While marketing research proposals are often geared towards the gathering of data for the purposes of marketing a particular product or service, a market research proposal aims to gather detailed information about a market’s size and trends
Market Research Proposal Template
[RESEARCH PROJECT TITLE]
Prepared By [NAME] of [COMPANY]
The market research project, entitled [RESEARCH PROJECT TITLE] hopes to discover more information regarding market trends in [SPECIFIC AREA]. The following summary will give an overview of the causes, processes, and possible effects of the market research proposal, detailed below.
PandaTip: This section will summarize the entire project to be outlined below. In this section, give a brief overview of the purpose of the project as well as the intended outcome. Provide reasoning for the need of this specific market research and let the reader know what contributions this project will make to the field. You can use this Summary section to discuss who called for the project if there was a specific impetus requiring this research.
The proposed market research project contains the following objectives:
PandaTip: In this section, discuss in detail the purpose of the project. Show why there is a specific need for this research. Describe the goals which you hope to achieve with this project.
3. EXISTING KNOWLEDGE
PandaTip: This section should focus in depth on the background circumstances which indicate a need for the specific market research project proposed. You will address the current body of knowledge concerning the topic of research. Here you will bring forth information from existing sources regarding the specific topic to be researched. It is great to provide cited sources, graphs, charts, and statistics. You will use this section to demonstrate that you know a great deal about the market you will be researching, but you will also show the holes in the current knowledge. You can then demonstrate the specific need for your proposed research plan, and how this market research plan will fill these holes and contribute to the knowledge of this subject.
4. INTENDED OUTCOMES
PandaTip: Similar to a hypothesis, you can include in this section what you believe will be the likely outcomes of your research, and/or what you hope to learn from the research.
5. TARGET DEMOGRAPHICS
PandaTip: This is possibly the most important section in this proposal, as you will provide information on what part or parts of “the market” you will be researching. Be very detailed in this section, addressing not only the exact demographic regions your research will cover, but how you will ensure that you are reaching the proper demographics.
6. DATA COLLECTION
Our methods of data collection will be best suited to the project at hand. Research methods will include:
Collection of social media data
Surveys via the Internet, phone, or email
Long range in-home consumer tests
Distribution of samples
In person promotionals
PandaTip: This section is also a vital one in which to be extremely detailed and clear. Here you the will thoroughly describe all data collection methods to be utilized in your market research and how they will be carried out. Use specifics and consider potential questions. How will you maintain accuracy of data? How will you approach potential survey or research candidates? Will these participants be paid for their time? At what times of day will you make phone calls? In what ways will you ensure an accurate data sample? The more information you can provide in this section, the better.
7. RESEARCH METHODOLOGY
PandaTip: Use this section to discuss the strengths and possible limitations of your research methods. Give an overall blueprint for your methodology in approaching research data. Describe the implications of each method of data collection, and explain the methodology you will use to interpret the data. Discuss the means of evaluating the collected data and how you will account for errors, holes in data, or inaccuracies.
PandaTip: Provide a timeline for the completion of the project, including data collection times, and allotted time for research analysis and conclusions.
Task 1 ([DATE] [TIME])
Task 2 ([DATE] [TIME])
Task 3 ([DATE] [TIME])
9. PROPOSED BUDGET
PandaTip: Provide an overall budget for the proposed project. Make sure to include all possible cost considerations. You can provide a breakdown of those here. Don’t forget budgets for sections such as Participant Reimbursement, funds for documents, rental space, etc.
10. ETHICAL CONSIDERATIONS
PandaTip: Ethical considerations are vastly important in market research. Using this section, demonstrate how the project will adhere to an ethical code in method and practice. Include waivers or documents you plan to provide to research participants, if applicable. Among other possibilities, address factors such as confidentiality, data security, privacy, and consent of research participants.
11. FURTHER OUTCOMES
PandaTip: This section can serve as a conclusion for the market research proposal. You can add ways in which this market research will provide further benefits or include unique applications of the potential results.