Implementation Stage
Implementation Stage in Market Research
Collecting Data
- The implementation stage commences once the plan is in place, beginning with data collection.
- Researchers often use a mix of primary and secondary data to gather rich and diverse information.
- Primary data includes fresh data collected directly from respondents through interviews, questionnaires, observations, etc.
- Secondary data, however, comes from existing resources such as academic journals, online databases, market reports, and more.
Recording and Processing Data
- The gathered data must be meticulously recorded and processed into a manageable format.
- This makes data easier to understand and interpret.
- Be alert to potential issues in data collection such as incomplete forms, errors, or misleading responses — these can be detrimental to the research outcome.
Analysing Data
- Data analysis is a critical component of market research. It involves interpreting and making sense of the data collected.
- Qualitative data is typically interpreted through methods such as content analysis or thematic analysis.
- Quantitative data, on the other hand, can be analysed using statistical techniques, some of which include descriptive analysis, inferential analysis, or predictive analysis.
Applying Statistical Techniques
- Researchers utilise statistical techniques to condense large data sets into meaningful information.
- Common techniques include mean, mode, median computation, tests of significance, correlation analysis and regression analysis.
- The right technique to use will depend on the type of data collected, and research objectives.
Interpreting Findings
- The culmination of the implementation stage is the interpretation of findings.
- It involves drawing conclusions from analysed data, and linking these conclusions back to the initial research objectives.
- It’s vital to communicate findings accurately and clearly.
Challenges and Issues in Implementation
- Researchers must be cognizant of potential challenges during the implementation phase, such as respondent biases, irregularities in data, or technical difficulties.
- Consideration must be given to ethical and legal issues around privacy, confidentiality, and consent.
- Continued assessment and flexibility in adapting to challenges help ensure the integrity and success of the market research implementation.