2. You have been charged with determining how to attract more business majors to

Question

2. You have been charged with determining how to attract more business majors to your school. Write an outline of the steps you would take, including the sampling procedures, to accomplish the task. (Hint:  This is a marketing research issue.  Your answers need to outline the steps you would take to do the marketing research, not explain how to attract more business majors to the school.)2. You have been charged with determining how to attract more business majors to your school. Write an outline of the steps you would take, including the sampling procedures, to accomplish the task. (Hint: This is a marketing research issue. Your answers need to outline the steps you would take to do the marketing research, not explain how to attract more business majors to the school.)

Explanation / Answer

The steps that would be required to carry out a market research are as follows:

1. Clearly define the problem the market research project will help anwer. In this case it could be something like:

To help in gathering insights on needs/expectations of students who seek to pursue business school to make a focused marketing strategy to attract business majors to the school

2. Break the problem into tangible objectives so the surveys can be structured around them.

For example, trying to gather student perspective on the different levers that help them choose a school - Faculty, Financial alignment, Location, Pedagogy, Campus Life etc.

3. Prepare the market research survey questionnaire's based on the objectives set. These would involve a precise, yet, pertinent questions aligned to those topics. Care should be taken that the survey questions are designed in a way to avoid any Questionnaire Bias (question leading the respondent to choose something you want them to choose!)

4. A very important step is to choose the most appropriate sample of student population to send the surveys. In this case, it is better to avoid any bias that can arise out of Judgment & Quota based sampling methods. So, Probability sampling would be a better fit (One such method is Cluster sampling - Students from different demographic clusters can be chosen at random so that there is random but relevant participation from students across demographies - gender, social status, interest etc.)

5. Data collection follows survey completion. Once the data from the surveys are collected, Descriptive statistics around the collected data would lead to Inferential statistical analysis - Setting up Hypotheses about the wider student population and allowing the sample results to reject/not reject them.

6. Based on the hypothesis results, reports and recommendations can be made which can then lead to specific Marketing strategy with relevant segmentation, targeting and positioning can be implemented.

7. It is imperative to close the loop by measuring outcome of the exercise but post admit surveys etc. to make the method robust in its use later.

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.