how to write a business research

How To Write A Research Paper

Step-By-Step Tutorial With Examples + FREE Template

By: Derek Jansen (MBA) | Expert Reviewer: Dr Eunice Rautenbach | March 2024

For many students, crafting a strong research paper from scratch can feel like a daunting task – and rightly so! In this post, we’ll unpack what a research paper is, what it needs to do , and how to write one – in three easy steps. 🙂 

Overview: Writing A Research Paper

What (exactly) is a research paper.

• How to write a research paper
• Stage 1 : Topic & literature search
• Stage 2 : Structure & outline
• Stage 3 : Iterative writing
• Key takeaways

Let’s start by asking the most important question, “ What is a research paper? ”.

Simply put, a research paper is a scholarly written work where the writer (that’s you!) answers a specific question (this is called a research question ) through evidence-based arguments . Evidence-based is the keyword here. In other words, a research paper is different from an essay or other writing assignments that draw from the writer’s personal opinions or experiences. With a research paper, it’s all about building your arguments based on evidence (we’ll talk more about that evidence a little later).

Now, it’s worth noting that there are many different types of research papers , including analytical papers (the type I just described), argumentative papers, and interpretative papers. Here, we’ll focus on analytical papers , as these are some of the most common – but if you’re keen to learn about other types of research papers, be sure to check out the rest of the blog .

With that basic foundation laid, let’s get down to business and look at how to write a research paper .

Overview: The 3-Stage Process

While there are, of course, many potential approaches you can take to write a research paper, there are typically three stages to the writing process. So, in this tutorial, we’ll present a straightforward three-step process that we use when working with students at Grad Coach.

These three steps are:

• Finding a research topic and reviewing the existing literature
• Developing a provisional structure and outline for your paper, and
• Writing up your initial draft and then refining it iteratively

Let’s dig into each of these.

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Step 1: Find a topic and review the literature

As we mentioned earlier, in a research paper, you, as the researcher, will try to answer a question . More specifically, that’s called a research question , and it sets the direction of your entire paper. What’s important to understand though is that you’ll need to answer that research question with the help of high-quality sources – for example, journal articles, government reports, case studies, and so on. We’ll circle back to this in a minute.

The first stage of the research process is deciding on what your research question will be and then reviewing the existing literature (in other words, past studies and papers) to see what they say about that specific research question. In some cases, your professor may provide you with a predetermined research question (or set of questions). However, in many cases, you’ll need to find your own research question within a certain topic area.

Finding a strong research question hinges on identifying a meaningful research gap – in other words, an area that’s lacking in existing research. There’s a lot to unpack here, so if you wanna learn more, check out the plain-language explainer video below.

Once you’ve figured out which question (or questions) you’ll attempt to answer in your research paper, you’ll need to do a deep dive into the existing literature – this is called a “ literature search ”. Again, there are many ways to go about this, but your most likely starting point will be Google Scholar .

If you’re new to Google Scholar, think of it as Google for the academic world. You can start by simply entering a few different keywords that are relevant to your research question and it will then present a host of articles for you to review. What you want to pay close attention to here is the number of citations for each paper – the more citations a paper has, the more credible it is (generally speaking – there are some exceptions, of course).

Ideally, what you’re looking for are well-cited papers that are highly relevant to your topic. That said, keep in mind that citations are a cumulative metric , so older papers will often have more citations than newer papers – just because they’ve been around for longer. So, don’t fixate on this metric in isolation – relevance and recency are also very important.

Beyond Google Scholar, you’ll also definitely want to check out academic databases and aggregators such as Science Direct, PubMed, JStor and so on. These will often overlap with the results that you find in Google Scholar, but they can also reveal some hidden gems – so, be sure to check them out.

Once you’ve worked your way through all the literature, you’ll want to catalogue all this information in some sort of spreadsheet so that you can easily recall who said what, when and within what context. If you’d like, we’ve got a free literature spreadsheet that helps you do exactly that.

Step 2: Develop a structure and outline

With your research question pinned down and your literature digested and catalogued, it’s time to move on to planning your actual research paper .

It might sound obvious, but it’s really important to have some sort of rough outline in place before you start writing your paper. So often, we see students eagerly rushing into the writing phase, only to land up with a disjointed research paper that rambles on in multiple

Now, the secret here is to not get caught up in the fine details . Realistically, all you need at this stage is a bullet-point list that describes (in broad strokes) what you’ll discuss and in what order. It’s also useful to remember that you’re not glued to this outline – in all likelihood, you’ll chop and change some sections once you start writing, and that’s perfectly okay. What’s important is that you have some sort of roadmap in place from the start.

At this stage you might be wondering, “ But how should I structure my research paper? ”. Well, there’s no one-size-fits-all solution here, but in general, a research paper will consist of a few relatively standardised components:

• Introduction
• Literature review
• Methodology

Let’s take a look at each of these.

First up is the introduction section . As the name suggests, the purpose of the introduction is to set the scene for your research paper. There are usually (at least) four ingredients that go into this section – these are the background to the topic, the research problem and resultant research question , and the justification or rationale. If you’re interested, the video below unpacks the introduction section in more detail. 

The next section of your research paper will typically be your literature review . Remember all that literature you worked through earlier? Well, this is where you’ll present your interpretation of all that content . You’ll do this by writing about recent trends, developments, and arguments within the literature – but more specifically, those that are relevant to your research question . The literature review can oftentimes seem a little daunting, even to seasoned researchers, so be sure to check out our extensive collection of literature review content here .

With the introduction and lit review out of the way, the next section of your paper is the research methodology . In a nutshell, the methodology section should describe to your reader what you did (beyond just reviewing the existing literature) to answer your research question. For example, what data did you collect, how did you collect that data, how did you analyse that data and so on? For each choice, you’ll also need to justify why you chose to do it that way, and what the strengths and weaknesses of your approach were.

Now, it’s worth mentioning that for some research papers, this aspect of the project may be a lot simpler . For example, you may only need to draw on secondary sources (in other words, existing data sets). In some cases, you may just be asked to draw your conclusions from the literature search itself (in other words, there may be no data analysis at all). But, if you are required to collect and analyse data, you’ll need to pay a lot of attention to the methodology section. The video below provides an example of what the methodology section might look like.

By this stage of your paper, you will have explained what your research question is, what the existing literature has to say about that question, and how you analysed additional data to try to answer your question. So, the natural next step is to present your analysis of that data . This section is usually called the “results” or “analysis” section and this is where you’ll showcase your findings.

Depending on your school’s requirements, you may need to present and interpret the data in one section – or you might split the presentation and the interpretation into two sections. In the latter case, your “results” section will just describe the data, and the “discussion” is where you’ll interpret that data and explicitly link your analysis back to your research question. If you’re not sure which approach to take, check in with your professor or take a look at past papers to see what the norms are for your programme.

Alright – once you’ve presented and discussed your results, it’s time to wrap it up . This usually takes the form of the “ conclusion ” section. In the conclusion, you’ll need to highlight the key takeaways from your study and close the loop by explicitly answering your research question. Again, the exact requirements here will vary depending on your programme (and you may not even need a conclusion section at all) – so be sure to check with your professor if you’re unsure.

Step 3: Write and refine

Finally, it’s time to get writing. All too often though, students hit a brick wall right about here… So, how do you avoid this happening to you?

Well, there’s a lot to be said when it comes to writing a research paper (or any sort of academic piece), but we’ll share three practical tips to help you get started.

First and foremost , it’s essential to approach your writing as an iterative process. In other words, you need to start with a really messy first draft and then polish it over multiple rounds of editing. Don’t waste your time trying to write a perfect research paper in one go. Instead, take the pressure off yourself by adopting an iterative approach.

Secondly , it’s important to always lean towards critical writing , rather than descriptive writing. What does this mean? Well, at the simplest level, descriptive writing focuses on the “ what ”, while critical writing digs into the “ so what ” – in other words, the implications. If you’re not familiar with these two types of writing, don’t worry! You can find a plain-language explanation here.

Last but not least, you’ll need to get your referencing right. Specifically, you’ll need to provide credible, correctly formatted citations for the statements you make. We see students making referencing mistakes all the time and it costs them dearly. The good news is that you can easily avoid this by using a simple reference manager . If you don’t have one, check out our video about Mendeley, an easy (and free) reference management tool that you can start using today.

Recap: Key Takeaways

We’ve covered a lot of ground here. To recap, the three steps to writing a high-quality research paper are:

• To choose a research question and review the literature
• To plan your paper structure and draft an outline
• To take an iterative approach to writing, focusing on critical writing and strong referencing

Remember, this is just a b ig-picture overview of the research paper development process and there’s a lot more nuance to unpack. So, be sure to grab a copy of our free research paper template to learn more about how to write a research paper.

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Home Market Research

Business Research: Methods, Types & Examples

Content Index

Business research: Definition

Quantitative research methods, qualitative research methods, advantages of business research, disadvantages of business research, importance of business research.

Business research is a process of acquiring detailed information on all the areas of business and using such information to maximize the sales and profit of the business. Such a study helps companies determine which product/service is most profitable or in demand. In simple words, it can be stated as the acquisition of information or knowledge for professional or commercial purposes to determine opportunities and goals for a business.

Business research can be done for anything and everything. In general, when people speak about business research design , it means asking research questions to know where the money can be spent to increase sales, profits, or market share. Such research is critical to make wise and informed decisions.

LEARN ABOUT: Research Process Steps

For example: A mobile company wants to launch a new model in the market. But they are not aware of what are the dimensions of a mobile that are in most demand. Hence, the company conducts business research using various methods to gather information, and the same is then evaluated, and conclusions are drawn as to what dimensions are most in demand.

This will enable the researcher to make wise decisions to position his phone at the right price in the market and hence acquire a larger market share.

LEARN ABOUT:  Test Market Demand

Business research: Types and methodologies

Business research is a part of the business intelligence process. It is usually conducted to determine whether a company can succeed in a new region, to understand its competitors, or simply select a marketing approach for a product. This research can be carried out using steps in qualitative research methods or quantitative research methods.

Quantitative research methods are research methods that deal with numbers. It is a systematic empirical investigation using statistical, mathematical, or computational techniques . Such methods usually start with data collection and then proceed to statistical analysis using various methods. The following are some of the research methods used to carry out business research.

LEARN ABOUT: Data Management Framework

Survey research

Survey research is one of the most widely used methods to gather data, especially for conducting business research. Surveys involve asking various survey questions to a set of audiences through various types like online polls, online surveys, questionnaires, etc. Nowadays, most of the major corporations use this method to gather data and use it to understand the market and make appropriate business decisions.

Various types of surveys, like cross-sectional studies , which need to collect data from a set of audiences at a given point of time, or longitudinal surveys which are needed to collect data from a set of audiences across various time durations in order to understand changes in the respondents’ behavior are used to conduct survey research. With the advancement in technology, surveys can now be sent online through email or social media .

For example: A company wants to know the NPS score for their website i.e. how satisfied are people who are visiting their website. An increase in traffic to their website or the audience spending more time on a website can result in higher rankings on search engines which will enable the company to get more leads as well as increase its visibility.

Hence, the company can ask people who visit their website a few questions through an online survey to understand their opinions or gain feedback and hence make appropriate changes to the website to increase satisfaction.

Learn More:  Business Survey Template

Correlational research

Correlational research is conducted to understand the relationship between two entities and what impact each one of them has on the other. Using mathematical analysis methods, correlational research enables the researcher to correlate two or more variables .

Such research can help understand patterns, relationships, trends, etc. Manipulation of one variable is possible to get the desired results as well. Generally, a conclusion cannot be drawn only on the basis of correlational research.

For example: Research can be conducted to understand the relationship between colors and gender-based audiences. Using such research and identifying the target audience, a company can choose the production of particular color products to be released in the market. This can enable the company to understand the supply and demand requirements of its products.

Causal-Comparative research

Causal-comparative research is a method based on the comparison. It is used to deduce the cause-effect relationship between variables. Sometimes also known as quasi-experimental research, it involves establishing an independent variable and analyzing the effects on the dependent variable.

In such research, data manipulation is not done; however, changes are observed in the variables or groups under the influence of the same changes. Drawing conclusions through such research is a little tricky as independent and dependent variables will always exist in a group. Hence all other parameters have to be taken into consideration before drawing any inferences from the research.

LEARN ABOUT: Causal Research

For example: Research can be conducted to analyze the effect of good educational facilities in rural areas. Such a study can be done to analyze the changes in the group of people from rural areas when they are provided with good educational facilities and before that.

Another example can be to analyze the effect of having dams and how it will affect the farmers or the production of crops in that area.

LEARN ABOUT: Market research trends

Experimental research

Experimental research is based on trying to prove a theory. Such research may be useful in business research as it can let the product company know some behavioral traits of its consumers, which can lead to more revenue. In this method, an experiment is carried out on a set of audiences to observe and later analyze their behavior when impacted by certain parameters.

LEARN ABOUT: Behavioral Targeting

For example: Experimental research was conducted recently to understand if particular colors have an effect on consumers’ hunger. A set of the audience was then exposed to those particular colors while they were eating, and the subjects were observed. It was seen that certain colors like red or yellow increase hunger.

Hence, such research was a boon to the hospitality industry. You can see many food chains like Mcdonalds, KFC, etc., using such colors in their interiors, brands, as well as packaging.

Another example of inferences drawn from experimental research, which is used widely by most bars/pubs across the world, is that loud music in the workplace or anywhere makes a person drink more in less time. This was proven through experimental research and was a key finding for many business owners across the globe.

Online research / Literature research

Literature research is one of the oldest methods available. It is very economical, and a lot of information can be gathered using such research. Online research or literature research involves gathering information from existing documents and studies, which can be available at Libraries, annual reports, etc.

Nowadays, with the advancement in technology, such research has become even more simple and accessible to everyone. An individual can directly research online for any information that is needed, which will give him in-depth information about the topic or the organization.

Such research is used mostly by marketing and salespeople in the business sector to understand the market or their customers. Such research is carried out using existing information that is available from various sources. However, care has to be taken to validate the sources from where the information is going to be collected.

For example , a salesperson has heard a particular firm is looking for some solution that their company provides. Hence, the salesperson will first search for a decision maker from the company, investigate what department he is from, and understand what the target company is looking for and what they are into.

Using this research, he can cater his solution to be spot on when he pitches it to this client. He can also reach out to the customer directly by finding a means to communicate with him by researching online.’

LEARN ABOUT: 12 Best Tools for Researchers

Qualitative research is a method that has a high importance in business research. Qualitative research involves obtaining data through open-ended conversational means of communication. Such research enables the researcher to not only understand what the audience thinks but also why he thinks it.

In such research, in-depth information can be gathered from the subjects depending on their responses. There are various types of qualitative research methods, such as interviews, focus groups, ethnographic research, content analysis, and case study research, that are widely used.

Such methods are of very high importance in business research as they enable the researcher to understand the consumer. What motivates the consumer to buy and what does not is what will lead to higher sales, and that is the prime objective for any business.

Following are a few methods that are widely used in today’s world by most businesses.

Interviews are somewhat similar to surveys, like sometimes they may have the same types of questions used. The difference is that the respondent can answer these open-ended questions at length, and the direction of the conversation or the questions being asked can be changed depending on the response of the subject.

Such a method usually gives the researcher detailed information about the perspective or opinions of its subject. Carrying out interviews with subject matter experts can also give important information critical to some businesses.

For example: An interview was conducted by a telecom manufacturer with a group of women to understand why they have less number of female customers. After interviewing them, the researcher understood that there were fewer feminine colors in some of the models, and females preferred not to purchase them.

Such information can be critical to a business such as a  telecom manufacturer and hence it can be used to increase its market share by targeting women customers by launching some feminine colors in the market.

Another example would be to interview a subject matter expert in social media marketing. Such an interview can enable a researcher to understand why certain types of social media advertising strategies work for a company and why some of them don’t.

LEARN ABOUT: Qualitative Interview

Focus groups

Focus groups are a set of individuals selected specifically to understand their opinions and behaviors. It is usually a small set of a group that is selected keeping in mind the parameters for their target market audience to discuss a particular product or service. Such a method enables a researcher with a larger sample than the interview or a case study while taking advantage of conversational communication.

Focus group is also one of the best examples of qualitative data in education . Nowadays, focus groups can be sent online surveys as well to collect data and answer why, what, and how questions. Such a method is very crucial to test new concepts or products before they are launched in the market.

For example: Research is conducted with a focus group to understand what dimension of screen size is preferred most by the current target market. Such a method can enable a researcher to dig deeper if the target market focuses more on the screen size, features, or colors of the phone. Using this data, a company can make wise decisions about its product line and secure a higher market share.

Ethnographic research

Ethnographic research is one of the most challenging research but can give extremely precise results. Such research is used quite rarely, as it is time-consuming and can be expensive as well. It involves the researcher adapting to the natural environment and observing its target audience to collect data. Such a method is generally used to understand cultures, challenges, or other things that can occur in that particular setting.

For example: The world-renowned show “Undercover Boss” would be an apt example of how ethnographic research can be used in businesses. In this show, the senior management of a large organization works in his own company as a regular employee to understand what improvements can be made, what is the culture in the organization, and to identify hard-working employees and reward them.

It can be seen that the researcher had to spend a good amount of time in the natural setting of the employees and adapt to their ways and processes. While observing in this setting, the researcher could find out the information he needed firsthand without losing any information or any bias and improve certain things that would impact his business.

LEARN ABOUT:   Workforce Planning Model

Case study research

Case study research is one of the most important in business research. It is also used as marketing collateral by most businesses to land up more clients. Case study research is conducted to assess customer satisfaction and document the challenges that were faced and the solutions that the firm gave them.

These inferences are made to point out the benefits that the customer enjoyed for choosing their specific firm. Such research is widely used in other fields like education, social sciences, and similar. Case studies are provided by businesses to new clients to showcase their capabilities, and hence such research plays a crucial role in the business sector.

For example: A services company has provided a testing solution to one of its clients. A case study research is conducted to find out what were the challenges faced during the project, what was the scope of their work, what objective was to be achieved, and what solutions were given to tackle the challenges.

The study can end with the benefits that the company provided through its solutions, like reduced time to test batches, easy implementation or integration of the system, or even cost reduction. Such a study showcases the capability of the company, and hence it can be stated as empirical evidence of the new prospect.

Website visitor profiling/research

Website intercept surveys or website visitor profiling/research is something new that has come up and is quite helpful in the business sector. It is an innovative approach to collect direct feedback from your website visitors using surveys. In recent times a lot of business generation happens online, and hence it is important to understand the visitors of your website as they are your potential customers.

Collecting feedback is critical to any business, as without understanding a customer, no business can be successful. A company has to keep its customers satisfied and try to make them loyal customers in order to stay on top.

A website intercept survey is an online survey that allows you to target visitors to understand their intent and collect feedback to evaluate the customers’ online experience. Information like visitor intention, behavior path, and satisfaction with the overall website can be collected using this.

Depending on what information a company is looking for, multiple forms of website intercept surveys can be used to gather responses. Some of the popular ones are Pop-ups, also called Modal boxes, and on-page surveys.

For example: A prospective customer is looking for a particular product that a company is selling. Once he is directed to the website, an intercept survey will start noting his intent and path. Once the transaction has been made, a pop-up or an on-page survey is provided to the customer to rate the website.

Such research enables the researcher to put this data to good use and hence understand the customers’ intent and path and improve any parts of the website depending on the responses, which in turn would lead to satisfied customers and hence, higher revenues and market share.

LEARN ABOUT: Qualitative Research Questions and Questionnaires

• Business research helps to identify opportunities and threats.
• It helps identify research problems , and using this information, wise decisions can be made to tackle the issue appropriately.
• It helps to understand customers better and hence can be useful to communicate better with the customers or stakeholders.
• Risks and uncertainties can be minimized by conducting business research in advance.
• Financial outcomes and investments that will be needed can be planned effectively using business research.
• Such research can help track competition in the business sector.
• Business research can enable a company to make wise decisions as to where to spend and how much.
• Business research can enable a company to stay up-to-date with the market and its trends, and appropriate innovations can be made to stay ahead in the game.
• Business research helps to measure reputation management
• Business research can be a high-cost affair
• Most of the time, business research is based on assumptions
• Business research can be time-consuming
• Business research can sometimes give you inaccurate information because of a biased population or a small focus group.
• Business research results can quickly become obsolete because of the fast-changing markets

Business research is one of the most effective ways to understand customers, the market, and competitors. Such research helps companies to understand the demand and supply of the market. Using such research will help businesses reduce costs and create solutions or products that are targeted to the demand in the market and the correct audience.

In-house business research can enable senior management to build an effective team or train or mentor when needed. Business research enables the company to track its competitors and hence can give you the upper hand to stay ahead of them.

Failures can be avoided by conducting such research as it can give the researcher an idea if the time is right to launch its product/solution and also if the audience is right. It will help understand the brand value and measure customer satisfaction which is essential to continuously innovate and meet customer demands.

This will help the company grow its revenue and market share. Business research also helps recruit ideal candidates for various roles in the company. By conducting such research, a company can carry out a SWOT analysis , i.e. understand the strengths, weaknesses, opportunities, and threats. With the help of this information, wise decisions can be made to ensure business success.

LEARN ABOUT:  Market research industry

Business research is the first step that any business owner needs to set up his business to survive or to excel in the market. The main reason why such research is of utmost importance is that it helps businesses to grow in terms of revenue, market share, and brand value.

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Business research: definition, types & methods.

10 min read What is business research and why does it matter? Here are some of the ways business research can be helpful to your company, whichever method you choose to carry it out.

What is business research?

Business research helps companies make better business decisions by gathering information. The scope of the term business research is quite broad – it acts as an umbrella that covers every aspect of business, from finances to advertising creative. It can include research methods which help a company better understand its target market. It could focus on customer experience and assess customer satisfaction levels. Or it could involve sizing up the competition through competitor research.

Often when carrying out business research, companies are looking at their own data, sourced from their employees, their customers and their business records. However, business researchers can go beyond their own company in order to collect relevant information and understand patterns that may help leaders make informed decisions. For example, a business may carry out ethnographic research where the participants are studied in the context of their everyday lives, rather than just in their role as consumer, or look at secondary data sources such as open access public records and empirical research carried out in academic studies.

There is also a body of knowledge about business in general that can be mined for business research purposes. For example organizational theory and general studies on consumer behavior.

Free eBook: 2024 global market research trends report

Why is business research important?

We live in a time of high speed technological progress and hyper-connectedness. Customers have an entire market at their fingertips and can easily switch brands if a competitor is offering something better than you are. At the same time, the world of business has evolved to the point of near-saturation. It’s hard to think of a need that hasn’t been addressed by someone’s innovative product or service.

The combination of ease of switching, high consumer awareness and a super-evolved marketplace crowded with companies and their offerings means that businesses must do whatever they can to find and maintain an edge. Business research is one of the most useful weapons in the fight against business obscurity, since it allows companies to gain a deep understanding of buyer behavior and stay up to date at all times with detailed information on their market.

Thanks to the standard of modern business research tools and methods, it’s now possible for business analysts to track the intricate relationships between competitors, financial markets, social trends, geopolitical changes, world events, and more.

Find out how to conduct your own market research and make use of existing market research data with our Ultimate guide to market research

Types of business research

Business research methods vary widely, but they can be grouped into two broad categories – qualitative research and quantitative research .

Qualitative research methods

Qualitative business research deals with non-numerical data such as people’s thoughts, feelings and opinions. It relies heavily on the observations of researchers, who collect data from a relatively small number of participants – often through direct interactions.

Qualitative research interviews take place one-on-one between a researcher and participant. In a business context, the participant might be a customer, a supplier, an employee or other stakeholder. Using open-ended questions , the researcher conducts the interview in either a structured or unstructured format. Structured interviews stick closely to a question list and scripted phrases, while unstructured interviews are more conversational and exploratory. As well as listening to the participant’s responses, the interviewer will observe non-verbal information such as posture, tone of voice and facial expression.

Focus groups

Like the qualitative interview, a focus group is a form of business research that uses direct interaction between the researcher and participants to collect data. In focus groups , a small number of participants (usually around 10) take part in a group discussion led by a researcher who acts as moderator. The researcher asks questions and takes note of the responses, as in a qualitative research interview. Sampling for focus groups is usually purposive rather than random, so that the group members represent varied points of view.

Observational studies

In an observational study, the researcher may not directly interact with participants at all, but will pay attention to practical situations, such as a busy sales floor full of potential customers, or a conference for some relevant business activity. They will hear people speak and watch their interactions , then record relevant data such as behavior patterns that relate to the subject they are interested in. Observational studies can be classified as a type of ethnographic research. They can be used to gain insight about a company’s target audience in their everyday lives, or study employee behaviors in actual business situations.

Ethnographic Research

Ethnographic research is an immersive design of research where one observes peoples’ behavior in their natural environment. Ethnography was most commonly found in the anthropology field and is now practices across a wide range of social sciences.

Ehnography is used to support a designer’s deeper understanding of the design problem – including the relevant domain, audience(s), processes, goals and context(s) of use.

The ethnographic research process is a popular methodology used in the software development lifecycle. It helps create better UI/UX flow based on the real needs of the end-users.

If you truly want to understand your customers’ needs, wants, desires, pain-points “walking a mile” in their shoes enables this. Ethnographic research is this deeply rooted part of research where you truly learn your targe audiences’ problem to craft the perfect solution.

Case study research

A case study is a detailed piece of research that provides in depth knowledge about a specific person, place or organization. In the context of business research, case study research might focus on organizational dynamics or company culture in an actual business setting, and case studies have been used to develop new theories about how businesses operate. Proponents of case study research feel that it adds significant value in making theoretical and empirical advances. However its detractors point out that it can be time consuming and expensive, requiring highly skilled researchers to carry it out.

Quantitative research methods

Quantitative research focuses on countable data that is objective in nature. It relies on finding the patterns and relationships that emerge from mass data – for example by analyzing the material posted on social media platforms, or via surveys of the target audience. Data collected through quantitative methods is empirical in nature and can be analyzed using statistical techniques. Unlike qualitative approaches, a quantitative research method is usually reliant on finding the right sample size, as this will determine whether the results are representative. These are just a few methods – there are many more.

Surveys are one of the most effective ways to conduct business research. They use a highly structured questionnaire which is distributed to participants, typically online (although in the past, face to face and telephone surveys were widely used). The questions are predominantly closed-ended, limiting the range of responses so that they can be grouped and analyzed at scale using statistical tools. However surveys can also be used to get a better understanding of the pain points customers face by providing open field responses where they can express themselves in their own words. Both types of data can be captured on the same questionnaire, which offers efficiency of time and cost to the researcher.

Correlational research

Correlational research looks at the relationship between two entities, neither of which are manipulated by the researcher. For example, this might be the in-store sales of a certain product line and the proportion of female customers subscribed to a mailing list. Using statistical analysis methods, researchers can determine the strength of the correlation and even discover intricate relationships between the two variables. Compared with simple observation and intuition, correlation may identify further information about business activity and its impact, pointing the way towards potential improvements and more revenue.

Experimental research

It may sound like something that is strictly for scientists, but experimental research is used by both businesses and scholars alike. When conducted as part of the business intelligence process, experimental research is used to test different tactics to see which ones are most successful – for example one marketing approach versus another. In the simplest form of experimental research, the researcher identifies a dependent variable and an independent variable. The hypothesis is that the independent variable has no effect on the dependent variable, and the researcher will change the independent one to test this assumption. In a business context, the hypothesis might be that price has no relationship to customer satisfaction. The researcher manipulates the price and observes the C-Sat scores to see if there’s an effect.

The best tools for business research

You can make the business research process much quicker and more efficient by selecting the right tools. Business research methods like surveys and interviews demand tools and technologies that can store vast quantities of data while making them easy to access and navigate. If your system can also carry out statistical analysis, and provide predictive recommendations to help you with your business decisions, so much the better.

Related resources

Market intelligence 10 min read, marketing insights 11 min read, ethnographic research 11 min read, qualitative vs quantitative research 13 min read, qualitative research questions 11 min read, qualitative research design 12 min read, primary vs secondary research 14 min read, request demo.

Ready to learn more about Qualtrics?

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How to Write a Business Research Report?

A business research report is the same as an academic report. What it aims is to research a topic of specific areas to collect more and more information. The topics may be product development research, marketing, budget research, etc. The purpose of the research report is to provide information or data on any specific area or subject. This business research can either be external or internal.

For example, if a research report is on customer services the researchers will fill the questionnaires from customers on their consent and it is known as an external business research report. A business research report that completed its research process within the organization is called an internal business research report.

Business research provides an opportunity to demonstrate one’s research skills in business. The members work together in an organization to research a specific topic regarding the organization to improve the business operation and management . The main purpose of the research report is to

• Search for data and then understand it
• Add the conversation of other authors
• To learn how others utilize primary and secondary sources in your field

While writing a report following guidelines should be considered. Read carefully the instructions for the Title Page, Format for the Written Research Report, Evaluation of the Written Research Report, Checklist Standards, and Written Entry Checklist are really important to consider.

The first page of the business research report is the title page with the following list:

• Name of Institute
• Name of Advisory
• Advisory’s Address
• City, State/Province, ZIP or Postal Code
• Participant(s) Name(s) and Address

There should be no page number on the title page. But the title page should be included in the number of 15 pages of the report. The page after the title page should be numbered 2 and it should be added for advisory or supervisor signatures.

For a Business research report, it is really important to follow the organizational pattern. This pattern might include the following sections:

• Introduction
• Method section
• Results section
• Conclusions and Recommendations
• Reference list

The research report follows the way from general to specific. The introduction section is general to specific in its approach while the method section is more specific that supports the generalizations of the introduction section. The discussion section is general, leading to the conclusion, which is again general.

Let’s have a look at every section in detail.

1. Introduction

Usually, students consider that they will start their research report by creating a structured introduction. Not every student starts with the introduction, because to write a structured introduction one needs to have enough information, but no one can get such enough information at the start which is why the introduction section is written at the end.

The introduction is mainly divided into three parts.

• How to present the problem?
• What is the purpose of the research report?
• Summary of researcher opinions

As it is a fact that a concerned introduction is the layout of the whole business research report. In the first part of the introduction section, the problem statement is written which helps to assume the research question. Draw a background of your problem and write a literature review regarding your problem to mention to the readers how your research fits into the conversation about the ongoing topic.

You have to mention how previous studies were unable to solve the problem along with mentioning the benefits of solving the problem.

At the end of the introduction, you have to provide, the studies to help your readers to forecast the results and discussion of your report.

2. Method Section

In the method section, you have to describe what methods you are going to use in your business research report. Also here you have to mention the materials you have generated such as interviews and questionnaires to collect the data. If you have experimented with data collection, you have to mention that one too.

Take help from your seniors or research supervisors and always remember that the method section is written in the past tense.

3. Result Section

The result section depends on the type of research being conducted. If your research was qualitative, then you will have to present your results in the form of graphs and charts. Quantitative research includes the representation of quantities.

If you are unfamiliar with the quantitative arrangements, it will be difficult to represent your results. You should add an alternative way to make it easy for your readers to understand your results. There is no such difference between the results and the discussion section.

Sometimes you have to just present your results in a simple, way, but most of the time you have to evaluate and analyze your results. Brief instructions or explanations can be mentioned in a form of a table in qualitative research. Such type of explanatory information is present in Essay type of Reports.

There are some rules to be followed while creating charts and graphs for the arrangement of information. You have to present these results only when you are sure that your reader will easily understand them, and never show confused results. Also, explain your graphic representation by numbers with a descriptive caption.

Here’s the thing that is also important to know the result section is also written in the past tense.

4. Discussion

Your discussion should generalize what you have presented in your whole report. To generalize your findings explain the meanings of your results. Also, give your feedback and then refer to the statements made in the introduction. Avoid discussing new ideas and giving extra details. This section and the introduction section, both are written in the present tense.

5. Conclusions and Recommendations

At the end of every business research report, there is a part of conclusions and recommendations. The conclusion should be about one paragraph as it unites the discussion and the result of a whole business research report, whereas a recommendation shows in a separate section. Conclusions and recommendations both are written in the present tense.

6. References List

The business research report is of course incomplete without references. References are always presented at the end of the research report. It is necessary to mention the sources you have used in your report in the form of a list called a reference list.

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Getting started at uni, study skills, referencing.

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Writing and assessments

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• Postgraduate report writing

Subject areas

For educators.

• Educators' guide
• Writing a business research report

This video explains how to write a business report for postgraduate level students. It covers the introduction, report structure and organisation, writing the report, and business writing.

Introduction

[slide 1: Topic slide]

[slide 2: Outline]

Description:

Sitting at the centre of the screen is: “What am I going to be learning today?” The following four words animate in:

- Introduction

- Report structure and organization

- Writing the report

- Business writing

This resource covers three important features of the writing required for a successful business research report. Following this brief introduction, the second section covers report structure with a focus on suitable ways

to organize content. The third section outlines the features of persuasive writing. And the final section provides tips for strong effective business writing.

[slide 3: What is a business research report?]

A checklist of items that make up a research report:

- Formulates a research

- Reports on research findings

- Recommends actions to achieve desirable outcomes

And is written in a

- Business report format

- Professional business writing style

This assignment provides you with the opportunity to research and write a real workplace report. It will inform the client of important aspects of their research brief. It will also provide recommendations to achieve desirable outcomes. The report will be presented as a written business proposal and as a presentation. This assignment requires a transition from academic writing to professional business writing. A business research report is written in a professional business style that differs from academic writing.

Report structure and organization

[slide 4: Topic slide]

[slide 5: Linear text structure]

[Graphic] Three babushka dolls representing each of the following:

- Whole text

- Paragraph

Overall, reports have a highly structured linear form with a beginning, middle and an end. This is repeated at the section level and the paragraph level.

[slide 6: Part: 1 - Organising content]

A report structure should be broken down into sections, having a beginning, middle and end. An example of this is:

- Executive summary

- Research question

- Problem, context and literature

- Methodology, approach and limitations

- Discussion and data analysis

- Implications (benefits and limitations)

- Recommendation and conclusion

- Considerations of policy adjustments and recommendations for further research

- References

A numbering system is used for the table of contents, and within them a broad example of a research page appears. Here it emphasizes the use of TEEL, and how each paragraph should be linked with one another.

Reports are structured using sections that are clearly organized and use a numbering system. Paragraphs within the sections should be well structured

and ideas should be linked between paragraphs.

[slide 7: Part: 2 - Organising content]

An example of going from general to specific.

- Current trend for businesses to outsource non-core activities

- Increase in demand for Facilities Management (FM) services

- More integrated and strategic approach to providing FM services

- Business now delivers a range of services through a single contract. These include…

General to specific is a useful strategy for organising content in business writing. This is particularly helpful for giving background or an overview.

[slide 8: Report sections]

[Text] We will now go through each of the report sections in detail:

Example. Report structure and headings.

- Report title and authors names

- Recommendations and conclusions

- Consideration of policy adjustments and recommendation for further research

No narration.

[slide 9: Executive summary]

- Briefly summarise the whole report in a logical order

- Outlines context, rationale, objectives, findings, conclusions, recommendations

- Written last, mainly in past tense

A strong executive summary is vital to a successful report as it determines the relevance of the report for the reader. It is the section the reader reads first and provides an overall summary of the whole report. Each major section of the report should be summarised in 1 or 2 sentences.

[Slide 10: Introduction]

- Identifies the main context and issues

- Narrows to project aim/purpose

[Text and graphic example]

Graphic of a triangle point downwards, writing from a general to specific.

Accompanying this the following text:

General (top of the triangle): ‘PICA is a property and financial services company currently offering…’

Specific (bottom of the triangle): ‘PICA requires a business plan for….’

Notice how the introduction narrows the topic from its broader context to the specific purpose of this report. The introduction is written from general to specific, which is a common form found in business writing.

[slide 11: Research question]

Frames the whole report

[Text example]

This report aims to answer the question ‘Is now a good time for PICA to diversify into Facilities Management (FM)’?

- Sub-questions

This research question frames the whole report and focuses the research to a specific area. It is common to have one research question followed by sub questions and these emerge from the larger question being answered.

[slide 12: Problem, context and literature]

Outlines the general situation in the specific business area

- Definitions

- Competitors

- Financial background

The accompanying graphic is of the triangle representation pointing downwards from general to specific.

Problem, context and literature section of the report requires a general

Introduction to the business which then narrows to cover details of competitors and their financial background. Again you are writing from general to specific.

[slide 13: Methodology, approach and limitations]

The research uses an applied strategy with a change focus (Saunders, Lewis & Thornhill 2012).

The main approach is data collection will be This methodology is appropriate because….

The research is based on secondary data, both qualitative and quantitative

Limitations in the research include…

The methodology covers how the research was done, why these methods were chosen, the details of the methods used and the limits of stating explicitly what is covered and what is not.

[slide 14: Discussion and data analysis]

Refer to your research

- Limitations in the research include…

Compare to theory / other research

- Industry bodies and secondary research…

- Eg. This strategy encompasses all aspects of financial reporting (Faulding & Lau 2011)…

Sum up at the end of each section

- In summary, Sydney is well positioned for further growth in residential buildings that require FM services…

It is important to refer to your research to show links between the primary research. In this case industry bodies, secondary research such as academic papers, theory and research and your findings.

[slide: 15: Implications: benefits and limitations]

What do your findings mean for the client?

- The findings outlines above suggests that PICA’s desire to enter the FM industry is expected to be beneficial given that…

- NSW trends demonstrate…

- Evidence suggests that PICA will be required to …

- There are risks associated with entering the FM services market.

It is important to refer to your research to show links between the primary research. In this case industry bodies, secondary research such as academic papers, theory and research and your findings. You need to explain what your research findings mean for your client. These implications will lead into your recommendations in the next section.

[slide 16: Recommendations and conclusions]

[Text and Graphic]

- Restates purpose

- Provides ‘the answer’

- Provides a concluding statement

The accompanying graphic of a triangle representation, this time with it points upward -going from specific to general.

Recommendations

- Suggests steps for further action

Eg. It is recommended that:

o PICA should enter the FM market

o Pica should acquire new…

The conclusion should provide a clear answer to the research question.

The conclusion is the reverse of the introduction it moves from answering the specific research question to showing how it fits into the broader context. In the recommendation section we return to the steps that this specific business should be taking as a result of the report.

[slide 17: Recommendation for further research]

Outline other research

- Based on the research findings, it is recommended that further in-depth analysis be conducted of the competitive landscape.

- PICA should seek legal and tax advice in order to…

Broadening the scope of the research

Examining certain issues in detail

In the final section of your report, outline what other research you think the client should undertake. This could include broadening the scope of the current research or examining certain issues in more detail.

Writing the report

[slide 18: Topic slide]

[slide 19: Paragraphs: TEEL]

[Graphic and Text]

Buns top and bottom: Topic and linking sentence

Condiments and meat: Explanation, evidence and examples

TEEL can be described using a burger metaphor. The topic and linking sentences make up the bun and base of the burger, and the evidence and explanations make the filling.

A paragraph contains one main idea, which is found in the topic sentence.

It is best to put the topic sentence first in the paragraph as this makes reading easier. The rest of the paragraph is made up of explanation and evidence to support the topic sentence.

[slide 20: Paragraph structure: TEEL]

A sample of a paragraph structure is given using the TEEL structure; each of these parts is highlighted.

[Topic] Leighton Contractors is a large-scale FM operation with considerable FM expertise within its own group of companies [end-topic]. [Example] A brief analysis of Leighton’s focus is helpful to PICA as it considers entry to the FM industry as PICA is considering a similar strategy [end-example]. [Evidence] The specific observation of this report is that Leighton focuses its FM operations into specific areas in which its group of companies has expertise, in particular in construction, telecommunications and mining (Leighton Constractors Pty Ltd 2009) [end-evidence]. [Link] This is a key observation as it affirms PICA’s expressed desire to enter FM by leveraging its expertise in Strata Management [end-link].

[slide 21: Persuading the reader]

Grid of icons accompanying the following text:

- Strong topic sentence

- Introduction and summaries for each section

- Effective evaluation and analysis

- Integration of sources to support your view

In a business research report your goal is to persuade the reader to follow your advice. Therefore, it is essential that they believe your understanding of the market is thorough and well researched. The following strategies are useful for writing persuasively.

[slide 22: Strong topic sentence]

[Text examples]

- [underlined] Evolution consulting [end-underlined] recommends that PICA consider acquiring the Port Stevens Group.

- [underlined] The hypothesis [end-underlined] is that now is a good time for PICA to diversify into FM.

Strong topic sentences reinforce your argument and help persuade the reader. Both topic sentences below have a clear direct message.

Notice how the topic sentence comes at the beginning of the sentence.

[slide 23: Introductions and conclusions for sections]

Introduction to a section

It is the belief of the research team that the successful entry into the FM sector will require PICA to target a specific building sub-market.

Conclusion to a section

In a conclusion, from the analysis of overall market trends, PICA would benefit from targeting the residential building sub-market.

Use section introduction and summaries to clearly state and restate your view. This acts as a reminder to the reader and emphasises the consistency

of your argument.

[slide 24: Effective evaluation and analysis]

- Paragraph strategy

- Sentence strategy

It is essential to write convincing evaluations of the strengths, weaknesses and risks. It is this understanding that makes it possible for the company to make decisions about future strategy.

[slide 25: Paragraph strategy]

A graphic illustrating the narration:

At the beginning of a paragraph, the topic sentence (evaluation of risk) should be first written. Followed by an explanation and analysis. Lastly, providing a solution. The language used in the process, should be formal impersonal language.

Here are two useful writing strategies, which make your evaluation

and analysis more effective. They are firstly clear paragraph organization

and secondly use of a formal impersonal style.

[slide 26: Sentence strategy]

Use tentative language

This demonstrates you have a thorough understanding of the level of risk.

- It is advised

- Is minimized

- Will be made

Use passive form

Write in an impersonal style. Suggest your view is based on research rather than opinion.

- Could, would, may, might

- There is a view that,

- There is a perception that

Use active verbs

In business writing it is generally better to write in a

clear and direct style. This includes using active verb forms.

However, when evaluating risks it is useful to write in a more

tentative and indirect style. Using tentative language shows you have a complex understanding of the situation and are aware of the degrees of risk.

It is also useful to write in an impersonal style as this gives your writing authority. It suggest that you are stating the views of the industry or other experts, and not just your own opinion. Passive verb forms generally weaken business writing as they are indirect. However, they are useful in evaluation as their use emphasises the advice itself rather than the voice of the writer.

[slide 27: Integration of sources]

- Supports your view with evidence

- Demonstrates the strength of your research and sources

[slide 28: Referencing in sentences]

Description: Sentence 1:

[Source] ACIF (2013) [end-source] projects that recovery will continue to strengthen for NSW in 2014.

Sentence 2:

Recover of the construction sector will continue to strengthen for NSW in 2014 [source] (ACIF) [end-source]

There are two ways to include references in a sentence at the beginning or at the end. The difference between these two constructions is subtle but it changes the focus of the sentence.

[slide 29: Effects and emphasis]

Source prominent

- Source (ACIF) emphasized as topic

- Common in academic writing where the research itself can be the topic

Information prominent

- Recovery emphasized as topic

- Common in business writing

This sentence emphasizes the source of the information and is common in academic writing. This does not emphasize the view of the student or writer. This sentence puts the information at the beginning of the sentence and emphasizes the writers view. This is useful if the writer wants to persuade the reader to follow his or her advice.

Business writing

[slide 30: Topic slide]

[slide 31: Academic writing and business writing]

Description: Academic

Knowledge and research

- Expected structure

- Academic style

- Uses a range of sources

Business decision-making and action

Workplace / Industry

- Business style

- Uses sources with practical application

There are differences between academic writing and business writing. In academic writing the overall focus is on knowledge and research. In business writing decision making and action are the goal. These differences are important and affect the writing style.

[slide 32: Tips for business writing]

Iconography for the following three points:

- Be direct: Darts board, aimed at the centre

- Be concise: Cutting out words (paper)

- Use strong active verbs: A man lifting up weights

[slide 33: Be direct]

Put the most important information first. So people can easily find it.

Put the topic sentence at the beginning

attitude towards FM services [end-emphasis] have changed to now viewing these costs as life cycle costs (International Facilities Management Association 2011).

[Emphasis] Attitudes towards FM services [end-emphasis] have changed from that of an overhead cost to a life cycle cost (International Facilities Management Association 2011).

Make it easy to read

Clear logical structure, headings, sub-headings and bullet points.

People are busy and will read only minimally. Therefore, one very useful strategy in business writing is to put the most important information first,

so you know the audience will find it. Notice how the first sentence is more difficult to read. In the second sentence the topic is at the beginning of the sentence as this makes the point immediately clear to the reader.

[slide 34: Be concise]

Description: Cut out unnecessary words

Use concise language by replacing wordy phrases with single words.

[slide 35: Use strong active verbs]

Description: Use strong active verbs

[Example 1]

ACIF believes [end-emphasis] that construction projects will experience [end-emphasis] considerable growth in 2014.

[Example 2]

ACIF forecasts [end-emphasis] considerable growth in residential construction investment in 2014.

Strong active verbs convey a clear and remove the need for repetition.

[slide 36: Identify the weaknesses ]

Description: [Poor example]

In terms of non-residential construction projects ACIF (2013) expects that construction investments in NSW will be subject to a considerable growth rate, whereas investments in non-residential construction projects are expected to remain constant for all other region.

How this can be improved

Legend: [strikethrough] = Be concise. [Highlight] = be direct. [Emphasis] = Use strong active words.

[Strikethrough] in terms of [end-strikethrough] [highlight] non-residential [end-highlight] construction projects ACIF (2013) expects [end-emphasis] that [highlight] construction investments in NSW [end-highlight] will be [strikethrough] subject to a considerable growth rate [end-strikethrough] , whereas investments in non-residential construction projects are expected to [end-emphasis] remain constant for all other regions.

[Improved example]

In NSW, construction investment for non-residential projects will grow compared with other regions of Australia (ACIF 2013).

• Overall structure of a report
• Methodology section in a report
• Example of a report
• Report checklist

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13.1 Formatting a Research Paper

Learning objectives.

• Identify the major components of a research paper written using American Psychological Association (APA) style.
• Apply general APA style and formatting conventions in a research paper.

In this chapter, you will learn how to use APA style , the documentation and formatting style followed by the American Psychological Association, as well as MLA style , from the Modern Language Association. There are a few major formatting styles used in academic texts, including AMA, Chicago, and Turabian:

• AMA (American Medical Association) for medicine, health, and biological sciences
• APA (American Psychological Association) for education, psychology, and the social sciences
• Chicago—a common style used in everyday publications like magazines, newspapers, and books
• MLA (Modern Language Association) for English, literature, arts, and humanities
• Turabian—another common style designed for its universal application across all subjects and disciplines

While all the formatting and citation styles have their own use and applications, in this chapter we focus our attention on the two styles you are most likely to use in your academic studies: APA and MLA.

If you find that the rules of proper source documentation are difficult to keep straight, you are not alone. Writing a good research paper is, in and of itself, a major intellectual challenge. Having to follow detailed citation and formatting guidelines as well may seem like just one more task to add to an already-too-long list of requirements.

Following these guidelines, however, serves several important purposes. First, it signals to your readers that your paper should be taken seriously as a student’s contribution to a given academic or professional field; it is the literary equivalent of wearing a tailored suit to a job interview. Second, it shows that you respect other people’s work enough to give them proper credit for it. Finally, it helps your reader find additional materials if he or she wishes to learn more about your topic.

Furthermore, producing a letter-perfect APA-style paper need not be burdensome. Yes, it requires careful attention to detail. However, you can simplify the process if you keep these broad guidelines in mind:

• Work ahead whenever you can. Chapter 11 “Writing from Research: What Will I Learn?” includes tips for keeping track of your sources early in the research process, which will save time later on.
• Get it right the first time. Apply APA guidelines as you write, so you will not have much to correct during the editing stage. Again, putting in a little extra time early on can save time later.
• Use the resources available to you. In addition to the guidelines provided in this chapter, you may wish to consult the APA website at http://www.apa.org or the Purdue University Online Writing lab at http://owl.english.purdue.edu , which regularly updates its online style guidelines.

General Formatting Guidelines

This chapter provides detailed guidelines for using the citation and formatting conventions developed by the American Psychological Association, or APA. Writers in disciplines as diverse as astrophysics, biology, psychology, and education follow APA style. The major components of a paper written in APA style are listed in the following box.

These are the major components of an APA-style paper:

Body, which includes the following:

• Headings and, if necessary, subheadings to organize the content
• In-text citations of research sources
• References page

All these components must be saved in one document, not as separate documents.

The title page of your paper includes the following information:

• Title of the paper
• Author’s name
• Name of the institution with which the author is affiliated
• Header at the top of the page with the paper title (in capital letters) and the page number (If the title is lengthy, you may use a shortened form of it in the header.)

List the first three elements in the order given in the previous list, centered about one third of the way down from the top of the page. Use the headers and footers tool of your word-processing program to add the header, with the title text at the left and the page number in the upper-right corner. Your title page should look like the following example.

The next page of your paper provides an abstract , or brief summary of your findings. An abstract does not need to be provided in every paper, but an abstract should be used in papers that include a hypothesis. A good abstract is concise—about one hundred fifty to two hundred fifty words—and is written in an objective, impersonal style. Your writing voice will not be as apparent here as in the body of your paper. When writing the abstract, take a just-the-facts approach, and summarize your research question and your findings in a few sentences.

In Chapter 12 “Writing a Research Paper” , you read a paper written by a student named Jorge, who researched the effectiveness of low-carbohydrate diets. Read Jorge’s abstract. Note how it sums up the major ideas in his paper without going into excessive detail.

Write an abstract summarizing your paper. Briefly introduce the topic, state your findings, and sum up what conclusions you can draw from your research. Use the word count feature of your word-processing program to make sure your abstract does not exceed one hundred fifty words.

Depending on your field of study, you may sometimes write research papers that present extensive primary research, such as your own experiment or survey. In your abstract, summarize your research question and your findings, and briefly indicate how your study relates to prior research in the field.

Margins, Pagination, and Headings

APA style requirements also address specific formatting concerns, such as margins, pagination, and heading styles, within the body of the paper. Review the following APA guidelines.

Use these general guidelines to format the paper:

• Set the top, bottom, and side margins of your paper at 1 inch.
• Use double-spaced text throughout your paper.
• Use a standard font, such as Times New Roman or Arial, in a legible size (10- to 12-point).
• Use continuous pagination throughout the paper, including the title page and the references section. Page numbers appear flush right within your header.
• Section headings and subsection headings within the body of your paper use different types of formatting depending on the level of information you are presenting. Additional details from Jorge’s paper are provided.

Begin formatting the final draft of your paper according to APA guidelines. You may work with an existing document or set up a new document if you choose. Include the following:

• Your title page
• The abstract you created in Note 13.8 “Exercise 1”
• Correct headers and page numbers for your title page and abstract

APA style uses section headings to organize information, making it easy for the reader to follow the writer’s train of thought and to know immediately what major topics are covered. Depending on the length and complexity of the paper, its major sections may also be divided into subsections, sub-subsections, and so on. These smaller sections, in turn, use different heading styles to indicate different levels of information. In essence, you are using headings to create a hierarchy of information.

The following heading styles used in APA formatting are listed in order of greatest to least importance:

• Section headings use centered, boldface type. Headings use title case, with important words in the heading capitalized.
• Subsection headings use left-aligned, boldface type. Headings use title case.
• The third level uses left-aligned, indented, boldface type. Headings use a capital letter only for the first word, and they end in a period.
• The fourth level follows the same style used for the previous level, but the headings are boldfaced and italicized.
• The fifth level follows the same style used for the previous level, but the headings are italicized and not boldfaced.

Visually, the hierarchy of information is organized as indicated in Table 13.1 “Section Headings” .

Table 13.1 Section Headings

A college research paper may not use all the heading levels shown in Table 13.1 “Section Headings” , but you are likely to encounter them in academic journal articles that use APA style. For a brief paper, you may find that level 1 headings suffice. Longer or more complex papers may need level 2 headings or other lower-level headings to organize information clearly. Use your outline to craft your major section headings and determine whether any subtopics are substantial enough to require additional levels of headings.

Working with the document you developed in Note 13.11 “Exercise 2” , begin setting up the heading structure of the final draft of your research paper according to APA guidelines. Include your title and at least two to three major section headings, and follow the formatting guidelines provided above. If your major sections should be broken into subsections, add those headings as well. Use your outline to help you.

Because Jorge used only level 1 headings, his Exercise 3 would look like the following:

Citation Guidelines

In-text citations.

Throughout the body of your paper, include a citation whenever you quote or paraphrase material from your research sources. As you learned in Chapter 11 “Writing from Research: What Will I Learn?” , the purpose of citations is twofold: to give credit to others for their ideas and to allow your reader to follow up and learn more about the topic if desired. Your in-text citations provide basic information about your source; each source you cite will have a longer entry in the references section that provides more detailed information.

In-text citations must provide the name of the author or authors and the year the source was published. (When a given source does not list an individual author, you may provide the source title or the name of the organization that published the material instead.) When directly quoting a source, it is also required that you include the page number where the quote appears in your citation.

This information may be included within the sentence or in a parenthetical reference at the end of the sentence, as in these examples.

Epstein (2010) points out that “junk food cannot be considered addictive in the same way that we think of psychoactive drugs as addictive” (p. 137).

Here, the writer names the source author when introducing the quote and provides the publication date in parentheses after the author’s name. The page number appears in parentheses after the closing quotation marks and before the period that ends the sentence.

Addiction researchers caution that “junk food cannot be considered addictive in the same way that we think of psychoactive drugs as addictive” (Epstein, 2010, p. 137).

Here, the writer provides a parenthetical citation at the end of the sentence that includes the author’s name, the year of publication, and the page number separated by commas. Again, the parenthetical citation is placed after the closing quotation marks and before the period at the end of the sentence.

As noted in the book Junk Food, Junk Science (Epstein, 2010, p. 137), “junk food cannot be considered addictive in the same way that we think of psychoactive drugs as addictive.”

Here, the writer chose to mention the source title in the sentence (an optional piece of information to include) and followed the title with a parenthetical citation. Note that the parenthetical citation is placed before the comma that signals the end of the introductory phrase.

David Epstein’s book Junk Food, Junk Science (2010) pointed out that “junk food cannot be considered addictive in the same way that we think of psychoactive drugs as addictive” (p. 137).

Another variation is to introduce the author and the source title in your sentence and include the publication date and page number in parentheses within the sentence or at the end of the sentence. As long as you have included the essential information, you can choose the option that works best for that particular sentence and source.

Citing a book with a single author is usually a straightforward task. Of course, your research may require that you cite many other types of sources, such as books or articles with more than one author or sources with no individual author listed. You may also need to cite sources available in both print and online and nonprint sources, such as websites and personal interviews. Chapter 13 “APA and MLA Documentation and Formatting” , Section 13.2 “Citing and Referencing Techniques” and Section 13.3 “Creating a References Section” provide extensive guidelines for citing a variety of source types.

Writing at Work

APA is just one of several different styles with its own guidelines for documentation, formatting, and language usage. Depending on your field of interest, you may be exposed to additional styles, such as the following:

• MLA style. Determined by the Modern Languages Association and used for papers in literature, languages, and other disciplines in the humanities.
• Chicago style. Outlined in the Chicago Manual of Style and sometimes used for papers in the humanities and the sciences; many professional organizations use this style for publications as well.
• Associated Press (AP) style. Used by professional journalists.

References List

The brief citations included in the body of your paper correspond to the more detailed citations provided at the end of the paper in the references section. In-text citations provide basic information—the author’s name, the publication date, and the page number if necessary—while the references section provides more extensive bibliographical information. Again, this information allows your reader to follow up on the sources you cited and do additional reading about the topic if desired.

The specific format of entries in the list of references varies slightly for different source types, but the entries generally include the following information:

• The name(s) of the author(s) or institution that wrote the source
• The year of publication and, where applicable, the exact date of publication
• The full title of the source
• For books, the city of publication
• For articles or essays, the name of the periodical or book in which the article or essay appears
• For magazine and journal articles, the volume number, issue number, and pages where the article appears
• For sources on the web, the URL where the source is located

The references page is double spaced and lists entries in alphabetical order by the author’s last name. If an entry continues for more than one line, the second line and each subsequent line are indented five spaces. Review the following example. ( Chapter 13 “APA and MLA Documentation and Formatting” , Section 13.3 “Creating a References Section” provides extensive guidelines for formatting reference entries for different types of sources.)

In APA style, book and article titles are formatted in sentence case, not title case. Sentence case means that only the first word is capitalized, along with any proper nouns.

Key Takeaways

• Following proper citation and formatting guidelines helps writers ensure that their work will be taken seriously, give proper credit to other authors for their work, and provide valuable information to readers.
• Working ahead and taking care to cite sources correctly the first time are ways writers can save time during the editing stage of writing a research paper.
• APA papers usually include an abstract that concisely summarizes the paper.
• APA papers use a specific headings structure to provide a clear hierarchy of information.
• In APA papers, in-text citations usually include the name(s) of the author(s) and the year of publication.
• In-text citations correspond to entries in the references section, which provide detailed bibliographical information about a source.

Writing for Success Copyright © 2015 by University of Minnesota is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License , except where otherwise noted.

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How to Create a Market Research Plan

Table of Contents

While having a great idea is an important part of establishing a business, you’ll only get so far without laying the proper groundwork. To help your business take off, not only do you need to size up the competition, but you also need to identify who will buy your product, how much it will cost, the best approach to selling it and how many people will demand it.

To get answers to these questions, you’ll need a market research plan, which you can create yourself or pay a specialist to create for you. Market research plans define an existing problem and/or outline an opportunity. From there, the marketing strategy is broken down task by task. Your plan should include objectives and the methods that you’ll use to achieve those objectives, along with a time frame for completing the work.

What should a market research plan include?

A market research plan should provide a thorough examination of how your product or service will fare in a defined area. It should include:

• An examination of the current marketplace and an analysis of the need for your product or service: To know where you fit in the market, it’s important to have a broad understanding of your industry — covering everything from its annual revenue to the industry standards to the total number of businesses operating within it. Start by gathering statistical data from sources like the U.S. Bureau of Labor Statistics and BMI Research and consider the industry’s market size, potential customer base and how external factors such as laws, technology, world events and socioeconomic changes impact it.
• An assessment of the competition: By analyzing your competitors, you can discover strategies to fill market gaps. This involves identifying well-known competitors and noting trends they employ successfully, scrutinizing customer feedback about businesses in your sector, such as through online reviews, and understanding competitors’ product or service offerings. This knowledge can then guide the refinement of your own products or services to differentiate them from others in the market.
• Data about customers: Identify which segment of potential customers in your industry you can effectively target, considering their demographics — such as age, ethnicity, income and location and psychographics, including beliefs, values and lifestyle. Learn about the challenges your customers face in their daily lives and determine how the features and benefits of your offerings address their needs.
• The direction for your marketing in the upcoming year: Your plan should provide a clear roadmap for your marketing strategies for the next year, focusing on approaches to distinguish your brand from competitors. Develop marketing messages that resonate with and display empathy toward your target market and find ways to address customers’ needs and demonstrate value.
• Goals to be met: Outline goals your business would like to achieve and make these goals clear to all employees on your team. Create goals that are realistic and attainable while also making a meaningful impact on the business’s growth. Consider factors including your target number of products or services, the expected number of units to sell based on market size, target market behavior, pricing for each item and the cost of production and advertising.

How to create your market research plan

Doing business without having a marketing plan is like driving without directions. You may eventually reach your destination, but there will be many costly and time-consuming mistakes made along the way.

Many entrepreneurs mistakenly believe there is a big demand for their service or product but, in reality, there may not be, your prices may be too high or too low or you may be going into a business with so many restrictions that it’s almost impossible to be successful. A market research plan will help you uncover significant issues or roadblocks.

Step 1. Conduct a comprehensive situation analysis.

One of the first steps in constructing your marketing plan is to create a strengths, weaknesses, opportunities and threats (SWOT) analysis , which is used to identify your competition, to know how they operate and then to understand their strengths and weaknesses.

When developing a market research plan, it is essential that you do your homework to determine your possible customer base, to gain knowledge about the competition and to have a solid foundation for your marketing strategy.

Step 2: Develop clear marketing objectives.

In this section, describe the desired outcome for your marketing plan with realistic and attainable objectives, the targets and a clear and concise time frame. The most common way to approach this is with marketing objectives, which may include the total number of customers and the retention rate, the average volume of purchases, total market share and the proportion of your potential market that makes purchases.

Step 3: Make a financial plan.

A financial plan is essentia l for creating a solid marketing plan. The financial plan answers a range of questions that are critical components of your business, such as how much you intend to sell, what will you charge, how much will it cost to deliver your services or produce your products, how much will it cost for your basic operating expenses and how much financing will you need to operate your business.

In your business plan, be sure to describe who you are, what your business will be about, your business goals and what your inspiration was to buy, begin or grow your business.

Step 4: Determine your target audience.

Once you know what makes you stand out from your competitors and how you’ll market yourself, you should decide who to target with all this information. That’s why your market research plan should delineate your target audience. What are their demographics and how will these qualities affect your plan? How do your company’s current products and services affect which consumers you can realistically make customers? Will that change in the future? All of these questions should be answered in your plan.

Step 5: List your research methods.

Rarely does one research avenue make for a comprehensive market research plan. Instead, your plan should indicate several methods that will be used to determine the market share you can realistically obtain. This way, you get as much information as possible from as many sources as possible. The result is a more robust path toward establishing the exact footprint you desire for your company.

A good market research plan involves using more than one type of research to obtain the information you need.

Step 6: Establish a timeline.

With your plan in place, you’ll need to figure out how long your market research process will take. Project management charts are often helpful in this regard as they divide tasks and personnel over a timeframe that you have set. No matter which type of project management chart you use, try to build some flexibility into your timeframe. A two-week buffer toward the home stretch comes in handy when a process scheduled for one week takes two — that buffer will keep you on deadline.

Step 7: Acknowledge ethical concerns.

Market research always presents opportunities for ethical missteps. After all, you’ll need to obtain competitor information and sensitive financial data that may not always be readily available. Your market research plan should thus encourage your team to not take any dicey steps to obtain this information. It may be better to state, “we could not obtain this competitor information,” than to spy on the competitor or pressure their current employees for knowledge. Plus, there’s nothing wrong with simply feeling better about the final state of your plan and how you got it there.

Using a market research firm

If the thought of trying to create your own market research plan seems daunting or too time-consuming, there are plenty of other people willing to do the work for you.

You don’t need to pay thousands of dollars for assistance crafting a market research plan. University business schools often provide free resources that can assist you.

Pros of using a market research firm

As an objective third party, businesses can benefit from a market research firm’s impartial perspective and guidance, helping to shape impactful brand strategies and marketing campaigns. These firms, which can help businesses with everything from their marketing campaigns to brand launches, deliver precise results, drawing on their expertise and experience to provide in-depth insights and solutions tailored specifically to your company’s needs. 

Even more, working with a market research firm can elevate a brand above the competition, as they provide credible and unique research that is highly valued by the media, enhancing brand credibility and potentially increasing website traffic, social media shares and online visibility.

Cons of using a market research firm

Although hiring a firm can provide businesses with tremendous results, certain downsides can lead a business toward the do-it-yourself route. Most notably, market research firms can be a costly expense that some businesses can’t afford. However, businesses that can allocate the funds will likely see a positive return on investment, as they are paying for the expertise and proficiency of seasoned professionals in the field.

Additionally, finding the right market research firm for your business’s needs can take some time — and even longer, ranging from weeks to months, for a market research firm to complete a plan. This lack of immediate results can be detrimental for businesses that don’t have the time to wait. 

Market research firms can charge into the thousands of dollars for a market research plan, but there are ways to get help more affordably, including:

• Outline your plans carefully and spell out objectives.
• Examine as many sources as possible.
• Before paying for any information, check with librarians, small business development centers or market research professors to see if they can help you access market research data for free.
• You may think you’ll need to spend a hefty sum to create a market research plan, but there are plenty of free and low-cost sources available, especially through university business schools that will guide you through the process.

Miranda Fraraccio contributed to this article. 

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Small Business Trends

Guide to how to do marketing research.

Have you ever kicked off an advertising campaign with high hopes, only to be disappointed by the results? Or what about introducing a new product with great fanfare, just to discover the market wasn’t interested? These situations happen in business. And this is where doing marketing research makes a difference.

If you have big goals, market research can help your business make the right moves and avoid wasting time and money on the wrong ones.

Not only that, but marketing research can help you get happier customers. For example, 94% of diners choose a restaurant based on online reviews, one study suggests. Another study found that 82% of customers expect an immediate response on sales or marketing questions. Knowing these kinds of facts can help you put into place the processes and tools to delight the customer and attract new ones.

In this article we define what is marketing research in plain language, including the different types of market research. You will learn fast and easy techniques for how to do marketing research, which techniques work best, and how to take advantage of third-party information that already exists.  The end goal is to find success.

What is Market Research?

Market research is the process of collecting information about target prospects, clients, market size, competitors and more. Businesses use this information to develop products and services, set prices, increase lead flow, boost sales, improve customer satisfaction, and develop marketing and advertising campaigns.

If you take nothing else away from this market research definition, remember one thing: data is the foundation of a company’s marketing strategy. Research is the starting point that guides your marketing in the right direction.

Marketing research prevents you from acting on incorrect assumptions or one-size-fits-all advice, and making costly mistakes. In a world of trial and error, market research achieves more trial with less error.

The Evolution of Marketing Research in the Digital Age

Integrating Digital Data Sources : In today’s digital-driven market, traditional marketing research methods are being complemented with new data sources. Online behavior tracking, social media analytics, and digital footprint analysis provide a wealth of information about consumer preferences and trends.

Understanding how to integrate these digital data sources into traditional research frameworks can offer a more holistic view of the market landscape.

Leveraging Big Data and AI : The advent of big data and artificial intelligence (AI) has transformed marketing research. AI algorithms can process large datasets to uncover patterns and insights that might be invisible to human researchers. Businesses can leverage these tools to predict consumer behavior, personalize marketing strategies, and enhance decision-making processes.

Types of Market Research

Marketers leverage two different types of research:  primary and secondary research. Whether you know the terms or not, you probably are familiar with both.

First, let’s look at primary research. Primary research refers to the process of gathering data that hasn’t been collected yet by another party. In other words, primary information is simply information you uncover and collect yourself.

When people tell you their experience with your business or their level of satisfaction with your product or service — that’s primary information. Primary research includes the following:

Surveys involve asking people questions that they can quickly answer to reveal their opinions, perceptions, attitudes and behaviors.  Companies conduct surveys by mail, on the phone or increasingly today, online. Surveys are one of the most common research methods for a small business.

In Person Research

In-person research involves talking directly with a consumer, potential customers or existing customers — and includes:

• Interviews – These are one-on-one interactions to dive deeply into reasons driving the interviewee’s beliefs. Interviews are relatively inexpensive and can involve simply phoning a customer.
• Focus groups – A focus group gathers together between 5 to 10 people in a group setting to give feedback. Focus groups are expensive and really require an experienced facilitator to get unbiased information.
• Ethnography – Ethnography simply means interactions with others in their natural environment. A common method is “fly on the wall” where a researcher quietly observes someone in a store or using a product. A digital method involves heat maps to test where a visitor’s attention lingers on a web page.

Other Marketing Research

• Diaries – People track their behavior for observation about how they interact with your products or services.
• User testing – Users test and give feedback about how they experience your product or service in real-time. We’ve all seen examples of this on TV commercials: the blind taste testing.

Primary methods like the above have many uses, but small businesses find them invaluable in two situations. First, small businesses use them when trying to uncover the true user experience with their product or service. Second, they use primary methods when they need to understand how their clientele feels about their company.

Next let’s look at secondary research. Secondary research involves using information that has already been collected by another party. Much secondary information is online research and is free or low cost. Examples include:

Government Research

• U.S. Census data (a good place to start is Census Data Gems ).
• Information from government agencies like the Bureau of Labor Statistics, FEMA or the SBA.

Third Party Research

• Research reports (not your own), or information gathered by other companies. Example: a research chart from eMarketer .
• Secondary data from trade associations such as the National Retail Federation. It publishes industry statistics and studies.
• Information provided by specialized digital tools. An example is Google Trends data, showing public search trends.

Combining Qualitative and Quantitative Research

Balancing Depth and Breadth : Effective marketing research often involves a combination of qualitative and quantitative methods. Qualitative research, such as interviews and focus groups, provides depth and context to understand the ‘why’ behind consumer behaviors.

Quantitative research, like surveys and statistical analysis, offers breadth and generalizability to measure trends and patterns across larger populations.

Hybrid Research Models : Embrace hybrid models that blend qualitative and quantitative approaches for a more comprehensive analysis.

For example, a study might begin with qualitative interviews to explore consumer attitudes, followed by a large-scale quantitative survey to validate and quantify these attitudes across a broader audience.

Market Research Examples

Exactly what do you use marketing research for?  There are hundreds of uses. Below are just 15 examples:

• Identify revenue opportunities – Research may reveal customer segments you never considered, or the opportunity to cross sell or up-sell. You can also identify new verticals ripe for expansion.
• Set pricing – Research can reveal whether your prices are high or low compared to the market. Research may show that price increases are justifiable.
• Capitalize on competitor weaknesses – Learn what the market hates about your competition, so you can compare your brand and persuade prospects.
• Identify competitor strengths – Learn what the market likes better about your competitors, so you can meet or beat them.
• Spot trends – Trends may suggest new technologies to adopt.
• improve reputation – Your business may discover a reputation problem from bad online reviews that your team needs to overcome.
• Compose winning marketing messages – Research may reveal which advertising messages appeal to your target market.
• Identify a new offering – Changing habits, tastes and needs may trigger ideas for products or services.
• Delight customers – Customer expectations may be different from what you assume, and research reveals what matters most.
• Demonstrate industry authority – Find out what content your target buyer values and how they want it delivered to them.
• Test concepts – Poll the public as to whether a brand name appeals to them, and test concepts before launch.
• Determine key influencers – Ascertain who holds sway over buyer decisions, so you can connect and leverage influence.
• Elevate digital presence – Assess your visibility in search engines and on social media. Identify opportunities to gain a bigger footprint.
• Identify product features – Research helps guide your development efforts by suggesting the qualitative value proposition at every stage of the product life cycle.
• Improve your website – Collect data about what draws prospects to your website. Identify elements they love, and discover what makes them convert.

How to Do Market Research

Now that we understand the market research meaning, the steps to conduct research are straight forward. Here are seven market research steps to follow:

1. Identify Your Goals

Start with your goals. Write down what market research information you want to gather and how you will use it.  Be specific about the challenges in your business.  A few sample goals include the following:

• Compare competitor prices to see if your business has room to raise prices.
• Increase word of mouth referrals by improving customer service levels.
• Identify your ideal potential customers so you can tailor products and services to meet their needs. Include age, gender, location, income and specific problems your customer wants solved. Create customer personas to guide your sales outreach.
• Isolate the messaging that resonates best for an ad campaign.
• Size the market before developing a new product or starting a new business.

2. Choose a Type of Research 

Choose the type of marketing information needed to meet your goals. Start with these simple steps:

• Primary or secondary? Decide which type will give you the information needed for your goal(s).
• If primary, determine the format. For instance, you could invite current clients to participate in interviews. Ask your social media followers to participate in an online survey. Or try a service like Google Surveys to get responses from consumers and the general public.
• If secondary, determine what sources to investigate. Always check first to see if government research has what you need. Google searches will point you to other secondary information, including industry organizations.

For more, see these 21 market research tools .

3. Conduct the Research

Now it’s time to actually do the research. The best way to know what people are thinking is to ask them directly. In this section we will focus on the main three ways to get customer research: interviews, focus groups and surveys.

Interviewing Customers

Interviewing customers can be done over the phone, in-person or using one of many web-based tools.

Speak to 10 to 15 individuals to make sure that you are getting feedback representative of your target audience. Request 20 to 30 minutes to talk at a mutually convenient time. Be prepared ahead of time with your questions.

Ask respondents if they give you permission to record the interviews so you can refer back later. Alternatively, have someone with you to take notes.

Remember not to coach people or guide them to answers that you want to hear. You want their honest feedback. Do not react to what they say. Your job is to get their thoughts, not correct any assumptions or perceptions you may disagree with.

Holding Focus Groups

A good focus group size is 8 to 10 participants.

Conduct focus groups in-person or online using apps that lend themselves to the purpose. Many local libraries and community centers have rooms that you can use at little or no cost. Trade shows and conferences also offer an opportunity to conduct interviews and focus groups. You can also use online conferencing tools to facilitate this group interaction.

Start off the group with self introductions. Let everyone know that all opinions are valid and there are no incorrect answers. Then guide them through a discussion that you prepare ahead of time.

Limit the session to no more than two hours, or even 90 minutes. This should be plenty of time to get insights, while giving everyone a chance to voice opinions.

Conducting Surveys

Surveys are terrific for gathering customer feedback. Today most customer surveys are done online using a professional survey tool. Simply set up a survey and email a link.

Include questions to gather demographic or firmographic data such as zip code, age, title, gender, industry, purchase frequency, etc. (but skip anything you already know). This helps you analyze the data with specificity.

Then ask your substantive questions.

After collecting the information, take the time to isolate trends and segments. Most survey software today generates beautiful charts and graphs. But you will need to study them and perhaps do deeper analysis than the standard charts provide.

You can also survey non-customers. This option is great if you need industry data or general consumer input. Many survey software packages also provide access to a survey panel of non-customer respondents. You will have to pay for non-customer responses. Survey pricing varies for responses:

• Consumer samples are usually relatively inexpensive, perhaps $1 per response, although the cost will increase the more specific your needs are. Asking consumers over the age of 25 will be one price, for example, while asking men between the ages of 35-44 who have children, will be another price.
• For comparison: Google Surveys start at 10 cents per response for just one question, but that number can go up to $10 per each completed survey if you want 2 to 10 questions. If you want respondents screened for specific audience characteristics it costs more.
• Business-to-business responses are more expensive than consumer responses. It might cost as much as $100 per completed survey from a senior executive.
• If budget is a challenge, see if you can barter with another organization that has a large membership. You can increase the power behind this ‘ask’ if you partner with other businesses such as your vendors to see if they will join you in making this request.

Best Practices

As you begin exploratory research, follow these best practices:

• Pre-test. Do a dry run of a customer interview with someone on your team in role play. For a survey, ask a few colleagues take it as a test. This goes a long way to ensure questions are understandable and that information will be useful.
• Respect respondents’ time. Keep interactions short. For instance, it’s better to do a branched survey where respondents only see relevant questions based on prior responses, rather than forcing them to wade through a dozen irrelevant questions. People lose interest fast when they feel you take too much of their time.
• Use plain language. Use vocabulary respondents recognize. At the same time, tailor your questions to get specific answers. See these 75 market research questions to ask.
• Step into the customer’s shoes. Ask questions that make sense from your customer’s point of view. For instance, instead of asking a technical question about your software configuration process, ask the customer how long it took between opening an account and beginning to use your software.

Time and Skill

Before you begin, map out the research process so you’re clear on the effort, time and money needed. Small businesses tend to greatly underestimate the amount of time required and how much it will distract from other priorities.

Consider also whether you have the skills internally for the research process. For example, do you have the skill to develop a survey, get respondents, and analyze the data in-depth? What about time? A professional researcher may be able to complete the project in a fraction of the time of an unskilled staff member. In the end that may be faster and cost less.

Primary research can take anywhere from 1 to 3 months to complete.

Secondary research goes faster, but do set a time / hours budget.  Remember, it takes time for someone to locate the secondary data, analyze it and compile insights. Establish a certain number of hours per week for secondary sources, and then stick to that schedule. Don’t fall into “rabbit holes,” since there are so many sources.

Embracing Technology in Research Methods

Online Focus Groups and Virtual Interviews : The digital era has enabled virtual research methods. Online focus groups and video conferencing tools allow for remote interviews, making it easier to gather diverse perspectives without geographical constraints. These methods can be particularly valuable when targeting niche markets or global audiences.

Mobile Surveys and Real-Time Feedback : Utilize mobile technology to conduct surveys and collect real-time feedback. Mobile surveys offer convenience to respondents and can increase response rates. Real-time feedback mechanisms, such as in-app surveys or interactive polls on social media, can provide immediate insights into customer experiences and perceptions.

4. Analyze and Summarize

You’ve completed the market research – now what?

This is where good businesses often stumble.  They spend a lot of time doing a survey, for example, but then the survey sits. They do nothing other than look at some charts.

The best data is useless if not analyzed properly. Analyze the data, draw conclusions, and take evidence-based actions. Your research may identify new opportunities, or it may indicate that you should not take actions you were planning to take. Come up with a list of action items based upon the data.

Summarize the results into a report.  A report makes data usable internally. You and your team will forget the details a month later, so you need to be able to refer back to something.

5. Incorporate into Your Marketing Plan

Incorporate the research information into your marketing plan. Here are two examples.

Example 1: Company A used research to successfully adjust its marketing approach for a product launch. Social media research revealed that consumers responded to certain messages and not others. The company tweaked its marketing messaging to better convey the benefits consumers wanted to hear about, not the benefits the company thought were important.

Example 2: Company B conducted focus groups and found that instead of a single target market for the product, the market actually consisted of a few segments, all with different needs. The client was able to change its content marketing plan to address each segment with more meaning, rather than a one-size-fits-all plan.

For more, see these small business marketing ideas and strategies.

6. Adapt Internal Processes

Share the marketing research with your team and seek their ideas. Identify and implement a few actionable steps.

Market research may suggest that your processes and procedures need an overhaul. For instance, you may need to re-imagine your method of handling customer complaints. You may need to turn around reputation problems such as years worth of bad reviews. Or you may need to redesign your products to meet competitor offerings if your current value-add is low. Let’s look at two examples.

Example A: Company Y discovered after a focus group that while some of the services it offered were highly valued, others were not. The company was able to shift efforts and resources to the services customers wanted most.

Example B: Company Z observed a few business customers using its product in their offices, and discovered that customers in certain verticals were using the product in unexpected ways. Company Z was able to get testimonials that specifically mentioned these use cases and saw sales conversions in those verticals grow.

Staying Agile with Ongoing Research

Continuous Market Monitoring : The market is dynamic, and consumer preferences can change rapidly. Implement systems for ongoing market monitoring to stay ahead of trends. This might involve regular social media sentiment analysis, keeping an eye on competitor activities, and tracking industry news.

Feedback Loops and Iterative Learning : Establish feedback loops within your organization where insights from market research continually inform business strategies. Encourage a culture of iterative learning, where marketing initiatives are regularly reviewed and adjusted based on the latest research findings.

We hope this Guide has helped you understand what is market research in business. Most small businesses and startups could achieve greater success if they did simple exploratory research before launching a product or starting a business. Whatever your budget or staff size, research will make your business more proactive and results-oriented, with decisions based on fact, to power your growth.

Image: Depositphotos.com

Statistical surveying (or advertising research) is any arrangement of methods used to accumulate data and better comprehend an organization’s objective market

No it isn’t!

I appreciate you helping me learn the basics of how to do marketing research and I think it’s great that you elaborated on using layman’s language when interacting with your respondents to get specific answers. I agree with what you said about respecting the respondents’ personal time as I feel like this may be something that is easy to overlook. If I was in need of market research myself, I don’t think I would prefer to do it on my own due to its tedious nature. Instead, I would probably look for a quick but reliable service that has a great portfolio and can promise me accurate results.

Hi Angela! Many organizations share your perspective that they prefer to outsource this type of work rather than do it themselves. If you find yourself needing a consultant to do this for you, make sure that in addition to being capable of providing accurate results, they clearly communicate the methodology they would use, why it would be appropriate to go in that direction, and what they would do to not only provide accuracy, but also data that are actionable.

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How to Write a Business Plan in 9 Steps

Starting a business without a business plan is quite possible. But why would you risk that, especially when you are investing thousands of dollars to set up your startup?  

Whether you aim to secure funding, need a roadmap to achieve business objectives, or want to attract the attention of stakeholders—having a well-crafted business plan is like an indispensable asset for your business. 

But writing a business plan is not that easy. One needs strategic direction, a bit of writing flair, and a thorough understanding of what each section should include. 

A lot for someone who has never written a business plan earlier in their life. 

Well, having a useful guide like this blogpost can nudge you in the right direction and teach you how to write for different business plan components. 

Ready to get started? Let’s dive right in. 

9 Steps to Write Your Business Plan  

From creating your executive summary to conducting market research and preparing your financial plan—here is a step-by-step guide to writing your business plan. 

• Draft your executive summary

An executive summary is the first and most important section of your business plan. 

It is after this section that an investor will decide whether or not to proceed with your business proposal. 

Begin this section by introducing your business idea and then summarize the key essentials of a plan in a compelling narrative. Highlight information relating to the market, product, team, competitors, financials, and business goals to help investors get a macro but thorough perspective. 

Also, write your executive summary only after you are done writing for the other aspects of a business plan. This will help you distill essential information and present it appropriately. 

• Write a brief company overview

A company overview is a detailed summary describing your business and its future objectives. It offers you a chance to tell your business story to the readers, so make sure it is engaging. 

Begin this section by detailing your company’s information like its name, location, ownership, and business structure.

Clarify if the business would be registered as a sole proprietorship, partnership, LLC, or corporation. Also, introduce the partners if any, and discuss their profit-sharing ratio. 

In this section, you will also highlight the company’s vision statement, its business objectives, and future goals after evaluating your business fundamentals and core values. 

Lastly, don’t forget to talk about the milestones you have already achieved and the history of the company, if it has been operating for a long time. 

• Define your market research

Market research and analysis is a crucial part of your business plan. It shows that you have a thorough understanding of the market and the industry you are about to enter. 

In this section, you should talk about the market size and state of market in the current economy. Elaborate further by defining your Total Addressable Market (TAM), Serviceable Addressable Market (SAM), and Serviceable Obtainable Market (SOM) to help lenders get distilled clarity. 

Additionally, give an overview of your target market and create a buyer’s persona to show what your ideal customer looks like. Talk about the psychographic and demographic details of your ideal customer, i.e. age, gender, income, interests, pain points, behavioral pattern, etc. 

This is essential so that you can create strategies effective for your target market. 

Lastly, include details about the emerging trends in your industry and show how your product fits perfectly within that market. 

• Conduct competitor’s analysis

Competitor analysis is an aspect of market research that deeply studies the competitive landscape of your business. 

In this section of your business plan, you will identify your direct and indirect competition and analyze them on grounds of price, features, and target market. 

Such analysis will help you draw your competitive edge in the market. Not only that, it will show the lenders that competition will not come in the way of your business achieving its goals.   

• Describe your products and services

This section of your business plan explores your product and service offerings in great detail. 

Here, you will list down all the products and services that will bring money to your business. This includes all sorts of primary and secondary products/ services that are available for sale. 

For instance, if you are planning to start an online pet store, talk about all sorts of products, brands, and pet needs you will be catering to. Also, include the list of services like pet grooming, vet consultation, puppy training, and others you would be offering on your platform. 

When you list down the products also add a brief overview of those products and the prices to give lenders a thorough understanding. 

Instead of making this section purely textual, add infographics and HD images to it engaging and informative. 

• Explain your operational plan

This section of your business plan shows how you are going to run the business and turn the idea into a reality. 

It includes a detailed breakdown of each business procedure, right from the client acquisition, to training protocols, quality control practices, and everything else. 

It’s important that you take time and work on your operations plan as it most often works as a guidebook for running a business. 

Now if you are wondering what to include in your operations plan, here are a few things it must definitely have: 

• Standard operating procedures for running different business activities. 
• Logistics and distribution of products through different life cycles. 
• Production workflow, if applicable. 
• Details of supply chain like vendors and agreements. 
• Details about the physical location of your business, its dimensions, agreements, etc. 
• Equipment and technologies to perform everyday business activities and their details. 
• Staff and hiring plan and an understanding of who will perform what tasks. 

Also, include your long-term plans and show how you plan to reach there with streamlined operations. 

Again, try to add infographics, charts, and diagrams wherever possible to make this section easily absorbable for the readers.  

• Outline your marketing and sales strategies

The marketing and sales section of your business plan offers an in-depth overview of your sales and marketing strategies. 

In this section, you will talk about your sales goals, forecasts, and methods to achieve those sales goals. Explain your plans to attract new customers and retain existing clients and discuss your sales strategy in detail.

Further, describe your marketing plan, budget, and methods to track the progress of different marketing activities. 

Dive into detail and explain how you will implement different marketing strategies like print media, pay-per-click, email marketing, social media marketing, events/ launch, and others. 

Overall, offer an overview of your strategies to achieve the most important objective of your business, sales. 

• Introduce your management team

Lenders and investors want to know if you have the right people on the team to pull off your business idea. Well, this is your chance to tell them about solid people on your team. 

Introduce the CEO and members of managerial positions in this section. Talk about their experience, expertise, skill sets, achievements, and how they make the right fit for your business. 

Don’t you worry about bragging. This is absolutely the right time to brag about your star team. 

Further, introduce people at the middle and lower levels and explain the organizational hierarchy in your business through a diagram. Also, add the approximate salaries of the people to give the readers a more nuanced understanding.  

• Offer detailed financial forecasts

This is the most critical part of your business plan, especially if you are planning to seek funding from investors. 

Now, there are many things you can include in your financial plan. However, if there are 3 quintessential it must include, those are: 

• Income Statement
• Balance Sheet 
• Cash Flow Statement

While making the financial plan, include predictions and forecasts for up to 3-5 years so that investors can gauge the viability and feasibility of your business idea. 

Apart from these key statements, you can also include figures for start-up costs, the cost of goods sold (COGS), revenue forecasts, and break-even analysis in this section. 

Lastly, ensure that you add visual graphs, charts, and diagrams to make your finances easy to grasp and understand.

Let us now see if there is a way to write your business plan effectively without much effort.  

How does AI help in writing your Business Plan?

Writing a business plan from scratch without any assistance, template, or structure can be time-consuming. 

However, with AI making the rounds, it is easier than ever to perform creative and repetitive tasks, efficiently. Especially for someone who finds it difficult to transform their ideas into words, AI can make the task of writing a business plan much easier. 

Now, generative AI tools like Chat GPT and Bard can help you write the contents of your plan. However, they lack the understanding of specific nuances that a business plan must include. 

Using an AI business plan builder instead can be more effective as it structures and plans the contents specifically suited for a business plan. 

All you need to do is answer the questions relating to your business and let AI create a unique business ps easy to get a headstart and then make essential changes thereafter using AI assistance. 

AI will not only make the process less time-consuming, but it will also help in increasing the effectiveness of your business plan by working strategically on the content and structure. 

Business plans are quintessential for any business. Whether you are starting a new venture, expanding the current one, or seeking investment for your startup—having a solid business plan will give you a headstart in the right direction. 

Follow this step-by-step guide or get yourself an AI plan builder to write your business plan in no time. Get started now. 

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