The costs of the data collection methods discussed.
Data collection methods Costs
Selected data collection method 1: focus groups $10,000
Selected data collection method 2: one-on-one interviews in person or by telephone $5,000
Selected data collection method 3: use of questionnaires and other tools by staff to record data about enterprise activities $3,000
Total costs $18,000
Your recommended options for collecting and analysing the data, including a consideration of the costs of data collection against the budget.
Data collection methods Costs Budget
Selected data collection method 1: focus groups $10,000 =
Design focus group questions: $ 500
Set up the discussion establishment: $500
Invite the participants to attend the focus group discussion: $300
Accommodations and travelling: $8,700 $10,500
Selected data collection method 2: one-on-one interviews in person or by telephone $5,000 =
Design …show more content…
To be more competitive in this industry we need to be equipped with the better knowledge and understanding of our market trend and conditions. Therefore I propose that we need to conduct the market research to be more knowledgeable with our industry. The summaries of reasons are as below:
Function and importance of market research: use the industry best practices as the key performance indicators and guidelines to help the company to evaluate and measure the success of its marketing performance and activities. And collect the business information and input from competitors, clients, stakeholders to conclude and get the insightful business ideas for improvements.
Churras&CO market position: from the brand awareness, product quality and company image feedback measurement and analysis, their market share has gained more than above 60% which is a positive and healthy indicator for the
Data collection methods Costs
Selected data collection method 1: focus groups $10,000
Selected data collection method 2: one-on-one interviews in person or by telephone $5,000
Selected data collection method 3: use of questionnaires and other tools by staff to record data about enterprise activities $3,000
Total costs $18,000
Your recommended options for collecting and analysing the data, including a consideration of the costs of data collection against the budget.
Data collection methods Costs Budget
Selected data collection method 1: focus groups $10,000 =
Design focus group questions: $ 500
Set up the discussion establishment: $500
Invite the participants to attend the focus group discussion: $300
Accommodations and travelling: $8,700 $10,500
Selected data collection method 2: one-on-one interviews in person or by telephone $5,000 =
Design …show more content…
To be more competitive in this industry we need to be equipped with the better knowledge and understanding of our market trend and conditions. Therefore I propose that we need to conduct the market research to be more knowledgeable with our industry. The summaries of reasons are as below:
Function and importance of market research: use the industry best practices as the key performance indicators and guidelines to help the company to evaluate and measure the success of its marketing performance and activities. And collect the business information and input from competitors, clients, stakeholders to conclude and get the insightful business ideas for improvements.
Churras&CO market position: from the brand awareness, product quality and company image feedback measurement and analysis, their market share has gained more than above 60% which is a positive and healthy indicator for the