The Coffee Time Company
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Question E.
The Coffee Time Company decided to do research into the Indian market for the purpose of expansion into the country. Although research has its limits applying safeguards against constraints that would reduce foreseen problems can reduce them. The company has to decide the kind of research design needed for the expansion project and stick to it. Research design answers are like a road map that tells where to go and what questions should be asked (Scenario, 2002).
Research require accuracy to insure that companies like Coffee Time make the correct determination for profitability in the market they are attempting to infiltrate. Many factors must be explored in which the information retrieved must be customized to the market area they will be entering. To ensure the correct key market information will be surveyed companies must correctly customize their research design (Scenario, 2002).
The results of the research design must be able to report an accurate consensus of what is needed on the survey that will be used by the company. The survey will be used to determine if this project would yield Coffee Time a positive return on investing in India. For example, one of the questions that would be key to the research is what cities in India would be an outstanding location for a Coffee Time store. Another key question would be what kind of people to target and what the revenue would be per outlet.
Coffee Time was able to address many of their constraints by using descriptive statistics, which is used to describe basic features of data in a study. The use of descriptive statistics sometimes provides simple summaries about the sample and the measures studied (Trochim, 2006). The information from the descriptive statistics was presented in graphic form as a histogram bar graph. This Histogram bar graph displays where the widths of the bars are proportional to the classes into which the variable has been divided and the heights of the bars are proportional to the class frequencies (American, 2005).
Companies need to make an effort to stick with set budgets; time lines and pay attention to forecasts eliminating many of the constraints faced by the company when doing research. Many of the constraints company’s face during research can be addressed, eliminated or reduced if the proper design and scheduling of the project is adhered to (Business, 2008).