Information for Decision Making Essay Example | Topics and Well Written Essays - 2000 words

Information for Decision Making - Essay Example The research methodology used in the paper is both qualitative and quantitative. Sampling has played an important role in data collection process. The sampling was supported through questionnaire. Data analysis provides the results based on findings. Cost and time table further emphasises on the need of budget and time for the research. Conclusion and recommendation gives an overview of the limitations and important of technology in an organisation. Table of Content Introduction 5 Background 6 Problem Definition 6 Research Objective 7 Research Design 8 Sampling 9 Data Collection 9 Questionnaire 10 Data Processing and Analysis 11 Reporting 12 Cost and Timetable Activities 12 Conclusion & Recommendation 13 Reference 15 Bibliography 18 Introduction Marketing research can be defined as the process of analysing, collecting and devising the required information. Marketing research is an important procedure for any company wanting to market its product in a new territory (Burns & Bush, 2007 , p.7). Marketing research methodology involves the explanation of the problem and the process to find the desired solution. The cause of problem and the research methodology plan are directly proportional to each other. Marketing research is an important component to collect the desired market information. Marketing research helps in identifying the problems and opportunities by linking the consumer and the marketer. It further evaluates and enhances the understanding of the marketing process and helps in finding the methods to make certain activities of marketing more presentable and effective (Schmidt & Hollensen, 2007, p. 19). Marketing research helps an organisation to modify the marketing-mix and also supports the activities which lead to the customer satisfaction. It is an important tool to make sure that both demand and supply are being taken care of by an organisation. In a broader sense it helps to develop a good equation between the customers and the suppliers (Bradley, 2 007, p. 4). Background The Royal Mint is the worlds oldest and the leading mint exporter. Founded over 1,000 years ago the Royal Mint has achieved the status of national treasure (Royal Mint, 2012). It is not only known for its art of coin making but high quality and craftsmanship makes it a worldwide leader. The Royal Mint is not subjugated to coin making only but is associated with craftsmanship of medals as well. UK might be the home to the company but it has its presence in more than 50 countries. The company which makes coins for UK has been roped in to make commemorative medals for the Olympics 2012 to be held in London. Over 1000 years of history and maintenance of the high quality artistry has made the company most sought after by different countries around the world. Technology has further improved the company’s structure and functionality. Technology has helped the company to keep a database of the customers and also build customer relationship through CRM system. P roblem Definition The problem definition is related to identifying the broad topic associated with research. The broad topic in relation to the research can be the problem faced by the Royal Mint in achieving the target of making medals for the Olympics 2012 along with meeting the deadline. The broad topic is further divided into narrow topic. The narrow topic is more related to the problems which can have an impact on the broad topic of the