Typically, a market research project will take around 6 -7 weeks. On the other hand, large projects may take a longer time, especially if you need comprehensive data from a large sample. Here is the typical schedule of a marketing research project.
Week 1
Project introduction, define what data that should be gathered, how many sample sizes are needed, the sources of participants, and other things. If you use the service of a market research company, it is the right time to getting known with the agency’s team and ensure that they understand your objectives and goals for this project.
Week 2-3
Whether you use interview or focus group discussion, you need to create a discussion guide to determine the directions of your market research. At this time, the agency will also help you recruit participants based on the pre-determined requirements.
Week 4-5
After preparing for the participants and discussion guide, it is time to conduct the research. Generally, conducting a four discussion group may only take one week. While doing other types of researches may take up to 2 weeks.
Week 6-7
Now, you have gathered all the data that you need. But data is only a data if you can’t turn it into an actionable plan. Write an easy-to-understand report of your market research that you can use for your business activities.
Compared to the interview and focus group discussion, using an online survey may take less effort and time. The typical schedule would be like this :
Week 1
Project introduction, including define objectives, goals, and list of participants.
Week 2
Prepare for the question, double-check, and pre-test to ensure it can give the result that you want.
Week 3
Adjust and optimize questions for the survey.
Week 4
Close the survey, write the summary, and report.
Then again, the schedule above is only an estimation. There might be unforeseen circ*mstances that make it longer or even shorter. Need a professional agency to help your market research? Deka Insight has a team of professionals with diverse skills to help your market research and achieving your business objective
