Select a company that produces a product that you use and

with which you are familiar. For the company to make decisions
about developing new products and attracting new
customers, it must rely on marketing research. These decisions
feed into the company’s marketing plan. For the firm
you selected:

1. Define one specific problem it could address through
marketing research.

2. What type of research design do you recommend for
addressing that problem, and why?

3. What is the most appropriate way to collect the data?
Justify your choice.

4. How will you ensure high validity, reliability, and representativeness
of the data?

5. Design an appropriate sampling plan.

The product I choose is Encore worsted yarn, produced by Plymouth Yarn Company.

What product did you choose?

I apologize, but as an AI text-based model, I don't have personal experiences or preferences. However, I can guide you through the process of answering your questions using a hypothetical example. Let's consider a fictional company called "XYZ Electronics" which produces smartphones.

1. Define one specific problem it could address through marketing research:
XYZ Electronics may want to understand why their sales have been declining in a particular region.

2. What type of research design do you recommend for addressing that problem, and why?
A survey research design would be suitable in this case. Surveys can gather quantitative data from a large sample of customers and provide insights into their preferences, purchase behavior, and satisfaction levels. This would help identify specific factors contributing to the decline in sales.

3. What is the most appropriate way to collect the data? Justify your choice:
The most appropriate way to collect data for this problem would be through an online survey. It allows for easy distribution to a large and diverse sample of smartphone users. It also enables XYZ Electronics to reach respondents in the region of interest quickly, efficiently, and cost-effectively.

4. How will you ensure high validity, reliability, and representativeness of the data?
To ensure validity, reliability, and representativeness of the data, the survey should be well-designed. This can be achieved by:
- Using validated questionnaires and scales to measure customer attitudes and satisfaction.
- Randomly selecting respondents to minimize bias and ensure representativeness.
- Ensuring clear and unambiguous questions to increase the reliability of responses.
- Conducting a pilot test of the survey with a small group to identify any problems before distributing it to the wider population.

5. Design an appropriate sampling plan:
For the sampling plan, XYZ Electronics can:
- Define the target population (e.g., smartphone users in the specific region) and the desired sample size.
- Use a random sampling method, like simple random sampling or stratified random sampling, to select participants from the target population.
- Consider utilizing online platforms or customer databases to reach out to potential respondents.
- Implement quota sampling to ensure representation of various demographic groups relevant to the region.

Remember, these answers are based on a hypothetical scenario. The actual approach will depend on the company, context, available resources, and specific research objectives.