Saturday, December 14, 2019
Mkt Research Free Essays
string(36) " new or improved products/services\." Assessment activity 1 1. 1 In conducting research on behalf of your organization or for a client organization, what factors could influence the choice of sources used? The intention of the research and also the types of products and services. 1. We will write a custom essay sample on Mkt Research or any similar topic only for you Order Now 2 Why can data and information cross-checks and cross-references be necessary when doing research? It is important not to rely on a single piece of information if you can avoid it, so also look for corroborating evidence unless the source is absolutely unimpeachable. Use reliable sources or cross-check and find supporting data wherever possible. Knowing how data was obtained is central to knowing its value. If the information comes from a survey look to find the sample source and size. Assessment activity 2 2. 1 Scenario: You have been asked to conduct research on behalf of the organization for which you work. Why is desk research the first research you should undertake? Their relative low cost, they can be an efficient use of time and they avoid duplicating research that has already been undertaken by others. . 2 What desk research sources could you use to collect and organize data? Company reports Data from previous research 2. 3 Why should your desk research include the collection and analysis of data relative to the organization’s current and past performance? It will help aid in the development of useful and useable hypotheses, accurately targeting research, designing and developing research tools. There is no point gathering informat ion on the migration patterns of flamingos if the company is in the business of making clothes for the larger male. That is an absurd example, but if there are even subtle diversions between the company mission and your data gathering, you will be off track and have wasted energy and resources. Assessment Activity 3 Describe and explain the reporting formats that you have used or might follow when submitting desk research results. Normally each company has its own template but typically using chart and graphs besides tables and texts is a preferred way in most companies as it is clearer and more quickly understandable. Assessment activity 4 4. 1 Give 3 examples of hypotheses that you have used (or could use) when conducting market research. Salary packaging will increase loyalty and productivy at work Uncontrolled media undermines democratic government Plain packaging will not reduce the sales of cigarette. 4. 2 How do these hypotheses help to focus the research? A hypothesis will help to focus your research. It will help to guide the development of a research project and aid you in determining the direction you need to take and the questions to which you need answers. Assessment activity 5 5. 1 Why might a researcher choose to conduct qualitative research rather than quantitative research? Qualitative analysis provides information on how customers perceive a business, how they rate it in comparison to competitors and whether they plan to buy the organization products/services in the future. Also dealing with opinions, attitudes and behavior. 5. 2 Which method/s might be used to collect the data and why would you consider these to be the most appropriate? Processes used to collect customer information can include questionnaire surveys, face-to-face, written, and electronic or telephone survey methods; observational surveys; focus groups; product test results; retail audits. Data can also be collected, via desk research, from government organizations such as the Bureau of Statistics, the Census Bureau, from media companies, chambers of commerce, other research organizations or from university databases. 5. 3 What groups would you target and why? Customers, previous customers, stakeholders are often the target in a research, but it always depends on the information the company requests on its research. 5. 4 Explain what a measure of central tendency is and how it is used in analyzing market research data. Are measures used to locate the middle points of a distribution. The mean (average-obtained from adding all variables and dividing by the number of variables used), median (variable at the centre of the range) and mode (most frequently occurring variables are measures of central tendency). They serve to identify the points between the extremes. As an example, if a survey asked users of a certain product their age, measures of central tendency help to determine the typical age of the user. The youngest might be 10 years and the oldest 70. However, the values in between these extremes are the most useful for the marketer. Knowing that the mean (or average) age is 32, the median 34 and the mode 31, 32 and 35, indicate that typical age of a user is early thirties. Assessment activity 6 Complete the following table Method for collecting your data| Circumstance for choosing this method| Reason for choosing this method| Telephone survey| Large number of responses to a small number of questions required in a short period of time. | Efficiency and low cost per response. Responses can be qualified if necessary and data entry is immediate. | Focus group | Effective when qualitative data is required. Can be expensive but can provide effective results. | Effective results and efficient scribe. | Formal questionnaires | Inexpensive way to gather responses from a large number of respondents. | Effectively and can gather information to correlate performance and satisfaction among different groups of users. | Simple observational survey| Simplistic methods of conducting market research. | Can provide valuable and useful data. Determine who purchases what from where. | Mystery shopping observation | Actual experience of the service| Is needed from a trained observer| Product testing | New product valuation| Opinions for improvement| Informal discussion and feedback forms. | Gives you a simple and quickly answers. | Efficiently way and cheap processes which gives you answers in a short time. | Assessment activity 7 Why is it essential that market research plans demonstrate that they will collect information that will enable clear identification of customer needs, wants and expe ctations? It can be used to identify problems, strengths, potential markets, needs for change or to forecast sales of new or improved products/services. You read "Mkt Research" in category "Free Research Paper Samples" Customer focus is essential for success in the highly competitive markets of today. It should demonstrate to the organization exactly what is their customers or potencial customers require of them. Assessment activity 8 amp; 9 8/9a Explain how you might identify respondents for a product/ service survey. You can identify thru some surveys, segments and samples, questionnaires, focus groups and research such as: Geographic segmentation; Demographic segmentation; Psychographic segmentation; Beliefs and values; Lifestyle segmentation; stage of life; 8/9b Which of the following are relevant in identifying and selecting respondents for marketing research Respondent Characteristic| On a scale of 1-5 where 1 is important and 5 is not important – rate the importance (circle or make bold or delete unselected #)| A customer|           2         3       4         5| A potential customer|        2         3       4         5| Not a customer|  1          2                  4      5| Was selected at random| 1         2               4         5| Was a stakeholder| 1         2         3       4        5| Required an incentive to bother| 1         2              4         5| Was interested| 1                3       4         5| Had the time and was available| 1                3       4         5| Was someone who disliked the products| 1         2               4         5| Assessment activity 10 Why is preparation of facilities and equipment in readiness for the research procedure important? Preparation is the key to effective data collection. Staff should be fully informed about what is required, must be appropriately trained and must be supplied with the necessary resources. Assessment activity 11 11. 1 What reports might an organization ask to be submitted after the surveying process has been completed? What types of information would the report contain? Written responses, verbal recordings, e-mail, postal results or data and sets of numbers collected as a result of focus groups or testing groups. Information like- numbers of respondents; ease with which respondents were contacted; -ease with which respondents were encouraged to participate; -ease with which respondents were able to use the survey format;  -numbers of responses in various information collection categories; – suitability of the survey questions and other resources; -costs applicable to the survey ; – a general assessment of the success of the survey; -problems or issues that were identified during the research  -suggestions for improvements to the research process. 11. 2 How might survey tools be kept confidential and accessible only to authorized people? Safe Locks on door Passwords Assessment activity 12 12. What procedures should be followed to check the quality of the data collected during market research? Quality of the data collect will have to be considered and will include: Quantity, Type of responses and Depth of responses. Ask: – Did the survey questions elicit the necessary data? –       Is there enough significant and useful data to support or reject the original hypotheses? –       Were the respondents properly targeted? –       Were respondents correctly qualified? –       Is the data useful and does it meet its intended purpose? –       Can the data be easily analyzed to produce the necessary information? 12. 2 Why are quality checks necessary? The quality of the data should be checked as early as possible because decisions depend on valid and reliable data. Data quality can be assessed in several ways, using different types of analyses: frequency counts, descriptive statistics (mean, standard deviation, and median), normality (skewness, kurtosis, frequency histograms, normal probability plots), associations (correlations, scatter plots). Other initial data quality checks are: †¢Ã‚          Checks on data cleaning: have decisions influenced the distribution of the variables? The distribution of the variables before data cleaning is compared to the distribution of the variables after data cleaning to see whether data cleaning has had unwanted effects on the data.           Analysis of missing observations: are there many missing values, and are the values missing at random? The missing observations in the data are analyzed to see whether more than 25% of the va lues are missing, whether they are missing at random (MAR), and whether some form of imputation (statistics) is needed. †¢Ã‚          Analysis of extreme observations: outlying observations in the data are analyzed to see if they seem to disturb the distribution. †¢Ã‚          Comparison and correction of differences in coding schemes: variables are compared with coding schemes of variables external to the data set, and possibly corrected if coding schemes are not comparable. Assessment activity 13 Select a market research project from your experience or elsewhere. Explain how the data for this project was aggregated and summarised and why it is necessary to summarise the data. Answer is enterprise and experience dependent so use an example: We had done a random sampling with our product which is a Brazilian meat. So we go to a night clubs early night and offer some of our product to customers and give them a sample of our meat and also a voucher which gives them the opportunity to come to our restaurant and enjoy our food with 20 % off discount. So when them coming back to the restaurant we can analyze the number of respondents by noting the number of vouchers collected and wrote a report. Assessment activity 14 Describe software packages or filing systems that could be used to record and manage research data. (Suggest search of www for brand names) SPSS – is a computer program used for survey authoring and deployment, data mining, text analytics, statistical analysis and collaboration and deployment. MS Access – is a database management system from Microsoft that combines the relational Microsoft Jet Database Engine with a graphical user interface and software-development tools. Minitab – is a statistics package. Assessment activity 15 15. 1 Describe a format that might be commonly used in an organization to present research reports. Suggestion: search of www for examples) – Title page – shows name and type of study, date, who produced it and for whom – Table of contents – Executive summary – brief statement summarizing reports main points – Introduction – details research projects background and ob jectives – Research methods – strategies and techniques used and why – Study data – includes all relevant charts, diagrams, tables and study results – Recommendations / Conclusions – Appendices 15. 2 Under what circumstances might you use charts and graphs? Give examples of the data that might be represented by specific chart or graph formats. Most common are graphs, pie charts, tables, histogram, time line. To compare what’s the proposed now and what was the beginning of the research is important to use charts and graphs, also to determine whether the research has highlighted any threats, opportunities, weaknesses, problems associated with the product/service/company under review. 15. 3 Why is it a good idea to utilize charts, graphs and other visual presentations of data? They can easily show results and statistics data also show changes, percentages, compare 2 data sources and make clearly if you need any kind of changes. 15. 4 How can a force field analysis assist in presenting data relative to proposed change and how does market research data contribute to the analysis? In determining whether a change is necessary, list the forces the change and those opposing the change. Balance them against each other to determine the necessary outcome. This is very much like a pro’s and con’s list. It shows whether the forces for or conditions requiring change are greater than those for not changing. It is important to keep in mind that the purpose of the exercise is to make the information clear, unambiguous and easy to understand. 15. 6. To whom might an organizations research report and findings be submitted? Whoever asked for the research and anyone they said to give a copy to. 16: Additional Questions Create two Quantitative questions, one using a scale another using check boxes 1- How useful to you was the orientation session at the College? please circle the number that best represents your opinion) Extremely                                                                               Not at all Useful                                                                                     Useful            1         2         3        4 5        6         7         2- Did you know that when you recommend the college to someone and they then enroll in a course you can receive a $300 finders bonus? Yes  ____                  No _____ Create two different qualitative questions 1 – Ca n you describe the orientation session at the college? 2 – How you feel about the money you receive for recommend the college? How to cite Mkt Research, Essays
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