Market Research Implementation Plan for Wal-Marts Business Venture in India - Essay Example

 Marketing Research Implementation Plan Survey Instruments In order to do an effective market research for Wal-Mart’s business venture in India, questionnaires and Likert Scale will be used as the most effective survey instruments for conducting the research. These instruments will be used to gather data from market experts and analysts and potential consumers of Wal-Mart’s products and services so that the company will be aware of its market and market segments which are most attractive for its business success.

The two survey tools that will be used for the market research in the Indian market are presented in the following section. Questionnaire 1. Are you aware of Wal-Mart? Yes No 2. If yes, how did you know about Wal-Mart? From a friend Online Sources Television Adverts Magazines Newspapers 3. Do you think that Wal-Mart has a chance for business success in the Indian market? Please explain ………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………….

…………………………………………………………………………………………………………………………………. 4. Which group of consumers is likely to utilize Wal-Mart’s products and services in India? The youth Middle Class Working Class Elite 5. Are there competitors who are likely to threaten the success of Wal-Mart in the Indian market? Please explain your answer. ……………………………………………………………………………………………………………………………….. ………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………. 6. Briefly describe the factors you consider to have an influence on the business success of Wal-Mart in India …………………………………………………………………………………………………………………………………….

…………………………………………………………………………………………………………………………………….. …………………………………………………………………………………………………………………………………….. 7. What challenges do you think Wal-Mart will face in the Indian market in its need to gain a competitive advantage? ………………………………………………………………………………………………………………………………………….

………………………………………………………………………………………………………………………………………….. ………………………………………………………………………………………………………………………………………….. 8. Are there business opportunities within the Indian market that Wal-Mart will invest upon for growth and business success? Please explain your answer ………………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………………….

…………………………………………………………………………………………………………………………………………. Likert Scale 1. Wal-Mart has a chance for business success in India Strongly Agree Agree Neutral Disagree Strongly Disagree 2. Wal-Mart’s goods and services are very Competitive Strongly Agree Agree Neutral Disagree Strongly Disagree 3. The corporate image within Wal-Mart is attractive Strongly Agree Agree Neutral Disagree Strongly Disagree 4.

Wal-Mart has an appropriate business strategy Strongly Agree Agree Neutral Disagree Strongly Disagree 5. The marketing communication used by Wal-Mart is effective Strongly Agree Agree Neutral Disagree Strongly Disagree 6. Wal-Mart has an effective management Strongly Agree Agree Neutral Disagree Strongly Disagree 7. Wal-Mart Makes has friendly employees Strongly Agree Agree Neutral Disagree Strongly Disagree 8. Wal-Mart-Adheres to its corporate social responsibility Strongly Agree Agree Neutral Disagree Strongly Disagree 9.

The business environment in India is favorable for Wal-Mart Strongly Agree Agree Neutral Disagree Strongly Disagree Sampling Procedure Sampling procedure for the market research will be targeted at selecting respondents of the research from the study population. The sampling procedure will therefore start with the identification of the study population. In this case, the study population comprises of experts, market analysts and potential consumers of Wal-Mart’s services and products. Sampling will be used because it is an effective method or approach of selecting a manageable group of study subjects that will be the sources of primary information and data which will inform the market research (Zhang & Zhang, 2012).

Both purposive sampling and random sampling techniques will be employed in the study. Purposive sampling is used to target a specific group of respondents for a research (Zhang & Zhang, 2012). Therefore the purposive sampling technique will be used to select respondents among market analysts and experts who would give accurate data, credible and reliable information on the Indian market where Wal-Mart plans to venture into. A purposive sample of 25 respondents will be selected for the market analysis.

This number of respondents will be appropriate considering that the study population among market experts and analysts is relatively lower as compared to the respondents among potential consumers of the company’s products. A random sampling technique will be used to select respondents among the potential consumers of the company’s products and services. Random sampling technique will be used because it prevents possible bias in the selection of respondents of a market research. In the random sampling technique, 75 respondents among these potential consumers will be selected.

These consumers will have an equal chance of being selected for the study which means that they will be no discrimination in the selection of the sample. Therefore a total of 100 respondents will be selected for the market research. After the selection of the respondents they will be contacted on mobile phones and given details of the research in addition to obtaining their consent for the participation in the study. The time for the study, their roles and the extent to which they will participate in the market research will be revealed to them.

This will pave way for active collection of data which involves presenting the research tools to the respondents. Reference Zhang, J. J., & Zhang, C. C. (2012). Sampling and sampling strategies for environmental analysis. International Journal of Environmental Analytical Chemistry, 92(4), 466-478