Understanding markets Essay Example | Topics and Well Written Essays - 2000 words

Understanding markets - Essay Example Using different methods, Marketing determines the size of the market that is being approached but this has to be a controlled exercise otherwise the effort will be aimless. Marketing is a highly misunderstood word. It is not tactics or methods of getting customers to buy a company’s product or services. That is advertisement or promotions. It is a conscious effort to analyze and understand what is needed and trying to fulfill this need. But above all, Marketing is all about customers. Their behavior and attitude towards buying a product is of paramount importance. Their needs and wants and their likes and dislikes are decisive factors and purchase decisions depend on these issues. It is the understanding of these factors that will develop a marketing strategy. Therefore Marketing is all about understanding the customers and of finding ways and means to for providing product or service as per his requirements. â€Å"Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders†. (AMA). This comprehensively calls for Market segmentation and results in two way satisfaction of both customer and the stakeholder. Markets are heterogeneous and are created by reasons of different values, needs wants, constraints, beliefs and incentives. Customers differ in their values and perceptions and want to purchase things that have value for them. Value is not just the monetary part, but also the usefulness and emotions that with go with it. The need and want play a great role in determining this value. The price actually determines the location from which this purchase will be made. Service and reliability are other important determining factors. Therefore a market segment is a set of customers that have a common approach to above questions and have a common desire to purchase a common set of goods and or services.

Quantitative Research Questions and Hypothesis Assignment

Quantitative Research Questions and Hypothesis - Assignment Example These challenges relate to both the qualitative and quantitative aspects of data collection. These challenges may be tackled through the adoption of several strategies by the researcher. The challenge of reliability and accuracy of data collected may be tackled through the adoption of the strategy of using veracity software such as SPSS to analyze reliability and accuracy (Olsen, 2010). The challenge of inadequate time is also one of the most common issues facing researchers. In this regard, it is important that the dissertation task of data collection is started early enough in order to ensure that the process is not rushed thereby affecting its quality (Casley & Lury, 2002). Access to information, on the other hand, resents an even bigger problem since it is the most important aspect of the data collection process. In this regard the university’s resources and research databases such as EBSCO to access the required information is used. This will also be complemented by other sources such as Google Scholar and other personal learning materials such as text books. The challenge is the high costs of research in data collection. ... Your plan will include the following: Research problem Purpose of research Significance of research Quantitative Research questions and hypotheses Research design and rationale for its selection Be sure to include basic data collection considerations including sampling, population description, data collection procedures and feasibility of data collection Instrument description and validation Statistical analysis methods This assignment averages 1,000 to 1,200 words for most, please keep it short and simple. You are not here to summarize the theory or give definitions. Please apply the concepts directly to your topic of interest. Answer: The research will be undertaken on the self esteem levels of employees according to eight parameters: I feel good about my work on the job, on the whole I get along well with others at the workplace, I am proud of my ability to cope with challenges at the workplace, In moments of uncertainty at work I keep my cool, I feel a sense of belonging at my wo rk place, I have a good working relationship with my supervisors, I am proficient in handling talks without guidance or assistance, and I have the respect of my peers at work. In this regard, survey statement will be administered through questionnaires. The variables in this questionnaire will be buyer behavior and different promotional activities. These will be graded on a likert scale format in order to come up with levels of employee self esteem. These eight statements will be graded on the likert scale from strongly disagree, disagree, undecided, agree, to strongly agree (Jupp et al, 2006). Strongly disagree Somewhat disagree Somewhat agree Strongly agree I feel good about my work on the job Strongly disagree Somewhat disagree