Market Research in Order to Term Paper

  • Length: 5 pages
  • Subject: Business - Advertising
  • Type: Term Paper
  • Paper: #65557362

Excerpt from Term Paper :

Meanwhile, brand images that emerged from the FGDs will then be determined and assessed quantitatively, wherein determined images will be presented to respondents, and will be asked to choose which image best fits the product cited in the survey.

To evaluate the research conducted, I will cross-check the survey results, ensuring that the conduct of research was conducted in either one of the following manner: (1) a homogenous group of respondents were given equal chances to view animatics of different kinds of Akire Ferret Farm ads, showing different ferret food, or (2) showing of one kind of Akire Ferret Farm ad to three or more different groups that are considered homogenous in almost all major qualifiers, except perhaps for a distinguishing factor distinct in the group (i.e., occupation of respondents, geographic location, product patronized, among others).

Possible categorizations for the proposed evaluation of the Akire Ferret Farm researches would also be based on the two evaluation options provided. One possible problem definition that will be generated from the secondary data would be, what the differences among consumers are that preferred one particular ad presented by the research firm for viewing (might be ad a, B or C). Or a reverse procedure can be done: instead of determining the socio-demographics of respondents from the ads shown, the study may be evaluated based on a specific sociodemographic characteristic -- that is, which groups prefer what kind of product from the company. Upon determination of these categories, cross-tabulation and relational analyses will then be conducted with other variables and factors determined in the previous research. From the secondary data, new insights will be generated, based on either the product kind or segment/target market characteristics.

One of the best sources available of data that provides longitudinal data of product preferences would be handbooks produced by trade and industry agencies, specifically focusing on relevant government and/or non-government agencies that produce such data on a specific kind of industry. Another source of longitudinal data would be market research companies/agencies, especially those who have engaged in the conduct of research on the industry or product of interest. A third source of this kind of secondary data would be, ultimately, major players of the industry itself. That is, if the data to be obtained and monitored over time would be determined and analyzed, the company or corporation producing products related to the industry to be analyzed will provide more useful and insightful information and data. However, obtaining this kind of information can be difficult, especially if the request is being done by a rival or competing company. To avoid user bias in the data that will be used for monitoring and analysis, it is prescribed that longitudinal data on product preferences be obtained from third-party data generators such as government and/or non-government trade and industry agencies. These agencies will ensure the fair assessment and recording of data, documented objectively and for purposes of information provision and research only.

The focus group discussion would be more productive if the female ferret owners will be engaged in a creative activity wherein they will verbally share, envision, and possibly draw ideas on what they may consider as the "ideal" ferret toy. Through this activity, the moderator and company will be able to draw out ideas on the needs, met and unmet, of ferret owners with regard to ferret toys.

Telephone surveys are easier to use and can be accomplished faster; however, this kind of interview could lead to high refusal rate due to technical problems and can yield only shallow data due to the short period of interaction between interviewer and respondent. Personal interviews provide more interaction between interviewer and respondent, and can provide better clarification and probing on responses. However, personal interviewers can take too much time, and can result to interview fatigue, which may affect survey results. Mail surveys are easy to administer and cheaper in cost; however, this kind of survey has the highest refusal rate, and results may no longer be relevant due to this time lag. Electronic mail surveys is easiest and fastest to administer; however, they tend to be ignored and considered as spam mail and responses cannot be clarified further since respondents cannot be tracked easily because surveying is in online mode.

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