I need a discussion response to my teachers question My post Market research is

Question

I need a discussion response to my teachers question

My post

Market research is essential to any business, whether expanding into new markets or develops strategies to increase competitiveness in current markets. Soft and hard data are both useful in gaining further insight. However, each has its place in the market research process.

Benefits of soft market research data:

In Soft market research, data such a psychological response and emotions displayed towards the products might contribute a lot while formulating the marketing strategy. While gathering the soft market research data using focus groups and observation, we come to know what motivates the potential customer while making a purchase. This finding can be incorporated in various aspects in pricing, discounting, product features and packaging etc.

Soft marketing data is difficult to capture and analyze, but when captured successfully and understood properly, the advantages can be multifold in terms of revenue and customer loyalty.

Benefits of hard market research data:

Hard research relies on gathering numerical and demographic data, which helps determine who the organization's customers are and what they want, how much they want, and when or how they want the product or service.

Hard Data describes the types of data that are generated from devices and applications, such as phones, computers, sensors, smart meters, traffic monitoring systems, call detail records, bank transaction records, among others. This information can be measured, traced, and validated.

Most organizations today already use Hard Data for analysis, geo-location, predictions, and optimization and are now trying to differentiate themselves and add more value to their Hard Data applications for their customers.

When we need to quantify the data and check the numbers, past and present sales and buying trends of the customers then we use hard data. Whereas, when we need to analyze the psychological needs and factors of the customers, like their desires, likes and dislikes, and any other psychological quotient, then we use soft data.

WC: 310

References:

Wild and Wild (2016). International Business: The Challenges of Globalization 8 th edition (with MyIBLab SAC). Pearson Publishing

Teachers question

Thanks for your answers. Could the immediacy and apparent understandability of focus groups be misleading?

Explanation / Answer

analysis is an essential task for each and every organisation to maintain quality in the jobs inside an organisation. Specific terms on job analysis create a better working environment by providing better jobs to their employees. By having a specific job analysis a manager can easily increase its overall efficiency of the team as well as different aspect of the teamwork. Job analysis methods are an essential tool to carry out an analysis on the need of the specific employee for the organisation.
Basically the job analysis is carried out to assign it to the specific individuals as well as a group of individuals. To carry out duties as well as responsibility for the specific individuals job analysis is very essential. Studying the overall structure as well as different aspects of the job is called nature of job and it requires responsibilities which are allocated in the scope of the job analysis.
Three job analysis methods are as follows
1. Observation method
2. Interview method
3. Questionnaire method
Observation method
In this type of job analysis method, job analysis record each and every activity of an employee and keeps and I on the employees performing as well as non performing tasks. He looks after if the employee is able to fulfill or un fulfill his responsibilities.
Some advantages of observation method are as follows
• It creates an opportunity for access to the situations and to the people wear questionnaires and interviews are impossible all the most appropriate research methods to use.
• It can be used to analyse the real life working environment and situation.
• It provides a better explanation of meaning as well as content.
• The data available by these observational research is validated and provides more depth.
Some disadvantages of observational method is as follows
• It can be very very time consuming which reduces the overall efficiency
• It is totally dependent on the role of the researcher.
• It can give out negative impacts on the researched employees as per the situation
• It can also be viewed as being very subjective
Interview method
In this method the employee is interviewed by an interviewer in which the interviewee comes up with us on ideology as well as work style. Usage of the particular techniques and skills while performing their jobs as well as wearing the insecurities in their careers could be easily analyse with the help of the interview method.
Some advantages of interview method are as follows
• In an interview method the correction of animation of standing can be rectified very easily as both of the parties are physically present.
• Relationship between the interviewer and the employee can be developed through an interview.
• By interviewing job analysis method we can select the most eligible and suitable candidate for the job.
• Selection of a candidate is done very quickly as compared to other methods
Some disadvantages of interview methods are as follows
• False information can be provided in an interview and this would leave the process in completed.
• Les field oriented questions can be asked which lead the interviewer as well as the interviewee to disappointment
• The process of arranging in interview as well as going through it takes a lot of time which is a very negative point.
• Personal matters cannot be involved in a professional interview as well as job analysis method which is the major drawback.

Questionnaire method
In this method employees are asked to filled up of questionnaires which is made by their superiors as well as the managers. This specific interview is based on effectively collected data from the organisation and then later using it to provide improvisation in the questionnaire.
Some advantages of questionnaire method are as follows
• Question answer very cost efficient because there is no specific medium required other than a piece of paper or some electronic medium.
• As the questionnaires are based on the collected data from the organisation they are very practical in terms of getting proper feedback.
• Questionnaire provide results in a very good speed which can be connected and interpreted quickly.
• Questionnaire are easy to create and need less complication as well as skills to create them.
Some disadvantages of questionnaire methods are as follows
• Questionnaire can increase the overall level of dishonesty in filling the questionnaires.
• There is no way to determine if the employee has interpreted the original Idea behind the asked question.
• It is very hard to convey feelings or emotions through a questionnaire which cannot capture the overall response of the employees.
• In questionnaires mostly some questions are skipped which makes it less efficient job analysis method.
This analysis methods provide specific support to the overall decision making inside an organisation by having an opportunity to directly have specific information from interviews as well as different aspect of job analysis method. Job analysis methods are highly complicated as well as simple and they provide specific rigid data which can be used for implementing new strategies into the organisation as well as implementation of different type of tactics. By having an ability to communicate between two terms, level of Human Resource Management implementation could be easily increased.
Interviewing an employee for an organisation for the specific job is a finest example of a job analysis method in which the overall qualities of the specific employee is tested and implemented into the organisation. In this type of job analysis Interview method is used and directly carried out the specific usability of the employee for the organisation and also determine if the specific interviewee visible for the job or not.
All in all we can see that job analysis is an essential task for each and every organisation for determination of a better position of the jobs inside an organisation. Job analysis method implemented into the human resource management system of your organisation you can easily increase the overall efficiency as well as productivity of the organisation. Job analysis methods provide an extra support to the decision making as well as new strategic implementations into the organisation which directly leads the company for better profit as well as efficiency.
references
http://www.whatishumanresource.com/job-analysis
https://www.thebalance.com/job-analysis-1918555
http://vle.du.ac.in/mod/book/view.php•id=12758&chapterid=27117

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

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