Business decision making Assignment Example | Topics and Well Written Essays - 2750 words

Business decision making - Assignment Example During the research, the researcher primarily focussed upon factors that influence the purchase of consumer drinks such as, consumer profile, preference and attitude. In market research, especially in retail industry, the role of primary data is very crucial. Given the scenario, the data will be useful for determining the product’s potential market and support validity and reliability of the research report. The questionnaire in this research will have close-ended questions so that data can be generated from participants without any hassle. Furthermore, a close-ended questionnaire will minimise ambiguity and confusion on the part of participants as well as researcher. In addition to questionnaire survey, the researcher will also observe the participants through face-to-face interview. The interview will be semi-formal in nature, where the researcher will ask relevant questions in order to support data generated through questionnaire. The sole reason for selecting interview method along with questionnaire survey is to access consumers’ behaviour and attitude, which are generally not expressed verbally (Scandura and Williams, 2000). The questionnaire and interview methods are quite helpful for in-depth study and wide coverage. However, the methods can often prove time consuming and costly under certain circumstances. Personal interview involve direct interaction between participants and researcher, which may increase scope of personal biasness in the research process (Patton, 2005). A sampling technique forms the foundation of data collection method. There are mainly two kinds of sampling techniques; probability sampling and non-probability sampling. Keeping in view the project requirements, the researcher will implement probability sampling method such as, simple random sampling. Under simple random sampling, the researcher will select participants randomly so as to develop a rational