Research And Decision Making Assignment
Research and Decision Making: CoffeeTime
CoffeeTime (CT) is a chain of coffee bars located throughout North America and Europe. CT “procures and roasts some of the world’s finest coffee beans and sells a variety of blended coffee beverages and snacks” (University of Phoenix, 2008). As a result, CT has become a popular coffee chain in North America and Europe; however, the global coffee business has recently identified trends indicating that South Asia is a market that has become a significant prospect for the introduction of new coffee products. Thus, CT has considered entering this market within specific locations in India and has performed secondary and primary research to determine which city or cities CT should enter, the target market, and the expected revenue per outlet (University of Phoenix, 2008).
This research has resulted in a considerable amount of data that must be analyzed prior to making any business decisions to ensure successful entry into the market in India. The following information will provide a detailed analysis of the data obtained from the research including the knowable, unknowable, and researchable data, the validity and reliability of the data, the sampling process, decision making strategies, and the limitations of this research. Through the careful analysis of the research performed, CT can implement effective decision making strategies to ensure a successful entry into the market in India.
Data Analysis – Knowable, Unknowable, and Researchable
Research and decision making first requires the determination of what is knowable, unknowable, and researchable to streamline the design of the research and to improve the analysis of the data collected. Specifically, the use of both secondary and primary research is essential to an organization as “Good research generates dependable data, being derived by practices that are conducted professionally and that can be used reliably for managerial decision...
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