Question

In: Accounting

Is it necessary for every research project to have a set of hypotheses? Why or why...

  1. Is it necessary for every research project to have a set of hypotheses? Why or why not?
  2. What is the role of the researcher in the problem definition process?
  3. How may a marketing researcher be creative in interpreting a research brief and developing a research proposal?
  4. What is the significance of the ‘background’ section of a research brief and research proposal?
  5. Describe some of the reasons why management is often not clear about the ‘real’ problem they face.
  6. What interrelated events occur in the environmental context of a research problem?
  7. Describe the factors that may affect the approach to a research problem.
  8. What are the most common forms of analytical models?
  9. What are the differences between research questions and hypotheses?

Solutions

Expert Solution

No, it is not necessary for every research project to have a set of hypotheses.

Many research projects just measure a property of a thing, where the combination of thing and property hasn’t been measured yet. For example, the electrical resistivity at decreasing temperatures for a newly made material. There might be a hypothesis that the new material is a superconductor. But the electrical properties are worth measuring even without the hypothesis.

Other research projects calculate properties of interesting materials and structures of materials.

Role of the researcher in the problem definition process:

History

  • How long has the company been established?
  • How long has it concentrated on its present product range?
  • What was the company’s product range originally, and 10, 20, 30 years ago?
  • Has the company always been sited in its present location?
  • What factors have influenced its location?

Company Background

  • What is the principal business of the company? What are its subsidiary activities?
  • What is its total turnover – (a) UK (b) exports?
  • Describe any holding companies/subsidiary companies
  • How many employees are there at the establishment?

Product Details

  • What are the important products (or services) in the range (by size, capacity, shape, material, etc)?
  • What proportion of the total turnover does each of the above groups account for?
  • To what extent are the products standard/custom built?
  • What proportion of an assembled product is made in-house or bought out?
  • How important are spares in terms of revenue v profit?
  • Are any of the products built under licence?

Pricing

  • What are the prices for each of the important products (are these prices trade or retail)?
  • How do prices compare with those of the competition?
  • Is there a published price list?
  • What is the discount policy?
  • What power does the salesman have to alter prices?
  • How price-sensitive is the product?

Sales Force

  • Number of representatives
  • Are they a general or a specialized sales force – in what way are they specialized?
  • How many calls a day do they make?
  • Does the salesforce bring back orders or are they sent in independently?

Markets

  • What are the major user markets for the products?
  • What proportion of total sales are to each of these markets?
  • Are any markets known for the product where the company currently does not/cannot sell?
  • Which markets are believed to offer the greatest scope for expansion of sales?

Decision Makers

  • Who are the key decision makers who specify and buy this type of product? What roles do they play?
  • What do decision makers look for from suppliers? PROBE price, quality, delivery, sales service?

Competition

  • Who are the most important competitors? Where are they based?
  • What is their rank order/market share?
  • What are each company’s (including the client’s) perceived strengths and weaknesses?
  • To what extent do competitors rely upon this market for their turnover and profit?

Quality

  • Where does the product fit against the competition in its quality?
  • What are the special features of its quality?
  • Where is it weak on quality?
  • How long will the product last?
  • When it finally fails, why will it do so?

Deliveries

  • What is the current delivery period?
  • What is the competition’s delivery?
  • What is the ideal delivery?

Distribution

  • How is the product distributed?
  • What proportion goes direct/indirect? What is the policy which leads to this split (eg size of account – OEM v replacement etc)?
  • What are distributors’ margins?
  • What other products do distributors sell?
  • Do distributors actively sell or just take orders?
  • Who are the major distributors
    • (a) used by the company?
    • (b) not used by the company?

Promotion

  • How big is the promotional budget?
  • How does this break down between:
    • (a) media
    • (b) exhibitions
    • (c) PR
    • (d) print
    • (e) direct mail
    • (f) web sites?
  • Which media are used? Which are most successful?
  • What proportion of sales leads come from promotion? How many? What is their quality?
  • Which exhibitions are attended? What is their perceived value?
  • What opportunities exist for e-commerce?

Other Data

  • Full details of names (initials as well) of persons present at briefing; date of briefing; address of company; address to which proposals should be sent
  • How many copies of the proposal are required – to be sent separately or en bloc?

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