Steps in Market Research Process at Libyan International Medical University
Market research plays a crucial role in evaluating the feasibility of new products or services. This presentation by Arwa Fawzi Ghaith at the Libyan International Medical University outlines the steps involved in the market research process, ranging from defining the problem to putting research findings into action. Understand the significance of market research in today's dynamic business landscape and how it aids in making informed strategic decisions.
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Presentation Transcript
Libyan International Medical University Faculty of Business Administration The Steps in the Market Research Process 11thof May, 2022 Arwa Fawzi Ghaith 3275 Arwa_3275@limu.edu.ly
Objectives After this presentation you should be able to : Define market research Outline the steps in the market research process 1
01. Introduction What is Market Research? 02. The Steps in The Market Research Process 03. Conclusion Table of Contents References 04. 2
The human experience 10th grade Introduction 01. What is Market Research? 3
What is Market Research? Market research is defined as the process of evaluating the feasibility of a new product or service, through research conducted directly with potential consumers ( Market research: Definition, methods, types and examples , 2021). 4
The Steps in The Market Research Process 1. Define the problem or opportunity 2. Develop your marketing research plan 3. Collect relevant data and information 4. Analyze data and report findings 5. Put your research into action 5
Conclusion In conclusion, with constant change in marketing and business, one thing that remains the same is the need for marketing research. Marketing research is a helpful tool for organizations to identify marketing strategies and evaluate business decisions using data that has been collected during the market research process (Tomasetti, 2016). 6
References Market research: Definition, methods, types and examples. QuestionPro. (2021, June 9). Retrieved May 9, 2022, from https://www.questionpro.com/blog/what-is-market-research/ Tomasetti, B. (n.d.). The 5 step marketing research process. Inbound Marketing Agency. Retrieved May 9, 2022, from https://www.smartbugmedia.com/blog/the-5-step-marketing- research-process 7
