Marketing research is important to address important elements of the marketing called product, pricing, placement, and promotion. These elements are also known as the four P’s of marketing, and it is important to have focused on them. The proposal should clarify that the product has the ability to satisfy the needs of the customer and its price level is according to their purchasing capacity.
The marketing research proposal should explain the purpose and scope of the products. The proposal is designed to introduce the new product and its properties. Do not forget to address technological issues, economic concerns, competitive factors, and other important elements.
How can the marketing research proposal template help?
Marketing research is important for any business organization because you can get knowledge about market trends and demands of customers. You can get reliable solutions and answers to the important queries to cope with the market challenges. You should provide a detailed outline of the research proposal to explain the overall research strategy with the vision and values.
The proposal should identify the sources according to the market needs, promotional policies and pricing. The data should be gathered through a reliable source because the facts and figures are used to answer different questions of the lender, clients, and collaborators. It is important to address your different business needs, and a professional looking proposal will prove really helpful to get a financier for your business. The marketing research proposal template is designed for your guidance.
Sample Market Research Proposal
To: We-Water
Main Blvd.
California, CA
311-3454343
From: ABC
Market Research Agency
Sacramento, CA
Overview
We-Water is one of the largest independent bottlers in America. Their aim is to inspire a healthy lifestyle. Their recently launched XYZ Fitness Energy Drink is a product that boosts consumer’s workout and helps them stay awake and alert when required. It allows athletes to recover faster from exercise because it contains carbohydrates and caffeine, which boosts energy, alertness, and concentration. We-Water wants to monitor the effectiveness of sales and marketing; evaluate their competitive landscape by analyzing the current market.
Introduction
ABC is a market research consultancy based in the USA. We cater to clients in the United States, Mexico, and Canada. We are a group of energetic and creative doers and thinkers. We believe that knowing your client is the most important thing to make a business successful. Our aim is to provide clarity on real business issues through market research, including tracking and analyzing retail-promotional activities. These, in turn, can help your company increase revenue, sales and brand recognition and improve your business as a whole.
We-Water has increasingly targeted the competitive growing market for Energy Drinks since the XYZ brand has started to decline. ABC will conduct more detailed market research to find out the reasons for the softness in its market performance.
Services
We provide the following services
- Surveys
- Brand awareness and perception study
- Ethnography
- Focus groups
- Website performance analysis
- Product testing
Problem Statement
As your company recently launched a new product “XYZ” at the beginning of this year, your company records show that this product is not getting very positive feedback. People living in the states, especially youngsters, are very keen towards trying new and adventurous flavors, but this particular new product was not received as expected by your company. One of the reasons is that the marketing strategy was not effective. We would like to carry out thorough research on this product launch and reception.
Objective
The main objective of our study will be to identify the factors affecting the sales of XYZ. Also, we would like to include the following in our research so your company can have a better understating of the whole market situation:
- Upcoming trends in taste
- Consumer purchase intentions
- Favorite flavors of different age groups
- Factors influencing taste buds
- Best ways to establish XYZ as the new energy drink: for this, we will use qualitative research method.
Research Design
Primary
Pilot Surveys
Initially, we will conduct a pilot survey to get an idea of whether all the participants are able to follow instructions and are able to understand what we are trying to ask them.
Focus Groups
We will conduct a focus group involving 20 people in each of the three states. Their ages will be 16-40 years. We will get to know what people are actually thinking about the product when they will have discussions among themselves and bounce ideas off of one another.
Online Surveys
We will run an online survey using the Social Media Network, such as Facebook and Twitter. This is an effective and efficient way to send the survey to large numbers of clients and users. The main advantage is that we can be directly in contact with target respondents.
Secondary
Descriptive Research
Lastly, we will conclude our research in a structured form with all the factual and detail information about the XYZ drink.
Sampling
Target population
Our target population is about 2 million people living in three states, Florida, California, and Virginia.
Sampling unit
Both female and male across 2 age groups:
16-25 years
25-40 years
Size
For each of the focus groups, 20 people will be included in the discussion. There will be a total of 3 discussions in the following regions:
- Florida
Location: UF Housing and Residence Education
- California
Location: California Banquet Hall
- Virginia
Location: Virginia University Hall
For Pilot survey, a sample of 25 people each in three states will be used.
For descriptive research, we will survey sample size of 2000 across all major cities of the United States.
Procedure
We will use Judgment Sampling.
We will conduct personal interviews through questionnaires and Focus group discussions will be done.
Analyze Data
We will analyze the data based on our research. The main aspects covered will be
- Did they already know the product? If yes, then how did they find out about XYZ?
- What number of people like trying new flavors and why?
- What percentage of people like carbonated and non-carbonated drinks?
Timeline
| Weeks took | Category | Task |
| 1-2 | Preparation | Briefing sessions, questionnaire designs, recruitment of participants |
| 2-3 | Collection of Data | Primary and secondary methodologies including focus groups and Surveys. |
| 2-3 | Transition | Processing information into visual forms/Reports |
| 3 | Analysis | Analyzing the data with respect to the brief. Make recommendations. |
| 1 | Presentation | Submitting the reports and conducting face-to-face sessions/workshops |
| 1 | Take measures | Implementing the report findings and executing them in the market |
Cost
The details of the cost are provided below:
| Names | Cost/ month |
| Research Analyst | $3,000 |
| Survey Analyst | $4,000 |
| Postal Fee | $500 |
| Telecommunication Fee | $500 |
| Administration Fee | $1,000 |
| Overheads | $500 |
Terms and Conditions
- ABC agrees that all the information provided will be held in strict confidentiality. Only information subject to the Freedom of Information and Privacy Act may be disclosed.
- 50% of the total payment shall be made upon signing the proposal.
- The remaining payment shall be made upon delivery of the reports and recommendations.
Contact us
You can contact us in any of the following ways:
ABC
Phone: 084-113111
E-mail: [Email]
Preview & Download Details
File Format: Microsoft Word 2007/10
Word(.doc) and iPad
Total size on disk: 52 Kb
