square pharmacuticals

8/3/2019 Square Pharmacuticals

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Background of the study:

Square Pharmaceuticals limited, located in Dhaka, is the number one Bangladeshi pharmaceutical

company and one of the most recognized Bangladeshi brand among consumers. This high degree of

recognition is one of the main reasons Square Pharmaceuticals Limited has been so successful. For the

2007 fiscal year, ending December 30, 2007, this firm continued to soar, with sales of Tk.. Started

as a tiny organization, the above statement is the present landscape of Square Pharmaceuticals Limited.

But this is not the end of the story, yet has a long way to run. To consistently and constantly grow and

stay on the competition in the highly competitive market, right decision must be taken in right time.

Here comes the importance of market research organizations. They generate and provide information to

be used as input into pharmaceuticals management decision making regarding the product-market

characteristics and functions. In order to determine customer needs and to implement marketing

strategies and programs aimed at satisfying those needs, marketing managers need information. They

need information about customers, competitors, and other forces in the market place. In recent years,

many factors have increased the need for more and better information. As firms have become national

and international in scope, the need for information on larger and more distant markets has increased.

As consumers have become more affluent and sophisticated, marketing managers need better

information on how they will respond to products and other marketing offerings. As competition has

become more intense, managers need information on the effectiveness of their marketing tools. As the

environment changes more rapidly, marketing manages need more timely information. The task of

marketing research is to assess the information needs and provide management with relevant, accurate,

reliable, valid, current and actionable information. Todays competitive marketing environment and the

ever-increasing costs attributed to poor decision making require marketing research to provide sound

information. Sound decisions are not based on gut feeling, intuition, or even pure judgment. In the

absence of sound information, an incorrect management decision may be made. Some organizations

have their own research wing and others depend upon third party research organizations for such data.

Several research organizations like 4P, ACNielsen, Sirius etc. exist in the research industry of Bangladesh.

So, it is imperative to determine their reputation and efficiency. In this study, my main purpose is to

make a comparative analysis between different research organizations of Bangladesh and rank them

based on some relevant attributes. Problem definition/objectives of the research: Broad objective: This

study will be designed to make an assessment of the consumers perception about different research

organizations. Specific objectives: In course of the study, for the accomplishment of the primary broad

objective, fulfillment of the following set of specific objectives a re required: 1.To explore Customers

perception of the set of benefits they are receiving from the third party research organizations. 2.To

identify the existing research firms.

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3.To identify the strengths and weaknesses of various research firms. 4.To compare the capability,

efficiency and performance of various research firms. 5.To recommend appropriate research firm/s to

charter in future. Dependent variable: Perception about the research firms. Independent variables: 1.

Specifications.

2. Error.

3. Currency.

4. Objective.

5. Nature

6.Dependability of the data. 7.Flexibility of data collection

8.Diversity of questions

9.Use of physical stimuli

10.Sample control

11.Control of the data collection environment

12.Control of field force

13.Quantity of data.

14.Response rate.

15.Perceived anonymity.

16.Social desirability/sensitive information.

17.Potential for interviewer bias.

18.Speed

19.Cost

Research Approach: A descriptive research is being proposed to perform the study. Kind of informationto be obtained: This study will be based on both primary and secondary information. Primary data:

Structured questionnaire will be provided to collect information from respondents. Secondary

information: Secondary information will be collected by reviewing web sites, journals, brochures,

publications, newspapers and other relevant documents. Research Methodology: Survey method is

being proposed in which a structured questionnaire given to a sample of a population and designed to

elicit specific information from respondents. Mode of administration of the survey: Face-to-face or


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telephone or email interview may be used. To know the customers perception about the research firms,

this proposed study will be conducted by a constructed questionnaire with those persons who will be

selected as sample for the study. All participation will be voluntary. Page 3 of 4 P.T.O.

Measurement & scaling: To conduct the study, rank order scaling as a comparative scaling technique

and continuous rating scale & Likert scale will be used as non-comparative scaling technique. Nature ofquestionnaire: Both open-ended and fixed-response-alternative questions will be used. Fixed- response-

alternative question includes multiple-choice, dichotomous & scale. Sampling: Population:Various

organizations which hire third party research firms to conduct a study to meet their organization

requirement or which buy relevant data from third party research firms, and responsible officials from

those organizations. Sampling extent and frame: Dhaka city is the sample extent for the study. Sampling

technique: Judgmental sampling. Perhaps it is possible to collect a complete list of organizations, which

hire third party research firms, but in this study, some reputed organizations will be chosen by word of

mouth. Sample size:20. Project duration: Estimated time for completing the project is maximum one

month. Scope of the study: As stated in the background of the study that research organizations are

important for the marketing management, this study is intended to provide insights about thoseresearch organizations so that management can evaluate them effectively. Limitations of the study:

Resource Constraints: Efforts will be made to accomplish the study according to the objectives. But as

the research team consists of only one member, it may be difficult to cover in details. Time limitation:

Due to time limitations many aspect may not be discussed in the present study. Accessibility: Difficulty

may arise in getting access to respondents. Small sample size: Due to time constraints, the sample size is

limited to 20. Confidential information: Confidentiality of data is another important barrier that may be

faced during the conduct of the study. Every organization has their own secrecy that is not revealed to

others. Scarcity of secondary data: Necessary records, publication may not be available. This constraint

may narrow the scope of the study. Unavailability of Respondents: Respondents may be busy with work

pressure or may be somewhere else. Therefore, they may not be contacted

square pharmacuticals

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