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I need some assistance with these assignment. the purpose of market in business Thank you in advance for the help!
I need some assistance with these assignment. the purpose of market in business Thank you in advance for the help! Since it is the customer that is the foundation of businesses, it is important that market research is effective. It is a systematic organized procedure that primarily collects and analyzes information about the business situation before the actual business commences. It usually includes interaction with potential customers regarding their work, interests, opinions, trends and buying habits as well as paying attention to customer insights for future plans regarding products and services. The purpose of market research is to: 1) know the customer needs and wants. 2) to know if the customer is satisfied with the product or need. 3) identify potential target markets. and 4) establish the best advertising strategy for a given group of customers (Bull, 1994).
 .As a consortium of twenty-five tour operators in the United Kingdom that sells about 100 holidays and has 6000 customers that have already placed orders in the past, it is important to know which part of the services provided by the operators is most liked and least liked by the customers. This paper will try to present a method that will be able to answer the following questions.
This study is operated under the quantitative paradigm wherein the survey method will be utilized in order to elicit the relevant information needed to complete research (Frankfort-Nachmias & Nachmias, 1992). Besides, quantitative research plainly and distinctively specifies both the independent and the dependent variables under investigation (Matveev, 2002). It also follows resolutely the original set of research goals, arriving at more objective conclusions, determining the issues of causality and eliminates or minimizes subjectivity of judgment (Kealey & Protheroe, 1996).
The research variables were primarily analyzed in order to provide a description of the factors that concern the topic of the study. The variables of the study imply quantitative research wherein the data, situations, or other facts collected will be explained or correlated with other data. Basically, this research-based its findings through quantitative research methods because this permits a flexible and iterative approach. Through this method, qualitative elements that do not have standard measures such as behavior, attitudes, opinions, and beliefs are analyzed. As such, the information that the informants of the study shared to the researcher will be accordingly examined, analyzed and interpreted to answer the research questions presented.
In order to gather the necessary data, the research will employ the survey method. The survey method will be implemented in three successive data collection procedures. These include the pretest of the questionnaire, the actual survey, and the back-checking after the analysis of the data. The pretest of the survey is necessary in order to identify possible shortcomings of the instrument that may hinder the efficient collection of valid and reliable data. .On the other hand, the back-checking that will be implemented is to provide assurance that the results of the analysis are consistent with that of the available information and facts in the field.  .
