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Shall The Country Adopt Single Currency?

The best statistical method, in the context of understanding the assumption related to UK and Euro and the question whether the country shall adopt single currency or not, would be to interview long well formulated day-to-day working procedure at a specific and well-selected location. Throughout the procedure, it should be noticed whether there are specific variables within the testable population or not.

These variables would be extremely important while evaluating the basic data in the final stages where the adjustments would be made to the formulated data in accordance to the observations. However, it is important to completely take into account the aspects of fundamental variables of an individual such as ethnicity, religious belief or positive support from the social structure of the management and individual. It is necessary to design a new experiment that test the statistical method.

For the purpose, it is necessary to collect a complete data of the site that would include different religion, ethnicity or gender. An open meeting with potential stakeholders of commerce would be very relevant in this context but only the upper income limits should be taken into account in the initial stages. This is because only upper sections are the groups that are most likely involved in the issue of UK and Euro and the question whether the country shall adopt single currency or not.

The mixed gender of male and female potential stakeholders could well be excluded, as that would complicate matters in the context of gender variable juxtaposed with other pre mentioned variables but considering other dependable factors sustaining it would yield to be fruitful in the long run. Data would be collected in relation to the gender, colour, and religion of the potential stakeholders in respect to the composition of the management under the same parameters. Furthermore, the favourable conditions in the context of experienced stakeholder response would also be accounted.

(Hutt, 2001) All these variables are considered as very relevant and important features of the statistical method and it is to be seen if these aspects are fundamentally acceptable in practical world and it could well be mentioned that service, especially commerce service industry, are a very relevant manifestation of the social dimensions. As a result, if the test is carried out in a proper manner with proper calculations of the population involved then there is no reason that the results would be both logical and true at the end consideration.

In accordance to the basic test selected it could be stated that it could be possible that the outcome would be relatively logical in the sense. It would ultimately follow the trends of social facilitation theory in marketing and thus it would be agreeable with the statistical method and thus a well formulated marketing strategy can be constructed for assessment of UK and Euro and the question whether the country shall adopt single currency or not. However, it should be stated that there would be few independent variables in the context of the test that could not be explained by the statistical method statements.

Here the ethical consideration of the potential stakeholders or the ethnic background of the potential stakeholders may not be a very relevant factor. Thus, there could be some flaws to the collection of the population but if these aspects are kept in mind then the shortcomings would easily be negotiated during the ultimate computations. As a result, the test would appear to be a full proofed measure that would be able to define and prove the fundamental aspects and statistical method applied. (Rigby, 2005)

However, it could be stated that the most basic distinction is between a quantitative or qualitative evaluation. In a quantitative evaluation, the purpose is to come up with some objective metric of human performance that can be used to compare interaction phenomena. This can be contrasted with a qualitative evaluation, in which the purpose is to derive deeper understanding of the human interaction experience. A typical example of a quantitative evaluation is the empirical user study, a controlled experiment in which some hypothesis about interaction is tested through direct measurement.

A typical example of a qualitative evaluation is an open-ended interview with relevant users. As a result, this method would be used widely. As descriptions of statistical methods that will be used it could be stated that in order to isolate the results for this particular study, only a survey questionnaire done would have been utilized. These questionnaires would be delivered to potential stakeholders and retailers along with the administrators of different companies. The results were divided into these same categories to ensure validity and reliability.

General information in regard to identifiers was utilized in order to ensure that there would be no bias. This information provided the researcher with a more clarified view of perceptions in regard to the possibility and impact of UK and Euro and the question whether the country shall adopt single currency or not. (Mentzer, 2001) The objective in this study was to see the possible effect of the impact of UK and Euro and the question whether the country shall adopt single currency or not would have on the market segment.

The study would in fact be balanced in its validity and reliability by results in questionnaires delivered. The objective would be to discover whether a prior knowledge of management of market segmentation would be beneficial or detrimental toward the company and their understanding of the use of strategies as marketing tools. Data would be gained from a specific area for ease of accessibility and for targeted accuracy lending reliability and validity to the research process. The variables involved would also include age groups, amount of education, and understanding of security needs and responsibility.

Other variables may be inclusive of the economic standings of the potential stakeholders of the impact UK and Euro and the question whether the country shall adopt single currency or not, the physical market, along with the same standings for the stakeholders at the edge of the market segment interviewed. A third series of variables includes the types of studies that are managed and the cultural background of the stakeholders at each of these areas. The research paradigm considered by the researcher in regard to this work included the consideration of groups and how strategically developed planning would target them.

These considerations included in management and how the different respondents would in fact classify usage of impact of UK and Euro and the question whether the country shall adopt single currency or not. (Wright, 2000) The data for this work was managed through a single questionnaire handed out to potential stakeholders of the impact of the issue. The researcher utilized gender identifiers and numbers or letters to separate each questionnaire for validity and reliability of results and to ensure bias reductions. The questionnaire is located in the Appendix section for understanding of the questions.

Each question had either a ‘yes’ or a ‘no’ answer or followed positive or negative reactions to certain questions. The process to deliver and collect these questionnaires would be spanned around approximately two weeks. The data sampling would be randomly managed utilizing stratified means with thirty-seven questionnaires completed by both male and female potential stakeholders. The choice to use potential and existing stakeholders alone in this research was made for three reasons. First, it was far simpler to have access to stakeholders in regard to the researcher’s availability.

Second, the focus itself is on stakeholders’ attitudes and understanding of the gadget. Third, the quantification of such information allows the researcher to gain a broader perspective on how stakeholders observe and realize the validity and reliability of information received from a variety of sources and how they apply it to daily life in terms of impact of the issue. (Hall, 2006) It should be noted that reliability for the researcher was achieved in the assurance that only a specified group of men and women were utilized in regard to the research.

That group was focused mostly on stakeholders and retails along with administrative personnel. This gave the research a more focused view of the research goal. The validity was managed because of this focus and emphasized in the considerations involved in the data collection, variables, and sampling methods. Privacy and confidentiality methods included assigning numeric and alphabetic coding to each responding questionnaire. This ensured anonymity in regard to the researcher and the subjects of the research process.

(Zimmerman, 2002) Thus, the most important objective of the interviews regarding this study concerning the market segment of impact of the issue would be building an impact regarding the profitability of this market for the stakeholder. As a result, the study would feature qualitative interviews of personnel and personalities that are well known to the arena of marketing and a huge amount of potential stakeholders who would provide complete views of their needs through as series of open and close-ended questions. (Hall, 2006)

The interviews and questioners would certainly include the Administrators, Managers, marketing experts and Scholar, senior managers and obviously the potential stakeholders of commerce system. The involvement of the administrators is a logical conclusion, as this is the main stronghold that would be able to render the impetus of the market with his valued opinions. It should be noted that the interviews of the organization managers would be very helpful as they are the personnel who directly understand the ground reality of the nature and feasibility of the game plans established in the market segments of the commerce.

Marketing scholars and experts are also important for the basic strategy development these are the people who would be able to provide the theoretical framework of entire project. Interviews of the senior administrators, Journalists and retailer are very important because not only these people are well respected and their words highly valued, these are the people who are able to influence the structure of commerce market segment with their experience and insights.

Lastly, interview would also be taken of experienced and potential consumers because they are the key objective of the entire scenario and these are the people who would actually present the objective of the market and would be instrumental directly to make the market worth venturing. (Berkowitz, 2003) To sum it up it should be mentioned that the data collection will involve client interviews, client’s strategic stakeholder interview, company records, secondary research through the Internet and university database, it will also use strategic analysis tools for development of the marketing plan.

In this context, it should also be mentioned that the purpose of the project is formulated in a mutually beneficial way such that from an academic perspective there would be a huge gain in the context of valuable experience, and simultaneously add value by providing insights as well as a fresh & objective outlook on any matter relevant to the organization.

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