Managing Research Design - A Study on the CoffeTime Company
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Research and Decision Making Assignment
Can you held with the assignment by viewing the "Managing Research Design" simulation and address the following question in about 350 words:
How do the limitations of the data available to CoffeeTime affect the validity and reliability of the data?
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https://ecampus.phoenix.edu/secure/resource/vendors/tata/sims/statistics/statistics_simulation1.html
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Solution Summary
The attached formatted MS Word file contains a discussion on the subject of managing research and product design for the CoffeTime Company.
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Global marketing is becoming more and more important through the years with the increasing trend towards internationalization. Having too many choices, marketers face the challenge of determining which international market to enter and the appropriate marketing strategies for the countries they are planning to penetrate.
For a company such as CoffeeTime, which is considering expansion into a new market, let alone a foreign one, it is extremely important that the company conduct extensive primary as well as secondary market research so that it might gain a better understanding of its potential customers, its competition, and the industry in which it will operate. The results of which will make all of the company's business decisions smart ones.
Asking a question like "how many cups of coffee have you consumed in the past thirty days?" breaks the second of what Laura Lake, author of "Researching Your Market," defines as being the Two Rules of Primary Research, that the questions be exploratory and specific. While the first few words of the initial question can be described as being exploratory, the remainder cannot be considered to be specific; as most people cannot remember what they wore thirty days ago, let alone how many cups of coffee they may have drank. Leaving the question as it stands would lend itself to vague, inaccurate recollections of what a person believes that they may have consumed, instead of what they actually may have drank. Modifying the question to "how many cups of coffee have you consumed in the past week?" would result in more reliable data, as the period of inquiry would be of a shorter, more ...
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