Conducting exploratory research
Once the topic is approved, you should look for information in library databases and on the internet about the industry, the organization and the product/service you have selected. A good strategy would be to start with the sources identified in the Business Research Tutorial, and then go wherever your search takes you. You may also get useful leads from the Reference Desk in the Library.
Your objective is to look for answers to the following questions:
- What is the market size and growth rate?
- What is the product’s positioning and market share?
- Who are the major competitors?
- What segments exist in the market?
- What is the potential for future growth in these segments?
- What are success factors in the industry?
All this information may not be directly relevant to your research objectives but will help you understand the context of the marketing problem. It will also be useful in designing the questionnaire. You can include any information relevant to your topic in the final project report later.
In addition to library and internet research, you should interview (a) 3 or more consumers for information about products, benefits, attributes, shopping habits etc., and (b) one or more “experts” for background information about the market, companies and products. “Experts” could be company managers, retailers, sales people, etc. (note that consumers are not usually considered experts). While a focus group of 6-8 consumers can be very useful at this stage of a research study, that is not a requirement for this project given the limited time you will have available.
Questions you need to ask at this stage might include (but need not be limited to) the following: where, when and why do consumers buy the product/service? What are the important attributes in making a purchase decision? What are their information sources? What are the influences on decision‑making? What needs do products fulfill? What needs do they not fulfill? What moods/emotions/values are associated with the different products? Which brands are preferred and why? Which brands are not preferred and why?
Project Proposal
This should be submitted after conducting the exploratory research. It can be up to 5 pages long and should include the following sections:
- Executive Summary: indicate the organization and product/service that you plan to study, along with a brief description of the marketing problem, why the research is being conducted, the key research objectives or questions, and the methodology and target population for the survey (maximum 250 words).
- Introduction: Describe the relevant background for the study, including data on the market size, growth and consumer behavior.
- Qualitative Research: Explain what type of qualitative research you conducted and summarize the findings. Make sure to cite the sources of information and describe who your interviewees were (consumers or experts).
- Research purpose and objectives: the marketing problem or decisions facing the organization (the reason the research is being conducted), and the broad objectives or questions that the research will address.
- Information Needs: specific pieces of information that are needed; these are derived from the research objectives and ideally will correspond closely to the questions you plan to ask in the survey.
- Sample and contact method: who will be eligible to participate in the survey, how you will identify potential respondents, how you will draw a sample, and how you will contact sample members.
- References: list all your published sources in the APA citation style. You can find documentation on the APA style on the Newman Library website and at http://www.bibme.org/citation-guide/apa.
Submit your proposal as a new post, using “Project Proposal” and your group number as the categories for your post.
After getting my comments you may need to revise your proposal before you can proceed to the next stage.
