1.2. Aim and scope:2
1.3. Limitations of study:2
2.1. Qualitative research:3
2.1.1. Focus group:3
2.1.2. In-Depth interviews:4
2.1.4. Mixed qualitative research methods:5
2.1.5. Delphi research:5
2.1.6. Analysis on qualitative research methods:6
2.2. Decision on collecting method:6
2.3. Quantitative research:7
2.5. Ethical and Biases issues:13
2.6. Analysis of Measurement scale:14
3.0. Sampling decision:15
4.0. Research findings and recommendations:16
The Market research was required by the ANZ bank as the bank is finding decline in its sales revenue since last year. Management feels that the customer dissatisfaction is the major reason behind sales declines. The management intends to know the exact reasons behind the customer dissatisfaction through the allocation of the private research team as an outsourcing. This market research is a wide concept which requires conducting an analysis of various concepts for coming up with the conclusion to the ANZ bank. These conclusions from the market research will help in making better management decision to the ANZ.
1.2. Aim and scope:
The Aim of the report is to make market analysis of the ANZ customers through the research techniques and principles. In order to make an analysis the report includes problem definition, propositions, research design (assignment 1). Under research design it comes across the qualitative and quantitative methods of research. The analysis of better method for banking sectors will take place in the later section. After the selection of the sampling methods will be used for making decision on how much sample is to be considered for the analysis out of the selected population. Finally the report includes findings and recommendations to study.
1.3. Limitations of study:
The study conducted for the ANZ banks problem is not realistic in this situation as the figures are estimated approximately without primary research. The secondary data is also not merely available to the public as it is confidential to the companies due to competitors.
In the previous part of the report we have found that why and how the market research has started for the ANZ bank. There was a need for better management decisions in relation to its decrease in the sales revenue due to its customer dissatisfaction and also wanted some information pertaining to the new implementation strategies. These propositions demanded the market research on the bank customers, bank employees and their opinion on the proposed strategies. In order to receive and to make a better decisions there was a need for a better research decisions through accuracy, relevancy, valid and current information, which we have already developed in the first part of the report. The definition, proposition, decision criteria for data collecting methods, plan and development, data collection and performance analysis were the main parts of the design were laid down in the previous part. But in this part of the report the detailed analysis of these design parts will be taken place.
2.1. Qualitative research:
Beaumont, R, 2009 states that, the qualitative type of research is still the best way of research as it keenly insight into the people and relates with the situations. So this type work well to the banking sector which we considering for ANZ bank. Even the technological developments have boosted the qualitative research and helped in brining high quality and sound information. The most popular methods of qualitative research are focus group and depth interviews and observations.
2.1.1. Focus group:
Focus group is one of the research method in which...