. The response time is rather quick and for this reason online surveys have rather become the preferred method of data collection for many consumer satisfaction surveys and product as well as service feedback. It is rather easy to track respondents, non-respondents. Electronic reminders can also be sent easily at a very low cost. Respondents do have the option to begin the survey.
Face to Face Interviews
This is a very flexible way to gather data and also gain trust as well as cooperation from the respondents. Besides that, interviewing respondents in person does mean their non-verbal language can be observed as well. It is quite useful to detect discomfort when respondents are involved in discussing sensitive issues.
Face to face interviews can also be carried out via Intercept Interviews as well. These interviews can also take place on the spot at shopping malls, street corners or even at homes. These interviews need to be brief, up to the point.
