1. How would you monitor any external market research consultants to ensure their performance is in line with your expectations and/or contractual requirements? What do these market research consultants offer to organizations?
Performance measurement is very important factor for project. For selecting external market research consultant there are no of things that has to keep in mind and consideration:
‘ Check qualification and registrations
‘ Work experience
‘ Good market repute
‘ Previous work results
‘ Consults other persons about that consultant performance.
‘ At lease done one proper meeting with him and ask them outright.
Market research consultant services:
‘ Total project design
‘ Market search objectives, requirement identification.
‘ Recommendations for methods use and scale.
‘ Questionnaire design consultancy
‘ Project management before, during and after the fieldwork period.
‘ Production table and charts for final results
‘ Analysis and explanation of results
‘ Statistical analysis
‘ Presentations and full reports and management summaries.
2. Compare and contrast ‘reliability and validity,’ and describe why each is important in performing marketing research.
It is refer to the ability to perform same experiment and get same result Perform an experiment that give accurate results once, but cannot repeat it.
It is consistent in measurement It is not consistent
Reliability and Validity is very important tools for positive epistemology. Whereas they might have certainly proved practical in given that balances and check for quantitative methods, they assemble uncomfortably in research of that kind, which is good concerned by questions on power and pressure, sufficiency and competence, appropriateness and accountability.
At the point when designing an experiment, both reliability and validity are essential. With a unreliable test, results are false. On the off chance that replications produce distinctive results, it is difficult to interpret the outcomes; on the other hand, even an exceedingly reliable test now and then needs validity.
3. Give a definition of both quantitative marketing research and qualitative marketing research. When would you need both types of market research in your plan?
Quantitative marketing: it is in-depth exploring about what peoples think, feel and do why.
Qualitative marketing: it give the measurement how many people’s think, feel and in a particular way and use statistical analysis to find out results.
As these are frequently used as separate methodologies they be able to valuably together into mixed-methodology research. For examples if any business want to about its customer satisfaction about products for the first time. While you have an idea of what is essential to your customers, which have a different point of view. On starting stage of qualitative research can find out their needs and priorities; and after quantitative survey can use to measure how satisfied customers for meeting their meeds.
4. How would you review the findings of your market research to ensure the relevance of the findings against the market research project plan?
When reviewing the findings form market research project plan there are no of things that have to check:
‘ Put the information in perspective like compare with results what we expected or plan project,
‘ Describe the project strengths, weakness
‘ Consider recommendation to help staff members, improvement in the project, services
‘ Conclusion about final project
‘ Record the final results in a report
‘ Compare with your own search data and information
‘ Overall market trend for such type of research project plan.
‘ Survey actions perform
‘ Analysis the finding results with set goals
‘ Design a sample plan to get effective outcomes.
5. What are two ways you can measure stakeholder satisfaction with your research process and findings.
For getting stakeholder satisfaction first project manager rate the stakeholder importance so that thing gives prioritized.
Online Survey: For this project manager design a questionnaire. Here manager add up all those questions which can shown the stakeholder importance level. By answering it Project manager can get each and every thing form stakeholder satisfaction.
Running focus group: running brainstorming ways can get input from stakeholder through discussion scheduling meeting for team progress for achieving the project goals. By this project manager encourage all members to give open info mirroring their point of view. This strategy for measuring stakeholder satisfaction with advancement permits project managers to get convenient data for all stakeholders without a moment’s delay, empowering the undertaking group to keep away from exorbitant missteps or improve later on.
6. Write a report to management on any future improvements you have identified in the research process to improve any future research project plans.
The purpose of this report to give brief information on current project for making decision personal mobile phone use in the staff and team member.
As in our last research and decision there are no of things find out and complain comes around to use personal phone during important meeting and discussion time. So i may have fine out some ways and methods that can helpful to stop personal phones during meeting hours.
Research was done through questionnaire and investigation and overall staff thinking. No personal information was collected; the survey was voluntary and anonymous.
After all that research there are some steps that can taken for future purpose
Moral and ethical meeting
Sensitive device for deducting anything like phone before entering in the meeting room
Punishment and give rewards to other who follow that requirement
The utilization of cell phones in staff meetings is plainly troublesome and they ought to be exchanged off. Most staff felt it is not important to get personal phone brings in staff meetings with the exception of under particular conditions, yet authorization ought to first be looked for from the group pioneer, manager or chair.
7. If your research findings did not provide the desired information, what changes would you need to make to your organisations policy and procedures and why?
There are no of steps has to be taken when research result not match with desired information:
‘ Recheck and specifies the objectives
‘ First has to find out nature of problem or issue due to which results differ from actual outcomes
‘ Review all steps
‘ Go for alternatives
‘ Formulate the marketing research problem
‘ Inquire ways
As any project when it starts takes allot of time and budget form organization. It is very important to get actual results and make desired research successful so for making best work on each and every step of research. If any problem comes, go back to that stage where problem come after identification of problem root cause.
8. Why is market research so important to any organisation?
Organizations use market research exploration to distinguish issues or opportunities that they may experience. Associations might likewise use marketing research to recognize their qualities and shortcomings, and certain trends that are shaping in their business. Marketing research has concern with variety of aspects of the market: products, buyers attitudes, sales promotion, distribution pricing, etc. Keeping up objectivity in marking research is key if marketing management is to have sufficient trust in its outcomes to be arranged to take risky decisions based upon those outcomes. In spite of the fact that the requirement for accuracy and painstaking quality in marketing research has been focused here, it is to be recollected that, practically speaking, there is a never-ending clash between the requests of practicality and the quest for truth. Without a doubt management is much of the time under weight to settle on opportune decision. Accordingly management regularly looks for answers through marketing research in the most limited time conceivable and, besides, at least cost. On such events its techniques have a tendency to be less hypothetically thorough and its investigation more shallow.’
BSBMKG607B Manage market research
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