Marketing Research - Assignment Example

MARKETING RESEARCH Marketing research . Market research techniques are ified into broad categories such as exploratory (qualitative and quantitative), descriptive and causal research techniques. Causal deals with the cause effect relationship such as what will happen to my sales in the event that I change the mode of packaging? Descriptive research on its part is where specific answers and responses are sought, such as who are my customers? 2.1: Quantitative research is a research which looks at the whole topic of interest with a set objective. It is to say that the research seeks to inquire the prospective causes of a phenomenon and also verify its effect. In brief, it has a hypothesis or an educated guess which the study seeks to confirm as either true or false, in brief it is deductive in nature. Qualitative research does not hinge on the presence of a hypothesis so as to be started. It flows freely without any borderlines or controlling limits in the form of a hypothesis, thus it is inductive in nature (Malhotra, 2008). Qualitative market research technique involves data collection methods such as focus groups, interviews, observation and participation which are discussed herein below. Quantitative market research on its part consists of a survey which is also articulated below. 2.2: Secondary data marketing research is classified into internal and external aspects. Internal sources include profit and loss statements, sales figures, previous marketing records balance sheets and inventory records. These internal sources are prone to bias where the own internal mechanisms or researcher may seek to sugar coat their report. This could be done with the aim of painting the organisation in good light to as to attract share buyers or funding, specifically, the internal sources may increase the estimates so as to show optimism in subsequent undertakings. In principle, there could also be the aspect of measurement error, which could be due to design or default. If a researcher bases his or her findings from erroneous sources then the results and outcomes would be erroneous in equal and corresponding measure.in principle this phenomenon is referred to as statistical accuracy which could be intentional or unintentional. External data sources refer to government sources, foundation reports, media, trade associations and corporate filings. These sources are used to cover the sufficiency of internal data which may not be independently treated as reliable. The timing of these publication must be relevant in that they ought to be recent and reliable. If internal and external sources point to the same direction then the findings may be rendered reliable and sufficient to that effect. 2.3: Research validity and reliability is pegged on the concurrence of the findings to expert opinion on the same issue. This is to mention that if the input of the experts is skewed in the same direction and the research process then one would assert that the findings are valid and reliable. Similarly, if the issues in the findings concur with the second opinion or information from secondary sources then it is a good sign for the research. It is important to note and mention that common sense or common knowledge and caution would also guide as a parameter of testing validity and reliability of the findings (Slater, Mohr & Sengupta, 1995). If for instance the research seeks to establish the level of welfare of customers, it goes without mentioning that a study on weather would not suffice as relevant whatsoever. Similarly, it would be proper that the questioning approach and methods be in tune with the research process. If it on gauging level of customer satisfaction then a survey may be more appropriate form and approach of questioning. 2.4: A market in the simplest and most basic sense refers to a place where buyers and seller meet for the purpose of exchanging of goods, services and money. Research in its part refers to the systematic and holistic approach of looking into an issue or a matter with the aim and intention of arriving at logical conclusion and findings. Marketing research is thus an approach and technique used to gauge best ways to sell and buy goods or services which will yield maximum results to an organisation. It could also be used to gauge the level of welfare of customers, methods of introducing new products in the market, how to beat competition from rivals or any other issue which seeks to improve state of the business (Kohli, Jaworski & Kumar, 1993). Marketing research plan would to done in different forms and approaches so as to ensure accuracy and veracity of the result findings. Hypothetically, a business seeks to establish level of customer satisfaction, in a perfect competitive market where there are many buyers and sellers. The data would be collected from primary sources such as surveys, focus groups discussion, observations, interviews and field participation such as observation. Firstly, surveys could be structured on a one to one basis in a place where there is high traffic of people such as a shop (Fecikova, 2004). In practice, the researchers would stop random people from the stores and ask them few questions regarding to their level of welfare and satisfaction that they receive from the goods and services offered. Similarly, there is the mail surveys where mails are sent to prospective respondents and online surveys done over the internet (Kohli, Jaworski & Kumar, 1993, p. 469). Focus groups involve a moderator asking skewed questions to a group of research participants. It would be proper to get information about the stores from the customers and the staff who work at the stores. The customers would give their input relative to the level of satisfaction that they receive from the business. For instance, do they feel that the services and products that they receive meet their expectation and satisfies them. On the other hand, the employees both executive or senior employees and junior staff would answer on how and whether the services they offer to the customers are satisfactory to their clients. Interviews are also part of the marketing research technique. This is where customers and the employees would answer structured questions, which would have been prepared prior to the interview session. It is important to note and mention that the questions would revolve around their level of welfare, the quality of service and the fairness of price levels (Slater, Mohr & Sengupta, 1995). Similarly there is the issue and aspect of observation which could be done by observing the ease of queuing, the speed of service and the frequency of return of the customers. For instance if they are regular it means they are content or at the very least satisfied with the services being offered. Field trials is another method or technique which involves practical response and move such as placing new product and assessing the reaction of customers to it. Secondary sources would be expert opinion from the internet, books and journals which address themselves to the issue of customer satisfaction. Given that this is an exploratory hypothetical research work, the mode of data analysis would be seeking the commonalities in the feedback of the respondents. In case of any variation, then the Analysis of Variation (ANOVA) technique would be used clean the findings and data. Lastly, the findings would be presented using charts and graphs appropriately in line with the commonalities registered and recorded by the repondents. 4.1: Techniques to assess customer response Sales level-this is a direct technique and tool which gauges the level of customer contentment with the products and goods of a business. If the customers are happy then the sales would experience an increase or an upwards surge because customers would keep visiting the same business. However if the customers are dissatisfied they would seek alternatives and thus sales would go down (Bennett & Rundle-Thiele, 2004). Intuitively, if the number of complaints are on the rise it becomes a measure of the level of welfare. There is a positive functional relationship between the level of welfare and complaints-the higher the complaints the low the level of satisfaction and vice versa. Tentatively, we could also use survey posted below here in to gauge the level of customer satisfaction. Also important is the frequency of customer in terms of loyalty is a critical pointer because customers become loyal if the services they get are satisfactory to them. 4.2 Primary data-complete customer satisfaction survey for Sainsbury retailers Customer Satisfaction level on Sainsbury retailers I. Introduction Dear customer, Warm greetings, the Sainsbury retailers are committed to improving the level of welfare and customer satisfaction. In this short survey, your response will be highly appreciated towards the objective of improving customer satisfaction. As a sign of our good intention, attached is shpping voucher of $100 which is valid in any of our stores. Your response will be treated in confidence and will be used for this survey alone. Thank you very much for your suggestions and time. II. Questions Directions: indicate your level of approval or disapproval with each of the statement answering appropriately. 1. How many times in a month do you frequent Sainsbury retailers? Twenty times 2. Whom do you frequent with your friends, family, both? Both questions Strongly agree agree indifferent disagree Strongly disagree The retail stores are located in accessible areas Yes-7customers Yes-2customers Yes-one customer Working hours are convenient for you Yes-10 customers Pricing levels are fair? Yes-1 customer Yes-7customers Yes-2 customers After-sales services proper? Yes-2custosmers Yes-5 customers Yes-3 customers Note-ten respondents or customers participated in filling the survey 3. How would you gauge the services and general experience of Sainsbury retailers? -satisfactory 4. What could we do to improve our services and enhance your comfort? -employ more online staff to make shopping easier over the webs other than the current manual shopping mode where a customer must visit the stores physically. 5. Personal information Name: Andrew Steveson Age: 40 Gender: Male Email: stevsen@yahoo.com Thank you for participating in this survey, enjoy shopping with us. 4.3: Success of the completed survey is based on major categorization such as time, cost, response rate, relevance and customer follow up on the state of the study. Time-refers to the issue as to whether or not the survey and study was finished within the stipulate time limits. For instance if an interview session is set to take an hour, then the issue of time would be based on whether or not the time was an hour or not. If it did not take the one hour then questions as to why that did not happen would be instituted. Similarly, if the whole market research process was stipulated and designed to take one month and something goes wrong and the study takes longer, then it would form basis of inquiry. In retrospect the whole notion and concept of time is critical since it delineates what ought to have been done within the stipulated time frame and limits (Eggert & Ulaga, 2002). The whole research on Sainsbury would expect to be complete within a month, while the interviews and survey session would take approximately one hour for each participant. This is to allow for ample time for analysis of the research process. Subsequently, the response rate is another factor that cannot escape attention when addressing this issue. The term response rate refers to the percentage of people who participated in a study and is obtained by dividing the number filled and returned questionnaires against the total which were sent out to the research participants and respondents. If the response rate is high then it would be a good measure of a positive performance from the customers (Iacobucci & Churchill, 2009). Similarly, there is the sense and aspect of reliability and validity of the findings is juxtaposed against common truths and general knowledge. Equally important is the extent to which the survey findings address the research topic. This follows the argument that the study sought to establish the level of welfare of the customers. This is to mention that ten customer participated in the survey for Sainsbury retailers and did follow up on the process of the research process. Thus the response rate was sufficient or one hundred percent. Thus, at the end, it would be important to inquire whether the findings address themselves to the question of interest. Tied to the above line of thought and reasoning is the response rate of the research participants who will be the customers in this respect and line of thought. In brief, the completion rate refers to the average time it takes a customer to fill and complete a questionnaire or interview questions (Aaker, Kumar & Day, 2008). If a customer for instance takes less that the designated one hour to complete a questionnaire then the customer response will be affirmed as positive accordingly. The findings of the research are skewed towards improving the level of quality and welfare of customers of Sainsbury retailers. The overall findings have pointed to the direction that the customers are satisfied and contented with the level of satisfaction that they get from the Sainsbury retailers (Aaker, Kumar & Day, 2008). It also stems from the fact that the research findings are geared towards ensuring and confirming the level of welfare and satisfaction of the customers. For instance, the questions also seek to inquire how the customers rate the services given at Sainsbury retailers. Evaluation and application of the theory on the case of Sainsbury retailers. Given the theoretical input obtained from the survey completed above herein, it pointed to the direction that the customers have been frequent and regular to the Sainsbury retailers. It goes without mentioning that any business in the world cannot grow or expand how the Sainsbury retailers have grown to a near monopoly status without their customer satisfaction. Since the retail stores was founded in 1869, it has undergone a series and time of growth due to fair pricing and great satisfactory service. This stems from the fact that the Sainsbury retailers have over the years shown great commitment and excellence in terms of quality service. For instance the after sales services are good ensuring that the aspect of quality for the customers is covered. It is also important to note and mention that the stores that have been opened over years have been put up after careful consideration of the customers input. For instance, the survey gave the space for customers to give their opinion and input. Sainsbury retailers go through the recommendations and suggestions of the customers before expanding the store thus keeping the interest of the customers at heart even as the retail stores expand and grow. In retrospect, it would be fair to assert and mention that the statement on the website of the Sainsbury retailers is reliable and valid. References Aaker, D. A., Kumar, V., & Day, G. S. (2008). Marketing research. John Wiley & Sons. Bennett, R., & Rundle-Thiele, S. (2004). Customer satisfaction should not be the only goal. Journal of Services Marketing, 18(7), 514-523. Eggert, A., & Ulaga, W. (2002). Customer perceived value: a substitute for satisfaction in business markets?. Journal of Business & industrial marketing, 17(2/3), 107-118. Fecikova, I. (2004). An index method for measurement of customer satisfaction. The TQM magazine, 16(1), 57-66. Kohli, A. K., Jaworski, B. J., & Kumar, A. (1993). MARKOR: a measure of market orientation. Journal of Marketing research, 467-477. Malhotra, N. K. (2008). Marketing research: An applied orientation, 5/e. Pearson Education India. Iacobucci, D., & Churchill, G. (2009). Marketing research: methodological foundations. Cengage Learning. Slater, S. F., Mohr, J. J., & Sengupta, S. (1995). Market orientation. Wiley International Encyclopedia of Marketing. Read More