What is the best way to write a specific market research problem statement?

1 Define the scope

The first step to write a specific market research problem statement is to define the scope of your research. This means identifying the target market, the product or service, the time frame, and the context of your research. For example, if you want to research the demand for a new mobile app, you need to specify who are the potential users, what are the features and benefits of the app, when are you planning to launch it, and what are the market trends and competitors. Defining the scope will help you narrow down your research focus and avoid irrelevant or vague information.

3 Formulate the question

The final step to write a specific market research problem statement is to formulate the question that summarizes your research problem. This means using a clear and concise language that reflects the scope and the gap of your research. For example, if you want to research the feasibility of a new product line, you need to ask a question that covers who are the target customers, what are their needs and wants, how are they currently satisfied, and what are the opportunities and challenges of the new product line. Formulating the question will help you structure your research design and analysis, and provide a direction and purpose for your research.

4 Use the PICO framework

The PICO framework is a useful tool to help you formulate a specific market research problem statement. PICO stands for Population, Intervention, Comparison, and Outcome and is a common format for research questions in evidence-based practice. To adapt the PICO framework to your market research problem, you must define each element: the target market or customers (population), the product, service, or solution (intervention), the alternative or existing option (comparison), and the expected or desired result or benefit (outcome). For instance, using the PICO framework you can write a specific market research problem statement for a new mobile app: How does the new mobile app affect user engagement and retention of millennials compared to the current app?

5 Check the SMART criteria

The SMART criteria is a useful tool to help you write a specific market research problem statement. It stands for Specific, Measurable, Achievable, Relevant, and Time-bound. To check the quality and feasibility of your research objectives, you should consider if your problem statement is clear, focused, and well-defined; quantifiable, verifiable, and observable; realistic, attainable, and manageable; aligned with your research purpose, scope, and stakeholders; and timely, urgent, and deadline-oriented. For example, a specific market research problem statement for a customer satisfaction survey could be: What are the main factors that influence the customer satisfaction of the online store in the last six months and how can the online store improve its service quality and loyalty programs to increase the customer retention and referral rates?

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?