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BUSI 331
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Marketing Research Part #2(this will pull up the grading with the professors comments showing what needs to be fixed on the Marketing Research #2.
Please review the corrections the my professor has asked to be completed for marketing research #2 before you complete marketing research part #3.
Running Head: MARKETING RESEARCH REPORT
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Running Head: MARKETING RESEARCH REPORT
8
Marketing Research Report
Cameron Bechtold
Liberty University
I chose to research the organization of Wal-Mart. Wal-Mart has had very serious issues with favoring international products throughout their store. This is not something that is new to their market, but something that has been going on for years in the Wal-Mart organization. They chose to do their best to correct this problem. Throughout this study I will attempt to discover how, if Wal-Mart can carry out this new plan, it will make them more successful along with their consumers becoming happier.
People of the United States are frustrated with the international business that Wal-Mart is choosing. This organization always buys their products from foreign countries and this is hurting the American economy enormously. Due to the large organization of Wal-Mart, the American economy is taking a large negative hit.
When researching this issue I found interesting information. In September of this year, Wal-Mart organized a summit in Orlando, Florida to address this issue. Their goal was to put their focus on American products. They signed multiple contracts with many large American suppliers. Wal-Mart created a new drive titled, “The Wal-Mart made in American Drive”. This drive motivated the organization along with its customers. They promised to buy $50 billion in U.S. goods over the next 10 years. Wal-Mart plans to return to its roots and eventually mainly buy American-made products and goods.
Wal-Mart’s goal is to gain the trust of the American people even more so that they can continue to maintain a successful and expanding organization. This plan will be very successful in the long run if they can fulfill their promise. There are so many people that live in this country that are biased to American-made products that Wal-Mart will possibly, and hopefully, make more money by executing this plan.
Marketing is one of the techniques that most businesses tend to use in order to get more sales for their product. However, one may define marketing as a mechanism of communicating the value of a product, good, or service just to ensure that he gains public attention to his or her product and makes more sales in comparison to his or her competitors. How does one achieve the above business technique? Through quantitative research, which is a scientific mechanism of obtaining information from your customers or product consumers about the effectiveness and challenge of the service or product you tend to provide. A quantitative research will enable you, as an entrepreneur, to seek proper ways of improving on the quality of your product. This is achieved through collecting statistical data and conducting research about your product; furthermore you will be in a position to obtain immediate feedback from your product consumers. Making informed decisions will be enhanced through obtaining information about the product. As a service provider will be able to engage in rich decision making; coming about as a result of obtaining people’s opinions in a systematic way.
Reliable statistics about the product sales one will also be obtained when one tends to use quantitative research method in conducting a marketing research report. The individual conducting the research will choose among the following data collection methods: questionnaire, interviews, face to face dialogue, or observation.
Following this will provide him or her with information that is accurate, thus obtaining statistics that can be used as references in decision making. The method adopted in this market survey will enhance a sampling technique of the study population, thus being in a position to obtain responses from all diversities equally without being biased and thus saving the time being used in conducting this research (Bradley, 2007).
METHODOLOGY
I will be finding the description and statistics of the research design, target population, sampling design, and sample size, data collection instruments and procedure, validity and reliability and analysis of data.
RESEARCH DESIGN
“Research design is used to structure the research, showing how all of the major parts of the research project, the samples or groups, measures, treatments, or programs and methods of the assignment work together to address the central research questions” (Li, 200
3
).The researcher employed the case study design as it allows collection and gathering of in depth information relevant in the study. It is an intensive descriptive and holistic analysis of submitting a marketing research report over a period of 8 days targeting
30
valid responses from a customer population. This marketing research study is useful to bring out an understanding of complex issues or subjects and add strength to what is already known from previous research. The advantages of a market research survey are its applicability to real life, contemporary, human situations, and public accessibility (Busha, 1980).
TARGET POPULATION
The study adopted a target population of 30 customers from the entire population who are in one way or the other involved in the consumption of products.
These were divided into loyal customers, discount customers, impulse customers, and wandering customers. The diagram below shows the target population.
|
Stratum |
Target population |
|||
|
Loyal customers |
3 | |||
|
Discount customers |
8 | |||
|
Impulse customers |
15 |
|||
|
Wandering customers |
4 |
|||
|
Total |
30 |
SAMPLING DESIGN
The researcher used a stratified random sampling method to ensure responses were given from each of the customer categories while simple random sampling was used to select a sample from within each category.
Table below illustrates the sample size
TABLE SAMPLE SIZE
|
Sample size |
|
| Loyal customers | |
|
6 |
|
| Impulse customers |
12 |
| Wandering customers | |
|
24 |
DATA COLLECTION INSTRUMENTS AND PROCEDURE
Data was collected using questionnaires for both loyal customers and discount customers, using both closed and open ended questions were used. This was appropriate because the questions were to be interpreted and administered, thus aiding the expected responses.
RELIABILITY AND VALIDITY OF THE RESEARCH
The reliability of an instrument is the measure of the degree to which a research instrument yields consistent results of data after repeated trials. In order to test the reliability of the instrument to be used in the research the test-retest method was used. The questionnaire was administered twice in an interval of two weeks. This was to ensure that the collected data was reliable and could be used in future studies. The measurement instrument was also effective in ensuring that the information collected was truthful in nature (Wiid & Diggines, 2009).
Validity refers to the accuracy and meaningfulness of inferences, which results obtained from the data actually represent the phenomenon under study. The content validity of the instrument was determined in two ways; first, the researcher discussed the items in the instrument with the supervisor. The advice given helped the researcher determine the validity of the research instrument. For the research instrument to be considered valid, the content to be included in the questionnaire must also be relevant to the variable being investigated (Kerlinger, 1973).
DATA ANALYSIS AND PRESENTATION
The data collected was coded and analyzed using descriptive statistics in order to determine their frequencies and percentages. The frequencies and percentages of the responses to each question were calculated and presented in form of tables and charts.
QUESTIONNAIRE
I am conducting a research marketing research report: You’re kindly requested to help in the completion of these questionnaires. The information provided will be treated with confidentiality and only be used for the well-being of improving on the marketing of products.
1. How do you buy your product, wholesale or retail?
2. What, in your opinion is the main importance of marketing? (Please choose as appropriate)
|
Improving product performance |
|
Enhancing customer buying |
|
Efficiency in sales of products |
|
Availing productive resources/Assets |
|
Ensuring continuous production selling |
3. How often do you change to competitors of the same product?
Regularly or Rarely?
4. What price would you be comfortable with?
5. What measure do you think we should take in order to compete with our competitors?
6. Is your financial income stable to accommodate our prices?
7. How good is our product?
8. Does the product provided offer satisfaction in regards to the value of money used.
9. For how long have you consumed these factory products?
-Less than one year
-2-5 years
-6-9 years
-10-13 years
-More than 14 years
References
Baden, D., I. Harwood and D. Woodward. “The Effects of Buyer Pressure on Suppliers SMEs toDemonstrate CSR Practices: An Added Incentive or Counter Productive,” European Management Journal, (27:6), 2009, pp. 429-441.
Barney, J.B. “Firm Resources and Sustained Competitive Advantage,” Journal of Management, (17:1), 1991, pp. 99-120.
Busha, C.H. & Harter, S.P. (1980).Research methods in librarianship, techniques and interpretation. New York Academic press U.S.A
Bradley, N. (2007). Marketing research: Tools & techniques. Oxford: Oxford Univ. Press.
Carter, C.R. “Purchasing Social Responsibility and Firm Performance: The Key Mediating Roles of Organizational Learning and Supplier performance,” International Journal of Physical Distribution & Logistics Management, (35:3), 2005, pp. 177-194.
Wiid, J., & Diggines, C. (2009). Marketing research. Lansdowne, Cape Town: Juta.
Corporate news. (n.d.). Wal-Mart promotes ‘Made in America’ push to buy U.S.-made goods. Retrieved October 28, 2013, from http://www.sgvtribune.com/business/20130925/wal-mart-promotes-made-in-america-push-to-buy-us-made-goods
Kavilanz, P. (2011, May 12). Is Wal-Mart returning to its “Buy American” roots?. CNNMoney. Retrieved October 28, 2013, from
http://money.cnn.com/2011/05/12/news/companie
Walmart ‘Made in America’ Drive Follows Suppliers’ Lead. (n.d.). VOA. Retrieved October 28, 2013, from http://www.voanews.com/content/reu-walmart-made-in-america-drive-follows-suppliers-lead/1756727.html
Walmart puts focus on American products. (n.d.). – Opinion. Retrieved October 28, 2013, from http://www.chaindrugreview.com/inside-this-issue/opinion/09-09-2013/walmart-puts-focus-on-american-products
BUSI331
Marketing Research Report Part 3 Instructions
Data Submission
Review the Basic Data Analysis section in the Zikmund & Babin text and the presentation from Module/Week 4, Presentation: Using Excel for Data Analysis. There will be 2 submissions in this assignment: the Excel document with the raw data that includes a code guide and the Marketing Research Report as a continuation of your Part 1 Word document.
1. Submit the raw data from your survey results in an Excel document. To do this, you will need to build an Excel spreadsheet to organize your data. You may find that Survey Monkey or other online survey tools will already do this for you.
2. In order to get the best results from your data analysis, you will need to code your responses that are not already numerical. For example, if your question asked if the respondent was male or female, male=0, and female=1. If it was yes or no question, yes=0, no=1. Please include a code guide with your raw data.
Your Excel document submission is your raw data with a code chart to clarify what the raw numbers stand for. Please note that raw data is numerical and the data has not been manipulated in any way. You can post the Code Guide in Sheet 2 of your Excel document if that is easier for you. As an example, your raw data and code guide will look like this:
Respondent
Gender
Age
Q1
1
1
1
1
2
1
2
4
3
2
3
3
4
2
2
5
5
1
3
2
Code Guide:
Gender: 1=male, 2=female
Age Range: 1=18-24, 2=25-30, etc.
Q1 (5 point likert scale): 1=very unlikely, 2=unlikely, 3=neutral, etc.
3. Submit 3 tables that were created in Excel from your data, inclusive of 1 frequency table and 2 cross-tabulation tables. This needs to be relevant information that will directly impact your research problem. Please write 1 comprehensive paragraph underneath each individual table that clearly describes what the table is showing and what the inferences are from this table and information in relation to the research problem. Turn at least 1 of your tables into a graph (either a bar or pie chart) to show the data from the table. Place this material (three charts/tables and three written discussions of each) as Appendix 2 in your research report, and submit this part as a compilation with your Parts 1 and 2.
This assignment is due by 11:59 p.m. (ET) on Monday of Module/Week 6.
