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Pages:
10 pages/β‰ˆ2750 words
Sources:
4 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 43.2
Topic:

Market Research Designs

Essay Instructions:

You have met with senior management of Acme Wholesaling, Inc., proposing a method for going forward with a research project to help the company understand the odds of success of its new product venture. The chief executive officer (CEO) has now asked that you sum it up by presenting the plan to the board of directors for their final approval and funding. This presentation will be the draft of your Key Assignment, and it will incorporate the work that you have done in your previous projects. Additionally, you will work on one new section for this week, the questionnaire. Your presentation should include the following items:
Introduction (Week 1 DB and IP): Include an introduction with a discussion of why this research project is important, why this is the right time to fund and execute this project, and why this project is aligned with meeting the firm's expectations for its new product venture.
The Research Questions (Week 1 IP): List the research questions that you feel must be answered to know enough to proceed with the new product venture.
Secondary Sources (Week 2 DB): This is a discussion of why secondary sources should first be examined and which ones are available.
Literature Review: (Week 2 IP): This is a listing and a description of the three best secondary sources that you found in your research, what these sources say, and their relationship to answering one or more of the research questions.
Primary Research (Week 3 DB): What design options are available for this project, and what are their relative roles and advantages?
Research Design (Week 3 IP): Choose a research design or designs for the project, and justify these choices by providing a time line and an activity schedule for when and how long it will take to accomplish this plan.
Sampling Method (Week 3 IP): Describe your target population and the people from whom you will take your sample for data collection.
Questionnaire
Notwithstanding any other primary research method you would like to use, imagine that a survey questionnaire will at least play some role in the project. Present what that questionnaire would look like, what form and type of questions you would ask, their exact wording, and to which research question each survey question pertains. The questionnaire should have at least 5 questions directed to answering the research questions that you have previously developed.
Your deliverable will be a PowerPoint presentation of 10–12 slides, including a title and reference slide. Each content slide should have speaker notes of 100–150 words per slide.

Essay Sample Content Preview:

Business & Marketing
Institutional affiliation
Student’s name
Course code
Tutor’s name
Date
Primary Research (Week 3 DB): Market Research Designs
Marketing research gives a business a picture of the new products as well as services likely to bring profit. If the products and services are already in the market, research will show the company whether the product or service is meeting the needs of the customers. A successful market research will help in creating a business and marketing plan or even to measuring the success of your current plan by using the results obtained (Ernst, Hoyer, & Rübsaamen, 2010). The research problem is the one that determines the type of research design to choose.
The Descriptive Research
This is the popular research design and is uses informal means. The focus of the research is to provide a clear explanation of something as it is occurring. It is more suitable when focusing on explaining, monitoring and testing hypothesis. It is useful when making discoveries and predictions (Babin, & Zikmund, 2015). This research design is effective because it is informal. Informal descriptive research also fails to meet the validity and reliability tests. The information gathered here should hence not be used to form important components used in marketing decisions. These aspects call for the researchers to be very careful while developing the structure of the research design.
Exploratory Market Research
It is a design that aims at gathering general information for a marketer who is unfamiliar with the topic (Babin, & Zikmund, 2015). It is effective when the marketer does not understand the topic or the topic is new. It also provides directions for a more formal research. It may go further step of indicating the direction hence providing a more descriptive study.
Casual Market Research
This tries to determine if the manipulation of an independent variable can affect the other variable, which is dependent. It is very reliable in prediction and test hypothesis. To some extent, it can help discover and give explanations (Ernst, Hoyer, & Rübsaamen, 2010). It is very useful in testing scenarios in marketing and forecasting.
Research Design (Week 3 IP)
The research design used here on is, therefore, exploratory market research which will help in giving the direction of the study hence a more descriptive research for the future study.
Month

Project Goal/ Alternative Objective

Activity

Expected Completion Date

Responsible Person

1

Enter a new market

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