What are the objectives of your research? Who are the stakeholders? What is the type of data you will be collecting? What methodology of collection of data will you be utilising? What is the budget of marketing research? Before starting with the BK210 Market research assessment, a student is supposed to have an in-depth knowledge of all these areas of marketing research. Sometimes, university students don’t have that practical knowledge to put into their solutions and that’s when the need for expert advice comes into play. Having said so; if you would like to go ahead with BK210 market research assessment answer, then this blog will be of great help for you! In this blog, I have discussed the major arena of the type of market research and the topics you will be studying in the BK210 assessment.
What are the types of Market Research Methods?
BK210 Market Research Assessment is focused on how to explore the market by knowing the business market problems. This assessment also helps marketing students to gain market research capabilities for collecting details, learning to strategise the design of the survey, the significance of survey investigation, examination, assessment and understanding of the outcomes. Below are some of the market research methods that are commonly used:
- Desk approach
In the desk approach, interpretivism viewpoint is taken into consideration to sketch the investigation. The desk approach is commonly used as it studies the answers of the respondents of the statistics gathering approaches. Desk study also helps in integrating human attention in the survey. To frame the findings of the study, one has to make use of both primary as well as secondary data. In this exploration, the liberty is up to the investigator to the manner of the way being utilised, which can be the inductive approach or deductive approach.
- Qualitative research
Qualitative research is basically into collecting all the data that is not quantifiable and is usually exploratory research. The qualitative research helps in getting to know the fundamental factors, sentiments, and impetuses. It offers understanding into the issues or aids in developing the ideas or theories for prospective quantitative research. This type of market research varies using amorphous or semi-structured ways. Some of the most general ways are inclusive of one-on-one interaction, particular squads, and explanations. The sample size is generally not that big, and respondents are chosen to fulfil a given apportionment. It is also to be noted here that this particular research is done according to the most appropriate way as per the hard-headed approach.
- Quantitative survey
The opposite of a qualitative approach is a quantitative approach. In this, it is founded on practicality. It helps in executing the notions that are gained from a specific way. In addition to this, it helps in commencing an examination of the variables as well as describes the association amongst them, thereby, testing the hypotheses. To obtain the data from the market, a quantitative method is done in a quantifiable form. Again, a quantitative survey is done according to the pragmatic approach. This type of survey is conducted in a particular locality wherein a structured questionnaire is given to the participating contenders.
- Data collection methods
The data collection method is a way of collecting market data on the type of research method, qualitative or quantitative. In this research, surveys and questionnaires are shared that are paper-based and web-based using Google forms.
Topics Covered Under BK210 Market Research Assessments that You Should Know
Below are the major topics that you should be familiar with:
- Introduction to the marketing research process
- Marketing research ethics
- Quantitative and qualitative research tools
- Sampling designs
- Data analysis
- Data discussion
- Marketing research report
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