The key is to look at all potential causes so as to narrow the parameters of the study to the information you actually need to make a good decision about how to fix your business if revenues have dropped or whether or not to expand it if your revenues have exploded. Among what demographic groups did your revenues fall (or rise)-women or men, people with certain majors, or first-year, second-, third-, or fourth-year students?.In what sales channels did revenues fall (or rise): Were there fewer (or more) referrals from professors or other students? Did the ad you ran result in fewer (or more) referrals this month than in the past months?.In what subject areas did your tutoring revenues fall (or rise)?.In what semester(s) did your tutoring revenues fall (or rise)?.If you approach a marketing research company with either scenario-either too much or too little business-the firm will seek more information from you such as the following: They take a look at symptoms and try to drill down to the potential causes. Businesses are in the same boat you are as a tutor. Alternately, perhaps you ran an ad in your school’s college newspaper, and that led to the influx of students wanting you to tutor them. Conversely, if you’re swamped with people who want you to tutor them, perhaps your school awarded more scholarships than usual, so there are a greater number of students who need your services. Consequently, there are fewer total students on campus who need your services. But are they really the problem? Or are they the symptoms of something bigger? For example, maybe your business has dropped off because your school is experiencing financial trouble and has lowered the number of scholarships given to incoming freshmen. You would send them students to be tutored, and they would give you a cut of their pay for each student you referred to them.īoth of these scenarios would be a problem for you, wouldn’t they? They are problems insofar as they cause you headaches. If the business has exploded, should you try to expand your services? Perhaps you should subcontract with some other “whiz” students. Or it explodes, and you can’t cope with the number of students you’re being asked help. You have been tutoring for a while, and people have begun to realize you’re darned good at it. Defining the “problem” of the research sounds simple, doesn’t it? Suppose your product is tutoring other students in a subject you’re a whiz at. There’s a saying in marketing research that a problem half defined is a problem half solved. Cost budgeting: To determine the estimated cost of the activities to complete the project work.ġ1.Figure 4.6: Steps in the Marketing Research Process Step 1: Define the Problem (or Opportunity) The schedule development process reveals an estimated reflection of when all of the required work can be completed with the given resources.ġ0. Schedule development: To determine the project schedule based on the sequence of activities, the required resources, and the required monies. Risk management planning: To determine the risks within the project and how to react to the identified risks.ĩ. ![]() Cost estimating: To determine an estimated amount of monies to complete the project work using the defined facilities, services, and goods.Ĩ. Activity duration estimating: To determine the estimated required work units to successfully complete the defined activities.ħ. Activity sequencing: To determine the best sequence of planned activities within the project work.Ħ. Resources include people, equipment, and materials.ĥ. Resource planning: To ascertain the required resources to achieve the defined activities to complete the project work. Activity definition: To define the required activities, and only the required activities, to complete the project scope.Ĥ. The sum of the smaller elements equate to the project scope.ģ. Scope definition: To breakdown the project deliverables into manageable elements. Scope planning: To create a document that will guide project decisions.Ģ. Below are some examples of Core Processes:ġ.
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