Steps of doing market research

Step 1: identify problems—-evaluation of cost and value of research

Step 2: Define objective—review of literature regarding the problem

Step 3: Collect the data—using data collection technique such as sample design; sample survey, random sampling, convenience sampling, quota sampling etc.

Step 4: Analyze and interpret the data steps—-using test of hypothesis using different statistical tests.

Step 5: Draw conclusion and fact and prepare research report.