Reference no: EM131033799
Task: Define market research objectives
Define market research objectives for Screws, Bolts and Nuts and the scenario they are facing by completing the following activities:
- Prepare a draft set of research objectives based on the market research needs you identified in the previous tasks using SMART principles
- Draft a preliminary project scope, ensuring it includes both what the project will and won't encompass
Once you have written your objectives and project scope, submit them to your trainer through LEARN in form of an email as though they were still in the role of the stakeholder you interviewed in the previous activity. Wait for a response from them that comments on the work you have done.
Once you receive a return email from your trainer that provides further commentary on your objectives and scope, review your draft research objectives to accommodate scoping parameters and revise any of them that don't appear to fit within the scope you have developed.
Amend your objectives and scope as required and submit it through LEARN as part of your portfolio of evidence.
Your answer should:
o reflect discussions with relevant people
o target issues specifically raised during the consultation process Demonstrate how input by the relevant people has been accommodated in the new market research objectives.
Task: Define data gathering approaches
Define your approach to data gathering for Screws, Bolts and Nuts' market research by completing the following activities:
- Identify types of data you believe will be required for this market research project and data sources you think should be used to inform the agreed research objectives. Justify your choices.
- Determine the combinations of data which will best inform required research objectives. Justify your answer.
- Identify, evaluate and justify your choice of data gathering options.
- Quantify and justify data required for the research.
- Identify, evaluate and justify data processing options.
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