Through this, the company can give their product to test customers response under real life conditions. The company can improve the product or services, adjust the prices and also improve the packaging. (Research Optimus, 2018) Once the primary data collection is complete, the researcher will gather qualitative and quantitative information and put the data in the tabular format for clear understanding and knowledge. Researcher can also make the chart on the basis of the data collected. The company may take necessary action on the product or services and modify the same.
Quantitative research is a method to quantify data with a combination of deductive logic and empirical observations to define and identify what factors or variables in the population that influence an outcome. The data is collected by using structured data collection instruments such as content analysis, discourse analysis, questionnaires and surveys to produce a narrow-angle lens which is able to eliminate biasness. Quantitative research is an important research approach to test the hypotheses and statistical analysis is developed to support the hypotheses. (Park, 2012) It is often designs in closed-ended questions to gather and interpret the data from a large sample which will be the representative of the whole population. Qualitative research
Cooper & Schindler (2003) identified that two broad research methods are often used across various studies for logical reasoning. Two broad categories of research approaches are deductive approach and inductive approach. Research approach is usually selected by the researcher depending upon the nature of study and its specific requirements. In an inductive approach, the researcher first begins to collect relevant in accordance to the study under discussion. Once a substantial amount of data in the form of previously conducted similar studies, the researcher tries to understand the concepts and looks for patterns that could provide explanation to our identified research problem.
For this research, Quantitative study was used as it involved deduction. Hypotheses was formulated; the dependent and independent variables were identified which assisted in measurements of objectives. Data was collected by using close-ended questionnaires. 5.1 Research paradigm According to the requirements of research question, it was decided that it would be appropriate to choose the positivism approach as the philosophical assumption and research paradigm for the study. Besides this, the quantitative approach was used during this research.
The likert-scale seemed to be an effective way to measure this information because it allowed people to speak what they felt through a variety of provided options. Knowing the information that they gained from this study will help those who are trying to persuade people through testimonials and informational methods to decide which option would be the best depending on the audience that they are trying to
These are a perfect fit for RunAMOK to choose for conducting their research. Focus groups are a form of research in which a group of people are asked about their perceptions, opinions, beliefs, and attitudes towards a product, service, concept, advertisement, idea, or packaging. When using focus groups the questions asked by the moderator will stimulate a conversation, which in turn will lead to data and insights which would be less achievable without the group setting. Using this method RunAmok can stimulate memories, ideas and experiences in other participants which could yield exciting ideas for the business to avail of. Also by obtaining people’s views who are not directly involved in the business, any problems or potential problems can be ironed out before they become a real issue.
At the same time, it is also essential for Marks and Spencer to determine the marketing and management capabilities needed to maintain the achieved market and competitive position. For the assessment of business strategic feasibility company before new product development should en sure whether they have enough technological and human resources to manage business functions effectively or not. However, Marks and Spence assessed all of these aspects at the planning phase of new product line which ensured that organisation have feasibility to manage specific strategic changes effectively with respect to timing. In consideration to qualitative and quantitative aspects of strategic proposal it is evaluated that with new product and market Development Company can
The tool is used as an analysis to illustrate how the company has set out to achieve its successes; as it relates to H&M the tool will focus on the company’s present and potential products as well as it customers. With taking into consideration of the ways that H&M can expand on its new and existing products in the existing and new markets. To provide an analysis on H&M, the analysis will focus on three aspects of the matrix; the market development, market penetration and product
The atmosphere of these groups is to inspire the participants to freely speak about behaviors, attitudes, and opinions they have, staying on the subject. Group interaction is observed during session because the heart of the data is in group dynamic (p. 160). Focus group interviews provide a means for qualitative data in some settings for situations where a one-shot collection is necessary. One – shot data associates with surveys and questionnaires, in some cases, focus groups may serve the same purpose. A targeted group of interest to social scientists may only be available for a short time.
This paper will basically describe two general approaches to gathering research. Those approaches are qualitative and quantitative. The qualitative approach to research is focusing and understanding something from a closer perspective. The quantitative approach tends be seen in mannerism from a larger number of individuals who use survey methods. This paper will also reflect the difference between quantitative and qualitative research methods, as well as compare them.