Research and Decision Making for Business

Added on - 03 Mar 2020

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Running head: RESEARCH AND DECISION MAKING FOR BUSINESSResearch and Decision-making for businessName of the student:Name of the university:Author note:
1RESEARCH AND DECISION MAKING FOR BUSINESSTable of contentsSampling requirements....................................................................................................................2Sampling options.............................................................................................................................3Sampling plan..................................................................................................................................4Target population.........................................................................................................................4Sample frame...............................................................................................................................4Sampling method.........................................................................................................................4Process for deriving the sample size............................................................................................5References........................................................................................................................................6
2RESEARCH AND DECISION MAKING FOR BUSINESSSampling requirementsFor selecting the samples, the researcher needs to take into consideration, generationaltheory. This is in reference to the attainment of understanding regarding the expression, bodylanguage and reactions of the individuals towards the levied products and services (Sekaran &Bougie, 2016). This understanding is important in terms of the capability to group the audiencebased on certain common characteristics. Passion towards handicrafts, local cultural heritage aresome of the factors, which people find while visiting the village shops. These characteristics aremainly found in the people belonging to the age group of 18-30. This categorization is in termsof passion towards the possession of cultural artifacts.Along with the theory, marketing mix also helps in identification and specification of thesamples. Experimentation with the handicrafts and their price in the form of exhibitions, freepasses to museums provides proper guidance to the marketing personnel regarding the selectionof the samples. Exhibitions and museums are the sources, which supports the marketingpersonnel to increase the trafficking of the audience towards the handicrafts (Hartman,DesJardins & MacDonald, 2014). Keeping high price might not be easy for selecting the targetaudience; however it would attract large number of audience.For selecting the samples, the researchers as well as the marketing personnel need toabide by Data Protection Act (1998) for preserving the individual sentiments of the samples.Along with this, liberal approach needs to be taken in terms of comfort and convenience of thesamples. If they feel uncomfortable regarding the proposed questions, they must be allowed towithdraw the process of interview or survey immediately (Iphofen, 2016).
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