Critical Examination of Market Research for a Proposed Proje
Critical Examination of Market Research for a Proposed Project
1.Introduction This document is a commentary that critically examines the research proposal for investigating the impact of marketing activity in the recruitment of students from the Republic of Ireland to the University of . This commentary looks at the rationale for carrying out the research and how the research methodology was derived. Before embarking on any research project Zikmund (2000) suggests that a cost-benefit analysis be undertaken. Questions that should be asked include: a) Will the pay off or rate of return be worth the investment? b) Will the information gained by research improve the quality of the decision to an extent sufficient to warrant the expenditure? c) Is the proposed research expenditure the best use of available funds? The cost in this scenario for research is £2,000 plus researcher's time. If the research identifies ways of attracting more students to the University then this should generate more than sufficient funds to justify this expenditure as well as ensuring that the substantial sums invested in normal activity does produce some benefit.
2.Defining the problem As Smith and Fletcher (2001) point out " a problem defined is a problem half solved". The nature of the problem at is multifarious. A lack of evaluation and assessment has not been developed to adequately judge the value of activity and by default does not allow for planning and allocation of resources to increase the impact of marketing activity or decide that resources can be better allocated elsewhere.
If the management at the University of can have information on: <sum> How many students come from Ireland? <sum> How were they attracted initially to the University? <sum> What activity conducted does attract students? <sum> What percentage of the market share do we have and is there room for expansion? Market research should clarify whether current perceptions are correct and give them evidence on which to base future decisions. But in order to do this the research objectives will have to be defined. This is important because as Hague and Jackson (1999) state " every research project should have a defined and explicit objective which succinctly states why the research is being carried out" and "all other aspects of planning and carrying out the research flow from this perspective". To define the research objectives and thus get a better understanding of the research problem exploratory research will be used. This will...