Marketing has always been about the strength of your idea and your homework behind it. A brilliant idea with zero planning and background research is bound to fail. On the contrary, an average idea with proper research of the domain can excel if provided with the right marketing.
This leads us to the understanding of a fact that before you begin your market research before you initiate your marketing plan, you must ensure that the objectives of your research are crystal clear.
What are the Objectives of Research?
To ease you of your confusion, the purpose of the objectives of research is to identify the reason why you are conducting your market research. Now there might be an exceedingly detailed reason for that, nobody expects it to be simple enough. However, it varies from business to business.
Many people often argue that such open-ended questions lead to countless other open-ended questions such as:
- Is the purpose of your market research to discover the strength of your brand?
- Do you want to figure out your competitions’ sales performance?
I would say that this is a good start. The only good thing about research is the emergence of questions. These questions then go on to solve a variety of different confusions that prove helpful in a company’s marketing plan.
The marketers need to pay attention to the research objectives because they outline the scope of the business. They define the range of expansion of a business.
For instance, in the case of the research objective being narrow, you are unable to extract relevant information. This leads to a loss of essential information that would have been in the interests of the business.
Whereas, in the event of the research objective being too large, you will end up finding out heaps of irrelevant and useless information.
This is, precisely, why there is a need to put extra effort into preparing the research objectives with extended research and focus.
Due to the build-up, in case if you are wondering what are the three types of objectives a marketing research project might have, let’s jump right into the details.
Causal Research Objectives
Most of the time, a company requires to observe the cause and effect of certain parameters to manage and regulate its resources. In order to do that, the company needs to perform causal research which can be done if the market research plan comprises of causal research objectives.
The advantage of these objectives is that upon receiving the results of the cause/effect analysis, the company can decide to launch or introduce a new product in the market.
Descriptive Research Objectives
Just to reiterate my previous point, the purpose of the research objectives is to clarify the purpose of the particular market research. Now, by the title, it is easy to understand that this type of research objectives deals with the WHY of a market research.
Since this type of research objective demands detail, it is more concerned with the qualitative aspects of the research. These objectives object to the decisions of customers when they tend to opt for a brand A instead of brand B.
Now, although a market research questionnaire needs to be accurate, it also needs to be concise and concrete. To meet both these attributes, a marketer needs to consider the descriptive research objectives to ensure they do not miss out on relevant information.
Exploratory Research Objectives
As the name suggests, the purpose of exploratory market research is to conduct a detailed exploratory analysis of the market. The analysis consists of different ways to find out relevant information regarding the in-question domain.
The advantage of having this type of objective is that it is open-ended in nature. This nature of being open-ended allows the objectives to be highly interactive. Furthermore, it has no predefined structure.
Usually, there is no past information available so the objectives need to be accurate in order to let marketers gather maximum relevant information.
Objectives of Research Example (Exploratory)
When an organization is working on a new product or service, they tend to conduct exploratory research after its development. This step of beta-testing allows the company to gauge the performance of the product/service and conduct its usage analysis with respect to the customers’ feedback.
In order to conduct this research, they first need an objective in their market research beforehand to gather necessary information regarding the feature they are introducing.
After going through the article, we hope that you must have acquired the relevant information that you required. The provided information should help you with some of your confusions like:
- What are the objectives of research?
- How to write objectives of research?
- What are the three types of objectives a marketing research project might have?
Let me know if this article was of any help to you. Are there any points that I happened to miss in my explanation? I would want to know your feedback in the comments section below.
Have a nice day!