Once you decide on a certain product or service, the next step is convincing people why it is a great idea and what will make it successful. This is where a marketing research report comes in. It is a necessary piece of content that gives details of the product or service itself and the brand, as well as the target market. The aim of the report is to get approval for the product or service in question.
Needless to say, a well-written research report is a must. Here’s a comprehensive guide on how to write a marketing research report. Read on.
How do you write a good research paper? A proper outline and attention to detail.
Here is a basic guide to writing your market research paper. You may need to add a step or two based on the kind of product/service you're writing for, but nearly all marketing research reports are based on the following lineup.
The research is the crucial part of the marketing research report and the whole reason you're writing it. You need adequate, accurate, and relevant data to create a report that convinces the reader why your suggested product or service will do well in the market.
There are two ways of collecting data to write a marketing research report. A concrete report comprises both.
This is first-hand research; all the facts you draw come directly from the source. Effective methods of conducting marketing research first-hand include:
1. Questionnaires and pool surveys completed by the target audience of your product or service. These should ideally include both open-ended and close-ended Q&As.
2. Interviews with the audience, with questions such as their preferences regarding the features, availability, and price of the product
3. Primary research for products may also involve visiting the markets and testing competitor products/services for yourself and making observations.
4. Focus groups are quite effective when it comes to market research for any kind of product or service. An open discussion about the product and service can help you get more unfiltered information about the customers and the market in general.
Creating a market research report happens to be about endless reading too. All the research that has already been done by someone—that you refer to make your case about the product/service—is a part of secondary research.
1. Books, reports, articles, and other types of literary works are included in secondary market research. Make sure to check dates to assess relevancy.
2. Turn to research agencies’ websites if you want your data and references to hold more weight. Popular agencies include Nielsen, Gartner, Forrester, etc. (note that much of this research data is available to purchase and not free to use)
3. Finally, secondary data includes in-house data. Use any and all relevant information about customer buying patterns and market conditions that you already have available.
Will your product fare well based on current market trends and consumer behavior?
Do your products/services match the preferences of the target customer (visual appeal, usefulness, price, etc)?
Does your market research take into account competitor products/services and how they will affect yours?
All these questions, and more, should be addressed in the data you compile when writing a marketing research report. When it comes to primary and secondary research, you will find yourself facing the challenge of adding/deducting information to make your research report specific. Make sure everything you keep is applicable to your target audience, market, competitors, and of course, the brand itself.
An outline keeps you from facing a roadblock on your way to creating a kickass marketing research report! When you are well aware of the next step since you have a detailed plan for your research paper, you will be able to complete each stage of the report efficiently and with little to no chances of repetitions and fluff data.
How to prepare market research report according to the proper structure? A typical marketing research report consists of:
1. Introduction—to write a marketing research report, introduce the product or service and the brand it belongs to.
2. Following that is the background—which usually consists of the purpose or reason behind the chosen subject of the research.
3. The research methodology is a summarization of your entire research process (both primary and secondary research).
4. Next, the executive summary rapidly acquaints its readers with everything that has happened until now (the highlights of the research).
5. Results present the facts, such as the financial, societal, economic, and personal aspects of the customer and market, and the brand if it chooses to launch the product/service.
6. The conclusion of your report is a brief discussion of the findings and your take on the possible outcome of the product or service once it is launched to the masses.
7. Your conclusion to write a marketing research report includes recommendations (we’ll go through this in detail below).
The final part of writing your marketing research report is the references section. Every source, direct or indirect, you referred to in order to complete your marketing research report goes in this section.
The proper method to make this section is to tag a reference by number (English or Roman numbers) every time you use one. The links and names, in the proper numerical order, go to the end. Double-check to match reference data to tag numbers.
What makes a marketing research report stand out from the rest, compels the reader to turn the pages with more interest, and makes it more convincing?
Aside from solid data and writing, it’s the visual content that matters. Graphs, tables, charts, and similar graphical content not only support your analysis but also add diversity to the layout of the report. Of course, visuals are effective only if they are easy to understand by the reader.
And once again, don’t forget to add reference tags to your visual data too!
How to make a market research report that has the maximum impact? The marketing research report is a means to present your readers with facts and figures. But there is an element of conviction too, without which your report has little impact. When you reach the conclusion of your report, give actionable recommendations for marketing the product or service.
Refer to the facts to support your argument to write a marketing research report well. And don’t forget to add in your own personal experience and opinions. A convincing set of recommendations help facilitate decision-making.
Still not sure how to write a marketing research report? At Studious, we excel in various types of report writing, including market research reports. With professional academic writers from the field of marketing on our team, we can help you create your report.
Whether you need current marketing research paper writing tips, guidance putting together a proper outline, a way to convert gathered data into a reader-friendly format, or proofreading support to make a great impression on your brand's partners and shareholders—Studious is the service you turn to!
Reach out to us today. We have a ton of writing tips for students and professionals too. We’ll get started on helping you put together a fantastic market research report!
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