business decision making
Table of Contents
1.1 plan for the collection of primary and secondary data
In order to understand the response or view of the customers about the store, primary and secondary data needed for Shark Spin are as follows:
Primary Data:
In order to do whatever survey needs to be conducted is known as primary data (Bpp, 2004, p7).
Survey can be done to investigate Customer’s response information.
What customers expect from the firm.
What they think needs to be improved can be surveyed.
Then the average income and expenditure, profit margin(before 10years and at present)
Rivalry among existing firm can be surveyed.
How many days a week they eat fish or seafood.
Secondary Data:
Despite being used earlier, the data which is used for survey is known as secondary data (Bpp, 2004, p7). Secondary data that are used here are as follows:
Range: This indicates the range of areas to cover. In order to do that we can take help from Google. Through online searching we can know about the range of areas needs to be covered.
Pricing: Price of the product is the most important. Here we can take help from Internet. Moreover, from the data of the price in national markets set by the other companies can be found in the Internet and on some research papers.
Customer Service: We can set a strong customer service through getting help from any published journal on the sector of customer service.
Local Competitive Set: This can be found on articles, journals, local magazines, research papers indicating the competition in the seafood field.
1.1.1 Presenting Survey Methodology and Sampling frame used
The survey methodology is presented below:
Random sampling
The selection of a random sample, each element of the population has an equal chance of been selected.
In general we do not assume that the underlying data follows a normal distribution, but in order to calculate bounds and confidence intervals from single samples it may be
1.1 plan for the collection of primary and secondary data
In order to understand the response or view of the customers about the store, primary and secondary data needed for Shark Spin are as follows:
Primary Data:
In order to do whatever survey needs to be conducted is known as primary data (Bpp, 2004, p7).
Survey can be done to investigate Customer’s response information.
What customers expect from the firm.
What they think needs to be improved can be surveyed.
Then the average income and expenditure, profit margin(before 10years and at present)
Rivalry among existing firm can be surveyed.
How many days a week they eat fish or seafood.
Secondary Data:
Despite being used earlier, the data which is used for survey is known as secondary data (Bpp, 2004, p7). Secondary data that are used here are as follows:
Range: This indicates the range of areas to cover. In order to do that we can take help from Google. Through online searching we can know about the range of areas needs to be covered.
Pricing: Price of the product is the most important. Here we can take help from Internet. Moreover, from the data of the price in national markets set by the other companies can be found in the Internet and on some research papers.
Customer Service: We can set a strong customer service through getting help from any published journal on the sector of customer service.
Local Competitive Set: This can be found on articles, journals, local magazines, research papers indicating the competition in the seafood field.
1.1.1 Presenting Survey Methodology and Sampling frame used
The survey methodology is presented below:
Random sampling
The selection of a random sample, each element of the population has an equal chance of been selected.
In general we do not assume that the underlying data follows a normal distribution, but in order to calculate bounds and confidence intervals from single samples it may be
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