Question

A company is engaged in the manufacture of certain leather consumer products. The products are shoes, ladies leather hand bags, purses and belts. The company accounted for about 10% of the market share in shoes, which is its main product. Since last year, the company has been facing stiff competition from another firm which has come up recently in the city. This is reflected in the declining monthly sale. The company is concerned over this development and would like to regain its hold over the shoe market. At a recent meeting of the board of directors, a decision was taken in favor of a systematic study by an outside expert agency. As a marketing consultant for the expert agency, how would you answer the following questions?

Questions:

(a) Write the research objective for the given problem.

(b) Which method of data collection would you select any why?

(c) Briefly explain the sampling design you would adopt for the study

Answer 1

1. There are two types of research objectives; primary and secondary objectives. Research objectives describe what the researcher wants to achieve from the research/study. They are formulated after the research problem is finalized.

In this problem the research objective is to understand that what are the main reasons for decline in sells of company. And to collect statistical data of different age geoups and thiir preferances.

2. Data collection is a methodical process of gathering and analyzing specific information to proffer solutions to relevant questions and evaluate the results. I will select "questionnaires and surveys" method of data collection. Because this method of data collection help directly achieve the research objectives, provides complete and accurate information; is easy for both interviewers and respondents to complete, is so designed as to make sound analysis and interpretation possible and is brief.

3. I would adopt "STRATIFIED SAMPLING" design for study. Because Stratified sampling divides the population into groups called strata. The population might be separated into males and females. A sample is taken from each of these strata using either random, systematic, or convenience sampling. A stratified sample can provide greater precision than a simple random sample of the same size. Because it provides greater precision, a stratified sample often requires a smaller sample, which saves money.

Thank you.