Understanding Business Research Terms and Concepts: Part 3

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Preparing to Conduct Business Research: Part 3
Investing in a New Automobile
University of phoenix
Business Research
RES/351
October 15, 2012

Overview
Advances in technology pose new and exciting challenges for all industries, including the highly competitive economy revolving around automotive retail. Automobiles rapidly integrate the latest advances technology can produce and put to market. From hands free integration to the latest in safety features and automobiles offer unique advertising opportunities. Consumers expect style, fuel efficiency, a myriad of options, and a reasonable price. Consumer desire for unique automotive experiences exists. For us, members of the automotive advertising industry, how do we determine the wants, needs, and ‘purchase-triggers’ of the consumer base. It is the expectation of this research team to determine popularity among popular automotive features, fuel efficiency, physical automobile size, and how these items relate to specific classifications of the consumer base. This information is expected to be used in the planning and execution advertising throughout the automobile industry. Research Questions

There are many automobile options available to consumers when considering the purchase of a new automobile. Advertisements for the automobile industry require special considerations in regards to consumer wants and needs. The research team is interested in this information, as well as the reliable collection of the information. Which available automotive options and features, combined with overall value, result in an increase in the sale of automobiles? Available options among automobile manufacturers differ, resulting in varying levels of attractiveness to the consumer. Does automaker diligence and investment into the incorporation of technology advancements relate directly to sales in a positive fashion? It is the opinion of this research team that size (capacity), and overall popularity of available features are the major determining factors among consumers. It is important for this research team to consider economic climates and inclinations. As of June 2012, gas prices has hovered around $4.25/gallon and it is predicted that it will reach more than $5.00/gallon within the next year (The Super Cars, 2012). This research team is paying special attention to the Miles per Gallon (MPG) of available automaker automobile classes, not models. Does the MPG of the vehicle class play a large part in the sale of automobiles, or are increased MPGs, among vehicle classes, an added bonus? Manufacturer Suggested Retail Price (MSRP) is understood to be a determining factor of automobile popularity for consumers. For the purpose of this research, MSRP is to be disregarded. This research proposal is to focus upon the persuasive inclinations of automobile options and classifications. This research team understands the linear congruency between consumer purchasing, and the desire for cheaper automobiles. Hypothesis

Consumer desires in regards to the purchasing of a new automobile cannot be predicted. The consumer purchasing markets which favor stylish, fuel efficient automobiles, vice large Sport utility vehicles (SUVs) are difficult to convey via evidential results. The large, ‘status-symbol vehicle’ was once the dominating presence on American roadways. In the opinion of this research team: * Trends are expected to indicate increased popularity in smaller, more fuel efficient alternatives. * Trends are expected to indicate increased popularity in the offering of mid-sized automobiles offering increased fuel efficiency and premium options. * Trends are expected to indicate increased popularity in the procurement of automobiles over the leasing of automobiles. * Trends are expected to indicate decreased popularity of cheap automobiles among consumers. At this time, the research team would like to point out the possibility of having its hypothesis overturned due to the...
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