MK0013- MARKET RESEARCH

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ASSIGNMENT

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

1.Define Research and its characteristics. Also explain any seven types of research.

Answer : Definition and characteristics of research

 

Meaning of Research

Research is defined as the scientific investigation of phenomena which includes collection, presentation, analysis and interpretation of facts that lines an individual’s speculation with reality.

Characteristics of Research

1.      Empirical. Research is based on direct

 

 

2. Explain the various types of Consumer and Business to Business (B2B) market research.

Answer : The business-to-business market differs in key areas from business-to-consumer research and requires a unique approach in terms of market research. DJS Research Ltd details the differences and the appropriate method for conducting research.

 

There are many differences between consumer and B2B markets. The differences do not necessarily lie in the products themselves, but in the way these products are exchanged, and the relationships which exist. In our experience, we find

 

 

3. Discuss the various Techniques of Sales Analysis and forecasting in estimating the current market  demand.

Answer : Sales forecasting is a difficult area of management. Most managers believe they are good at forecasting. Reasons for undertaking sales forecasts. Businesses are forced to look well ahead in order to plan their investments, launch new products, decide when to close or withdraw products and so on. The sales forecasting process is a critical one for most businesses.

Types of forecasting

 

 

4. Discuss the Various techniques of Probability sampling techniques in detail with examples.

Answer : Probability Sampling

A probability sampling method is any method of sampling that utilizes some form of random selection. In order to have a random selection method, you must set up some process or procedure that assures that the different units in your population have equal probabilities of being chosen.

Simple Random Sampling

The simplest form of random sampling is called simple random sampling. Pretty tricky, huh? Here’s the quick description of simple random sampling:

• Objective: To select n units out of N such that each NCn has an equal chance of being selected.

 

 

 

5. Explain the process of sampling and classification of non-probability sampling techniques.

Answer : A Sampling is a part of the total population. It can be an individual element or a group of elements selected from the population. Although it is a subset, it is representative of the population and suitable for research in terms of cost, convenience, and time. The sample group can be selected based on a probability or a non probability approach. A sample usually consists of various units of the population. The size of the sample is represented by “n”.

 

Steps in Sampling Process:

 

1. Defining the Target Population:

 

 

 

6. Discuss the features of online marketing research and its types.

Answer : Your may already be conducting online market research for your business—but you may not know it. Some of the easiest to use and most common tools are located right at your fingertips. Web searches, online questionnaires, customer feedback forms—they all help you gather information about your market, your customers, and your future business prospects.

 

The advent of the Internet has presented small businesses with a wealth of additional resources to use in conducting free or low-cost market research. The

 

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