A market research proposal is an official document that intends to investigate and study the market in which a company has decided to launch its products. Forwarded for the approval of the management authority, the document mainly proposes certain research ideas and techniques that may benefit the sales of the company.
Sample Market Research Proposal
Name of the proposal: Comparative market study of herbal creams and cosmetic creams.
Date: September 9, 2012.
Proposed by: Samuel Ryder, Marketing Planner, Effectivecreams Private Limited.
Proposed for: Richard Smith, Senior Manager, Effectivecreams Private Limited.
- Target customers for each product. Analyses as to whether each product have a separate market or do they overlap each other.
- Factors affecting sales of the products. All geographic, psychographic and demographic factors that may even remotely influence sales should be considered.
- Detailed analysis of the business orientation of companies manufacturing these products.
Research Philosophy: The research philosophy that has been adopted is based on interpretive epistemology. The research technique thus involves close scrutiny of customer behavior, their buying patterns, market growth of the product, product potential and current market status. Employing the tool of case study, the research aims to predict the future of a certain product and its lifeline in the market of its times.
Duration: The project is supposed to start on October 17, 2012 and take shape throughout the course of the year, the date of final submission being October 16, 2013.
Financial Assistance: An estimate of 3500$ have been assigned for the successful completion of the research