Market Research Implementation Plan: Research Tools Paper. Wal-Mart in India. - Essay Example

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Market Research Implementation Plan: Research Tools Paper. Wal-Mart in India.

Thus, the data is more reliable and tailored (Dillon, Madden, & Firtle, 1994) to the issue. On the other hand, research tools such as focus groups will also prove productive in accumulating second hand data that has already been acquired and published from some other purpose. Although, it is of a general nature; however, publications can provide insight into statistics, demand trends, demographics etc. In addition, this will be far cheaper than primary research methods in terms of both, time and money. In addition, information from relevant industry and trade associations should be gathered as they can provide vital data on industry specific needs. Usually, such associations publish statistical data that reflect the industry’s profits, economic trends, sales, ratios, and the like. Therefore, information through various industry publications should be obtained in order to identify the sales figures of various products in various departmental stores. Industry specific magazines and publications are a rich source of information of businesses and markets in a sector. ...Show more

Summary

Both, primary and secondary research tools will be utilized to determine the extent and kind of demand for Wal-Mart in India. This shall be more productive as primary research tools such as interviews, questioners; observation …
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