Role of Clients, Owners, Managers, Supervisors, and Suppliers in Market Research
Communicate role of market research in enterprise operations to relevant personnel and identify contribution of market research to enterprise activity.
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The clients have a role to play in consideration to market research in enterprise operations as they are the people that are required to bring business to the market place. The role of clients in market research is to bring in business to a work place as well as act as the voice of the organization to the market place. Clients also contribute to the market research of enterprise activity by making the enterprise work be known to the outside world. Customers’ role in market research in enterprise operations is to buy products and services of the enterprise and by so doing promoting them to the market place by making the enterprise to be known by other customers. Customers contribute to market research to enterprise activity by creating awareness of the products and services offered through buying and using them. The enterprise owners have a role to play in market research in enterprise operation as they are the ones who own the products and services and therefore should be active in marketing the products to the market place. The enterprise owners hire expert marketers who can promote their products and services to the market place and they ensure the products and services offered are of high quality so that they can sell easily. The managers’ role in market research is to ensure every activity taking place in the enterprise is coordinated and every personnel working in the enterprise are delegated duties and responsibilities that will enable smooth running of business operations leading to sale enterprise products and services in the market. The supervisors’ role is to ensure they keep a watchful eye on the workers who are responsible in ensuring the roles and responsibilities delegated are being done and products and services reach the market place as intended. The supervisor work is to check that things are done according to duties delegated. The suppliers’ role in market research in enterprise operations is to ensure that products and services offered are taken to the market place and distributed accordingly to all clients and customers to their satisfaction (Burns 2014).[1] They ensure that products and services reach the market place in time and demand and supply of the customers is met.
Analyze Enterprise Planning and performance documentation to determine research needs
Analyzing enterprise planning and performance documentation to determine research needs in reference to competition one needs to look at the comparison of the attitude of the customers of an organization towards their services and products and the attitude of the customers towards the services of another organization/ competitor. The organization should also ensure they identify how frequent customers use the services and products of its competition. The organization should also make sure they know their major competitors and their strengths or weaknesses and capitalize on either in betterment of themselves. An organization should also analyses and measures the customers’ awareness of their products and services. The organization should ensure they analyze their customers in terms of establishing a detailed customer profiles thus they will be able to know their customers well in terms of their needs and wants. The organization should identify any patterns in change of customer attitude and behavior towards the products and services they offer to them. This will enable the organization know what their customers need and be able to meet those needs. The organization should also keep in record their potential clients or the lapsed customers at any given time. The organization needs to keep in mind the place or location of the business by knowing the attitude of the customers towards that location. Identifying cooperative opportunities of a place so as to distribute information or services of their organization. Ensuring that the organization is aware of the demand of their products and services in other locations. The organization need to know their products and services well so as to be able to evaluate their competitors’ products so as to better themselves. Knowledge of customers’ attitude towards the packaging and presentation of their products and services in the market place. [2] The organization should also be aware of the new products and services they are offering in the market and also the products and services that are nearing or are almost expiring. The organization should keep in mind the aspect of promoting their products and services by measuring the effectiveness of promotion and also testing other alternative messages in promoting their products and services. The media options should be tested and compared so as to choose the best for promoting products and services.
Consult relevant personnel to determine research needs and develop statement of market research needs.
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The suppliers’ position in determining research needs and market research needs is to ensure that products and services are supplied in the market in good time and the products and services meet the demand of the customers. The supplier role is to ensure that the products and services offered are taken to the market place and distributed accordingly to all clients and customers to their satisfaction. Also that the products and services supplied are of good quality and quantity is enough to meet the demand. The suppliers are important in market research needs as they ensure products and services are supplied and meet the market need as required by ensuring the customers’ needs are met and satisfied. In so doing, the suppliers ensure that the organization is able to move its products and services and reach the market for sale.
The Customers’ position in the market is the end of a product or service and its consumption. The customers’ role in market research needs is to buy products and services of the organization and by so doing promoting them to the market place by making the organization to be known by other customers. Customers contribute to market research need by creating awareness of the products and services offered by an organization through buying and using them. The customer is important to the organization as they are the reason products and services are produced and supplied.
Research needs are information gathered during market research and analysis and the collected information used to identify market needs so that an organization would know its market needs and wants. During gathering of the required information, the organization incurs costs such as transportation, data collection methods used and sometimes free samples offered to their target customers in the market place and also advertisement cost for their product s and services. All these research is important to the organization as they create awareness to the market of the organization products and services and thus enable the organization attract clients and customers to buy their products and services. Identifying market research need is important to the organization as this will enable the organization to know the market environment and identify customers and their needs in the market place. Researching about the market needs is an important undertaking of an organization as this will shed light on what is required in the market and the clients and customers’ needs and therefore an organization will be in a better position to project what products and services to supply to the market.
Draft research objective.
Concepts and requirements the objectives of this are to identify the concepts and requirements necessary for market research needs. The concepts of the market research needs should be established and the requirements necessary for the research to be successful for an organization.
Processes, usage, environment are important for research as the process used for that research can be used for other researches in future. The environment necessary for the research to take place is important as it provides for the success or failure of the research being undertaken. A good environment leads to positive results and vice versa (Kent 2001).[3] Usage during research enables the researcher to know the type of resources required for the success of the research.
Determining Research Needs
The objective of perception during research is to allow for analytical and critical look at all possible aspects of the research needs at hand. This allows knowing what is perceived good or bad in the market place and what influence will be brought by products and services introduced in the market space.
The objective of alternative in research is to allow options introduction into the market place for the purposes of competition and success.
Feasibility objective is to project the future outlook of the market place so as to encourage creativity and innovation of products and services introduced.
The objective of assumptions in research is to enable to create room for alternatives into the market place in consideration to what the market atmosphere is like.
Preferences objective in research is to enable the organization to know what the customers need and prefer to be availed into the market as products and services. This ensures that an organization meets the customers’ needs accurately and satisfactorily.
Measures are important as they offer guideline during research on what to be expected and what criteria to be used when looking at the market environment.
Frequency is an objective during research as it is important to keep up to date the information acquired from time to time. Ensuring there is frequency in market research needs to keep abreast with what is required.
The objective of prioritizing is important as it enables one know what comes first during market research. What objective should take first place and which to follow up to the last item for the purpose of consistency and tackling of important projects?
Keeping up with trends is vital as it makes researchers to be aware of the products and services to be taken to the market at one particular time. This is crucial so as to avoid wastage and stagnation of products and services due to them not moving/selling.
Monitoring is an important aspect in research as its objective is to ensure all tasks and progress is going according to plan. Keeping a close eye on the activities taking place during research so as to ensure none is left and all is done to perfection.
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Draft objectives.
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Scoping parameters.
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Review your suggestions.
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1. What is the main reason that motivate us to undertake the market research project?
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The parameter here is the good and services that need to be offered.
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The reason must be promising in terms of profits generated.
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2. Who will be the main client, customer for the project?
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The parameter here is the number of customers.
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The customers need to be reliable.
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3. When is the research data required to be fully collected and analyzed for the market research project?
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The parameter here is time required. In weeks, days, months and years.
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The project need to take the simplest time to meet the objectives.
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4. Where the data to be used is be collected?
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The parameter is sample population.
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The data need to be collected from the approved sample population using the most appropriate methods.
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5. How long will the project take to meet the objectives?
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The parameter here is time in terms of weeks, days, months and years.
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The time need to be accurate to cut down on costs.
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Identify types of data required to inform objectives. Determine combination of types of data to best inform objectives. Identify and evaluate suitable data gathering methods. Identify data sources and quantify required data.
Types of data required to inform objectives are such as reports on findings during research. Written reports and presentations where necessary. Written reports on findings can be used to inform the organization about the research.[4] A combination of types of data used are such as reports, presentations, analysis and use of pictures and drawings. Suitable data gathering methods are taking of notes, questionnaires, use of cameras for pictures and presentations and use of drawings. Data sources should be gathered at the market place, use of customers and clients’ feedbacks, use of management and suppliers and sources from competitors’ information (VanderMey 2015). Other data sources can be by use of the internet and social media platforms. Quantifying required data should be done so as to collect the necessary data and the most important for the research.
Consulting Relevant Personnel
3B identify and evaluate suitable data processing methods and make decisions on data types, combinations, gathering methods, sources, quantities and processing methods.
The suitable data processing methods are use of data processing service experts and manual or personal methods. Here the data processing service experts is hiring experts who can collect data by use of reports and findings through gathering of information from the market place. Experts use data gathering methods such as taking notes and questionnaires from various sources in the market place such as customers and clients. The data collected can be processed by taking fine notes from the initial drafted notes. Another data processing method is manual or personal methods where one can collect data by use of pictures or drawings. The gathering method can be use of cameras and drawing from sources in the market place by taking pictures as many as possible and then processing the pictures and drawings in a photo studio and presenting them as photos.
Describe the suitable decisions made in relation to the headings detailed below.
The suitable decisions made in relation to data types, combinations, gathering methods, sources, quantities and processing methods are used to facilitate the validity of the research and findings after the research has been concluded. The decision is made by the researcher on what to use where in order to gather information for purpose of success in the research being made.
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Resource name.
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Description/function
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Resource deliverables
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Budget
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1. Human resource.
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This refers to the workers at workplace with skills that are required to accomplish the objectives of the organization.
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70%
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Within the budget.
Each worker will be paid based on work delivered.
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2. Motor vehicles.
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These are motor vehicles that are used to transport finished products from the company to the market. They are also applied to move the workers to workplace.
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69%
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Within the budget.
Each vehicle to cost $100,000
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3. Furniture.
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These refers to equipment inside the offices where the workers perform their preliminary duties.
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66%
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Within the budget.
Each furniture to cost equitable amounts within budget.
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4. Land and premises.
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These refers to company resources where assets of the company are located. This offer space for expansion.
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55%
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Within the budget.
New land for expansion to cost $350,000.
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5. Equipment and machinery.
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These resources are used to facilitate execution of business objectives.
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54%
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Within the budget. Each equipment and machinery to cost equitable amounts.
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6. Materials for production.
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These refers to materials applied to produce goods in a company based on the product.
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67%
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The materials need to be budgeted based on quantity of production.
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Timeline
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Relate to function
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Deliverables
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Budget
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1. The timeline for human resource is up to satisfaction of objectives. It should be 10 weeks.
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Workers to perform duties for 10 weeks.
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73%
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Within the budget.
Each worker will be paid based on work delivered.
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2. Timeline for motor vehicle is up the point of wear and tear or replacement. It should be 2 years.
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Motor vehicles to facilitate movement of resources for at least 2 years.
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70%
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Within the budget.
Each vehicle to cost $100,000.
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3. Timeline for furniture is up to wear and tear. It should be 3 years.
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Furniture to be used for at least 3 years.
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56%
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Within the budget.
Each furniture to cost equitable amounts within budget.
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4. Timeline for land and premises is up to the point of resale or expansion. It should be 5 years.
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Land to be used to achieve the objective for at least 5 years.
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55%
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Within the budget.
New land for expansion to cost $350,000.
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5. Timeline for equipment and machinery is up to the point of wear and tear. It should be 2 years.
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Machinery and equipment to be used without wear and tear for at least 2 years.
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57%
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Within the budget. Each equipment and machinery to cost equitable amounts
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6. Timeline for materials is up to point of next production. It should be 6 weeks.
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Materials to be replaced after 6 weeks.
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67%
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The materials need to be budgeted based on quantity of production.
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Suggested question on feasibility.
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Your assessment.
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Likely ease of implementing and recommendations.
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The process of implementation of the underlying recommendations can be assed via a mechanism to test whether the project is viable[5]. The recommendations can only be implemented if the project will be able to sustain itself. For that case, the project coordinator can commit more resources for the project.
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Quality and credibility of methodology.
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The credibility of methodology will be assessed from the data collected for the project. Accurate data implies that the methodology is of high quality and credible.
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Ultimate usefulness of the research
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The research is very important for a project because it assert all the requirements for the project[6]. Through the research it is possible to realize the strengths, weaknesses, opportunities and threats for the project.
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Whether similarly valid results can be obtained from other means.
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It is possible to obtain valid results from other means through literature review to investigate the results obtained from previous research based on a similar project.
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Type of feasibility.
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A project need to be tested for viability by conducting a feasibility test. This could be economic feasibility.
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Prepare market research plan for approval.
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The market research plan is important for this project. This implies that, the following ingredients will be needed for the market research.
1. Collection of data. This will involve gathering accurate data for the marker research.
2. Analysis of data. This plan will be used to verify the feasibility of the market to be considered.
3. Interpretation of findings[7]. This will be used to compare the data analyzed to estimated market for the project.
4. Implementation of findings. This plan aim at implementing the findings by committing the resources.
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Obtain approval to implement plan from appropriate personnel as required.
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From the above plan, this market research can be approved by stakeholders involved in the market research as a way of approval.
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Describe the basic questions/ suggestion needed to be asked.
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1. Who are the main customers for the project?
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2. Are these customers reliable?
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3. Will the population in the survey model offer adequate data?
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4. What variables need to be checked for market survey model?
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5. Are these variable dependent or independent to the survey model.
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Suggest a series of typical survey questions.
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1. What products does the customer need to be offered by the project?
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2. Is the level of competition a factor to consider in the market?
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3. Has there been a gap left in the market?
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4. What mechanism do you suggest to be used to fill the gaps?
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5. How do customers respond to the products?
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6. Do they like the product or d-services offered?
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7. Suggest any improvement in the product or service?
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The key provision that affect business operations include.
- Adherence to legal framework that govern the operations of the business.
- Proper licensing.
- Adherence to codes of conducts such as protection of public interest.
- Provision of goods and services on behalf of the government using appropriate means.
- A business should not sell illegal goods and services.
- There should be no exploitation of consumers and customers.
- The products and services should not harm the users.
Data processing methods and data analysis techniques.
The methods of data processing refers to method used in collection of data. This could be qualitative or quantitative in nature[8]. Data analysis techniques could be statistical techniques such as use of software tools such as SAS, SPSS and R.
A new person into a project need to consult some skilled individuals about the project. This involve analyzing data provided by consultants on project requirement in terms of resources. All the stakeholders in the project must perform the tasks through division of labour and specialization.
It is also important to define the time frame for the project. A project need to achieve the objectives in minimum time possible so as to cut down on costs[9]. The operations of the project should be within the budget. For plans to be implemented, there should be a proof that the project is viable before committing more resources.
The approval of the project is done by bodies governing business operations. This could be done via legal procedure of licensing.
Needs analysis is where the new invest check the gap that need to be filled by the project by determining whether the business project is really necessary in the area.
The scope of the project should cover all the population who need the services of the project. There is need to assess the area under which the business project will operate without staining the budget.
Step for market research.
- Appropriate and accurate data collection about the market need.
- The resources needed for the market.
- The demand of the project in the area.
- The viability of the project.
- The budget and implementation of recommendations.
To draft a research objective, it is important to determine what the research questions address since they a perfect positive correlation.
Drafting Research Objectives
To undertake preliminary project scoping, it is important to accesses data on previous researches via methodology and literature review.
Again, on consultation, there is need to revisit previous studies on a similar market research so as to compare data and discard any inappropriate data.
The parameters of market research scope will be based on the analysis of data about the area of operation for the project[10]. If a wider market is suggested, the parameters need to be comprehensive in nature.
The type of data to inform the objectives of market research project is quantitative data. This can be obtained via collection methods such as sample survey procedures[11]. Again, it can involve the analysis of primary and secondary data on previous project.
The combination of data can be done use of both qualitative and quantitative which is called mixed research approach. This will offer space for hypothesis testing.
The identification of data was done through scanning of research objectives. The most appropriate in the project was questionnaire method of data collection.
The data was collected from the sample representing the population. It also involved analysis of primary and secondary data.
The data was quantified via analytical process and statistical approach.
The data process method used was R package because is provide appropriate and accurate analysis of data free from ambiguity.
The decision make in the market research was to execute the project since the data types were reliable, the data could be combined by use of mixed method approach, gathering methods of data were appropriate free from inaccuracy, the quantities of data were satisfying and data process methods were easy to analyze and interpret.
In order to develop a market research plan, the researcher need to realize which research objectives to prioritize[12]. This will offer a clear scope for the project under consideration. This is because, the plan will be admirable based on the objectives of the research. Again, it is also important to make sure that the data provided by the sample population is accurate and appropriate. A good plan will be developed by accurate data. Accurate data means that the data will be analyzed accurately thus offering a clear prediction and focus on a market research.
Burns, Alvin C., and Ronald F. Bush. Marketing research. Boston, Pearson, 2014.
Cameron, John. Current Surgical Therapy. Elsevier, 2017.
Cydvika, Rita. Tintinalli’s Emergency Medicine Manual. McGraw- Hill Education/Medical, 2017.
Kent, Raymond A. Data construction and data analysis for survey research. Basingstoke, Hampshire, Palgrave, 2001.
Lash, Scott, and John Urry. Economies of Signs & Space. London: Sage Publications, 2014
Moore, Ernest. Trauma, Eighth Edition. McGraw-Hill Education/Medical, 2017
Owens, William. The Advanced Ventilator Book. First Draught Press, 2017
VanderMey, Randall, et al. The college writer: a guide to thinking, writing, and researching. Stamford, CT, Cengage Learning, 2015.
Vincent, Jean-Louis. Textbook of Critical Care, 7e. Elsevier, 2017.
Walls, Ron. Rosen’s Emergency Medicine. Concepts and Clinical Practice. 2-volume set. Elsevier, 2017.
Journal article
MacDonald, Susan Peck. “The Erasure of Language.” College Composition and Communication 58, no. 4 (2007): 585-625.
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