Training Solutions Marketing - Research Proposal Example

Table of Contents Table of Contents 1 OBJECTIVES 1 RESEARCH DESIGN 2 METHODOLOGY 3 SAMPLING PLAN 5 DATA ANALYSIS 6 TIME TABLE 7 BUDGET 8 PERSONNEL INVOLVED 9 QUESTIONNAIRE 10 ANNEXURE I 11 REFERENCES 14 OBJECTIVES In market research, objectives play a crucial role as they facilitate researchers in acquiring focused outcomes, whereas, absence of specific aims often cause ambiguity and misuse of resources (Hague, pp. 10-13, 2002). For this reason, UoH has put considerable efforts to identify specific aims and objectives that will be very valuable during the research, and will allow acquisition of required information in a significant manner. Since few years, globalization has resulted in rapid advancements and alterations in almost every field, and Training Solutions is one of the business firms that have endeavored to alter their services accordingly, in order to adjust with the globalized arena. However, economic recession is one of the most adverse effects of globalization that has resulted in enormous effects of firms and organisations adversely, and TS is one of the victims of global economic crisis. In the result, firms are now focusing to identify new sources of revenue or innovative approaches that may provide profits to the organisations (Catterall, pp. 69-76, 1998). For this purpose, UoH will facilitate TS by carrying out market research that anticipates increment in the sales of TS’ services to its existing customers. In this regard, the UoH will attempt to carry out comprehensive research on the needs and requirements of existing customers of TS, while at the same time, UoH will put efforts to identify loopholes and flaws in the TS that are complementing the effects of economic recession on the organisation. Besides anticipating increment in TS’s sales, identification of potential competitors of TS is an imperative and most significant objective of the proposed research. In order to fulfill this objective, the UoH will carry out research to identify products and services of the competitors that will allow a comprehensive understanding about their strengths and weaknesses, and in turn, will enable TS to alter its services according to the market situation. RESEARCH DESIGN Although acquisition of theoretical information is very beneficial in market research, however, the UoH will put efforts to carry out research in order to acquire information from the ground realities. For this reason, the proposed market research will benefit from both qualitative, as well as quantitative research designs (Creswell, pp. 77-85, 2003). In qualitative approach, the proposed research will use specific case studies (Belk, pp. 33-38, 2006) of TS’ competitors to acquire critical information. On the other hand, descriptive information through quantitative design will provide exploratory insights about Training Solutions that will be very beneficial for the organisation. It is an observation that many researchers (Creswell, pp. 77-85, 2003) reject the idea of focusing on descriptive designs; however, analysis and experience of the research consultancy has indicated that descriptive lot of information is the most imperative and fundamental basis for any research that is an essential component for supporting other research designs (Eldredge, pp. 83-90, 2004). Unfortunately, a number of market research companies are equating research designs with research methods, and this practice has now become another major factor of incompetent outcomes that are increasing confrontations of organisations (Bernard, pp. 78-81, 2005). Evidently, case study is the major component of the current research design that will utilize some qualitative and quantitative methods that will be part of the discussion in other section later in the proposal. Although explanatory research design can be an efficient part of the proposed market research, however, the UoH will focus primarily on the descriptive design, in order to focus on ‘what’ part of the circumstances that will subsequently facilitate in locating answers of ‘why’ part (Blaxter & Tight, pp. 20-29, 2003). METHODOLOGY Besides aims and objectives, methodology is the second most imperative component of every research, as it defines the scope and limitation of capacity of the research (Robson, pp. 23-29, 2001), and thus, the researchers are giving considerable importance to methods of the market research that will revolve around secondary, as well as primary research methodologies. Questionnaires will be the most fundamental part of primary method that will focus participants from Training Solutions, as well as from the lot of existing customers. On the other hand, analysis (Ereaut, pp. 82-86, 2002) has specified that focus on only primary method will not be effective enough. Thus, researchers will benefit from secondary research methodologies that will involve theoretical analysis of materials regarding products, services, employees, finance, etc of both TS, as well as its competitors will facilitate researchers in carrying out primary research methodologies. In addition, secondary method (Harris, pp. 91-99, 2004) will involve comprehensive scrutiny of brochures, marketing materials, and representation of TS in the market. The UoH will endeavor to identify the outlook of existing customers and clients of TS regarding the organisation that will be very helpful. For this purpose, the researchers have identified few questions for the questionnaires, available in Annexure I (draft) and Annexure II (final version). UoH has endeavored to include descriptive, and simultaneously, quantitative queries that will provide concrete outcomes rather than only limited theoretical explanations (Bryman, pp. 56-63, 2001). Besides questionnaires, the UoH will put efforts to carry out interviews that will enable the researchers in acquiring information not present in the questionnaires. In this regard, amalgamation of outcomes from questionnaires and interviews will play a significant role in fulfilling objectives of the proposed market research. One of the other factors of considering both primary, as well as secondary research methodology as results of one method will allow a comparison with the other, and thus, outcomes of the study will facilitate researchers in an efficient way to identify loopholes and flaws in the system (Babbie, pp. 11-13, 2000) that is causing confrontations in the Training Solutions. SAMPLING PLAN As earlier mentioned that the researcher will benefit from both qualitative, as well as quantitative research designs, for this reason, the proposed study will attempt to acquire both descriptive, as well as statistical information that will be valuable for the study (Welch, pp. 57-61, 2004). In addition, questionnaires will include mostly open-ended questions that will allow study in a broad perspective, whereas, some questions may require close-ended answers that will be essential while categorising the outcomes according to different clients and customers (Belk, pp. 33-38, 2006). In particular, UoH will classify the data according to customers, employees, competitors, and services of the TS. Furthermore, the researcher will consider the following method for calculating sample size during quantitative analysis (Thomas, pp. 28-31, 2003): Formula: Sample Size = Z 2 * (p) * (1-p) c 2 Where: Z = Z score (1.96 is taken for 95% confidence level according to normal distribution table) p = percentage (50%), expressed as decimal (0.5 utilized for required sample size) c = confidence interval, taken in decimal form (for ±5, = 0.05) (Caputi & Balnaves, pp. 42-47, 2001) (1.96)2 * (0.5) * (1-0.5) = 0.9604 = 384.16 (0.05)2 0.0025 Confidence Level: 95% Confidence Interval: 5 Sample Size 384 (Rounded up) DATA ANALYSIS Sampling Plan and Data Analysis relate significantly with each other, and for quantitative analysis, the researcher will utilize the abovementioned formula. On the other hand, the UoH will put efforts to analyse the data qualitatively by identifying trends, similarities, or specific differences between TS’s activities and its competitors. In addition, the proposed study will attempt to analyse the information by identifying alteration in needs, requirements, and most importantly, capacity of existing customers to afford such services of Training Solutions. In order to identify existence of significant competitors of TS, the UoH will benefit from the technique of SWOT analysis, which will focus on strengths, weaknesses, opportunities, and threats of Training Solutions, as well as its competitors. In specific, SWOT Analysis will be an efficient way of transform data into information (Malhotra, pp. 19-26, 2009). Increment of sales of TS is one of the major objectives of the proposed research, and for such purpose, it is very imperative to identify the needs and requirements of customers. For this reason, the researcher will utilize technique of Factor Analysis (Thomas, pp. 55-58, 2003) that will involve extraction and rotation of data based on Eigen values and orthogonal techniques, and outcomes of this analysis will enable the executives of TS to understand the needs and factors that can motivate their existing customers in a significant manner. On the other hand, it is an observation that statistical fundamentals such as mean, deviation, etc are of no use in questionnaires, and thus, tables and graphs can be very valuable in analysing the data (Malhotra, pp. 24-31, 2009). Similarly, the proposed research will use cross-tables and graphs to represent the information into an understandable manner based on geographical location of customers, field of customers, etc. In specific, cross-tables will allow representation of two variables, such as a specific service of TS and geographical location/field of customers/clients that will be very effective in understanding the trend of a specific field and its needs regarding services of Training Solutions. TIME TABLE Besides other aspects of research, time is an imperative factor that needs great care and consideration before, during, as well as after the completion of research, as absence of planning according to time results in lack of efficiency of the acquired outcomes (Welch, pp. 57-61, 2004). In this regard, the UoH will carry out the market research in different phases that will be easier in allocating time to each phase. Planning is the major and foremost phase of the proposed research that includes pre-analysis of information regarding the organisation and development of market research proposal that took approximately two weeks. After the approval of research proposal, one team of researchers will dedicate their time in carrying out secondary research methodology to acquire data discussed above from different sources, such as company records, magazines, websites, etc. On the other hand, another team of qualified and professional experts will put their efforts to carry out primary research methodology that will include finalising questionnaires, distribution, and collection. Interviews will be another important part of the proposed research that will be significant part of the timetable. It is anticipation that abovementioned phase will take approximately one month. Data analysis will be third phase of the proposed research that will involve steps discussed in earlier section of the proposal. It will be the most crucial phase of the research that will enable the UoH to represent their acquired data into a comprehensible format of tables, charts, explanations, etc. The UoH will take roughly three weeks to complete the process of data analysis that will begin the last phase of the market research, development of comprehensive report that will take approximately one month due to its significant importance and decisive implications. Timeline: Planning – 2 Weeks Primary & Secondary Research – 1 month Data Analysis – 3 Weeks Reporting/Presentation - 1 month Total Time - 3 months BUDGET In every research, funding is an important factor, and has now become a crucial factor in this era of economic recession (Welch, pp. 58-63, 2004). For this purpose, the proposed research will now discuss some of the significant financial aspects of the proposed market research that will provide a brief understanding of the costs expected during the research. As earlier mentioned, primary research is the major methodology of the proposed research that will require substantial amount of funds during development of questionnaire, its distribution, as well as collection (Welch, pp. 67-70, 2004). Besides questionnaires, interviews will require funds as well due to travelling requirements during the process. It is an understanding the Training Solutions has decided to invest in market research to identify new opportunities of revenues, and thus, UoH will endeavor to keep the costs down as much as it can. In brief, the complete research will cost around £3000 that will subsequently facilitate Training Solutions in increasing sales of their current services to existing, as well as potential customers. PERSONNEL INVOLVED The proposed market research will be the responsibility of UoH, a professional market research consultancy that has extensive number of highly professional expertise that will be the part of this research. UoH research consultancy has highly qualified graduates and postgraduates, and a number of business executives that have years of experience regarding the research methods and their implications on the market scenario. However, besides dedicated professionals of UoH, there will be need of cooperation and collaboration from the employees, as well as executives of Training Solutions in terms of sharing valuable information during questionnaires, interviews, etc. For such purpose, UoH will create a team of head of the departments of TS that will develop a chain of command that will be very effective during different phases of the research. Subsequently, head of departments will be responsible for allocating their employees for different tasks. In brief, following individuals from the TS will be the major leaders during the proposed market research that will work along with the research team of qualified professionals of the UoH: Mr. John Smith - CEO Ms. Victoria Mark - Director Finance Mrs. Alicia David - Director Sales & Customer Relations Mr. Alec Stewart - Director HR Mr. Mark Steve - Director Logistics Ms. Elizabeth Tom - Director IT QUESTIONNAIRE In specific, the researchers of the UoH have attempted to create some questions that are focusing the aims and objectives discussed earlier in the proposal. In this regard, final version of the questionnaire for existing customers will consider some of the following draft points that will facilitate Training Solutions in increasing their sales: Period of association with TS Frequency of considering TS during a year Satisfaction with the training Booking/Customer Relations Quality Content Faculty/Trainers Comfort Duration Cost Logistics/Training environment After-sales support Implementation of skills learned during the TS courses/trainings at workplace Lastly, Annexure I includes the final version of questionnaire for its distribution to existing customers of TS. ANNEXURE I TRAINING SOLUTIONS (TS) Questionnaire for Existing Customers Please take your time to answer the questions that will help us in improving our products and services, and will be valuable in providing you a higher quality in the future. Organisation’s Name ___________________________________________ Organisation’s Location ___________________________________________ Number of Employees ___________________________________________ Name of Industry/Field ___________________________________________ When did you last consult TS to acquire its products or services? 6 months ago _____ 1 year ago _____ 2 years ago _____ 3 or more _____ What is the frequency of arranging training for your employees/executives? 6 months _____ Annually _____ Every 2-3 years _____ 4-5 years _____ Your organisation looks for training solutions and courses for only New Employees/Equipments _____ Existing Employees/Equipments _____ Both _____ Rate different aspects of training solutions available at TS Customer Service/Relations Excellent _____ Good _____ Satisfactory _____ NI _____ Quality Excellent _____ Good _____ Satisfactory _____ NI _____ After-sales Support Excellent _____ Good _____ Satisfactory _____ NI _____ Cost Very Expensive _____ Expensive _____ Reasonable _____ Cheap _____ Rate different aspects of training courses available at TS Customer Service/Relations Excellent _____ Good _____ Satisfactory _____ NI _____ Content Excellent _____ Good _____ Satisfactory _____ NI _____ Faculty Excellent _____ Good _____ Satisfactory _____ NI _____ Training Environment Excellent _____ Good _____ Satisfactory _____ NI _____ Cost Very Expensive _____ Expensive _____ Reasonable _____ Cheap _____ TS solutions/courses brought changes in your organisation Very positive _____ Positive _____ No change _____ Negative _____ TS solutions/courses were according to your organisational needs/requirements Great Extent _____ Some Extent _____ No Extent _____ Required Changes _____ Will you again consider TS for your IT solutions/trainings in the future Yes _____ No _____ Maybe _____ Don’t Know _____ If yes, then state two major reasons of your decision _______________________________________________________________________ _______________________________________________________________________ If no, then state two major reasons of your decision _______________________________________________________________________ _______________________________________________________________________ Suggestions/Feedback _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ We would like to thank you for taking out your valuable time to fill in the questionnaire. We believe that your responses will facilitate us in enhancing our quality and altering our presence according to your needs and requirements. Research Department Training Solutions REFERENCES Babbie, E. (2000). The practice of social research, Wadsworth. Belk, Russell W. (2006). Handbook of Qualitative Research Methods in Marketing. Edward Elgar Publishing. Bernard, Harvey Russell. (2005). Research Methods in Anthropology. Rowman Altamira. Blaxter, C.H. & Tight, M. (2003). How to Research, Open University Press. Bryman, A., (2001). Social Research Methods. Oxford. Caputi, Peter & Balnaves, Mark. (2001). Introduction to Quantitative Research Methods. Sage Publications. Catterall, Miriam. (1998). “Academics, Practitioners, and Qualitative Market Research.” Qualitative Market Research. Volume 1, Issue 2, pp. 69-76. Creswell, John W. (2003). Research Design. Sage Publications. Eldredge, Jonathan D. (2004). “Inventory of Research Methods for Librarianship and Informatics.” Journal of the Medical Library Association. Volume 92, Issue 1, pp. 83-90. Ereaut, Gill & Callingham, Martin. (2002). Qualitative Market Research. Sage Publications. Hague, Paul N. (2002). Market Research. Kogan Page Publishers. Harris, Phil. (2004). “High-tech Corporate Branding.” Qualitative Market Research. Volume 7, Issue 2, pp. 91-99. Malhotra, Naresh K. (2009). Marketing Research. Pearson Education. Robson, C., (2001). Real World Research, 2nd edition. Blackwell. Thomas, Robert Murray. (2003). Blending Qualitative & Quantitative Research Methods in Theses and Dissertations. Corwin Press. Welch, Catherine. (2004). Handbook of Qualitative Research Methods for International Business. Edward Elgar Publishing. Read More