Marketing Research MIX (4PS)
“Marketing research mix 4ps” is a framework that assists researchers in the design and analysis of market research studies. Marketing research mix (4ps), like marketing and marketing mix, incorporates the four P’s. The elements are not random, but rather sequential, which distinguishes it from “Marketing Mix”.
In 2004, the phrase “marketing research mix 4ps” was coined. It is a framework that assists researchers in the design and analysis of market research studies. This name is like the Marketing Mix; the names were kept similar on purpose. Marketing research mix (4ps), like marketing and marketing mix, incorporates the four P’s. The elements are not random, but rather sequential, which distinguishes it from the “Marketing Mix” four P’s. The elements also correspond to each of the phases that must be followed. Purpose, population, procedure, and publication are the four P’s of the marketing research mix.
All four Ps are explained in detail below:
The reason for conducting research is called the purpose. Purpose is used in a broad sense and can be defined or broadly explained. Some experts refer to this stage as “aim,” “objective,” or “hypotheses,” but “purpose” is more commonly used.
Population sampling is an essential component of the mix. If you’re familiar with the phrase “consider the source,” you’ll recognize what’s going on here. And if you haven’t chosen the right source of feedback, you can’t rely on the data to help you make a good decision.
For example, if you were trying to gauge interest in a product aimed at teen girls, you would want to ensure that your sample included teen girls, not just women.
This element defines the market research methodology. Whether it would involve a large number of people, as in quantitative research, or a small number of people, as in qualitative research. What should the research timeframe be, and where will the research be conducted?
The best research usually begins with a look at secondary data. Secondary data is pre-existing information. Secondary research includes, for example, research papers, data from within your organization, and even a literature review. In the most basic sense, whenever you search Google, you are conducting the secondary research. And here is where I must issue a word of caution: PLEASE make certain that the sources you are using as part of your secondary research are valid and credible.
But what if that isn’t enough — or if you don’t have access to credible secondary data? This is where you should think about conducting primary research. Primary research entails directly asking questions of your target audience — you’re getting it straight from the “horse’s mouth,” which is why it’s called primary research — you’re going to a primary source of information.
When conducting primary research, an online survey tool (such as QuestionPro) can help you not only collect responses, but also expand beyond your existing network by allowing you to purchase samples and responses from a very specific targeted audience.
This is the final stage of the research. Most of us call this “reporting” (but since it doesn’t begin with a ‘P,’ we’ll call it “publication”).
The primary goal of this document is to provide answers to the five basic questions: who, what, when, where, and why. You might even consider including “How much” in this mix because reports frequently require recommendations, which are always an important part of any marketing project.
Before you sit down to write a report the size of “War and Peace” with the excitement level of a brick wall, think about your audience and what is most important to them: what decision are they trying to make, what options are available, what is the best option, and what is the impact?
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