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A company faces many crucial challenges, like generating leads and traffic, hiring the best talent, etc. By conducting effective marketing research, managers can make the correct decisions for solving these challenges. Whether you are a marketing student or a professional in this field, you will often have to prepare useful marketing research reports.
Before you begin preparing the report, you must learn how to write one first. In this blog, you will find a useful guide on writing effective marketing research reports.
Marketing research reports are documents that contain a detailed analysis of the target markets of a company. Marketing research reports play a pivotal role in both strategic planning and business decision making. From these reports, one can gather information regarding market shifts that have occurred due to changes in various factors, such as social trends or economical.
In business planning, preparing a market research report is a crucial phase. The report provides a well-structured ground for collecting and arranging data about a specific market as well as potential customers. Managers always need to stay updated about the needs and wants of the customers, the current situation of the market, the changes taking place in the technological field, and the extent of competition. A marketing research report serves as a consolidation of all the information, thus helping the managers in building effective marketing strategies.
To write an effective marketing research report, you need to follow the steps mentioned below:
At first, you need to collect the necessary data to write a good marketing research report. You should bring together the information you have gathered from different market research efforts. Assemble survey results, review the data collected from various available sources for demographics and analyze the statistics for an idea of the target market size. You must also examine the data to ascertain the target market’s profile.
Once you have gathered all the necessary information, write the report’s front matter. This should include a summary of the process that you have used to do your market research as well as the results you have acquired. In the introduction, give a concise summary of your business and also the reason for carrying out the market research. Make sure that this part is captivating enough for the readers.
Next, you need to prepare a list of the research methods you have used to gather the information. For example, if you used surveys to collect data, mention the following:
Apart from these, you must also figure out the resources from where the demographic information has been acquired.
To present the results you have gathered from the study, use graphs, tables or matrices. After you have written the research methods you have employed, include the 'results' section. You can also provide a narrative explanation for the data you have presented in a tabulated form. Other than this, you should also include the conclusion you have drawn based on the information that you have gathered.
In the last section of your marketing research report, include a recommendation list. Prepare this list based on your research results. If you have found out that your target market prefers to communicate virtually, then you can recommend using digital technology methods for marketing purposes, like online platforms and social media. The market research will also assist you in inclining your marketing message in a way that meets the expectations of your target audience. For example, you would want to focus on the quality of your service or product if your customers consider quality more than price.
Using all the steps mentioned above, you can easily write your marketing research report.
Whether it is for your academic purpose or a professional reason, your aim should be to make your marketing research report practical and relevant enough. There is no hard and fast rule for writing such a report. You can customize it based upon the project or challenges the company in question faces. The above guide, along with the basic tenets, will definitely make the process of writing easier for you.
In the end, keep the readers in mind while preparing the marketing research report. You must find out unique and creative ways for presenting the data in your report. Use various tools like graphics, text, tables, etc. to present your data so that the readers can easily understand those.
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