While market research proposals are often geared towards the gathering of data for the purposes of marketing a particular product or service, a market research proposal aims to gather detailed information about a market’s size and trends
Marketing research is at the heart of addressing the four P’s of marketing: product, price, place and promotion. That is, the service or product must satisfy a real need, be priced at the right target will be seen by the ideal people and promoted to generate sales. The proposal is a rationale for undertaking a research project and as such it must be persuasive, written in non-technical language as well as thorough in its analysis.
Below is a guide to expert help with writing a research proposal in or out of the university.
Start with an attention-grabbing title:
[ATTENTION-GRABBING PROJECT TITLE]
Prepared By [YOUR NAME]
1. SUMMARY
The market research project, entitled [ATTENTION-GRABBING PROJECT TITLE] will investigate and discover information regarding [SPECIFIC TOPIC]. The following summary will give an overview of the causes, processes, and the possible effects of the market research proposal, detailed below.
Tip: The summary section summarizes the entire project to be outlined. In this section, give a brief overview of the purpose of the project as well as the expected outcome and what contributions this project will make to the field. You can also use the summary section to discuss who requested the project or if there was a specific reason or motivation for the research.
2. OBJECTIVES
The proposed market research project has the following objectives:
Tip: In this section, describe in detail the purpose of the project. Describe the goals which you hope to achieve with this project. Show why there is a specific need for this research.
3. EXISTING KNOWLEDGE
Tip: This section should focus on the circumstances which indicate a need for the specific market research project proposed. You will overview the current body of knowledge on the topic of research. Here you will bring forth information from existing sources regarding the specific topic to be researched. In this section, it’s good to provide cited sources, charts, and statistics. You will use this section to demonstrate that your knowledge of the market you will be researching, but you will also show the holes or flaws in the current knowledge.
- EXPECTED OUTCOMESTip: In this section list what you believe will be the likely results or outcomes of your research, and/or what you hope to achieve or learn from the research.
5. TARGET DEMOGRAPHICS
Tip: This is usually the most important section of the proposal, you must provide information on what part or parts of “the market” you will be researching. The more details the better, addressing not only the exact demographic regions your research will cover but why and how you can ensure that you are reaching the ideal demographics.
6. DATA COLLECTION
Describe the methods of data collection that will be best suited for your project. Research methods will include:
Focus groups
In person promotionals
Social media data
Surveys
Consumer tests
Tip: In this section, you the will thoroughly describe all data collection methods to be utilized in your market research and how they will be achieved. Use details and consider possible questions. How was data accuracy maintained? How will you approach potential candidates? Will participants be paid for their time? The more information you can provide in this section, the better.
7. RESEARCH METHODOLOGY
Tip: In this section, discuss the strengths and possible weaknesses of your research methods. Provide an overview of your methodology in approaching research data. Discuss the means of treating the collected data and how errors will be accounted.
8. TIMELINE(S)
Tip: Provide timelines for the completion of the project, including data collection times, and allotted time for research analysis, corrections, and conclusions.
Task 1 ([DATE] [TIME])
[TASK] [DESCRIPTION]
Task 2 ([DATE] [TIME])
[TASK] [DESCRIPTION]
Task 3 ([DATE] [TIME])
[TASK] [DESCRIPTION]
Task 4 ([DATE] [TIME])
[TASK] [DESCRIPTION]
9. BUDGET
Tip: In this section, provide an overall budget for the project. Make sure to include all possible cost. Your budgets may include expenses such as Participant Reimbursement, funds for documents, travel, lodging, office rental, etc.
10. ETHICAL CONSIDERATIONS
Tip: Ethical considerations are important in market research. In this section, demonstrate how the project will adhere to an normal or best practices. If applicable, include copies documents you plan to provide to research participants. Among other possibilities, address factors such as confidentiality, privacy, consent, and data security.
