6 Important Steps of Pharmaceutical Marketing Research Process (India)

We define marketing research as the systematic design, collection analysis and reporting of data and findings relevant to a specific marketing situation facing the company.

Step 1: Define the Problem, the Decision Alternatives and Research Objectives:

Problems should not be defined either too broadly or too narrowly. A very broad or vague definition leads to excessive wastage of resources, too narrow a definition leads to inad­equate data or information required to take an effective. Clarity on the following helps define the problem appropriately:

1. What is to be researched (the content the scope)

2. Why is to be researched (the content the scope)

Working backwards from the decisions can be a good way of defining problems because the purpose of research is to generate meaningful in information which will help in taking effective decisions.

The end produce of this exercise has to be clear definition of the problem and research objective.

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Step 2: Develop the Research Plan:

The second stage of marketing research requires developing the most efficient for gathering the required information. This involves decision on the data sources research approaches, research instruments sampling plan and contact method.

Data sources the researcher can gather secondary data primary data to both secondary data are data that were collected for another purpose and already exist somewhere primary data are freshly gathered data a specific purpose for a specific research project.

Researchers usually start their investigation by examining secondary data to see whether the problem can be partly or wholly solved without collection costly primary data when the required data do not exist or are dated inaccurate incomplete or unreliable the researcher will have to collect primary data. Most marketing research projects involve a certain amount of primary data collection using various research approaches.

Research approached primary data can be collected in five ways though observation focus group surveys behavioral data and experiments

Observational research researchers can be gather fresh data by observing the relevant actors and setting unobtrusively observing as they shop or as they consume products. Some­times they equip consumers with pagers and instruct them to write down what there doing whenever prompted or they hold informal interview sessions at or bar. Photographers can also provide a wealth of detailed information.

Step 3: Collect the Information:

The data collection phase of marketing research is generally the most expensive the most po\one to error four major problem arise in surveys some respondent will not be at home and must be contacted again correlated. Other respondents will refuse to cooperate. Still others will give biased or dishonest answers. Finally some interviewers will be biased or dishonest.

Data collection methods are rapidly improving thanks to computers and telecommunica­tions. Some telephone research firms interview form a central location using professional interviewers to read a set of question from monitor and type the respondent’s answers into a computer.

This procedure eliminates editing and ending reduces errors saves time and produces all the required statistics. Other research firms have set up interactive terminals in shopping centers where respondents sit at terminal read question form the monitor and type in their answers marketing insight researching rural markets highlights some precautions to be taken while conducting research in rural markets.

One of the biggest obstacles to collecting information internationally is the need to achieve consistency. A market research firm with offices in 46 countries says in global research we have to adapt culturally to how where and with whom we are doing the research a simple research study conducted globally becomes” much more complicated as a result of the cul­tural nuances and its necessary for us to be sensitive to those nuances in a survey s they feel like they’re talking to a real person. On the other handin asia respondents may feel more pressure to conform and may therefore not be as forthcoming in focus groups as online.

Step 4: Analyze the Information:

The next to last step in the process in to extract findings by tabulating the data and develop­ing frequency distributions. The researchers now computer averages and measures of dis­persion for the major variables and apply some advanced Statistical techniques and decision models in the hope of discovering additional findings. They may test different hypotheses and theories, analysis to test assumptions and the strength of the conclusions.

Step 5: Present the Findings:

As the last step the researcher presents findings relevant to the major marketing decisions facing management. Researchers increasingly are being asked to play a more proactive consulting role in translating data and information into insights and recommendation they also considering ways to present research findings in a understandable and compelling fashion as possible.

Step 6: Make the Decision:

Research findings only provide additional information and insight to the managers depend­ing on their confidence in the finding managers decide to use it discard it. Or carry out more research.