APPLIED RESEARCH METHODOLOGY

Applied Research Methodology

Table of Content

Introduction3

Aims and Objectives3

Critical Review5

Research Methodology8

Data Analysis10

Ethical Issues11

Conclusions and Implications12

Limitations to the Research12

Applied Research Methodology

Introduction

There is need for factual information in order to have a clear picture of what the new market requires. In such a case, it is always important to undertake a marketing analysis effectively in order to have an understanding of what customer wants the existing market demand, existing level of competition and existing distribution channels etc. The current information (if any) is not up-to-date and thus there is the need for such information to be updated on a regularly as businesses operate in a dynamic environment which is influenced by factors which include changes in technology in the production of new products and production processes in addition to changes in customer tastes and preferences (Argyrous 2005).

Further, when competitor products change, there is also the need to change. Change in economic conditions is also a very important aspect which calls for new methods of production and new products. Such information helps the organization in gaining deeper understanding of consumer needs and preferences and thus reducing the risk of product failure. Also, such information assists the organization in coming up with future forecasts and trends which are beneficial (Saunders and Thornhill 2003).

Aims and Objectives

This market research study will employ the use of 1000 participants. The findings from the respondents will help the organization to develop strategies which will be based on factual data and which will assist in influencing decisions, justifying actions and providing deeper explanations on why certain decisions have been made. The market study will, thus, aim at putting together information and supporting data aimed at;

Evaluating marketing opportunities by establishing the proportions of persons using same products, the reasons for using them (or reasons for changing from one product to the other);

Establishing the average consumptions, the likelihood of future spending and consumer tastes and preferences;

Analyzing market segments which will again assist in the selection of target markets, identification of potential customers and those that plan to consume the proposed products and why they have been using them;

Getting more information on consumers who are likely to adopt the products and why they are likely;

Planning the implementation of a marketing mix and coming up with products which will satisfy customer needs;

Gaining a deeper understanding of the promotion methods used and which target and appeal the perceived market segment. The level of education if very important since the readership of the various print media if key as it will determine the level of promotion and the most appealing promotion methods;

Determining the adequacy and effectiveness of the existing dealership in the planned location is very important. This should inform the management whether another dealership should be developed;

Analyzing marketing performance to assist in determining whether customer expectations in terms of service are being met and whether the quality and the aesthetic appeal of the products is realistic; and

Making comparisons on whether the perceived performance and service quality are comparable with customer expectations and with those ...