Critical Discussion in Marketing - Research Paper Example

It was determined that a sampling universe was anything & everything that will be examined for statistical analysis. In the case of a Sat-Rad product, this would include people who would use our products and those who would use a similar product. Building on this precious point we determined who a ‘User’ would be (Any person that would use a Sat-Rad or competitive product) with this information in hand we would be better positioned to make research studies in the future, and determine who would be the subject of much of our future research.

The next major topic to be covered pertained to calculating a budget allocation for a project. The major outcome of this analysis was a better understanding of cost-benefit analysis. Ultimately we do not want to waste our entire budget on a research study without a firm understanding of we will generate positive results. From this perspective, this question also served as a critical thinking exercise insofar as I needed to determine the best course of action given the available resources and make special consideration for the ramifications of my decision. I determined that a ‘test the water’ strategy could effectively be employed, wherein a second small-scale research study will be conducted to see if our previous research was relatively accurate and if so, we would expand our sampling population across the nation. Although it may be the case that I would like to be able to examine a larger population we need to get the most out of the research based on the budget available.

After this point, I was made responsible for developing a plan based on the results of the research. With this information in hand, I determined that to expand our product line across a consumer base that is not “Non-Price Sensitive early adopters”. We would have to gather more information on these new clients. What this translates to is generating a research study on potential new clients.

The outcomes of this series of projects were the realization that without accurate information on our clients, any sales and marketing efforts would be useless. It can be the case that without enough research in hand, poor decisions can be made, with ultimately destructive consequences.