A marketing research report is a detailed statement issued by a company’s marketing division that analyses current market dynamics in a specific sector and forecasts future trends in the market using both measurable and non-quantifiable data. We will attempt to illustrate how to produce a marketing research report in this post.

What Is the Best Way to Write a Marketing Research Report?

Carry out a thorough market analysis

The first stage in producing a marketing research report is to conduct a market survey. A marketing survey necessitates the accumulation of both quantifiable and non-quantifiable statistics from a sample group of customers who may be picked at random or meticulously based on specific corporate objectives.

Make sure you know what you want from your research.

Surveys might vary from one another in terms of their research goals. For example, some surveys are product-focused, customer-focused, or brand-focused. For example, studies such as brand equity research, brand name analysis, ad monitoring, and commercial eye monitoring are conducted to test the association of a business with a set of customers. On the other hand, product-based studies comprise demand estimates, distribution network audits, and market testing. Furthermore, there’s also a subset of survey methods conducted solely to provide information about client behaviour.

Conduct a situational analysis.

The marketer must next survey the firm and analyse its relative position after gathering information from customers. Two forms of analysis are required from a marketing researcher. First, internal and external analyses are conducted utilising marketing methodologies such as PESTEL, SWOT, and Porter’s Five Forces Model. These tools assist businesses in determining their competitive edge within a specific industry; for instance, we have conducted the SWOT and PESTEL study for Marks and Spencer. It is international clothes, gourmet food, and homecare business headquarters in Westminster.

PESTEL Analysis

• Political: 

Marks and Spencer have been embroiled in political controversies in recent years. Marks and Spencer have been accused of being pro-Zionist by pro-Palestinian organisations.

• Economic:

Profitability was pushed to unsustainable levels, and the corporation relied heavily on British supply, unlike its competitors, who relied on low-cost nations.

• Social:

The firm follows fairtrade and environmentally sustainable policies. It’s also been linked to charity causes like breast cancer.

• Technological:

As part of their production process innovation, Marks & Spencer discontinued the St. Michael branding in 2000 and substituted it with the Marks and Spencer name.

• Ethical: 

Marks and Spencer, for example, has a policy that allows a Muslim employee to refuse to serve a guy who consumes pork and alcohol.

SWOT Analysis

• Strengths: Over a century of brand recognition, strong reputation, and high-quality items in gourmet foods, clothes, and household goods are just a few of the strengths.
• Weaknesses: Marks and Spencer have flaws in several areas. It is a pricey brand that is reliant on British components. Furthermore, it struggles to appeal to a younger audience and misses putting on the 21st-century fashions and trends.
• Opportunities: It needs to take advantage of economic prospects in other nations. The brand has approximately 800 outlets in the United Kingdom and 300 outlets in 40 other countries. Yet, the brand’s distribution system must be greatly improved.
• Threats: Tesco, Debenhams, and Asos rule the commercial sector in the United Kingdom. Another huge threat is online buying.

Using the 4 Ps of Marketing (Product, Price, Promotion, and Place), build an efficient marketing strategy.

An efficient marketing strategy aids in the development of creative regulations about the product, its price, the locations where the product must be marketed, and the promotion strategies utilised. For example, it is a hypothetical marketing mix for a sugar-free chocolate bar that Nestle is releasing in Europe.

• Product: Kit Kat is a bar of four-fingered chocolate with a strong brand appeal. Altering the product itself might be dangerous. It is recommended that the sugar-free variant be marketed alongside the existing version rather than as a substitute.
• Price: The original product has a very low price. It is recommended that the sugar-free variant not be costlier than the original, as this may deter potential purchasers.
• Place: It is recommended that the new product be offered at various locations, including newsstands and cigarette sellers, in addition to supermarkets.
• Promotion: Because customers identify Kit Kat with the classic tagline “have a break, have a Kit Kat,” marketers do not need to modify the catchphrase, but they can add the extra aspect of being nutritious and sugar-free.

The important factors to keep in mind while creating a marketing research report were discussed above. Here’s a basic rundown on how to get started:

• To gather information, do a market survey.
• Next, make a situational analysis of the firm using the data.
• PESTEL, SWOT, or Porter’s Five are some of the tools you can use.
• Finish with a marketing research report that includes your marketing strategy ideas.

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