Reference no: EM131053166

Part 1. Knowing what our objective is and the importance of what you are researching is so vital to being efficient and obtaining the answers you need. Market research for the company. This particular research is which customers we are able to retain, and which are more likely to leave the company. It goes over why our customers shop, why some leave, assessing how your office is doing, and also how to put a plan in force to retain more business.

Part 2. Research design is the detailed blueprint used to guide a research study toward its objectives. This design plan is important to use when conducting a market research study. It is the plan or technique of shaping the research; it aims and plans within practical constraints of location, time, cost and resources. This design process holds a solid base for the research process, when the beginning of a research design is properly identified it can give the research study positive success. By using this research design it makes research effective by providing maximum information with minimum spending of effort, money and time. For example when building a house you need to have a blueprint made by an expert architect, this plan must be carried out carefully because any mistake could mess up the whole purpose of the entire project. By using this blueprint or design you can organize ideas in a coherent way.

The research design method cuts down on inaccuracy, wastage of time, and confusion. The design process provides smooth sailing by setting boundaries, firm foundation, gets rid of bias and marginal errors, and leads you down the right path. The steps in the research design process are the planning and information system which lead into the research approach consisting of alternatives, problems or opportunities, and research users. Than going in to the research objective where research questions are asked, a hypothesis is developed, and boundaries are distinguished. Then you move into the estimate value of research information, going in to the research approach which is handled by exploratory, descriptive, and casual approaches. Then you go into the research tactics, than compare costs and timing estimates with anticipated value than finally data collection and analysis.