Use a variety of sources for the collection of data, both primary and secondary (1) (a) Prepare and implement a plan for the collection of primary and secondary data for a given business problem (b) Describe and justify the survey methodology and frame used (c) Develop and use a questionnaire and justify its design for a particular purpose (2) Apply a range of techniques to analyze data effectively for business purposes (a) Create information for decision making by summarizing data using representative values, and use the results to draw valid and useful conclusions in a business context (b) Analyse data using measures of dispersion, and use to inform a given business scenario (c) Calculate quartiles, percentiles, correlation coefficient, and use to draw useful conclusions in a business context (3) Produce information in appropriate formats for decision making in an organisational context (a) Using data from a given business scenario, prepare a range of graphs using spreadsheets — line, pie, bar charts and histograms, and draw valid conclusions based on the information derived SCENARIO
The Organization:You are required to choose an organization at your own choice. The organization could be a business entity operating in any industry such as manufacturing, tourism, hospitality, education and training,service, retail, wholesale, import-export, banking, media, food and beverage (F&B), electronic, information technology, fast moving consumer goods (FMCG), automobile, petrochemical, construction, garment, fashion, small and medium enterprises (SMEs), etc.
Assume that you are working as Market Research Manager, reporting to Director of Marketing Department in the organization you have chosen. Objectives:
You are assigned to prepare a market research report to Director of Marketing Department. The objective of this report is to find out customer awareness, perception and opinions on company products and services. Data and findings:
You are required to plan, collect and analyse the data from primary and secondary sources using appropriate methodology and instrument. A range of statistical methods, data tables and graphical presentations should be exhibited in your data analysis. Provide your analysis and conclusions for your findings in business context rather than statistical results.
Your findings and recommendations should assist the management in making further business decisions. Your report may include, but not limited to, customers’ demographic information, their tastes ,preferences, trends, purchasing behaviour, expectations and perceptions on company products and services. The following tasks must be addressed in your report:
Task 1: Prepare and implement a plan for collecting primary and secondary data to find out customers’ views on your organization’s products and services. (1 a) Describe and justify survey methodology and sampling method(s) used in the project you have selected. (1 b) Develop a survey questionnaire to find out customer needs and level of satisfaction on the products/services. Justify its design. (1 c) Task 2: Collect the survey data and record it on a spreadsheet. Generate frequency and cumulative frequency distribution tables for the data you have collected using suitable groups and class boundaries. Draw appropriate graphs and evaluate the results. (2 a) Analyse the data you have collected using measures of dispersion and draw conclusions for your organization. (2 b) Calculate quartiles, percentiles, coefficient of correlation and draw valid conclusions in business context. (2 c)
Task 3: In each of the analysis above, exhibit appropriate charts and graphs to explain outcomes of the survey. Based on the information derived, analyse the outcomes, draw logical conclusions, and provide recommendations to Director of Marketing department. (3 a)
Demonstrate all the tasks and...
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