Date: 10 Mar 2014
News Type: Event Highlights
School/Dept: School of Business
On 10 March 2014, Mr Kenneth Tan, Assistant Chief Executive (Assessment) of Media Development Authority, presented on the criticality of marketing research to students from SIM University's School of Business who were taking the Capstone Project course of the Bachelor of Visual Communication with Business programme.According to Mr Tan, a researcher must first define the "universe of interest" and then identify samples of respondents that will be representative of this universal group. Thereafter, he proceeded to review sampling methods that could provide representativeness and stressed that business decisions based on invalid findings of biased research could have disastrous consequences.Mr Tan identified two broad approaches to research, viz., diagnostic and predictive. Diagnostic research analyses past phenomena or behaviour as a basis for planning future interventions. It does "prescribe" solutions, but provides an understanding of why people feel, think and behave in certain ways. Predictive research, on the other hand, projects future attitudes and behaviour based on insights derived from a sample representative of the population - the "universe of interest".It was an informative session for the students as Mr Tan illustrated concepts with contextually-relevant examples and applications. The session concluded with the speaker encouraging the students to continue thinking critically and asking questions.
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