Project : Plan Market Research

2170 WordsAug 9, 20169 Pages
Part 2: Plan market research The next part of the project is to plan the type of data you will collect and how you will collect it, as well as the costs of collection and analysis. For this part of the assessment, you will need to prepare and send a briefing paper to your manager (supervisor) outlining your approach to data collection for the planned market research. Your briefing paper should be written in plain English and should be clear and easy to follow. Your briefing paper should be clear and include sufficient information on the following:  The types of data that could be used in relation to the planned market research e.g. quantitative and/or qualitative and primary and/or secondary  Industry planning information: this is to know the market or industry information of the whole market which it would include in the market, sales, trend and forecast in the coming year. It is important for the company to know before step into the industry as it is important for analyzing these factors. These factors include market insights, company profile and company’s annual report etc.  Qualitative data: this type of market research concerns the facts about social phenomenon which assured the fixed and measurable reality. The data analyse through numerical comparisons and statistical inferences and reported through statistical analyse. The example is color of the sky determine the quality of shading in the picture and the use of contrast within the photo.  Quantitative data:
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