MT355M4-4: Prepare a business solution based on data analysis and interpretation.
Business leaders rely on the work of marketing researchers to make decisions that will impact revenue generation and the profitability of the company. The data analysis and interpretation phase of a marketing research project is a critical process that is highly scrutinized for accuracy and validity. Marketing researchers must take great care in analyzing data that will be interpreted and turned into information for the purpose of solving the research problem or capitalizing on an opportunity that was under study.
Scenario:
You are the new director of marketing for your chosen company. As the director of marketing for your chosen company, you must be willing and able to take on multiple projects at once. Moving on from the important marketing research project you have under development, you have a new task assigned by the chief executive officer (CEO) of your company. As part of a public relations initiative, you will present a research study at an upcoming conference. This is your time to shine. The CEO would like to approve your presentation topic. Prepare a business report for the data collection, analysis, and findings sections of a study to the CEO of your company. Developing an ability to obtain and process information for decision-making as a marketing director will be a valuable addition to your business tool belt.
Assessment Requirements:
You will use the Purdue Global Library to locate a marketing research study in an academic peer-reviewed journal. Using the marketing research study, you will prepare a business solution based on the interpretation of the data analysis.
Prepare a business report based on the analysis of data in a marketing research study.
Choose Your Company: Choose an award-winning company from the Baldrige Performance Excellence Program website to study. You will evaluate the “Award Application Summary” as a business case for your company.
Article Details: Review a scholarly article found in the Purdue Global Library on global marketing research. The article you choose from the Library should be based on the topics of “competition in the global environment” and/or “communications in the global environment.”
The marketing research article must be relevant to a specific industry, business, or product related to your chosen company.
The marketing research article must be published in a peer-reviewed academic journal.
The marketing research article must be published within the past 10 years.
The marketing research article should have some relationship to global marketing research from a collaboration and competitiveness perspective.
Article Summary: Prepare a synopsis of the chosen marketing research article.
Prepare a three (3) paragraph summary of your chosen research article by explaining its importance to your chosen company, the industry in which the company operates, or a product your chosen company sells from the perspective of “global competition” and/or “global communication.”
Data Collection Methods: Give details about the data collection conducted in your chosen article.
Identify the data collection instruments used in your chosen article.
Explain how the process of data collection is employed in the research conducted in your chosen article.
Explain the sampling and measurement approach employed in your chosen article.
Principles of Information Analysis: Explain the principles of information analysis.
Provide three (3) examples of how the research in your chosen article adheres to the quantitative, or qualitative principles of information analysis (refer to Chapters 9 and 10 in your textbook).
Data Preparation:
Provide three (3) examples explaining how the process of quantitative or qualitative data handling, preparation, and analysis was employed in the study of your chosen article.
Credibility: Explain how credibility is established in data analysis.
Provide three (3) facts that made the study in your chosen article credible (refer to pages 246-248, and 261-263 in your textbook).
Informing Marketing Decisions: Prepare a report based on the data analysis in a study to provide business solutions for a marketing research problem.
Explain how the results of the data analysis answer the marketing research questions as presented in the article of your chosen study.
Explain how the results of a data analysis can be used to inform marketing decisions.
Interpret the results of a data analysis using non-technical business language.
