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Market Research Primary Data | Report

Added on - 04 Feb 2020

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BUSINESS DECISIONMAKING
ContentsINTRODUCTION...........................................................................................................................................3TASK 1..........................................................................................................................................................31.1Plan for collection of primary and secondary data......................................................................31.2Research methodology and use of sampling frame.....................................................................31.3Questionnaire for research..........................................................................................................4TASK 2..........................................................................................................................................................52.1 Analysis of data using summarizing values........................................................................................52.2 Analysis of values produced by statistical tools.................................................................................62.3 Calculation of standard deviation......................................................................................................62.4 Calculation of correlation and quartile..............................................................................................7TASK 3..........................................................................................................................................................83.1 Analysis of primary data....................................................................................................................83.2 Trend line.........................................................................................................................................103.3 Included in PPT................................................................................................................................113.4 Formal business report....................................................................................................................11TASK 4........................................................................................................................................................124.1 Use of appropriate information processing tools............................................................................124.2 Network diagram.............................................................................................................................124.3 Project evaluation techniques.........................................................................................................15CONCLUSION.............................................................................................................................................15RFEFRENCES..............................................................................................................................................16Books & journals........................................................................................................................................16Table 1 calculation of mean median and mode...........................................................................................6Table 2 Calculation of standard deviation...................................................................................................7Table 3 Calculation of quartile.....................................................................................................................8Table 4 Calculation of NPV........................................................................................................................16Table 5 Calculation of IRR..........................................................................................................................16YFigure 1 Do you consume fast food?.........................................................................................................10
Figure 2 Which type of fast food you often prefer to consume?...............................................................11Figure 3 Do you think that increase in price may lead to fall in demand for fast food in market?............11Figure 4 Demand for fast food is highly sensitive to change in price of product.......................................12Figure 5 Trend line.....................................................................................................................................13Figure 6 GANTT chart................................................................................................................................16Figure 7 Network diagram.........................................................................................................................16
INTRODUCTIONIn order to open a new business firms needs to do lot of research and data analysis. They alsoneed to conduct primary research in order to understand current market conditions. In this report inorder to conduct market research primary data is collected and its data is analyzed. Apart from this,statistical tools are also applied on firm cash flows in order to analyze company performance in propermanner. At end of report, network diagram is created and path that an organization must follow inorder to complete a project is determined. Along with this project evaluation technique is also applied inorder to determine viability of the project.TASK 11.1Plan for collection of primary and secondary dataPrimary data is a data that is collected for first time by the researcher and same data is never collectedby anyone. On other hand there is a secondary data that which is already collected by someone and areavailable on books, journals and other sources of information. In order to conduct research for Muranoboth primary and secondary data will be collected by the researcher. This will be done becausecollection of secondary data help researcher in comprehending past conditions and on basis of thatunderstanding questionnaire can be prepared in proper manner by the researcher (Cummins, 2013).Hence, for conducting research both type of data will be collected by the researcher. In order to conductsecondary research data will be collected from newspapers books and journal. In order to do primaryresearch sample of 50 people will be taken that resides in different borough of London. In this wayentire research will be carried out for Murano.1.2Research methodology and use of sampling frameSampling techniques help researcher in conducting research in legitimate way. There are manytechniques of sampling and some of them are discussed below.Simple random sampling-This is commonly used research technique under which all sampleunits are taken on random basis as sample units in sample. This method is used when specifictype of sample units is not needed for conducting a research (De La Cal and Cárcamo, 2006).In our research people will different income level and demographic features are included anddue to this reason this method cannot be employed in research.Stratified sampling-In this method entire population is divided in to several parts and fromthese stratas sample units are taken by the researcher. This method is used when researcherrequire different type of respondents in research. Different sample units are taken in theresearch in order to make sure that it will produce valid results. Hence, this sampling method iswidely used by the researchers (Hozo, Djulbegovic and Hozo, 2005).Cluster sampling-It is a sampling method in which specific geographic area is divided in toseveral parts and from same all sample units are taken by the researcher. This method is variantof stratified sampling because in above given technique units are taken by dividing population
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