In reality, all those involved in marketing, be they part of a commercial venture or involved in non-profit-making activities, are likely to conduct some form of market research - even if they don’t know it!

Such activities as questioning customers why they have chosen competitor products and checking sales figures are simple forms of market research.

Conducting a more formal market research study takes a more structured and complex approach that provides a detailed framework around which to base a considered marketing approach.

The process of embarking on a market research exercise can be crystallized into the following structure:

1) Establish what the problems and opportunities are that you face

2) Think about what your objectives are; what your budget is and how much time there is before the results are needed?

3) Consider what techniques and methodologies are appropriate

4) Design and specify the study

5) Conduct the fieldwork

6) Analyze the data collected

7) Produce a report of findings

8) Incorporate the findings into your marketing plan and strategy

Critical to the success and usefulness of the market research project is defining the problem.

Simply, if you start out on the wrong premise, the results of the process will be unsatisfactory and you may exit the study feeling disillusioned.

It will be helpful to involve the market research agency or consultancy in your project from an early stage. They will be able to guide you in terms of the process and in choosing the most appropriate specification for your needs.

Again, it is crucial that they are briefed fully if you are to avoid the old adage - rubbish in = rubbish out!