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Inquiring Minds Want to Know

In: Business and Management

Submitted By bri1897
Words 497
Pages 2
Business Research Methods
, 11e, Cooper/Schindler

2 from the U.S. Penton database. The survey sample was constructed using strati-fied disproportionate random sampling with subscribers considered as belongingto one of 42 cells (seven industry groups by six job titles). A total of 710 com-pleted questionnaires were received, with 676 of the respondents indicating thatthey were purchase decision makers for their organization. Penton analyzed onlythe answers of these 676 buyers. Data were analyzed by weighting responses ineach cell by their percentage makeup in the overall population. The overall marginof error for the survey was ± 4 percent at the 95 percent level of confidence. In-depth follow-up telephone interviews were conducted with 40 respondents, togain a deeper understanding of their behavior and attitudes. Almost every respondent (97.7 percent) had contacted at least one advertiser during the past year. Newer methods of making inquiries—Web visits,fax-on-demand, or e-mail—were used by half (49.1 percent) of the buyerssurveyed. But a look ahead shows the true impact of information technology. Within the next five years, 73.7 percent expect to respond to more ads by sendinge-mail to the company. In addition, 72.2 percent anticipate visiting an advertiser’swebsite, and 60 percent expect to increase their use of fax-on-demand. Three outof five purchasing decision makers have access to the Internet, and 74.3 percentof those without Internet service expect to have it within the next five years. Sevenof 10 (72.4 percent) respondents plan to use the Internet to research potentialsuppliers, products, or services during the next five years, compared to 33.1pecent using it for that purpose during the past year. Findings revealed that the need for fast response and the need for infor-mation on product availability and delivery are influenced by the following: 1Time pressures created by downsizing of the work force and de-mands for greater productivity.2The fast pace of doing business.3.Cost considerations. Behavior varied depending on immediacy of purpose. When buyers havean immediate need for a product or service, telephone contact is the inquiry method of choice. Of the respondents, 79.5 percent reported that they had calleda toll-free number in the past year for an immediate need, while 66.1 percent hadcalled a local number, and 64.7 percent had called a long-distance number. Whenthe need for a product or service is not immediate, buyers are more likely to usethe mail. Among respondents, 71.4 percent reported they had mailed a readerservice card in the past year for a nonimmediate need, and 69.3 percent hadmailed a business-reply card to an advertiser. “A new paradigm is emerging for industrial purchasing,” concludes Long.“Buyers are working in real time. They want information more quickly and theywant more information.” 1Build the management-research question hierarchy.2What ethical issues are relevant to this study? 3 Describe the sampling plan. Analyze its strengths and weaknesses. >Discussion Inquiring Minds Want to Know--Now!

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