quantitative marketing research
report: results, discussion, and recommendations Assignment instructions
Overview
In today’s fiercely competitive
business environment, companies cannot afford to make decisions based on
guesswork or assumptions. They need reliable qualitative or quantitative data
and insights to develop effective marketing strategies, understand consumer
needs and preferences, identify market trends, and stay ahead of their
competitors. Marketing research provides organizations with valuable
information about their target audience, allowing them to make informed
decisions and tailor their offerings accordingly. This assignment provides the
student with the opportunity to practice developing marketing research reports.
Instructions
In 850–1,150 words, you will
write the results, discussion, and recommendation section of the
paper. The current APA heading of this section must
be “Discussion, Conclusions, and Recommendations”.
Results:
Begin by
restating the research question and
hypotheses. Then, use Microsoft Excel’s statistical
functions to obtain the descriptive statistics (mean, median, mode, and
standard deviation) and the inferential statistics (one-sample
t-test). You will conduct a one-sample t-test to determine if the
average response of the sample population you surveyed is
significantly greater or less than the hypothesized population
mean.
One Sample T test Steps:
Steps to
calculating a one sample T test can be found in Module 6: Week 6 –
Data Preparation for Analysis.
A quick
way to calculate a T test:
1.
Create an Excel
spreadsheet with two columns.
2.
The first column
should have all of the responses from the survey except for the
demographic data. For example,
type your data into cells A1:A30.
3.
Calculate the average
of your data in the first column. (This data will be used in
step 4).
4.
Type the average
calculated in step 3 into the second column. For example, type
the average into cells B1:B30.
5.
Enter the following
syntax directly into an empty cell: =T.TEST then double
click.
6.
After double clicking
you will see T.TEST(array1,array2,tails,type).
7.
Here, array1 refers to
the data in the first column (e.g. A1:A30), array2
is (B1:B30), tails refers to
whether you want to run a one- or two tailed test (for
this statistical test you are
running a two tailed test so number 2 is entered,
indicating a two-tailed test;), and
the type refers to: 1 = paired test 2 = two sample
equal variance test 3 = two sample
unequal variance test.
8.
Based on the given
data set example, the formula should be
=T.TEST(A1:A3, B2:B30,2,2).
After the
statistical analysis of the descriptive statistics is
completed, you will summarize the data for each question by
presenting at least 1 form of central tendency (or
average), that is, either the mean, median, or mode, and the
standard deviation (e.g., the mean age of the 32 participants
was 40 to 60, SD = 4).
Discussion:
Lastly,
summarize the inferential or t-test results by explaining if the
researcher rejects or fails to reject the null hypotheses based
on the “p” value (e.g., a one-sample t-test was conducted to
determine the p-value is p = 2.6, which is greater than
0.05. Since the “p” value
is greater than 0.05, we fail to reject the null
hypothesis that price increases had no effect on the sales of grills at Home
Depot).
Recommendations:
After
analyzing the results, provide a summary of the key findings of the research
and formulate your recommendations to the leadership within the
selected company for resolving the issue. Make sure to highlight
specific strategies for implementing the recommendation.
Incorporate
at least 3 scholarly or peer-reviewed resources.
Note: Your assignment will be checked
for originality via the Turnitin plagiarism tool.