Market Research Implementation Plan: Research Tools
Evaluation of beneficial research tools for the Yankee management in determining the directional goals for the organization will be the focus. Research tools yielding consideration will include primary and secondary research tools with contrast, and comparison of the tools assessed. The applicability of the selected research tools providing resulting of the most applicable tool and the least applicable tool.
Primary Research Tools
Primary research tools provide firsthand information related to the study of determining the fan support of proposed price increases to achieve a Major League Baseball (MLB) championship. A qualitative ...view middle of the document...
This type of research allows the market researcher to brainstorm thoughts and ideas from a smaller sample source. Brainstorming implements an open discussion, which permits the obtainment of new information that otherwise is overlooked. Because of the typical small sample size of focus groups, they create an issue because it is not representing the necessary audience nor creating absolute conclusions.
Online surveys are another form of primary research except they are a form of quantitative research method. The market researcher has the opportunity to survey large samples that best represents The Yankees customer base. Surveys permit a company to collect a mass of information, provide more definitive data and are more cost effective than focus groups. Gathering information directly from a company’s customer base proves to be more accurate and reliable as it is the direct opinion of the individual customers.
In-depth interviews provide comprehensive data. Surveys, like focus groups can provide direct feedback but can prove to be expensive. Interviews are another form of primary data gathered from asking the interviewee a set of predetermined questions and noting the responses word-for-word. Defined by the context of the question, this research method can provide both quantitative and qualitative data. The quantitative method is applied when the same exact questions are asked in the same exact order every time. The qualitative method is applied when the same type of questions are asked, but worded in a different order using alternate words and asked in varying order.
The uses of secondary research methods are useful in setting a foundation and cross analysis of the primary research. They save a company time and money by providing data that is already readily available rather than gathering the same information twice. The Yankees organization uses commercial market research organizations such as Simmons Consumer Information as a secondary research method. However, this type of research also has pros and cons. This research type results from dedication, focus, and value, but comes at a premium price.
Applicability of Research Tools
The Yankees reputation precedes itself. The popularity of the Yankees is unprecedented. Recently, the Yankees organization built a new high-tech stadium. The stadium is more comfortable than the old stadium and is filled with many more amenities. The old Yankee stadium averaged a...