Need for Market Research, Outline Example

I. Justify the need for market research.

• Define the marketing situation.

Studies conducted in recent years reveal that there are significant differences affecting customer’s tastes and preferences. A perfect scenario is the purchase of mobile gadgets like the iPad from Apple Inc. and Galaxy models from Samsung.

• What is the problem that will be researched?

It is clear that various factors determine purchasing behavior of customer. This has been observed in the tug-of-war existing between iPad and Galaxy models from Samsung. Will a comparison of the two products give an answer to this problem?

II. Define the research objective: What is your hypothesis?

This study seeks to find out the factors that are responsible for the diverse customer tastes and preferences resulting in the purchase of their phone model of choice. This will be achieved through comparison of the two products.

III. Identify data needs: How will the research be structured?

The most notable thing in conducting a useful research study is through the collection of information that is extremely reliable. This study will accomplish this by using well-designed questions and questionnaire to obtain the information that will provide valid conclusions.

IV. Identify data sources and choose an appropriate research design (and method)

Assess the strengths and weaknesses of the basic methods for collecting primary data and recommend a methodology for the study.

A researcher can use questionnaires and interviews to obtain primary data. Questionnaires require that the researcher ask the customers and phone users some questions directly to which they respond. They may also have to fill in some answers for the questions they are given. This is a very versatile method of obtaining information because it requires an individual to ask for information; as a result, it might draw inaccurate response. Information can also be obtained from company’s website relating to the products in question. This is the premise of secondary data collection methods and is merited for their accuracy. It is also cheaper and less involving (Brace 12).

This study will employ the Questionnaire Design methodology: The most vital tool for gathering any relevant primary data is through the questionnaire. Designing the questionnaire calls for significant efforts because if questions are poorly constructed, it can lead to invalidation of research data and large errors (Faarup, Hansen and Aabroe 18).

Understand and discuss the advantages and disadvantages of using secondary sources to gather relevant data about the issue(s).

Secondary sources of gathering data have the advantage of saving time while reducing the costs involved. The disadvantage of using secondary sources of data is that the data collected may not be in line with the problem at hand directly thus raising issues of inaccuracy. It may be more difficult to ensure accuracy in verifying secondary data (Lastesomar, 21).

V. Define the population that will be targeted for primary research.

Given a population and desired level of precision, recommend an optimum sample size and method to gather the necessary research data within budget and time constraints.

I recommend that the research take a random sample of between 30-40 respondents to be used in the analysis. In order to obtain valid and reliable data, the respondents will be treated as potentially different population. Data collection method for this research will be interviews: this involves holding conversations with the respondents. Selection of interviews will be based on the necessity to acquire interaction and explanations, when there are indications of cultural, language and educational barriers.

VI. Design the data collection instrument.

Develop a marketing research questionnaire, including a copy as an addendum to your study. You will turn in this phase of the assignment to your instructor in Week Four and then you will make any changes suggested and include it in the final project.

This part will entail the following questions:

1. How old are you?
2. Which phone model do you use?
3. What made you purchase this model? List as most features/advantages as possible.
4. If you were to choose between an iPad model and a Galaxy model, which one would you go for? Why?
5. Would you advise someone else to purchase the same phone you are using?

The session will end with a thank you note

VII. Identify areas of ethical concern and make recommendations for the appropriate behavior of respondents and users of marketing research.

Ethical conflict arises when a researcher perceives that his or her duties are more serious than the duties and responsibilities of the respondent group. Therefore, such opposing obligations must be addressed. For every respondent, there is a corresponding obligation on the side of the researcher. To deal with such issues, the study recommends that the researcher should be respect the respondents’ right to use any product they deem fit. It will important to inform the respondents that their privacy will not be compromised because the principles of ethics suggest that the respondents have the right to remain anonymous in any research. The researcher is obliged to guard any personal information provided by respondents (Faarup, Hansen, and Aabroe 26).

VIII. Recommend elements for reporting that should be developed with results from the study to make sure that the findings are actionable.

Investors: this information is vital to them because they use it to assess the product that is appreciated by many customers. For example, if an investor was intending to invest on any of the product but instead finds that the rival one has a promising future. This will be helpful in making such a decision. This also applies to the manufacturer in identifying the faults in its product (Roe 35).

IX. Also, think about next steps: is there an appropriate next step for a study?

The next step would be conducting a data analysis and give out the results of the study. Data analysis involves reviewing of the research objectives. This will assist the researcher in organizing the data and remain focuses throughout the analysis. The most crucial step in any market research is reporting and presenting the research findings. There are many different styles just as there are research methods. Different reports are meant for different levels of people. Therefore, there must be a difference in the scope and level of reports. Finally, every market research must elicit conclusions and recommendations. This involves converting data into relevant information that draws conclusions. The management needs this final information to reduce any uncertainties and risks in the decisions made by the management (Brace 14).

References

Lastesomar. Market Research Best Practice: 30 Visions for the Future. New York: Cengage Learning, 2007. Print.

Roe, Michael. Market Research in Action. Cengage Learning EMEA, 2004. Print

Faarup Poul, Hansen Kenneth, and Aabroe Jacob. Market Research and Statistics. Belmont, CA: Thomson Wadsworth, 2010. Print.

Brace, Ian. An Introduction to Market & Social Research: Planning & Using Research Tools & Techniques. Kogan Page Publishers, 2006. Print