4 OUTLINE CONTENT 1 Be able to use a variety of sources for the collection of data, both primary and secondary Primary sources: survey methodology; questionnaire design; sample frame; sampling methods; sample error Secondary sources: internet research; government and other published data; by-product data Storage: security of information; data protection issues; ethical issues 2 Understand a range of techniques to analyse data effectively for business purposes Representative values: mean, median, mode; calculation from raw data and frequency distributions using appropriate software; using the results to draw valid conclusions Measures of dispersion: standard deviation for small and large samples; typical uses …show more content…
Mention different sources of data which you will use in the research. • Your research plan should include the methodology for collecting primary data by using different survey techniques. Describe the methodology in sufficient detail; highlighting the types of research to be used, the sample frame, the method of analysis and any limitations of the proposed approach. Give valid justifications and reasons for the methodology suggested along with the frame to be used for the survey. • Develop a questionnaire to collect primary data (no more than 15 questions). The design and contents of the questionnaire should be well justified by providing valid reasons. • The plan should meet the following criteria: a. Examine the need of that product/ service. b. Performance of current products/services of your selected client. What is the attitude of customers towards the client’s product/service? c. Identify the competitors and compare the perceptions of your client’s product/ service relative to its competitors. d. Identify the potential for enhanced features on the client’s product/ service. Guidance Notes for Task 1: • Select that organisation as your client, which you can easily access for collecting different types of data related to your work. • The data collection/ research plan must also include: a. Brief
There are several different types of business ownership which are most commonly used in business’ and company’s today, these include; Co-operative which is a business owned by its employees, Partnership which is a business owned by between 2 and 20 people, Private limited which is a business owner by a small groups of people who have shares and a Public limited business is owned by private individuals by shares bought and sold on the stock market. A charity is a business with the purpose to help the public, the government is a business owned by the government and lastly a sole trader which is a business owned by only one person.
4. The key methods of collecting primary data (1.1). Justify the choice and application of data collection methods and research instruments to explore an area under investigation (2.3). Evaluate their relative strengths and weaknesses (2.4)
Data and information sources are of both an individual and authoritative nature. Associations commonly gather a wide range of data amid the ordinary course of business.
The quantitative research design was used for this research. According to Vogt, W. P. (2005), quantitative research emphasizes the measurement and analysis of causal relationships between variables, not processes. Aliaga and Gunderson (2005) defines quantitative research as ‘Explaining a phenomena by collecting numerical data that are analyzed using mathematics based methods’ this approach
A meeting was held at NDEQ with Duonix representatives. The discussion was based on modifications to the biodiesel facility located in Beatrice. Duonix plans to modify the process flare operation by removing the 5,800 hours/year operational limitation and incorporating and recalculating the emission factors using test data. The use of test data decreased the emissions from the flare. Mr. Ellis requested for the submittal of the performance test data to support the construction permit application. Duonix expressed that initially, the operational limitation was taken to stay under the State-Toxic Best Available Control Technology (T-BACT). The current annual actual emissions from the flare are 3.7 tons of VOC, and 0.5 tons of Methanol (the primary
Make a customer analysis and segment the market. What impact does your analysis have on the current business model of the company?
Most of my competitors are coming up short with regards to their clients’ experience. This has given me the chance to captivate those same clients into building brand loyalty with my company. I will truly converse with my clients, address
Thinking critically and making decisions are important parts of today’s business environment. It is important to understand how the decision making process works and the steps involved. The nine steps of the decision making process are: identifying the problem, defining criteria, setting goals and objectives, evaluating the effect of the problem, identifying the causes of the problem, framing alternatives, evaluating impacts of the alternatives, making the decision, implementing the decision, and measuring the impacts. (Decision, 2007.) By using various methods and tools to assist in making important business decisions an individual can ensure the decisions they make will be as successful as possible. In this paper it
Compare and contrast quantitative and qualitative methods on each of the elements listed. Please use scholarly, academic literature to support your response.
Second, I would like you to create an evaluating system. It is critical that we know how we are doing from another perspective. Customers may be satisfied with our services, but others might not.
• Our client is a large auto manufacturer who is thinking about making a device that will increase the fuel efficiency of the car by 20%. What is the market for the product? What should it be priced at? • Our client is the PVR. They want a growth strategy for the next five years? What are your recommendations? • Our client is Kingfisher. Their main product is Kingfisher beer. They want to know if they can switch from glass to plastic bottles. What are the advantages and disadvantages of such a move? Also estimate the size of the Indian Beer Market
To develop a preliminary set of questionnaire items as exhaustive as possible, data will be triangulated from several data sources:
Give a brief description of your given Industry. Who are the served customers, and what “value” do the firm deliver
After collecting the data we enter into the process of data selection. It is not enough if we simply collect the data, it is also necessary to select the data that we going to process. There are many data
Who are the current customers/users? Include information related to demographics, psychographics and buying behavior, price sensitivity, customer satisfaction and loyalty.