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MKT202 - Assignment on Marketing Research Essentials

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Kaplan Business School Pty Ltd

   

Marketing Management (MKT202)

   

Added on  2020-03-07

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MKT202- In this paper, a deductive approach of research is followed and it is involved in developing hypotheses based on the existing theory, and then a research strategy will be designed for testing the hypotheses.

MKT202 - Assignment on Marketing Research Essentials

   

Kaplan Business School Pty Ltd

   

Marketing Management (MKT202)

   Added on 2020-03-07

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Running head: MARKETING RESEARCH ESSENTILSMarketing research essentialsName of the StudentName of the UniversityAuthor note
MKT202 - Assignment on Marketing Research Essentials_1
MARKETING RESEARCH ESSENTIALSResearch approachIn this paper, a deductive approach of research is followed and it is involved indeveloping a hypotheses based on the existing theory, and then a research strategy will bedesigned for testing the hypotheses (Miller et al. 2013). In this research the deductiveapproach has been taken to avoid the risk factors in the research, because, this approachexplores a theory that is known and then tests whether the theory is valid in that particularcircumstances or not.Research methodIn this paper, the research would be in a quantitative approach and in this research oneor more hypothesis can be found. Data is collected and a proper statistical analysis isprovided (Lai, Chan and Lam 2013). This analysis allows determining to what extent there isa relationship between two or more than two variables (Vong, Lai and Li 2016). In thisresearch, objectivity is the key, the research ensures all the measuring has been done for theassignment, and those are considered prepared and controlled in advance. The focal point ofthis research is on the deductive reasoning that tends to move from general to specific (Vong,Lai and Li 2016). It is worth mentioning that in this research, almost 800 people are involvedand they are the representative sample of the research, as they were interviewed for theresearch work. These people were questions regarding the position of the casino as whetherthe casino would be able to attract gamblers or not, and whether the managerial body shouldretain the old name considering the brand value of the previous organization. Apart from that,some general inputs were taken from them so that the management can work on them tomake the organization reach the height of success within a short span of time (Prentice andWoodside 2013).
MKT202 - Assignment on Marketing Research Essentials_2
MARKETING RESEARCH ESSENTIALSSample size and selectionFor this research, total 800 interviews were taken and the average interview length is20 minutes and the average completion rate is 0.62 per hour. No open-ended questions wereasked (Prentice and King 2013). The questions were asked in the interview were based on thefactors like whether the position of the new casino is good to attract customers or not.whether the previous name Fun City should be replaced with a new one, or it should beretained for its brand value, and finally if the name has to be changed what could possibly bethe new name for the organization (Lee 2013).Quantitative researchIn this paper, usage of sampling technique is followed where the findings areexpressed numerically and the mathematical manipulation enables to determine or estimatethe future quantities or events (Lee et al. 2013). As the casino is redeveloping thisquantitative research method would be best suited for this paper to take the correct decisionsat accordingly. The advantage of quantitative research is based on the deductive reasoningthat moves from general to specific (Tian, Zhang and Zou 2014).Research toolsIn this paper, interviewing 800 people is used as a tool of research and thequestionnaire is provided in the appendix. Each individual was asked a few questions thattook nearly twenty minutes and no open-ended questions were asked in the process. Afterevaluating the answers of the questions asked, the strategists should consider the views ofthose comments and strategize their work accordingly (Prentice and Woodside 2013). Thelocal residents were interviewed in this process and some gamblers were also asked questionsfor the best outcome. It is a matter of fact that using sampling and data collection from thelocal residents and big or small gamblers might not be very effective in every case (Prentice
MKT202 - Assignment on Marketing Research Essentials_3

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