A professional marketing research report is a detailed and extensive report focusing on a specific product or service to answer particular marketing research questions. According to Nunan et al. (2020), the objective of a professional marketing research report is to identify a potential market target audience. For example, in the Starbucks case, the marketing research report looks into the demographic, economic, and psycho-graphic of the target market. For instance, Starbucks concentrated on people aged 15-45 years with high income and a high level of education. It enables Starbucks to target a particular market. Another objective is to identify potential competitors. Hair et al. (2021) asserted that through marketing research, organizations could identify competitive advantages and disadvantages of other companies operating in the same field. For instance, Starbucks’s significant competitors, like DD and Zara, also operate in the coffee industry. Through the report, Starbucks will be in a position to establish the product demand to help it get a more significant share of the market.
The elements common to all marketing research reports include an executive summary. An executive summary presents findings and recommendations in a form suitable for reading by senior managers heading a marketing department or by other executives in an organization. Kumar et al. (2018) stated that an executive summary is designed to be skimmed and to provide the reader with enough information so they can make an informed decision about whether to invest more resources into a given project or terminate it entirely. The next element is an introduction. An introduction includes the purpose of the study, who conducted the research and why, who will use the results, and a brief review of prior research in this area (Kumar et al., 2018). The other element is the background. According to Kumar et al. (2010), this section provides the historical development, the background on the industry itself and its competition, and an overview of other marketing data available at the time.
The other element common to all marketing research is methodology. The methodology describes how data were collected and analyzed using sample selection, data collection procedures, sampling techniques, data analysis procedures, and a description of survey questions and scales used in an interview or focus group (Kumar et al., 2018). The next element is findings. There are many types of reports produced by marketing research firms. However, all share a set of common findings: who is using the product (demographics), who is likely to purchase it in the future (segmentation), what differentiates this product from others like it on the market, and where it is distributed (distribution), among others. The last element is the conclusion linked to the references. The conclusion presents the recommendations, especially in the form of “what-if” scenarios (Kumar et al., 2018). References should be cited at the end of the document and comprise any outer material used as sources in completing a report (Kumar et al., 2018). It includes source information for each source and a key for identifying sources in other chapters that are cited in this report.
Problem areas are a problem facing a researcher, agency, or organization in conducting a research project. A research report has to be relevant to its intended audience, and its findings have to be soundly based on the evidence. According to Hulland et al. (2018), problem areas in research include inadequate sample size, a small number of observations, and the inability to test all hypotheses or when there is a lack of power. The problem areas that may arise when writing a marketing research report include the following:
- Failure to perform a selection process to ensure all research subjects are relevant and appropriate, eliminating those that are not.
- Failure to learn about the actual market research exercises performed by competitors and to avoid making the same mistakes.
- Incorrectly placing more emphasis on marketing objectives than on facts such as product performance and customer patterns.
- Failing to note other products that may be used instead of the proposed product or using incorrect data to estimate customer acceptance of the product line.
- Failure to consider all possible marketing practices, including those that may be negative to sales.
The importance of presentations in marketing research is that it allows the audience to see the results of research that is conducted and to understand the data that was used to conclude. According to Shen and de la Garza (2019), presentation in the research market not only allows people to understand the findings but also enables them to see the whole concept of research and give a clear idea about results. Presentations also make it easy for persons involved in research to understand their roles in the marketing research process (Shen & de la Garza, 2018). for example, it is a case study of Starbucks; through a presentation of the market research results, it can be seen how this company was able to generate more sales and profits by promoting its products. In addition, presentations in market research are a way of summarizing the data that is already generated as information in such a way that it can be easily understood by the people who are interested in the material(Shen & de la Garza, 2018). for example, in the Starbucks case study, the presentation shows the data used, such as surveys and information gathered from various sources.
References
Hair, J. F., Ortinau, D., & Harrison, D. E. (2021). Essentials of Marketing Research (5th ed). McGraw-Hill.
Hulland, J., Baumgartner, H., & Smith, K. M. (2018). Marketing survey research best practices: evidence and recommendations from a review of JAMS articles. Journal of the Academy of Marketing Science, 46(1), 92-108. Web.
Kumar, V., Leone, R. P., Aaker, D. A., & Day, G. S. (2018). Marketing research. John Wiley & Sons.
Nunan, D., Malhotra, N. K., & Birks, D. F. (2020). Marketing research: Applied insight. Pearson UK.
Shen, Z., & de la Garza, A. (2019). Developing a Digital Artifact for the Sustainable Presentation of Marketing Research Results. Sustainability, 11(23), 6554. Web.