The Marketing Research Steps Essay

1123 words - 4 pages

Marketing Research Project Steps1.Business Case.2.Is Marketing Research Needed?3.Problem Definition4.Hypothesis Formulation5.Research Design6.Sampling Design & Plan.7.Measurement & Scaling Of Data.8.Data Preparation.9.Data Analysis.10. Preparation & Presentation Of Final Data.1-Business CaseDreampark is one of the most popular entertainment toolsfor the majority of the Egyptian community; it has the highest market share among other places with an excellent service reputation.The number of visitors has increased from 663,667 in theyear of 2002 reaching 809,995 at the first 8 months in the year 2005, planning to exceed 1 million visitors by the end of the year 2006.In order to achieve this objective, its top managers haddecided to identify how to increase their guests at "Low Season" which usually affects the whole year target.They decided to undergo a Market Research foridentifying the best way to utilize the use of the Park during this "Low Season".The majority of guests are Youth (The average age is from13 to 23 years).Total number of employees = 985 & the Total SalariesAverage / Month = 600,000 L.EPaid Vacations = 21 days + National Holidays (PeakSeason) = 13 daysDepartments Available: -* Finance* F&B* Operation* Maintenance * Security * House Keeping * Others: - - General Manager- HR- Video Games- Sales & Marketing - IT- Guest Relations- Entertainment2-Is Marketing Research Needed?Yes, Marketing Research is needed because it will supply the managers with the optimum solution for increasing their profitability at the park.MR is the right way to identify the right direction to go.3-Problem Definition: -Low Revenue for the Park during "Exams Season" which affects the Profitability of the year.4-Hypothesis Formulation(Verbal Questionnaire): - There are three forms of Hypothesis Formulation as follows:-1.Mathematical Form = Equation Form2.Graphical Form= Time Series Graphics3.Verbal Form = Word FormatWe have chosen the "Verbal Form" as a "Word Format" (Verbal Questionnaire) to be used in the Conclusive Design.5-Selecting A Research Design: -CONCLUSIVE CAUSAL DESIGNWHY CONCLUSIVE? Because: -1.Objective: Problem Solving2.Output: Conclusive Recommendation & Solutions3.Perception of Output: Decision Input into Decision Making4.Research Process: Formal & Sequential5.Sampling: Large & Representitive6.Data Collection: Structured (Only Statistically Generalizedby Analysis)7.Analysis: Quantitative for Generalizing Conclusions on thewhole PopulationWHY CAUSAL? Because: -It explains and predicts a marketing research and at the same time it explains the causal of low number of visitors that leads to low profitability (revenue) during this period.6-Sampling Design & Plan: -SAMPLING DESIGN: -We Selected a Representative Sample (25 employees) from the whole Universe (985 employees).The sample represented all categories of employees within the Organization.And the following is our plan for selecting the samples:...

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