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Market Research Proposal Template

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Title of the research

Prepared for: [Client.Company]

Prepared by: [Sender.FirstName] [Sender.LastName] [Sender.Company]

What is a market research proposal? A market research proposal is a document that sells your services to potential clients by showing them what they can accomplish by hiring you to complete their project or research study. It includes a summary, objectives, existing knowledge, intended outcomes, target demographics, data collection methods, a detailed research methodology, a project timeline, proposed budget, ethical considerations, and further outcomes.

Through this market research project, [research title] , we aim to provide more information for [client] regarding market trends in the area. The following summary will give an overview of the causes, processes, and possible effects of the market research proposal detailed below.

Based on our conversation with [Client First Name] with [Client Company] , we know that your goals for this research include [objective] and [objective] We will use a variety of qualitative and quantitative processes to collect and analyze the latest market data. This process will allow you to assess the potential market for your new product and how best to advertise it.

The primary client objectives for this research involve:

• Defining the target market for [Client Company] ’s new product
• Developing the marketing strategies for this project
• Defining the marketing objectives for each individual marketing strategy

2. Objectives

The overall purpose of this market research study is to develop a marketing strategy for [Client Company] ’s newest product. Specific objectives to be addressed as a result of the study are:

• Determine which features are most important to the target market to develop marketing strategies that communicate these benefits to clients.
• Determine brand awareness for existing [Client Company] products, creating a better understanding of the existing customer pool for your new product.
• Understand messaging preferences for target customers and what triggers them to buy.
• Create marketing objectives for the new product.

3. Existing knowledge

Based on our initial prospecting call with [Client First Name] at [Client Company Name] , we know that this product will complement an existing product line. This line’s most successful target market is women between the ages of 20 and 40 with an annual household income between $50,000 and $75,000.

Other companies in this industry have successfully launched similar products that are currently selling well with your target demographic. Last year [Client Industry] revenues topped [$dollar amount] .

By researching what features clients most desire in [Client Company] ’s new product, you will have a better understanding of their triggers. You can tailor your marketing strategy to highlight these features and tell the story of how they benefit target customers, capture new customers and build market share.

4. Intended outcomes

Based on our experience, we believe that the study will allow [Client Company] to:

• Gain an understanding of existing brand awareness among the target audience
• Gain an understanding of how the new product meets client needs
• Gain an understanding of how much target customers are willing to pay for the new product
• Identify any potential competitors already on the market

You can use these results to tailor your marketing messages and chosen marketing channels to better target your desired market. By better understanding how your product meets customer needs, you can develop ad strategies to communicate its benefits.

5. Target demographics

Our research process will begin in-house with [Client Company] ’s marketing team. We will evaluate annual reports, sales reports, research and development reports, and other existing data to confirm that our target market is correct.

Based on our initial call and background research, this study will target 200 individuals from households of different sizes within your service area. From our initial research, we have determined that this study will likely target women between the ages of 20 and 40 with an annual income of between $35,000 and $100,000, but specifics will be determined following interviews with [Client Company] . Focused research methodologies will be used to determine what features of the new product they find most beneficial as well as their current level of awareness of [Client Company] and their preferred marketing channels.

6. Data collection

To meet the objectives of the project, we will perform the following data collection methods. Data collection methods will be suited to the project at hand and will include:

• Focus groups
• Collection of social media data
• Surveys via the Internet, phone, or email
• Intercept surveys
• Client interviews
• Mystery shopping
• Long-range, in-home consumer tests
• Distribution of samples
• In-person promotions

Focus groups are a proven method for gathering data from your target sample. We will conduct up to five focus group meetings consisting of no more than 10 participants. In our experience, smaller groups allow us to collect data from more participants, and they are easier to control.

Each focus group will last for about an hour, and participants will receive a $5 gift card for their time. Focus groups will be conducted in our conference rooms.

We will also conduct a randomly distributed mail survey to collect data from a representative sample within your service area. The survey will also be made available online. Customers who receive the mail survey will be given an access code to take the survey online, and their responses will be kept separate from general online responses to maintain a random sample.

To capture additional responses, we will display QR codes in targeted locations to promote the online survey. We suggest offering an incentive to people who take the survey such as an entry to a prize drawing or a coupon from [Client Company] .

Along with focus groups and surveys, we recommend conducting intercept polls of people in the desired target market shopping near retail chains that currently carry [Client Company] ’s products.

7. Approach

This research study will include a blend of qualitative and quantitative research methods, primarily utilizing the data collection methods listed above. Since your objectives include [objective] our research methods have been tailored to reach your desired demographics. In our previous experience, we have found that this demographic responds well to our proposed methodology.

The study will provide beneficial data to your company by focusing on the following key topics:

• Objective focus area 1
• Objective focus area 2
• Objective focus area 3

Potential limitations to the study methods include survey fatigue. Most companies include customer satisfaction surveys at every customer touchpoint, and people are less receptive to taking a survey. This has made it more difficult to capture user opinions using traditional survey methods.

To counteract survey fatigue, we will supplement survey data with a mix of qualitative and quantitative research. We will gather information from industry reports, online interactions, social media metrics, and in-person research to generate accurate and useful data.

To reach younger members of your target demographic, we propose offering digital engagement tools including livestream question-and-answer sessions and a dedicated social media page on which they can submit feedback. We can also set up a project-specific website to conduct user engagement. Our tools allow us to see the IP addresses of each user, so we exclude fake or irrelevant responses.

8. Reporting

Our project manager will keep in touch with [Client Company] regularly throughout the project. We will conduct weekly progress meetings via phone or video conferencing. At these meetings, we will discuss completed tasks, gather any outstanding data, and discuss the next steps in the process.

Written reports will be provided at the end of each task detailing the research methodology and the outcomes of each phase of the project. At the end of the project, a detailed report will be submitted containing a summary of the project and detailed results. We will submit the draft report to your project manager in Google Docs for any edits. Once the project is completed, we can present the report to your internal project team so they can best understand the results.

We will provide a printed copy and a PDF of the final report.

9. Timeline

Based on our call with [First Name] at [Client Company] , we know that you would like this study to be completed by the end of September. Since you plan on using the results to develop your marketing budget for the next fiscal year, we will complete your project within your desired time frame.

The following timeline details data collection times, the specific period of research analysis and the date of final deliverables. ‌‌We have developed this schedule based on our understanding of your needs, but the final timeline will be discussed during project kick off.

Task 1 Task description

Task 2 Task description

Task 3 Task description

10. Proposed budget

Task 1 [Cost] Description

Task 2 [Cost]

Task 3 [Cost]

‌‌Final report [Cost]

Reimbursable expenses [Cost]

Total [Cost]

11. Ethical considerations

[Company name] follows all ethical considerations regarding market research and test subjects. Each participant will be told that their participation in this research is voluntary, and they will be told how we plan on using their data. We will provide them with a form explaining this information and assuring them that their data will remain confidential.

Each participant will sign a form stating that they understand these terms. To protect each participant, we will not collect any personal data other than standard demographic information that can be used to inform the study.

If any additional data is collected, we will not sell this information to a third party or use it in any other research studies. It will be collected solely for the purposes of this market research project.

12. Further outcomes

This market research study will give [Client Company] a better understanding of your target market. It will provide insight into what your clients expect from your new product and how to best market it to members of your target demographic.

The study may also highlight other data including existing brand awareness and brand perceptions you can use to further tailor your ads.

13. About us

Our company was founded by market research experts with [XX] years of experience conducting similar studies. We use proven methodologies to collect data and distill it into easily digestible reports. We encourage our employees to stay up-to-date on the latest research techniques and analysis software.

14. Project team

Team Member

Bio – [Project Manager Name] has [XX] years of experience managing research studies for clients in many industries. She has a Master’s Degree in Market Research from [University] and is a Certified Research Expert.

Her experience includes similar studies in the industry which her client used to boost their market share by %. She is a well-known speaker at industry conferences and is well versed in the latest data analytics software.

Bio – [Team Member Name] is a data analyst with [XX] years of experience. He has worked on [XX] projects in [industry] and is a Certified Research Analyst. He will assist with data collection and analysis and provide technical support for all online components of this research study.

15. Previous successes

[Example Company] used our market research results to improve their understanding of client needs and used the information to develop a new marketing strategy. As a result, they achieved a 25% growth in revenue and reduced inventory backlog by 30%.

[Client Name]

[Testimonial]

16. Acceptance and terms and conditions

Care to rate this template?

Your rating will help others.

Thanks for your rate!

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How to Create a Market Research Proposal (+Template)

Continuing the market research series, in this article, we’ll discuss what a market research proposal is and how to create one.

To recap, what we’ve covered so far in the series, we’ve talked about what market research is, the different types of market research you need to do to grow your business, and the benefits of conducting market research .

What is A Market Research Proposal

Conducting market research is expensive, and if you work in a large organization, then you would need to justify such expenses.

Before conducting your research you’d need to shed some light on past data about your market, gaps in the data, and why new research is necessary.

This is where a Market Research Proposal come in to play.

Typically, a research proposal is a document proposing a research project, usually, these proposals are done by a scientist or an academic. 

The proposals are then evaluated on the cost and potential impact of the proposed research, and on the soundness of the proposed plan for carrying it out. Research proposals generally address several key points:

• What research question(s) will be addressed, and how they will be addressed
• How much time and expense will be required for the research
• What prior research has been done on the topic
• How the results of the research will be evaluated
• How the research will benefit the sponsoring organization and other parties involved

The same principles apply here, only that your business market environment is what is being researched, which is your target market.

A market research proposal is a document that details the what, the where, the when and the how of market research and the information and costs associated with it.

If this sounds complicated, then here’s what you need to know about a market proposal. It addresses:

• Why market research is necessary and what you aim to gain from the research
• What resources are required for the research
• Past research done on your market
• How the data from this market research will be collected, stored and used
• How the research will benefit your business

Keep in mind that at this point you are not conducting the research yet, you are simply providing a rationale behind why market research is necessary.

In the next article in this “Market Research” series, we will discuss the process of conducting market research, but for now, we need to provide a compelling document on why, how, when and where the research will be conducted.

11 Steps to Create A Market Research Proposal

Now that you know what a market research proposal is, it’s time to create one. There are 11 steps to create a sound and compelling market research proposal

1. Market Research Proposal Summary

Start your proposal by briefly explaining the purpose of the market research and why it is required. Also, give an overview of what the desired outcome of the market research is.

If your business is interested in pouring resources into an in-depth market research then surely, there is something you hope to gain from it.

Remember to provide reasoning for the need of this specific market research and let whoever is reading this, such as the CEO, COO. know what contributions this research will make to the company.

TEMPLATE TO USE:

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.

2. Research Objectives

In this section of your proposal give full details about what problem has been identified that requires market research to be conducted. I.e. Show why there is a specific need for this research in the first place.

Explain what the market research results will be used for and how they will help achieve the overall goals. Describe the goals which you hope to achieve with this project.

The proposed market research project contains the following objectives:

• Objective one
• Objective two

3. Background Information on Past Market Research

Odds are you’re not the first person/company to conduct research on your market. This means that there is existing information on your market. However, this knowledge might be outdated, or might not provide the data your business needs.

So, in this section explain what information already exists on this topic and what is already known. Also, highlight the gaps in knowledge that the market research will hopefully fill.

Here you will show 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 show that you know a great deal about the market you will be researching, but you also need to 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. Market Research Proposal Hypothesis

If your business needs to conduct market research, then you probably have a few ideas of what you hope to get or learn from the research.

In this section describe what you believed to be the likely outcome of the market research and what you hope to learn.

5. Research Target Audience

Your business doesn’t target everyone, and odds are your business targets different audience types. So who is this research targeted at?

This is a very important part of your proposal and you need to be as detailed as possible about the target audience or audiences you will be researching.

Also, describe how you will source this target audience and how you will ensure they meet the correct criteria.

6. Data Collection of Market Research

Time to get to the good stuff. In this part of your proposal, you MUST detail all the data collection methods that will be used during the market research and, how they will be carried out. 

You MUST also explain how the accuracy of data will be maintained, how potential candidates for the research will be approached and, if applicable, how they will be reimbursed for their time and contribution.

Use specifics and consider potential questions such as.

• How will you maintain the 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.

Our methods of data collection will be best suited to the project at hand. Research methods will include:

• Focus groups
• Collection of social media data
• Surveys via the Internet, phone, or email
• Long range in-home consumer tests
• Distribution of samples
• In person promotionals

These individuals will be selected [HOW THEY ARE SELECTED] to ensure an appropriately constituted pool of data from which we can infer accurate insights and trends.

The pool itself comprises of individuals who have expressed to us an interest in participating in such surveys, and they will be compensated by [METHOD OF COMPENSATION]….

7. Research and Analysis Methodology

In this section of your proposal, you are to discuss the strengths and possible limitations of your research methods. 

Provide an overall blueprint for your methodology in approaching research data, and describe the implications of each method of data collection, and explain the methods you will use to interpret the data. 

Lastly, discuss the means of evaluating the collected data and how you will account for errors, holes in data, or inaccuracies.

8. Ethics to be Followed During Research

You’re almost done with your proposal, but there are still a few important details that need to be included. 

Explain how the market research will adhere to ethical codes by thinking about how issues such as participant confidentiality, data security, privacy, and consent of research participants will be addressed.

Include waivers or documents you plan to provide to research participants, if applicable

9. Market Research Timeline

In this section, provide a detailed timeline of when the research needs to begin and when a full report is required, ensure sufficient and realistic time for both data collection and data analysis are considered.

Market Research Timeline

• Task 1 ([DATE] [TIME])
• Task 2 ([DATE] [TIME])
• Task 3 ([DATE] [TIME])

10. Market Research Budget

We’re almost done with our proposal, but it’s time to include arguably the most important section. After all, if your company does not have the funds and resources then there would be no research in the first place.

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.

11. Conclusion

This is the last part of your market research proposal. You can add ways in which this market research will provide further benefits or include unique applications of the potential results.

Now that you know the market research proposal process and the importance of market research, in the next article will discuss the actual market research process.

Comment with any questions you have about Market Research Proposals and I will get back to you ASAP.

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Research Proposal Example/Sample

Full Walkthrough + Free Proposal Template

In this video, we walk you through two successful (approved) research proposals , one for a Master’s-level project, and one for a PhD-level dissertation. We also start off by unpacking our free research proposal template and discussing the four core sections of a research proposal, so that you have a clear understanding of the basics before diving into the actual proposals.

• Research proposal example/sample – Master’s-level (PDF/Word)
• Research proposal example/sample – PhD-level (PDF/Word)
• Proposal template (Fully editable) 

If you’re working on a research proposal for a dissertation or thesis, you may also find the following useful:

• Research Proposal Bootcamp : Learn how to write a research proposal as efficiently and effectively as possible
• 1:1 Proposal Coaching : Get hands-on help with your research proposal

Research Proposal Example: Frequently Asked Questions

Are the sample proposals real.

Yes. The proposals are real and were approved by the respective universities.

Can I copy one of these proposals for my own research?

As we discuss in the video, every research proposal will be slightly different, depending on the university’s unique requirements, as well as the nature of the research itself. Therefore, you’ll need to tailor your research proposal to suit your specific context.

You can learn more about the basics of writing a research proposal here .

How do I get the research proposal template?

You can access our free proposal template here .

Is the proposal template really free?

Yes. There is no cost for the proposal template and you are free to use it as a foundation for your research proposal.

Where can I learn more about proposal writing?

For self-directed learners, our Research Proposal Bootcamp is a great starting point.

For students that want hands-on guidance, our private coaching service is recommended.

Ace Your Research Proposal

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How to Write a Market Research Plan (+ Free Template)

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A market research plan, similar to a brief, is a vital document that details important information about your market research project. Though it is often an overlooked step of the market research process , an effective plan is often a critical factor in determining whether or not your market research efforts are successful.

Why? Because a well-thought through plan, more so than objectives alone, can be a vital instrument in focusing your investment. It ensures you know, ahead of the commencement date, the timeline, budget and desired outcomes from the project. It can even be used as a tool for receiving quicker sign-off from management when embarking on a new venture.

But it’s also important to remember that the research plan is not just for your team. To make full use of this document, it should be written in a way that can be distributed to agency partners as well – ensuring that your insight team and specialist partners are all working towards the same goal.

Tips for Crafting a Successful Plan

The first rule of writing a successful market research plan is to keep it short. The perfect length is between 1-2 pages, but as an absolute maximum try to ensure that it never exceeds 3. This will give you enough space to explain the background, scope and practicalities of the project while ensuring it is concise enough to be read in full. Throughout these few short pages, the tone of your plan should be informative. Remember that you are outlining information that you already know.

Write in a way that holistically encompasses all aspects of the project. Throughout the duration of your scripting, data collection, analysis and reporting stages of your project you should always be referring back to this document in order to remain focused. As any researcher knows, one of the biggest challenges in any research project is staying true to your original objectives.

With both exploratory and confirmatory research alike, new information is likely to arise which may spark other ideas or bring light to previously unknown issues. Remember these, but set them aside for further investigation at a later date. Travelling too far down the rabbit hole is the quickest way to overspend and under deliver on your original goal.

The 10 Elements of the Best Research Plans

First, let me preface this with a reminder: every project is different. A long term co-creation community will have different needs and requirements to a customer feedback survey or ad testing project. However, despite this – it is important to give equal consideration to all projects, and plan each with the same high degree of meticulous care. With this in mind, these are the 10 key aspects we recommend that all research plans should include:

1. Overview

Use this first section to outline the background to the problem that you are attempting to solve. Include background information on the business to provide context, as well as the circumstances that have led to the need for research. Overviews should be limited to 200 words at most, with most of the word count dedicated to the business circumstances & challenges surrounding the research.

2. Objectives

Arguably the most important aspect of the entire document, objectives should be in bullet point format. List 3-5 of the decisions or initiatives that the research will inform – this will become the remit of the project. Below are a few examples of both well and poorly written objectives:

Well written research objectives:

• Understand the channels in which our customers are most comfortable shopping, in order to decide which should be prioritised in the 2017 Q1 budget
• Develop an active co-creation community that contributes 2 user-generated product improvements for testing to the R & D team per month
• Learn what is leading to an increase in customer churn so that a new retention strategy can be put in place within 12 weeks

Poorly written research objectives:

• Survey 1,000 potential customers to find out how our products can be improved
• Develop a panel of employees that are able to provide answers to research questions on an ad-hoc basis
• Learn how our company is perceived in comparison to competitors and how we can stand out in the marketplace

3. Deliverable outcomes

This section acts as a list what you expect to be produced at the end of the project. This can include, but is not limited to: a target number of responses you expect to receive, descriptions of how the data should be presented and the extent to which the data will be used to inform future decisions. In long term projects such as panels or communities, this may include a target for the amount of decisions that research is expected to inform and/or a pipeline for new ideas in exploratory studies.

4. Target audience

Different to sample, your target audience describes the population that you wish to research. This can be defined by a number of factors depending on the nature of your project. Some of the most common include: demographics, psychographics, life stages and company/ product interaction.

5. Sample plan

The sample plan should be used to indicate the amount of participants you wish to research, as well as a breakdown of each group. This will be affected by the choice to use qualitative, quantitative or multi-method approaches, as well as the estimated size of the target population.

6. Research Methods

List the different research methods that you plan to use in your project. This will be used by your team and agency partners to ensure that the insight you need comes from the most appropriate tools. Be sure to include any non-traditional methods you plan to use as well – it’s important that your team are aware of how data will be captured, even if it is being gathered by an experimental technique.

7. Timeline

These usually take the form of a Gantt chart, but can vary depending on the scope and length of your project. Try to break down tasks as much as possible but be wary of dependencies within your chart. Be sure to schedule enough time in case some research tasks over-run or response rates are lower than expected.

Perhaps the most dreaded aspect of any research plan, budgeting is never easy. But by providing a breakdown of costs and outlining which elements of the project require most investment, a well-planned budget can be a benefit rather than a hurdle.

9 & 10. Ethical and Further considerations

Finally, you should outline any ethical/ other considerations or issues that may arise throughout the course of your project. Whether these are as simple as a conflict of interest or a concern about supplier relationships – this is your chance to address any problems that may arise before they do.

Free Market Research Plan Template

Use this link to download our   free market research plan template . The template comes complete with each of the sections outlined above, with instructions on usage and tips on how to make the most out of it. Currently available in .docx format, please email   [email protected]  if you have any problems with the download.

What do you believe should be included in a successful market research plan? Share your advice with us in the comments below and join the conversation.

About FlexMR

We are The Insights Empowerment Company. We help research, product and marketing teams drive informed decisions with efficient, scalable & impactful insight.

About Chris Martin

Chris is an experienced executive and marketing strategist in the insight and technology sectors. He also hosts our MRX Lab podcast.

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