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Business - Statistics Project Example

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Task: Business proposal on the advertising strategies and importance of advertising to business Globalization has resulted tothe shrinking of the market, which has become accessible by individuals worldwide. Consequently, this has generated competition in the business sector hence bringing competition. Furthermore, for business entities to survive in highly competitive areas, in the market, a need to boost organizations’ products and services arises. Advertisement refers to a system of communication that dissimilar organizations use in encouraging and conversing with people to support or buy their goods and services. In addition, advertising strategy refers to an operation that an organization conducts to converse information concerning services and products to potential customers in order to induce them to purchase such products (Tellis 1).
In contemporary organizations, the main aim of advertising strategy is to increase awareness of organizations’ services and products, upsurge total customers and competitors and finally, to fosters the business image of an organization. For any business entity interested in succeeding, advertisement is very vital because through it, an organization is capable of getting new customers as it increases its total consumer base. Secondly, advertisement is important as it retains the organizations’ customers thus avoiding their diversion to other products. Thirdly, advertisement escalates the total company sales because when a company advertises definite commodity, it will explain to individuals why that commodity is better than its substitute hence enhancing many people to prefer their commodity. Finally, advertisement leads to fortunate change in a company’s’ products hence increasing its total sales (Tellis 3).
Research Objectives
The main objective of carrying out this business proposal is to determine the role that advertisement plays in an organization. Secondly, the proposal intends to investigate the effect of advertisement to consumers’ consumption of goods and services (Tellis 4).
Research Question
i. What is the main purpose of advertisement?
ii. What is the outcome of advertisement to consumers?
iii. How does advertisement affect goods and services of a given organization?
Research hypothesis
i. The main purpose of advertisement to an organization is to improve its total customers as well as retaining them and finally increasing their sales of goods and services.
ii. Advertisement increases total consuming of definite goods and services because consumers learn on how advantageous definite commodities are in comparison to others.
iii. Advertisement increases the total purchased goods and services of an organization because through it, consumers tend to learn the importance of definite commodities hence increasing their demand.
Population Sample
My business research will entail ten business organizations in U.S that advertise their goods and services together with other ten business organizations that do not advertise their products. I will conduct random sampling from a list of both organizations that advertise their products and those that do not. I will select ten organizations from each list and collect information concerning my research questions from these organizations before concluding on my hypothesis.
Data collection methods
In collecting my research data, I will apply dissimilar data collection methods, which include; use of questionnaire and interviews. I will use both closed and open-ended questionnaires. Then clarify all questions to interviewees in order to elude misinterpretations. Thereafter, allow them to express their views without any form of biases. In addition, I will conduct personal interviews with the organizations managers’ while public interviews with other business organization workers. Finally, I will conduct personal observation through observing the progress of all companies that conduct advertisement and those that do not.
Statistical techniques used
I will apply multistage sampling technique because it will enable me in collecting large amount of data representing all the companies that advertise their products and those that do not. I will randomly choose the companies that my research will base on all over U.S hence balancing and getting accurate results of my study.
Work Cited
Tellis, Gerard. Effective Advertising: Understanding When, How, and Why Advertising Works.
Thousand Oaks, CA: Sage, 2004. Print. Read More
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