Research Proposal:
Marketing Cutting tools in the U.K.
29th November, 2006
Introduction
The research topic I have chosen is the viability of marketing cutting tools in the U.K. In particular the application of internal threading tools where the requirement is to machine components with these tools allowing them to be fastened to other parts or other components.
This research project would enable the understanding of the various methods of research and their application.
It would also involve primary and secondary data collection related to the subject question where all the research would be made utilizing the skills gained from the previous units of this course.
The directives for this research project are detailed here below:
Define a proposal for the research project with procedures to follow.
Source primary and secondary data.
Plan and define the research project.
Systematic outlook on methodology.
Qualitative analysis of data.
Defining the quantity of data.
Evaluation and presentation.
TABLE OF CONTENTS
S. No. Subject. Page No.
1. Information of relevance tree sessions 3
2. Relevance tree 4
3. Justification of final choice of research topic 5
4. Method used to generate the research question 6
5. Statement of research question 7
6. Collection of data used for research 8
7. Action Plan for the Project 9
8. Code of ethics for the research project 10
1. Information.
The reason for researching this particular subject is due to the fact that I have been involved in the manufacture of Thread Cutting Tools for the application of internal threading of components. For more than a decade I have been involved with this product and have a reasonable knowledge of its application where as my knowledge of marketing these Tools in the U.K. is limited. The chosen topic is a method to gain insight to the workings of the industrial trade in the U.K. and evaluate whether there is a viable solution or series of methods for this project to be a success.
With this project a brainstorming session was conducted in class. The topic which was interesting to me was written up on the charts and then forwarded to the group of students for their point of view. Eventually from the topic a relevance tree was created enabling further details which were refined.
As there was only one particular topic which was the marketing of cutting tools in the U.K. defined there were no other topics to reject.
However the topic still had to be refined which is explained in the next section.
2. Relevance tree.
DETAILS OF SELECTION AND REJECTION OF PROPOSAL IDEA.
IDEA
REASON FOR SELECTION
REJECTION REASONS
MARKETING OF THREAD CUTTING TOOLS IN THE UK
PERSONAL INVOLVEMENT IN THE FIELD OF CUTTING TOOLS
SELECTED
3. Justification.
With the relevance tree the research project was defined.
The particular subject has to be further investigated to be a successful project. It also does posses the potential to be highly informative and that there is a huge scope for the manufacturing companies of not only the U.K. but also the other parts of the industrial world.
I feel that this will be a difficult task but I would learn a wealth of information. With this project I can do an in-depth research of the topic using various resources, and draw logical conclusions as well as fulfill the requirements satisfactorily for this course.
This topic is appropriate because it is informative to me and would assist me in my future plans to develop a customer base for this particular segment of the market.
Of these factors which are equally important one other major factor is the market i.e. the industrial requirement. This factor towers over the other factors as without the industrial requirement there would be no need for such a product hence no market requirement.
Therefore my research would be drawn to the direction whether there is a market for this particular product.
4. Method used for generation of research question.
The method used to generate the research question was basically ideas related to marketing and application of cutting tools.
Each idea was written on the whiteboard by Sam and related links to the topic was also written in which each link was elaborated and its related link identified and further elaboration took place.
Finally the research project question was created and decided upon.
5. The final topic of my research project was:
Can we sell sufficient thread cutting tools in the U.K. to make a pre tax profit of £ 50000-00 in the first year?
Sufficient would amount to 100,000 units
6. Collection of data.
For this Project Report data which would be utilized would be primary and secondary data.
Primary Data:
With a statistical approach I would be gathering data which is related to the production levels or output of manufacturing companies who utilize thread cutting tools. This data would enable me to estimate the requirement of this product on a yearly basis and evaluate the consumption per area. Which would be organized in sequence defining each phase of the research project enabling it to be understood and ultimately result in a conclusion.
Qualitative ordinal data shall be collected from the office of national statistics where this category would be ranked and defined.
Quantitative data shall be measured, counted & quantified.
Data for the research project shall be from the internet and government statistical data as well as data from the major tool manufacturing associations, associations of manufacturing in the U.K., financial statements which would also provide data for this would also be valued.
Direct communication with some of the tool manufacturing companies would also be commenced however response to this may or may not achieve results.
Another area for data collection would come from the national statistics of the U.K.
With regard to my place of work I would try to engage myself with some of the tooling manufacturers and hopefully gain some insight on their potential.
Secondary Data:
The major input of this particular data shall come again from the internet but as this would be a secondary data it would be sourced from data that has been documented previously. Additional data would be collated and expressed from the primary data also.
7. Action Plan.
The action plan for this project would be related to the SMART system
(Specific, Measurable, Achievable, Realistic, Timely)
WEEK
ACTION
METHOD
HOW IT IS MEASURED
OUTCOME AIMED AT
1
1/4/06
Relevance tree
Group discussion
Group feed back, ideas, points of interest
Projected idea base
2
15/5/06
Decision on final question
Meeting
Pro and cons of the idea
Final research question
3
1/12/06
Background information
Internet search engines, tool associations, publications, libraries
Quantity and quality of information relevant to research question
Vast amount of information available and possible ideas how to develop my question into a project
4
13/12/06
Research proposal
Informal report
Tutor feedback my overall opinion
Direction related to the proposed project report
5
1/3/07
Collection of data
Internet research and data collection from companies
Importance of their relation to the subject question
Collection of data relevant to the subject
6
15/3/07
Defining data
Collating information
Bringing together information allotting it to presentation status
Outcome & findings
7
20/3/07
References
Harvard
Defining the work completed to the Harvard referencing
References
8
1/4/07
Evaluation
Summarize methodology and findings
Self evaluation by critical evaluation
Finished report
9
1/5/07
Presentation
Unconfirmed
Project outlook
Achieving objectives of the project question
8. Code of ethics.
1. I will abide by the data protection act.
2. I will abide by the law of the land.
3. I will not misinterpret information.
4. I will respect the right to privacy.
5. The information collated will have no other purpose other than the project itself.
6. All information collated will be presented in an accurate method.
7. I will behave in a professional manner.
8. All primary data from participants will be voluntary.
Credit:ivythesis.typepad.com
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