The theorist implied that obtaining research from the entire population would be considerably expensive and injurious to a firm’s operations (Wiid and Diggines, 2009:56). His emphases were that a proper survey and random sampling of the population would present relevant data that would adequately provide information about the population. The following script argues out on the various concepts related to market research.
Sampling is a crucial process of accruing relevant data from the target population. As a researcher, sampling denotes the best approach to a study with the provision of different sampling methods for research. The methods range from probability and non-probability sampling, stratified sampling, quota and area sampling, and cluster sampling. The following are the benefits of a good sampling method.
Researchers engage on marketing research to identify the factors and solutions to a business problem. This process requires an effective and efficient approach as delays may pose negative impacts to a company’s production, processing, and delivering of satisfaction to the final consumer (Czinkota and Ronkainen, 2007:38). Therefore, time is a beneficial tool in relation to the issue of marketing research, and to the establishment of viable factors for business progression and success (Wiid and Diggines, 2009:57). As a marketing researcher, the appropriate sampling method should be time effective and precise on obtaining the amount of data required. The essence is that a sample method determines the longevity of obtaining data for use in forecasting different prospects of the business. Whenever a sampling method takes a long time, businesses may fail external forces that may threaten to halt operations. For instance, the global market is competitive and a time-consuming sampling plan may draw the attention of rival competitors.
Research is a necessary tool in amassing information relevant in establishing the long range ...
Cite this document
(“Market research Paper Example | Topics and Well Written Essays - 2000 words - 1”, n.d.)
Retrieved from https://studentshare.net/marketing/581440-market-research
(Market Research Paper Example | Topics and Well Written Essays - 2000 Words - 1)
“Market Research Paper Example | Topics and Well Written Essays - 2000 Words - 1”, n.d. https://studentshare.net/marketing/581440-market-research.
It is usually carried out in the wake of a new project or a business undertaking. All it provides for the organization is identification of principal internal and external aspects that may be either desirable or otherwise to the organization. This paper is destined at analyzing the Microsoft Corporation through conducting a SWOT analysis and using the findings to help in the launch of a new product.
There are many different methods to perform a market research; organizations launching new products into the market use all the different methods prior to launching a product in a market. These market research methods help in anticipating the success of any particular product that may be launched into the market.
The author states that through marketing research the business manager can both identify potential opportunities and also can effectively monitor existing sales to render needed changes. The development of internet technology has helped the market research firms to gain potential information both related to primary and secondary data.
Introduction Thomas and Yuk note that the hospitality industry is one among the fastest growing industries in the U.K. (par. 1). The growth has particularly been witnessed in London due to increase in population and international tourism. Based on this report, we intend to carry out a feasibility study of London as a potential place for fast food restaurant, which we intend to invest in.
Accuray is a radiotherapy system company that manufactures, develops and sells personalized oncology systems (Karen et al 7). The aim of the company is to set high standard of care for cancer patients to help them live better and long lives. In January, 13 2013, the company reported to have a significant rise in the adoption of its TomoTherapy system and Cyber-Knife robotic radiosurgery system (Heron and Tishler 120).
appears as if the Chinese government is in support of more commercial expansion into western China, which is of benefit to companies in terms of future regulations and the expenses of doing business.
Western China also has a supply of willing workers. They may be uneducated,
he business that focuses on different thing such as the competitor, the product, the price and also the need for its product and identifies the possible way of how to stamp its market share in its industry (Howard, 2012). It focuses on market research of different types but the
China is the second leading economy in the world along with it is also considered as one of the developing countries. Due to the second leading economy, the financial market of China will be improved. As a developing country, China will bring several market opportunities related to the homeland security as well as public security market.
12 Pages(3000 words)Research Paper
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Research Paper on topic Market research for FREE!