The process outlined in Exhibit 5.2 provides a general framework of the market research process.
The business objectives, spelt out in the research proposal, ought to provide a clear sense of direction. The objectives are framed to address issues confronting the business, or more specifically the brand. The research process must remain focussed on delivering the recommendations and action plans that address these issues.
The research objectives pose the questions that need to be answered, to illuminate the issues confronting the brand. The research is designed to answer these questions and grasp the facts. Conclusions are drawn from the answers, and from the interpretation of the facts. The recommendations ought to spell out how to address the business issues.
In order to derive a return on investment, actions need to be taken, based on the research programme. Good recommendations therefore state a course of action, based not only on the knowledge gleaned from the research, but also on other sources of knowledge. A good understanding of the brand’s strategy, and the market and business dynamics confronting it, is a prerequisite to crafting meaningful recommendations.
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