Market Research: Activities, Expectations, and Consultant Selection

This report provides a detailed analysis of managing market research, focusing on key elements, specific requirements, and the process of selecting external consultants. It outlines the steps involved in gaining funding approval for market research projects, emphasizing the importance of aligning with influencers and understanding business requirements. The report further explores the activities of a market research program, including methodology, sampling, data organization, analysis, and reporting. It highlights the expectations of a marketing organization in communicating research findings and ensuring stakeholder satisfaction. Additionally, the report covers ways of qualifying external consultants, the process of contracting them, and methods for implementing modifications to the research process. The assignment demonstrates an understanding of market research principles, consultant management, and the practical application of research methodologies within a business context.

MANAGING MARKET
RESEARCH
Running Head: MANAGING MARKET RESEARCH 0

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Table of Contents
Task 1.........................................................................................................................................2
Elements.................................................................................................................................2
Main elements........................................................................................................................3
The process to gain funding approval....................................................................................3
Task 2.........................................................................................................................................4
Specific requirements.............................................................................................................4
Products..................................................................................................................................4
Ways of qualifying external consultants................................................................................4
Process and elements..............................................................................................................5
Task 3:........................................................................................................................................7
Activities of market research program...................................................................................7
Expectations of the marketing organization to communicate................................................8
Task 4:........................................................................................................................................8
Accuracy of information and determined results...................................................................8
Comparison........................................................................................................................of 9
Stakeholder satisfaction..........................................................................................................9
Review of research process..................................................................................................10
Process of implement modifications....................................................................................10

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Task 1
Elements
This is important to customize the document for research contractor according to a
situation, policy and procedure document that tend with core elements (Schoenherr &
William-Jones, 2011). This support to identify the document and provide the necessary
information:
 Clear title
There should be limited words that ensure that users can understand with the level of
reading.
 Policy description by a filling number
Introduction or description orients users towards purpose and policy scope. A tracking
or filling number ensure that title elaborate document content.
 Key dates with policy purpose
This includes the approval date of the original document, yearly review date, and
current version date. These are very important for tracking the versions around other and
legislative updates. The purpose of elaborate details for the existence of policies. This
consists of concerns like regulatory and legal requirements or conflicts with policy aims to
avoid.
 Scope and policy statement
This contains departments or roles that policy covers. The core document specifically
covers the lengthiest part. Policy statement specifies that the audience of the policy with the
restrictions and conditions for applying the exclusions and expectations.
 Responsible party or responsibilities
This indicates the department, role or group that maintain the policy. Some of them
are governed by the regulations that section lists roles responsibility for policy executing.
 Definitions and history
It describes jargon, key terms, and ambiguous terms. It explains key terms in a
separate definition part as the first mention in the policy or procedure text that ensure

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everyone has the same understanding of terms. These are very important for the terms that
have multiple meanings. It is very important to know the history of considerate changes.
 Keywords with the related documents
The online document consists of keywords related to the user policy of search.
Policies, procedures, forms, regulatory documents, guidelines for references. Web-based
documents is a policy search feature.
Main elements
For the research contractor, all the elements are very important. This is important to
obtain effective market research findings (Reijonen, 2012). This ensures market research in
actionable customer’s insights. Developed research plan consists of several distinct
components. This includes the construction of a sampling plan that ensures collected data is
reprehensive of the overall target population. This process involves to identify and obtain a
collective plan. Definition and history are the main and important elements that provide
surety about the understanding of terms. This is very important to describe multiple
meanings. These are very important to know the considerate change according to the business
requirements.
The process to gain funding approval
To gain funding approval to implement the market research project plan and work
plan consists of continue moving with market requirements (Unnikrishnan, 2013).
 Influencers and their needs
This is a first step to promote and identify key influencers to gain insights into the
organization climate by approval process and investment appraisal factors.
 Organizational climate and approval procedure
To deliver the best outcome in high growth areas of business it transforms rapidly and
dynamics as the world changes around them. This include continues the process of improving
efficiency and efficacy that reach new levels of functional excellence. This is important to
ensure key influencers are in agreement according to the procedure.
 Business requirements with alternatives

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Business analysis skill is very helpful to understand the business requirement and
direction. Synergies with the portfolio include moving of funds between projects within order
to use fund more effectively for a project.
 Firm statement of work
This encompasses all aspects of the procurement and presents documented procedures
to negotiate that include sourcing and legal teams at each phase that secure approval.
 Pre alignment with influencers
This is important to line up with the colleagues that lined up for approval that had
their project approved already. Realignment with influencer helps to identify and approve a
project without surprises on the big day.
Task 2
Specific requirements
The external consultant contracted to bear the evaluation and develop the assessment
design and improved the design outline according to terms of references (Berssanety &
Carvalho, 2015). Following are the specific requirements for an external consultant to follow
in the market research project plan.
 Follow the client requirements
This is important to understand the objectives with the expectations of the client as
day to day work carried out. Develop and maintain a procedure of communication to support
the relationship with management and establish expectation and follow up the requirements.
 Dealing with resistance
One of the important requirement of consulting is to cope with resistance from
colleagues, clients, third party, and so on. This procedure requires new ideas within the
presentation that lead to change.
Products
This is an Australian based multi-national drop shipping organization of furniture,
computers, bedding, furniture, consumer electrical and communication products. It promotes
products like modems and printers. This organization also provides the product of Compaq

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PC. This offers whitewoods, stationary, small appliances and IT products like a mobile
phone. The organization sells product from sustainable timber (Mouratidis, 2013).
Ways of qualifying external consultants
Following are the ways of qualifying external consultants from there potential
consultants could be selected (Suganthalakshmi & Muthuvelautham, 2011).
 Unimpeachable character
Effective external consultants must be an individual with the highest character.
External consultants must be a consummate professional. The external consultant must be
prepared to place the best attention of the customer ahead of their particular. For example, an
external consultant must care about their clients.
 Creative skill of problem-solving
The problem-solving skill of consultant with creativity provides the steps to solve the
problem by taking advantage of opportunities. They hold outstanding analytical ability and
skill to synthesize thoughts readily to reach conclusions.
 Excellent interpersonal skills
The consultant gets success by developing the trust-based relationship with the
comfortable revealing of intimate details of the business. The capability of an external
consultant creates tremendous value.
 Solid experience
This is essential that the consultant should have experience with the opportunities or
challenges. It is important to know about the specific industry and people as that bring
experience to address the type of issue faced.
 Outstanding communication skills
This is necessary that an external consultant should have articulate. There should be
excellent communication skills, both in writing and orally. This is two-way street. The most
important capability to speak distinctly and write persuasively is the ability to listen. External
customer should have the quality to improve business with understanding the challenges.
Process and elements
It is important to follow the procedure and elements to select and contracting an
external consultant (Manning & Roessler, 2014). They are as follows.
 Initial brief

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This is important to develop a brief and written document for describing the business.
By explaining and describing the problems, and challenges will support to get measurable
achievement. To states the role to the external consultant it will be the easiest thing to set out
timing for starting and finishing the project. This is essential to agree with the provisional
budget and employ a primary interaction to selection exercise.
 Scan for expertise
Potential consultants list by use of consultant's knowledge, skills, and experience with
initial criteria of selection of the external consultant. The list will include the review with
prior use of consulting firms and specific consultants. By seeking referrals from within the
contacts network and checking with the relevant professional and trade associations. This
information research will result in a list of sites may be broaches and phone call notes.
 Shortlist
In step two information obtained in 2 steps should be review by the expertise of
consultants and firms identifies scan and review that lead to fresh visions and included in an
initial brief to increase it. Extend criteria of selection beyond the knowledge, skills, and
experience required and consider specific locations, qualification, even availability (as a
project may requisite a consultant that may requisite a consultant that can come out and in the
relatively short notice).
 More information
Circulate the increased fleeting as a non-binding article towards the shortlisted
consultants. Arrangement to meet debate and explore needs and rightness to address them. In
the meeting picture them functioning for you and measure chemistry by the team. It is
important to keep ears and eyes open for additional insight that increases brief. At the close
of the meeting, it is essential to confirm that appropriate insurance in place – Public liability,
professional indemnity, and establish the glassy of protection for each.
 Request proposals
A new section of brief known as a review process and set out the procedure that will
track to assess the effects of the referring project against purposes. By formally issue the
transitory to enrolled consultants and appeal to suggest over a one to two week period. By
permit to increase any clarification during that time period. If it is identified that any
important information has missed than need to again issue a corrected brief by a set of a
revised limit. Anyone request for more time than it is important to believe to genuine reasons
that are a good option to allow the further shortlisted consultant the similar amount of extra

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time too. When the suggestions are in then checked for comprehensiveness that include needs
approach, work program, expenses, fees, and team.
 Make a decision
By meeting consultants and assess compatibility, professionalism, enthusiasm, and
style. It also includes assessing their date of performance as they have been acting in line
with expectations. Rank and select preferred external consultant include six criteria are
understanding, personnel, specialization, skills and experience, innovative skills, and value
for money.
 Finalize contract
By reviewing the proposed work program and finalize agree on option. Work that
enterprise or consultant can perform that depends on outcomes and results.
Task 3:
Activities of a market research program
Following are the steps of market research procedure that make the success towards
expectation in place of exception.
 Right methodology and design
Process of market research with a design or methodology support familiarity by
analysing problem within the premise. This helps to identify the problem and reflect that
variables like scope, budget, timeline, can limit certain options.
 Sampling plan
Problem and methodology identify the next step to design a sampling plan and
includes to identify participants of research by establishing the queries that will be asked.
 Organize data
Market research plan needs carefully execution and collection. Automation is a big
portion of a procedure that depends on methods that are manual components and can be
complex and time-consuming. This should be handled professionally. It is important to
ensure that data hygiene by the process that is critical and a conclusion will be skewed.
 Analyse the finding
After gathering of data the next step is to crunch the numbers and translate them into
actionable insights and business intelligence. There are many techniques and model that is

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based on the specific variables of the project. The data is developed in a series of intervenes,
insights, and implications.
 Reporting
The market research must be presented to many stakeholders groups in a manner that
each find is relevant and meaningful. Adjustment should be made to providing the value to
users towards research.
Expectations of the marketing organization to communicate
There has been a welcomed shift in strategic thinking that emphasize collaborative
work circles. This makes a sense from a strategic standpoint, a collaboration between two
departments like customers service and marketing that is essential. It is important to
capitalize on the internal synergy that includes the following reasons to get marketing and
customers to work together.
 Same goals
Marketing should focus to bring customers in a funnel that customers service work to
retain them. The organization has more customers than competitors and it considered that it
cost more than six to seven times more to retain a new customer than an existing one. It
demonstrates important customer service to a marketing team. This is essential to improve
retention strategy and maintain marketing and branding initiatives by each point and built a
severe impact on the bottom line.
 Customer service enforce brand
Advertising and marketing initiatives draw customers and set experience expectation
and make positive promises about service and quality. It is important to properly educate
customer’s service team by an initiative of brand promises and promises that the marketing
department delivers the expectations.
 Collaborative communication
Communication between departments is important to keep branding and messages of
marketing on target. The department of customer service needs to share feedback of
customers with a team of marketing to ensure external messages adapt to change the
preference of the customer.
 Support for social media

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More than 75 percent of marketers use social media to identify customer’s service as a
primary platform. This presents the sense that customer service and marketing work together
closely by a monitor and responds to online inquiries and complaints.
Task 4:
Accuracy of information and determined results
This is necessary to evaluate sources and information with the references and purpose
to use a research paper based on references and should be credible. This is important that
people will be impressed by their opinions with accurate and possible facts.
 An agenda
Proper report and media outlet has a slant to describe the stories of a report by
determining the truth.
 Credible sources
Many sources of information are credible than others and have an important and
established a strong reputation for dependable facts and accuracy. Organizations have a great
deal of credibility. Information present facts that carry a lot of weight. Research and studies
provide a credit score on the base of interest in the outcome. The accuracy should be done
based on research and experiments conducted in an objective, careful, and specific manner.
These are corrected in a way that related to research and experiments.
Comparison
The first comparison is based on the form. Research and research objectives are
intentions statement. The research comes first then the objective is formed. Research is a
structured analysis of a problem that attempts to get a solution. Research objectives are a
concise, clear statement that delivers direction to examine variables. Research is very
important to get solutions with clearly defined objectives. Research objectives focus on the
way to measure variables by identity and describe them.
Stakeholder satisfaction
To ensure the success of a business as a marketing manager will identify the group of
employees that potentially affect work in progress negatively or positively. List of specific
interest will help to anticipate stakeholder response at subsequent checkpoints.
 Online survey

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By using a survey to get and measure stakeholder satisfaction by organization
progress includes selecting a tool like a survey monkey, Zoomerang, or qualities to create and
deploy online survey. This method of assessing the satisfaction of stakeholder allows to
create a sophisticated chart of response and analyse input towards decisive action.
 Running focus group
Running the sessions of brainstorming to get input from stakeholders includes
scheduling facilitating and meetings discussion about the progress of the team towards
achieving the goals of the business. This includes the outcome like prototype products. This
effective focus includes planning including agenda, specific queries to ask shareholders that
encourage collaboration and calling for action from participants. It is necessary to encourage
all participants to provide candid input that reflects perspective. This method allows getting
the satisfaction of stakeholder with a process to allow the marketing manager to get timely
input for all stakeholders by avoiding costly mistakes or rework.
 Interviewing stakeholders
This allows the project manager to get feedback confidentially from people that can
impact a business. This opportunity should be used to handle both positive and negate input
in a measured environment. By taking the time to interview stakeholder helps to receive
potential sensitive information out of public opinion like a recommendation.
Review of the research process
Conducting a review is usually recursive meaning that finds to repeat steps out of
order. This is a good sign and relates more specific aspects. This should be guided by a
central research question. It is not a collection of loosely related studies and represents
background and research development that relate to specific research and analyzed in a
synthesized way. It should include writing down a term that is very necessary for searches
and present opportunities to discuss comprehensively with the database. It should include a
comprehensive database like world Cat and theses. Abstract of research save time and
improve the environment within the organization.
Process of implement modifications
The process to implement modifications includes a change to a system that manages
system ability and performance. This is very significant in a decentralized network-based
atmosphere. Following are the plan to manage the modifications. It is important to request

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changes that are processed and organized for implementation and applied the norms for the
changes that effect problems. It will be pursued to monitor the efficacy of the modification
management discipline. Monitor and implement the change according to the desired outcome
with the application that affects the changes.