Essentials of Business Research Methods †Myassignmenthelp.Com

Question: Discuss about the Essentials of Business Research Methods. Answer: Introduction: Nostalgia Incorporation is one the sound calendar manufacturing organization in the Texas and has a very good reputation of their basic product that is datebook calendar. According to the researcher, the organization Sale was on peak when they started their business in 1998 and continued to grow till 2009, but there was a huge downfall after that and in the year 2014 the company experienced a sale drop of around 28,000 calendars. The marketing manager of Nostalgia Incorporation Mr. Evans was in deep trouble as the company was facing huge number of sales drop and the competitive position of the organization have been lost (Bryman and Bell 2015). According to the researcher, the primary goal of Mr. Evans is to conduct a Market Research of their basic product and make proper changes in their product line to increase the number of sales accordingly. Therefore, by implementing market research of their datebook calendars Mr. Evans will be able to understand and identify all the possible shortcomings of their product that are not really appreciated by the customers due to which the sale of their calendars are drastically reducing year after year. The various steps through which Mr. Evans can solve the problem are as follows It is one of the fundamentals and it is very much needed to make a habit of prospecting. That means in creating a preplanned procedure to attract prospective client base from time to time. It is one of the best ways to target the organizational potential customer base and it ensures that an individual hit the essential number of calls to be successful in prospecting clients. Moreover, prospecting lead towards the attainment of cold calls, emails and personal calls that are the most enjoyable responsibilities of sales people (Hair 2015). Therefore, in order to increase the sale the marketing manager of Nostalgia Incorporation Mr. Evans must put more focus on prospecting. Scheduling Administrative Time: The marketing manager also needs to schedule their administrative time and put more focus on non-revenue generating activities like handling existing customer issues and processing sales paperwork. This will basically help in solving customer problems and Mr. Evans will be able to retain more number of customers for Nostalgia Incorporation (Babin and Zikmund 2015). The marketing manager of Nostalgia Incorporation needs to do an extensive market research of their potential customer base in Texas to ascertain the problem of their sales drop. A good market research will help in understanding what the customer is generally expecting from the organization and their product. Therefore, Mr. Evans will be able to make all those changes in their basic product according to the requirements and information provided by the customer and by doing so Nostalgia Incorporation will be able to get the potential customer back under their belt (Malhotra, Briks and Wills 2013). According to the researcher, the procedure that is needed to follow to determine the sale decrease is focus on all the internal causes of declining of sales. The factors that are taken into consideration are as follows: In this fast changing business environment, there are huge difficulties to manage change and there are several implications of these changes within the sales team. The most common disruptions are towards morale that eventually results in dropping down the sale of the organization. Therefore, in order to determine the valid reason Mr. Evans needs to understand the internal disruptions and take following measures to handle team conflict as it has a direct impact on the productivity of the organization (Farris et al., 2015). Ineffective Amount of Incentives: Often lower amount of Incentive towards the sales team lower the sales performance. Mr. Evans needs to discuss with all the sales people regarding their expected remunerations and other financial wants required to be fulfilled in order to increase the sale of the organization. The marketing manager need to update the organization compensation system and take a brief look in the sales team and try to focus on activities that are causing the sales drop accordingly. Mr. Evans must make proper discussions with the sales team members and try to find out the actual reason behind the sales drop (Johnston and Marshall 2016). Therefore, the actual reason can be identified by taking these procedures while most of the reasons will sound like excuses but not all will be and it will provide brief and valuable insights to allow in making all the adjustments that are required to get sales back on the track. Demand Exceeding the Sales Team Capacity: In many cases it is been observed that the excessive demand often results in the increase of sales volumes but in many cases it has been observed that this scenario is only a temporary effect. Therefore, as the capacity of the sales force and team erodes in the face of the increasing demand for the product the service capability tends to suffer and the organization losses the potential customers. There are several impact that arises due to excess of demand that includes inability to schedule appointments with new customers prospects due to decrease in time and there is always a situation of dilemma whom to serve first new or old customer that causes distractions and conflict among sales people (Hu, Koh and Reddy 2014). In addition, it can be concluded that all the above-mentioned procedures are needed to be applied by Mr. Evans in order to determine the actual reasons behind the Sales decrease. Mr. Evans must provide more efforts to solve the problems of the organization internally. As most of the problems arise within the internal environment of Nostalgia Incorporation and if all those situations are taken care of the sales volume will be increased in the future context. Moreover, s sound market research are also required in order to understand the customer choices and preferences regarding datebook calendars as with changing environment the wants and needs of the customer are also changing (Epstein and Buhovac 2014). Therefore, market research will be very much beneficial for Mr. Evans in order to determine the reasons and take proper measures to solve the customer problems that will enable the sales to increase for Nostalgia Incorporation. Referencing: Babin, B.J. and Zikmund, W.G., 2015.Exploring marketing research. Cengage Learning. Bryman, A. and Bell, E., 2015.Business research methods. Oxford University Press, USA. Epstein, M.J. and Buhovac, A.R., 2014.Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers. Farris, P., Bendle, N., Pfeifer, P. and Reibstein, D., 2015.Marketing Metrics: The Manager's Guide to Measuring Marketing Performance. FT Press. Hair, J.F., 2015.Essentials of business research methods. ME Sharpe. Hu, N., Koh, N.S. and Reddy, S.K., 2014. Ratings lead you to the product, reviews help you clinch it? The mediating role of online review sentiments on product sales.Decision support systems,57, pp.42-53. Johnston, M.W. and Marshall, G.W., 2016.Sales force management: Leadership, innovation, technology. Routledge. Malhotra, N.K., Birks, D.F. and Wills, P., 2013.Essentials of marketing research. Pearson.