Title: 5 Steps to Effective Market Research
Series: Data Lens – Clarity Through Market Research
Episode: 02 | Participants: Scott Bahr, Justin Bahr | Runtime: 27:03
5 Steps to Effective Market Research
A Q&A with Scott Bahr, President of Cairn Consulting Group
Market research is often misunderstood as a one-time project or a static report. In reality, it’s a living process—one that drives better decisions, reduces risk, and helps organizations adapt in fast-changing markets.
In this Data Lens episode, Scott Bahr, President and CEO of Cairn Consulting Group, walks through the five essential steps of effective market research, explains why research should be cyclical, and shares how AI and modern tools are changing the industry.
Below is a refined Q&A version of the discussion.
Q1. What are the key steps in the market research process?
Scott Bahr:
There are 5 steps to effective market research, but everything starts with one foundational question: What problem are you trying to solve?
That problem becomes your overarching objective—the umbrella over every decision you make throughout the research process. Market research exists to solve problems, identify pain points, and support decision-making.
Once that main objective is clear, the next step is defining specific research objectives that align with:
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Company strategy
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Brand positioning
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Competitive context
You don’t want research to solve every problem at once. That’s how it becomes too big and ineffective. The goal is to be focused and nimble, clearly defining what success looks like before moving forward.
Q2. What happens after objectives are defined?
Scott Bahr:
Once objectives are in place, the next step is gathering information. This is where methodology comes into play.
You need to decide:
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Will this be quantitative, qualitative, or hybrid research?
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Are you using surveys, interviews, focus groups, or observational methods?
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Do you have internal capabilities, or do you need external support?
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Who are you talking to, and why?
For example:
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Market sizing and projections usually require quantitative data
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Product development or concept testing often benefits from qualitative insights
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Many modern studies use hybrid approaches, combining both
The key is aligning the method with the objective.
Q3. How do you analyze market research data effectively?
Scott Bahr:
Analysis depends on the type of data collected.
Quantitative data can be analyzed using statistical software, spreadsheets, or dashboards. Qualitative data—like interview transcripts or open-ended responses—requires more interpretation.
This is where AI tools are becoming incredibly valuable. AI can help extract themes, identify patterns, and summarize qualitative insights more efficiently. That said, human judgment is still essential—especially when emotion and context matter.
Often, the strongest insights come from combining quantitative validation with qualitative context.
Q4. Why are visualizations so important in market research?
Scott Bahr:
Once analysis is complete, the next step is ensuring the findings are digestible.
Effective visualizations are critical. They don’t need to be complex—some of the most powerful visuals are simple and intuitive. If someone looks at a chart and asks, “What am I looking at?”, the visualization has failed.
Good visuals:
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Draw the audience in
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Communicate insights instantly
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Reduce the need for explanation
Color choice, layout, and clarity all influence how data is interpreted. Visuals also play a huge role in qualitative research—quotes, audio clips, and short videos can bring insights to life in ways charts alone cannot.
Q5. What are actionable insights—and why are they the most important step?
Scott Bahr:
This is the most critical step in the entire process.
Actionable insights answer the question: “Now what?”
Too often, research stops at results. But results alone don’t solve problems. It’s the analyst’s job to explain:
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What the findings mean
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How they connect to the original objectives
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What decisions should be made next
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How the research solves the problem it set out to address
This is what transforms research from a report into a strategic tool.
When research delivers clear, actionable insights, organizations want to repeat the process. That’s how research evolves from a one-time project into a system and a culture.
Q6. Is market research a linear process—or a cycle?
Scott Bahr:
It’s absolutely a cycle.
Research often leads to new questions. Organizations implement changes, launch campaigns, or adjust strategies—and then they need to evaluate outcomes. That evaluation becomes the next research objective.
When research is embedded into an organization’s culture, teams naturally begin asking:
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“Do we have research on this?”
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“What does the data say?”
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“Should we explore this further?”
That’s when research becomes part of how decisions are made—not an afterthought.
Q7. How do you define the right target audience for research?
Scott Bahr:
Targets flow organically from the objectives.
Once you clearly define what you’re trying to accomplish, your audience becomes apparent:
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Current customers
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Prospective customers
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Decision-makers
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End users
In many cases, including more targets rather than fewer allows for better comparison and deeper insight. Comparative data strengthens conclusions and reduces blind spots.
Q8. How does AI fit into modern market research?
Scott Bahr:
AI is extremely effective for:
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Analyzing open-ended responses
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Conducting secondary research
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Identifying existing studies and references
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Extracting data from government and academic sources
AI can surface information in minutes that once took hours. That said, AI still struggles with emotional nuance—something that’s especially important in marketing and consumer behavior research.
The best results come from combining AI efficiency with human insight.
Q9. What AI tools does Cairn Consulting Group use most often?
Scott Bahr:
We use several tools, but Perplexity has been particularly valuable due to its sourcing and ability to analyze PDFs—including charts and visuals inside reports.
ChatGPT continues to improve rapidly and offers useful capabilities as well. Different tools have different strengths, and the key is using them intentionally to support—not replace—sound research practices.
Q10. What tools and techniques does Cairn Consulting Group use to gather data?
Scott Bahr:
We rely on industry-standard survey platforms, high-quality sample providers, and advanced statistical software.
Most of our research is conducted online for speed, flexibility, and cost efficiency. For qualitative research, we use platforms like Zoom and Google Meet to conduct interviews and focus groups—often at a fraction of the historical cost of in-person sessions.
We also incorporate observational methods, user-generated photos and videos, and ethnographic techniques when appropriate. These approaches bring real-world context into the research and make findings more compelling.
Final Takeaway
Effective market research follows a clear process:
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Define objectives
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Gather data
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Analyze results
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Create visualizations
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Deliver actionable insights
But the real value comes when research becomes continuous, exploratory, and embedded in decision-making.
That’s how organizations move from guessing to knowing—and from reacting to leading.
Keywords
five steps to effective market research, market research process, how to conduct market research, market research methodology, data-driven decision making, actionable insights, qualitative vs quantitative research, market research visualization, AI in market research, exploratory research, Cairn Consulting Group, Data Lens, Scott Bahr, hospitality market research, outdoor hospitality insights
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