Essays on Information For Decision Making Assignment

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Information for Decision makingIntroduction Managers require information for the introduction of products and services that create value in the customer’s mind. Value perception is subjective and what customer may be impressed about this year may be different from what they require the following year. Common knowledge cannot be used to deduce attributes that create value (Hartmut, Scranton & Spiekermann, 2012). Data has to be collected and analyzed. Marketing research plays this important role for managers. Any organized effort to gather information about customers or markets is referred to as market research. Market research is more often than not used interchangeably with marketing research although experts may want to draw a distinction between the two.

Marketing research is a crucial component of business strategy. Marketing research is the systematic gathering, recording, and analysis of quantitative and qualitative data about issues relating to the marketing of services and products (Malhotra, 2002). This research proposal seeks to establish if there is any difference between online gamers and offline gamers. This research proposal will be important in decision making at Castle Bingo. Problem definitionCastle Bingo is the major trading arm for Castle Leisure.

They celebrated Centenary year after incorporation in 1911 since its inception in 1856. It is one of the oldest private companies found in South Wales. Castle Bingo has eight bingo clubs located in South Wales namely Merthyr Tydfil, Bridgend, Nantgarw, Neath, Uskway, Newport, Swansea, Morriston: also Newport Road and Canton in Cardiff; this has made it to become the market leader in the Welsh bingo market. Marketing research is vital for providing important information on the characteristics of the market as well as new trends in the behavior of customers.

New markets have to be discovered as well as serving market niches in the market. This information can only be divulged if a comprehensive marketing research is carried out. Castle bingo is interested in knowing the number of customers who are online gamers and those who are offline gamers. This research seeks to establish whether the online gamers are the same people who are also offline gamers at Castle Bingo leisure clubs. Development of hypothesis and research designCastle bingo has to understand the composition of its customer in order to tell where more marketing and promotional activities need to be done.

The initial success of Castle bingo as an entertainment center has come from membership drives for the purpose of built clubs which provides the modern bingo player with conformable seating, stylish surrounding, money for bar offering and money catering. In effort to continue impressing customers with best delivery of services, it is good to understand the customer base and number of offline and online customers. Both qualitative and quantitative data has to be collected in order establish the real figures of online and offline customers and whether the same online customers are the ones who participate in offline activities.

The research design will start by preparation and testing of questionnaire to determine their validity. A structured questionnaire will be required to gather qualitative information about the customers (Young, 2005). The questions on the questionnaire have to be tested with a pilot study to remove any kinds of ambiguities. Ambiguities have to be ironed out in order to avoid confusion in data collection and interpretation of questions.

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