BSBMKG607 Review Of Market Research Project And Evaluation Of Findings Assessment 3 Answer

Research project evaluation

Performance objective

This assessment task requires you to review the market research project and evaluate the findings that have been presented, as well as evaluating and recommending improvements to the research approaches and processes used.

Assessment description

You need to develop a report describing and evaluating the research undertaken and the findings presented.  As part of this report you need to review the project performance against the initial research project plan, and review the process for future improvements.

Procedure

From the case study provided you are required to prepare a final report on the market research process including information under the following headings:

1. Findings: A review of the research report provided to you by the consultant including:
   • a brief summary of the report findings
   • a description of how you confirmed the  validity of information and data included in the report
   • a statement assessing the relevance and usefulness of findings against research objectives.
2. Performance: assess the project performance against the research plan.
3. Review: A review of the feedback provided to you from various stakeholders (your assessor and classmates), and any changes to the process required by this feedback. Also review all of the monitoring reports and monitoring activities completed throughout the project (in AT2) and make recommendations for changes or improvements to the research process.

With your completed report you also need to submit a revised set of research guidelines (from Assessment Task 1) incorporating the changes noted in your report for use in the next market research project. 

Specifications

You must provide:

• A written Final Report (Steps 1-3)
• Written revised Research Guidelines for the organisation.

Your assessor will be looking for:

• Evidence that you have examined the case study and have reviewed the market research process for the organisation.

Case study

You receive a market research report from Lombards Consulting (see following pages).

You sent out the market research report as well as your variance summary of the marketing activities taken to key stakeholders and asked them to reply by email.

Later, in discussion with the principals of Lombards Consulting, you are made aware of the location and availability of source data on which the report was based.  These include the original responses to the customer surveys, taped interviews and focus groups (with signed participant consent forms) and notes taken during conversations with staff, with Houzit staff/managers and customers. Copies of secondary data was also available, crossed referenced and physically identified in the report and source document. Where possible Lombards Consulting used the scientific method of careful observation, formulation of hypotheses, prediction, and testing in their research. They also spoke of using multiple methods to ensure greater confidence in the findings.

When asked about the lack of time spent with the Houzit managers, Lombards consulting spoke about the healthy scepticism they have built toward assumptions made by managers about how the markets work. They also said that  the intellectual divergences between the mental styles of line managers and marketing researchers often got in the way of productive relationships. The marketing researcher's report may seem abstract, complicated, and tentative, while the line manager wants concreteness, simplicity, and certainty. Lombards suggested they be involved in the earliest part of the planning process, in fact why not make them permanent feature in the marketing strategy team.

Emails from stakeholders

The general manager said in an email “I was disappointed that Lombards did not speak to the store managers more. They have real ‘day to day’ contact with customers and have much knowledge about what customers want. Perhaps next time they could be involved formally in the process”

The group buying manager said in an email “The report confirms what we thought about the new category.  I would have liked to see more opinion from the consultants describing what they believed that the business environment data meant in terms of the business opportunity.”

The CEO said that the “feedback from the board was to pass on their congratulations to you on a job well done given the short time frame.” You replied that a research of that magnitude would normally require a 12-14 week turn around. The CEO agreed.