Dare to Asked Mian Aamir (All about research) Part III

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Dare to Asked Mian Aamir (All about VU final Research Project)

Asalaam o alaikum
Sir,
what is the importance of Marketing Research? is its application equally important for all industry??
Regards,

 Replied

It is a matter of great satisfaction that you have used this platform by sending your query related to current lecture. The query posted here is about “Importance of Marketing Research and its’ Application” This topic is explained briefly in the current lecture and further elaboration of the topic you will find in different lectures.

Generally the concept of research is applicable to all kinds of fields for the purpose of gathering meaningful data to get insight/explanation of what which is unknown or for which the enrichment of awareness is needed.

In marketing, learning is not the sole purpose of research rather it is carried out to make critical, good and rational decision making. Decisions are always based on some facts and these facts can be extracted from different sources and marketing research is one the most common and comprehensive source which provides a pictures about what is occurring in the market and provides different choices that can be suitable for a particular market.

A marketer may make different marketing decisions like:

  1. How to survive in the competition
  2. Selection of Target Markets
  3. Maximize Profits
  4.  Increasing Sales

An organization operating in any industry may also require taking these kinds of decisions and therefore marketing research can benefit a lot.

Hopefully this reply may clarify the ambiguity regarding the topic. If still you need any clarity about topic then feel free to send your queries again at qundeel.com@gmail.com

 

Asalaam o alaikum,

 Sir, can please elaborate further Marketing Manager and Marketing researcher?

Regards,

 Replied

Dear Student

It is a matter of great satisfaction that you have used this platform by sending your query related to current lecture.

 Generally, the mindsets of a manager and a researcher vary fairly however with the passage of time and advancement in the professional career, many researchers become managers.

 The job description of a manager is quite different from a researcher. Predominately, a manager involves in planning, coordinating and directing activities within an organization or department. For example a marketing manager usually looks after the activities related to advertisement and promotion, development of plans related to product launching, market development or penetration etc. The position of a marketing manager in the organization is managerial level who involves in decision making.

 On the other hand, a researcher’s position in the organization is kind of staff whose prime responsibility is to implement those decisions made by marketing manager or generate meaningful information helpful for marketing manager to make decisions.

Hopefully this reply may clarify the ambiguity regarding the topic. If still you need any clarity about topic then feel free to send your queries again at qundeel.com@gmail.com

 

Respected Sir,

Asalaam o aliakum,

Observation method, sir can we use multiple methods of observation in research while using observation?

 Regards,

 Replied

Dear Student,

It is pleasing to see that you are taking interest in your studies. As per your query, each method of observation has certain characteristics and they fulfill the requirements of specific situations. For example to know the traffic flow in a departmental store; personal observation can be an appropriate method but to know the response of viewers on an advertisement; mechanical observation is suitable. If we talk about the use of different observation methods in one study; we can use them but it happens in very rare situations where one method of observation does not fulfill the requirement of research being conducted. Take the example; a study is conducted in toy shops to find out the influence of kids on purchase decision of parents. Different observation methods can be used such as personal observation to observe the expressions and conversation of kids with parents and mechanical observation such as digital billing machine to know what actual product is being bought. So, in common scenarios; single method of observation is sufficient but in situations where one single method does not provide sufficient information; multiple but methods that complement each other can be used.

Hopefully this reply may clarify the ambiguity regarding the topic. If still you need any clarity about topic then feel free to send your queries again at qundeel.com@gmail.com.

 

Sir

Please define the function of Experiment Design

 Replied

Dear Student,
It is pleasing to see that you are taking interest in your studies. In experiment, researcher creates a situation to manipulate one or more independent variable and measure its effect on one or more dependent variables, while controlling the effect of extraneous variables. When a researcher conducts an experiment, it is essential to lay down set of procedures also called experimental design.

It specifies four concepts, which are as follows:

1) In experimental design selection of test units is important. Test units are those units on which experiment is conducted. Test units can be consumers, geographical areas or stores. How many of these units are to be selected along with the procedure to select them has to be explained while conducting experiment.

2) Experimental design also includes explanation of manipulation of independent variable/s and also which independent variables are to be selected for study.
3) What dependent variables are to be measured?

In order to understand point (2) and point (3); let’s take an example. Researcher wants to note down the effect of promotional activities (independent variable) on sales (dependent variable); for this lucky draw scheme is introduced in one store and in other store no such scheme is applied. Now to see the impact of independent variable on dependent variable; difference of sales of both stores will be calculated. So in designing experiment; we should know which is independent and dependent variable and how the impact of independent will be calculated on dependent variable.

4) Lastly, how the extraneous variables are to be controlled should be known. It’s essential to control extraneous or external variables so that the true impact of independent variable on dependent variable can be measured.

Hopefully this reply may clarify the ambiguity regarding the topic. If still you need any clarity about topic then feel free to send your queries again at qundeel.com@gmail.com.

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