In: Accounting
A)
The effect of COVID 19 on the company’s sales will be conducted by the marketing and research department.
This is because it is the responsibility of the marketing team to monitor the sales. They are responsible for boosting the sale so anything that affects the sales positively or negatively is within the perspective of the Marketing team.
B)
The Steps involved in the Research of the Marketing team are
· Initial step here involves defining the problem. The problem in the particular case deals with the effect of COVID 19 on the sales of the company.
· 2nd step is to develop a research plan which deals with how exactly you intend to solve the problem and what it is exactly that you are trying to solve.
· Then the next step involves collection of Data. In marketing research, most of the data you collect will be quantitative (numbers or data) versus qualitative, which is descriptive and observational.
· The collected data needs to be analysed to find the findings. The findings from the analysis needs to reported.
· Next step involves developing solutions in response to the finds from the analysis.
· Finally the solutions developed above needs to be implemented.
C)
Questionnaires |
|
Advantages |
Disadvantages |
Inexpensive |
Dishonest answer |
Practical |
Skipped questions |
Fast Results |
Interpretation Issues |
Easy Analysis |
Lack of personalization |
No pressure on respondent |
Analysis issues |
Telephonic interview |
|
Advantages |
Disadvantages |
Large reach |
Effectiveness depends on interviewer |
Personalized |
May be negatively perceived by interviewee |
Cost effective |
Must be kept short |
Quick and Effective |
Not everyone has phone |
Personal Interview |
|
Advantages |
Disadvantages |
Accurate Screening |
High Cost |
Capture Verbal and non-verbal cues |
Effectiveness depends on interviewer |
Keep focus |
Manual data entry |
Capture Emotion and behaviour |
Limited Sample size |