...Market Research Interview Vincent Parson Staryer University GB-500 Business perspectives June 9th, 2015 Market Research Interview Marketing is pivotal for monetized, for-profit businesses to succeed. “Marketing without data is like driving with your eyes closed.” (Zarrella, 2013). These companies strive to viably secure and convey the appropriated sales and advertising techniques necessitated to procure the proper, targeted clientele a given business most likely would obtain business from. One of the notable methods these aforementioned businesses use to endear future business is by conducting the proper research based upon the consumer’s specific predilections. The methods used to help ascertain what these particular clientele’ needs and wants are is what is known as market research (Cadle, Paul, Turner, 2010). Market research is an extremely important component of business strategy. Succinctly, market research is really any organized effort to accumulate information that is based upon target customers or markets. Market research is more or less concerned specifically within a given market. This is what’s known as a very distinct key factor that helps companies to ensure they have both an upper edge as well as to maintain their specific competitiveness over their competitors (McDonald, 2007). The market research that is used is to help provide essential information that helps to both analyze as well as identify that market’s need, in addition to that market’s competition...
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...D2 - Make justified recommendations for improving the validity of the marketing research used to contribute to the development of a selected organisation’s marketing plan. In D2 I will be making justified suggestions for improving the validity of the limitations that was mentioned in M2. There are different limitations in market research, I explained five of these in my M2 and I will be discussing these limitations and how they can be improved in this task. I will also evaluate how the limitations of the three methods of market research that Sainsbury’s uses can be improved in order to keep up their performance if they have been doing well or even if they haven’t been failing how these limitations have help improve their business. Food sampling followed by a survey was the first method of research used by Sainsbury’s to which I discussed in M2. There are many limitations when it comes to food sampling followed by a survey and these limitations were discussed in M2 also. The limitations I discussed concerning food sampling followed by a survey were cultural and cost. Both these limitations will always affect how food sampling followed by a survey is done when this research method is being carried out, but these limitations can be rendered simple but still have effect on this research method. Sainsbury’s being the third leading supermarket in the UK they must carry out large sums of market research in order for the them to beat their competitors although they are in close competitions...
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...useful the research methods would have been to the business Internal Secondary Sources This will be useful for the business as they will be able to get data from the business itself. This method will give the business information but there are weaknesses. The weaknesses of this research method would be that the business would have to spend a lot of time researching as the business would be holding a lot of information so it may be hard for them to decide which information to use. The business could be finding information whether or not to stop selling a certain product to the customers as it may not be selling or profiting the business. But the information which they have will be valid as it’s from the business itself. All of the sale figures of the products would be on the businesses system which the business would be able to access....
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...Business research is the application of the scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating alternative courses of action, and monitoring employee and organizational performance. It is the way that a company can do a field of practical study to obtain data and analyze it in order to better manage the company. Executives and managers who use business research methods are able to better understand their company, the position it holds in the market and how to improve that position. “Business research is unique from other research because business researchers do not just gather knowledge, but also generate action. Business researchers deliberately and consciously investigate problems or perceived gaps from “what is” to “what should be (JIU, 2012, BC 500, Module 1, Theme 1, para 1). “Critical Success Factors in the Performance of Female Owned Businesses: A Study of Female Entrepreneurs in Korea” by Sang Suk Lee and Timothy M. Stearns is a business research article on a study that examined the relationships of female entrepreneurs’ motivation and critical success factors of female owned business and business performance. The research “suggests that small business success is the moderating variable of female entrepreneurs’ motivations and performance and that the motivations of female entrepreneurs directly affect their business success and, in turn, relates to...
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...Understanding Business Research Terms and Concepts: Part 2 Ngoc RES351 April 8, 2015 William Khoepfer Understanding Business Research Terms and Concepts: Part 2 Businesses will always need market research and it generally falls into two different groups. Qualitative and Quantitative. Qualitative research is “Qualitative research is designed to reveal a target audience’s range of behavior and the perceptions that drive it with reference to specific topics or issues. The results of qualitative research are descriptive rather than predictive.” ("What Is Qualitative Research?” 2015). Quantitative research “is about asking people for their opinions in a structured way so that you can produce hard facts and statistics to guide you. To get reliable statistical results, it’s important to survey people in fairly large numbers and to make sure they are a representative sample of your target market.” ("What Is Quantitative Research?” 2015). There also are descriptive and statistical approach’s in this paper that will help with understand what is best for you business research. When constructing a business research there are several sampling methods that can be used. Some sampling methods would be simple random sampling, systematic sampling, cluster sampling and quota sampling and etc. The article I chose to do is called Qualitative and quantitative methods for sampling zooplankton in shallow coastal estuaries. “Many different devices are used for sampling zooplankton. Every sampler...
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...Science Hanken School of Economics Quantitative Research Methods M.C. 8.11.2010 Table of contents 1 The Philosophy of Science 1 1.1 The Philosophy of Marketing Theory: Historical and Future Directions – Mark Tadajewski 1 1.2 “Paradigms Lost”: On Theory and Method in Research in Marketing – Rohit Deshpande 4 1.3 Empirical Business Ethics Research and Paradigm Analysis – V. Brand 6 2 Summary on key learning notes 9 Bibliography 12 The Philosophy of Science The discussion of marketing as a science and the different paradigms related to it were unfamiliar to me before I read these articles included in the assignment. I had earlier gotten familiar with the discussion of economic sociology and the discussion and the debate between economics as a science (especially the neo-classic economic approach) and the subject it researches, i.e. the economic markets where these economic practices take place. It is thus also logical to become familiar with the evolution of marketing practices, as this to many degrees resembles and also equates to the evolution of economic sciences and other sciences alike. The articles are assessed in the order that I read them, since it is hopefully also possible for the reader to follow a logical construct in the development and adoption of the insight that the articles provide on marketing research. Even though this does not pose a logical progression of the articles time-wise, I still feel that it is natural to address these...
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...5 Ethics in business research Chapter outline Introduction Ethical principles Harm to participants Lack of informed consent Invasion of privacy Deception 122 128 128 132 136 136 138 139 140 141 142 143 144 145 145 Other ethical and legal considerations Data management Copyright Reciprocity and trust Affiliation and conflicts of interest The difficulties of ethical decision-making Checklist Key points Questions for review © Oxford University Press 2011. Alan Bryman and Emma Bell. Business Research Methods 3e 122 Ethics in business research Chapter outline Ethical issues arise at a variety of stages in business and management research. This chapter is concerned with the concerns about ethics that might arise in the course of conducting research. The professional bodies concerned with the social sciences have been keen to spell out the ethical issues that can arise, and some of their statements will be reviewed in this chapter. Ethical issues cannot be ignored, in that they relate directly to the integrity of a piece of research and of the disciplines that are involved. This chapter explores: • • • • some famous, even infamous, cases in which transgressions of ethical principles have occurred, though it is important not to take the view that ethical concerns arise only in relation to these extreme cases; different stances that can be and have been taken on ethics in business research; the significance and operation of four areas in which ethical concerns...
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...Understanding Business Research Terms and Concepts Part 2 Donna Johnson RES/351 March 10, 2016 Victor Ornelas Understanding Business Research Terms and Concepts Part 2 Introduction: Data collection is a very strong aspect in any type of research investigation. Direct observations cannot make up the study; data should be collected from individuals in forms of some type of sample. I have researched two businesses that I will explain three quantitative data collection instruments and sampling methods. One of the businesses will identify a descriptive statistical method and the other business will explain how to use inferential method. Each sampling approach will have their strength and weakness identified, specific situations of each instruments and designs will be explained, strength and weakness of each statistical approach, provide an example of how they can be used most effectively in a combined approach, and finally address the methods which are more appropriate for my own business and functional area. Strengths and Weakness of Sampling approach Tests can provide a variety of characteristics of individuals allowing common measures to be compared across populations, many tests can be held in a group that saves time and the response rate is higher, quantitative nature of the data creates ease. Tests also have strength in providing a wide range of tests being available and already prepared. Weakness of test can have a high costs depending on the items needed to conduct;...
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...Fachbereich Wirtschaftswissenschaften Studiengang International Management Fach- Sozial und Methodenkompetenz Bachelor Research Proposal Consumer perceptions of socially responsible consumption: Attitudes among Chinese and German business students- A comparative/ contrastive study * * * Index 1 Title and Initial Statement of Research Question 3 2 Background 3 3 Statement of research objective 6 3.1 Primary research objective 6 3.2 Secondary research objective 6 3.3 Definition of terms 6 3.4 Detailed explanation of objectives 7 4 Research design and schedule 8 4.1 Approach 8 4.2 Methods of familiarisation: 8 4.3 Methods of using text: 9 4.4 Methods of using Talk: 9 4.5 Methods of using experimentation: 10 4.6 Methods of observation: 11 4.7 Tools of data recording and documentation 12 4.7.1 Tools for talk 12 4.7.2 Tools for text 12 4.7.3 Tools for observation 12 4.8 Time schedule 12 5 Significance and creativity 13 6 List of References 13 Title and Initial Statement of Research Question Consumer perceptions of socially responsible consumption: Attitudes among Chinese and German business students- A comparative/ contrastive study Every single consumption choice that consumers make has a huge impact on the environment and the society. Consumers can influence the market by buying products that have a limited impact on the environment and the society. By taking social responsibility in...
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...Business Research Applications Paper Individuals and companies use research on a daily basis and frequently throughout the day – with or without necessarily even realizing it. Research might be conducted simply to uncover the answer to a question or determine a possible outcome to a situation. I have a close friend who works for a bank that is focusing heavily on delivering a great customer experience. She frequently shares her professional experiences with me and I find it very interesting – the mechanisms the company puts into place to measure results. It may not seem to be research in the traditional sense however the bank is constantly conducting research. Before considering the types of research conducted at this financial institution, first it is important to understand what types of research exist. According to the text book, there are four types of research: reporting, descriptive, predictive, and explanatory (Cooper & Schindler, 2011). The reporting method entails information collection. This can be a difficult task – collecting the information necessary. An important source for information is found in the gatekeeper or an expert regarding the topic being researched. The reporting method does not require interpretation – the information is as it is presented. This method can be considered one of “fact finding” as it might be considered simply a collection of facts. The descriptive method provides answers to questions of who, what, where, and how. Generally, this...
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...|Assignment front sheet | |Qualification |Unit number and title | |BTEC Level 3 National in Business (QCF) |Unit 10 Market Research in Business | |Learner name | Assessor name | | |Duncan Llewelyn | |Date issued | Hand in deadline |Submitted on | |23rd April 2015 |19th June 2015 | | | | | |Assignment title |Unit 10 Market Research | |In this assessment you will have opportunities to provide evidence against the following criteria. | |Indicate the page numbers where the evidence can be found. ...
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...Testing a Theory Research is an investigation or experimentation aimed at the discovery and interpretation of facts, revision of accepted theories or laws in the light of new facts, or practical application of such new or revised theories or laws (www.usg.edu). In psychology there are several types of descriptive research used to investigate a person, group, or patterns of behavior. Descriptive research in psychology consists of archival research, naturalistic observation, survey research, case study, and correlational research. Even though we may not be psychologists, there are times when we have used one of these research methods to test a theory, whether at work, school, or even at home. There have been several times when I had to use research methods at work. Because I own a restaurant, I am involved in the hiring of new employees. The research methods used for this process are survey and case study. I use survey research because there is no better way to get to know someone better than by asking them questions directly about their thoughts and attitudes. To gain a more in-depth understanding of a potential employee, I turn to case study to do so. I ask questions to get a better insight of the personality of the person in order to see if they are fit for the job and will be a reliable employee. Whoever it is that is in charge of hiring employees should focus on hiring reliable and knowledgeable people to help run their business. This is an important part of owning...
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...Assignment 2 – Philosophy of Science Sofia Ellmén, 072270 QRM, 23019 Instructor: Veronica Liljander Individual assignment 2 HT 2011 The aim of marketing research is to conduct empirical studies, which generate theory through the findings that the researcher makes in his or her study. In marketing research the object of research is usually concerned with consumer behavior and other social matters. When conducting academic research, one must not only be familiar with the appropriate theoretical framework to use, but also know which methods are suitable for conducting that particular study. Theory and methodology cannot be separated from each other, but should be seen instead as a whole. Depending on the theoretical framework you also commit yourself into using specific tools in the empirical research you aim to do. In other words, your world view directs what methodology you can and should use in your empirical work (Desphande,1983). The different world views are in this case broadly classified as research philosophy and when discussing different research stances one can take, we are talking about research paradigms. The three assigned articles by Desphande(1983), Brand(2009) and Tadajewski(2004) discuss the various research paradigms and how they can and should be contrasted to one another in order to form a more functional whole. In the first article by Desphande, a definition for paradigms by Thomas Kuhn is offered. Paradigms are described as a guide for...
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...Case Assignment 1 1. Build the management-research question hierarchy. The management –research question occurs during stage 1 of the research process. The approach for this stage of the research process is to state the dilemma that prompts the research and then develop other questions by progressively breaking down the original question into more specific one (Cooper & Schindler, 2014, p. 77). Our case highlights a multistage communication study undertaken by the research department of Penton Media, a publisher of business trade magazines, to determine the long-term viability of a reader and advertiser service, the reader service card, a post-card-size device used by readers to request additional information from a particular advertiser. Leveraging the scenario described in the case assignment, we will build out the management-research question hierarchy (Cooper & Schindler, 2010). Discover Management Dilemma The process begins at the most general level with the management dilemma. This is usually a symptom of an actual problem (Cooper & Schindler, 2014, p. 77). In our case study, the actual problem or dilemma is a decline in use of Penton Media’s publication reader service cards, a post-card-size device used by readers to request additional information from a particular advertiser. This postcard –sized device features a series of numbers, with one number assigned to each ad appearing in the publication. Readers circle the advertiser’s number...
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...Research Methods for Strategic Managers to Aid in Decision Making Abstract [P1] Managers can be trained to make better decisions. They also need a supportive environment where they won’t be unfairly criticised for making wrong decisions and will receive proper support from their colleague and superiors. A climate of criticism and fear stifles risk-taking and creativity; managers will respond by ‘playing it safe’ to minimise the risk of criticism which diminishes the business’ effectiveness in responding to market changes. It may also mean managers spend too much time trying to pass the blame around rather than getting on with running the business. The study is based on all-embracing research to assemble information from a variety of sources such as internet, interview and books. The research was conducting on the decision making in the different economic scenario data was collected and results were evaluated. Introduction [P1] [1.1] Some decisions are difficult because of the need to take into account how other people in the situation will respond to the decision that is taken. The analysis of such social decisions is more often treated under the label of game theory, rather than decision theory, though it involves the same mathematical methods. From the standpoint of game theory most of the problems treated in decision theory are one-player games (or the one player is viewed as playing against an impersonal background situation). In the emerging socio-cognitive engineering...
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