The data used in the research project was primary and secondary both. Primary data can be collected through questionnaire, survey or interview of charity cyclists and bicycle enthusiasts. Secondary data of the cyclists’ participation in other peace rides along with their numbers, preferences, amount of money raised, etc could be gathered from secondary sources like newspaper and published statistics of peace rides. Primary data for this feasibility study comprises of information gathered through survey of cyclists’ and will be analyzed to comprehend the significant market variables and motivational factors for the cyclists. The surveys are important instruments to gather the data about the preferences and the money raised by the cyclists’ during their rides, the miles of the peace ride and other information pertaining to the peace rides participants. The analysis of the primary and secondary data leads to business recommendations to the manager.
Performance of the Research
The research has been performed using primary data gathering methodology instrument, survey. The survey was conducted with bike enthusiasts and the sample size was 101. The survey comprised of questions like “Are you a charity bike rider or enthusiastic rider”, “How many times do you prefer to participate in the peace rides in an year”, “What is the maximum amount you raised this year through riding”, “How many miles are you comfortable in riding in a day” along with their demographics like age, gender, income, and education level. Survey form followed the five point likert scale system ranging from 1 to 5 with 1 as strongly agree and 5 as strongly disagree. Survey was filled by all the participants of the study and the study data was processed for the analysis to assist the Colorado peace ride managers in their marketing campaign for the peace ride.
Processing the Research
The data collected through primary research was analyzed. The average of 3.83 cyclists’ raising more than $1000 prefers the riding of no more than 50 miles per day whereas the Colorado peace ride is approximately 60 miles per day. There lies the slight probability that high raising cyclists’ might not prefer this peace ride. The high raising, that is above $1000 cyclists’ prefer challenging terrains which is in favor of Colorado peace ride organizers. As the focus of Colorado peace ride organizers is to ensure that every cyclists’ raise $500, as per the data analysis 51.5% of the riders raise above $500 and 44.3% raise under $500. Considering Colorado peace ride with 500 registered cyclists’ raising $500 each, the suggested funds raised is $250,000 and based on the sample data analysis, the money which can be raised by peace ride is:
Final Report Preparation
Based on the analysis of sample data, it can be stated that Colorado peace ride organizers should incorporate motivational factors like challenging terrains and cyclists’ preferences of up to 50 miles ride daily of the high raising cyclists’ while planning their peace ride. Moreover, high raisers prefer to travel out of their state to participate in the peace ride. Preparing marketing campaign based on all these factors would attract the target market segment of cyclists to participate in the Colorado peace ride. The process for arriving at this conclusion for organizers has been to gather the data of 101 cyclists’ through survey comprising of their demographics, preference, motivation and money raising questions. The responses of the study participants were analyzed to draw significant findings for the organizers of Colorado peace ride.
"Charity Ride Survey Data Analysis." Data Analysis. 2012.
"Colorado Peace Ride Research Project." Research Project. 2012.